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View Diary: Private equity-owned Hostess blames striking workers as it liquidates (263 comments)

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  •  Should Corporations BK options be limited? (1+ / 0-)
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    I think corporations who employ thousands of workers in the US should have additional limitations on their ability to liquidate their  assets.

    I don't want BK to become a tool for corporations to extract concessions from workers, but with so many jobs on the line, I think that someone other than the Co's board and the union should be the arbiter of what is too great of a concession.

    I also think our BK law should give preferences that would allow a white knight to come in if they are going to keep the company operational and jobs in the U.S.

    Bottom line, if you employ more than 10,000 employees, we should make liquidation a very difficult path to take.

    •  BK laws -- to become a tool? (6+ / 0-)

      boy - we're well past that point - decades past it.

      Just ask the airlines - or better yet the airline workers.

      •  a tool for people instead of for corps (0+ / 0-)

        The issue is how do we make BK a tool that protects communities not just corporations.

        The Twinkie isn't going to disappear, it will just be made by Bimbo bakery or some other manufacturer.

        BK should give creditors a way to cut their losses, but if a brand is viable, the goal should be preserving it and continuing to keep US plants open and US workers employed.  Not to mention other things like Intellectual Property.

        Our courts should be weighted towards keeping workers and assets in the U.S. helping our economy.

    •  Good thing we got bankruptcy reform! (0+ / 0-)

      oh, wait, they only restricted individual bankruptcy.

      It's been a hundred years, isn't it time we stopped blaming Captain Smith for sinking the Titanic?

      by happymisanthropy on Fri Nov 16, 2012 at 11:12:35 AM PST

      [ Parent ]

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