Sailors, cargo stranded at sea amid global shipper's bankruptcy
One of the world's largest shipping companies is sinking in a sea of red ink, leaving sailors and cargo stranded in vessels anchored offshore and merchants worrying they won't get goods in time for holiday shopping.
South Korea's Hanjin Shipping, the world's No. 7 shipping company, is in bankruptcy and has more than 40 massive container ships stranded at sea. It's estimated they're carrying $14 billion worth of goods -- everything from Samsung electronics and Nike sneakers to furniture and food.