We need to change the laws that allow corporations to restructure in bankruptcy and we need to change them now.
It is 100% wrong that businesses keep filing bankruptcy and resturcturing. Some businesses have done this SEVERAL times in the last 20 years.
They are allowed to do some really criminal things in the process. They often award their top executives HUGE INCREASES in salary while they are laying off workers at the same time and breaking unions. That is wrong.
United Airlines is a great example. They are in bankruptcy, AGAIN. They have been there for three years. They are going to end up paying lawyers and consultants over 335 million in fees. At the same time they have rennegged on several of ther pension plans and given them to the government. So now guess who will pick up the tab for these pensions? Yep, we will end up paying it. Thanks United!