Originally Posted by
Brian Holcombe
Investors generally do not make out well when a company has to fire all of its staff and shut down. It normally means they are going to get pennies on the dollar for their shares. The bond holders will likely get burned as well. I’m not sure why this is bring framed as some sort of planned management windfall but it seems very unlikely to me. It’s terrible for all involved, including management. I sincerely doubt anyone was looking forward to firing the entire labor force prior to the holidays, most folks just aren’t built like that.
Shutdowns happen. But the things Im reading do not make me think the owner of this company cared enough to try harder. The Board wanted to file Chapter 11. The owner seems to have been the one that decided to shut down.
"All that is necessary for the triumph of evil is that good men do nothing."
“If you want to know what a man's like, take a good look at how he treats his inferiors, not his equals.”