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Moose, from B2

Posted by pmb (aka pmb) Nov 30 '12, 09:23

The rest of the employees will likely be gone. The FDIC liquidating a bank is a very different scenario involving the banking system and public money. This is a private company. The only people this affects at this point are the creditors and the bankruptcy code addresses how these liquidations are done. Market forces dictate how to do this in the most efficient way and the creditors who have everything to gain or lose are involved in the process. There is a lot of expenses in a bankruptcy proceeding (probably too much), but the parties that are being affected have seats at the table to make sure their interests are protected.

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Doesn't seem all parties have a seat at the table, if management gets a couple mil severance, while labor gets pink slips. - musubi, cyber stalker Nov 30, 09:27 3
- [deleted] 1
  - Yeah, I should be clear, I meant market forces aren't working "correctly" in an ethical sense. (nm) - musubi, cyber stalker Nov 30, 09:30
- I agree with you here. nm -- nm - groiny Nov 30, 09:29
[deleted]
maybe, but a company begging to get out of paying retirement benefits is bush league. nm -- nm - groiny Nov 30, 09:24

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Moose, from B2

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