patcat88
join:2002-04-05
Jamaica, NY
kudos:1 | Bankruptcy court is free money!!! Its quite obvious Fairpoint will try to use bankruptcy court to renegotiate all contracts it has with everyone. Unions and the state. Not sure if the spinoff/merger agreement falls under civil contracts, or government contracts like federal student loans/child support which would mean it can't be touched by bankruptcy court.
Going to bankruptcy court for a large corporation is like printing money. Everyone gets to keep their jobs. Fire the minions and unions, and say "tough luck you can't touch me" to everyone they owe money. Its better than the 0.000001% interest loans from the federal bailout!!!! |
