>>I have sympathy for those who would be hurt by an auto manufacturer bankruptcy. But I think we have to look beyond that immediate round of pain at the bigger picture. Should that happen, there will be others who will benefit. For everyone who loses a job, someone who is now jobless may get a job with the new or reorganized company that forms in the place of the old one, a healthier, smarter company.<<
Karen -
I don't subscribe to the idea that the government's job is to prevent all pain and suffering in the country. They couldn't if they tried, anyway.
But I don't think most people realize how many innocent victims there are when a big company goes bankrupt. And no, I don't think that for each one of those victims there is someone who benefits.
I, personally, have never made it back to the financial status I had before my company was taken down by our clients' bankruptcies. It's true that I've had other misfortunes along the way, as has the whole country, so my current situation is not completely due to that one company's failure, but it was definitely a big contributor. In just a couple of months, I lost my job and all the money I had invested in the company's employee stock purchase plan. That was a heavy blow.
Some of my colleagues have made it back to where they were before the company went down. But not all of them, by any means.
- Allen |
