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SWBTATTReg

(22,171 posts)
2. Another example of loading up a company's balance sheet w/ ill conceived debt and ...
Sat Jun 2, 2018, 10:12 AM
Jun 2018

obligations and then turning around, and going bankrupt to cash in on the assets of said company. In the meantime, these poor workers get nothing.

Wrong, absolutely wrong. It's time that the markets start awarding the owners of capital and equity far less and workers far more. Before awarding the so called top 1% of management of companies going out of business, workers at risk should receive a standard (based on years of service, starting w/ a minimum of two weeks severance pay) two weeks severance pay, COBRA to keep their health insurance until they can replace, and a 100% vestment of workers pensions already earned.

This should be part of the process that a company undergoing bankruptcy proceedings (or thinking about) should already be considering. If the company claims that they simply don't have the money, then authorities should step in, seize the company, and claw back management awards, in order to guarantee worker benefits already promised.

The animal spirits are loose in the economy... Anon-C Jun 2018 #1
Another example of loading up a company's balance sheet w/ ill conceived debt and ... SWBTATTReg Jun 2018 #2
It was illegal to plan a bankruptcy. Why are these people getting away with it???? Maraya1969 Jun 2018 #5
Why? Surely you jest... pangaia Jun 2018 #8
Yes. Sophia4 Jun 2018 #15
The Mitt Romney business model. nt tblue37 Jun 2018 #3
That was my very first thought too. And it seems to be the one Trump has chosen for the USA. OregonBlue Jun 2018 #4
Yep, take over a company and pay out huge salaries/bonus' packman Jun 2018 #6
Corporations Are People, My Friend! Marcuse Jun 2018 #14
Great post. Thanks. Sophia4 Jun 2018 #16
Business model? HELL! Grins Jun 2018 #20
It should be spelled... 3catwoman3 Jun 2018 #22
Indeed ck4829 Jun 2018 #25
Welcome to Vulture Capitalism dlk Jun 2018 #7
Mitt Romney called it Turbineguy Jun 2018 #9
What they did at American Apparel Maggiemayhem Jun 2018 #10
SOP, it seems. Much the same thing happened... 3catwoman3 Jun 2018 #11
My hubby is still an employee and I don't know if the pbgc pension will be there when he retires kimbutgar Jun 2018 #17
That's a real serious group alright; hope things turn out ok. appalachiablue Jun 2018 #23
Trumps "roaring" economy Dopers_Greed Jun 2018 #12
These are schemes as bad as pyramids. Ilsa Jun 2018 #13
Romney spike91nz Jun 2018 #18
shameless greed heaven05 Jun 2018 #19
Kick Yo_Mama_Been_Loggin Jun 2018 #21
Late capitalism sure does suck ck4829 Jun 2018 #24
Without corporate regulations and unions, elias7 Jun 2018 #26
ToysRUs was in trouble before 2005, probably would have gone under much earlier without selling out Hoyt Jun 2018 #27
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