Two notable companies have just filed for bankruptcy -- Sun Country Airlines and Archway Cookies. Archway has shut down its US operations. An interesting note on the insanity of federal laws regarding the Archway shutdown.

The two subsidiaries, Granger said in the statement, "have been operating at a loss due largely to the significant increases in raw material costs and the record high fuel costs around the country."

The company cited these difficulties as the reason why Archway & Mother's was not able to give the full 60-day notice to employees required by the federal Worker Adjustment Retraining and Notification (WARN) Act.

According to the U.S. Department of Labor, the WARN Act still applies to companies that knew of mass layoffs before filing for bankruptcy. Exceptions still apply, though, for companies that prove the layoffs were caused by "unforeseeable business circumstances."

A company that is found in violation of the WARN Act is subject to a $500 fine for each day past the 60-day threshold and must provide back pay to workers.