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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (94600)	11/7/2008 9:10:45 PM
From: Cogito	Read Replies (2) \| Respond to of 541465

>>Bankruptcy doesn't necessarily mean that a company goes out of business or, even if it does, that parts of that business don't survive in some other form. Bankruptcy can be a way to save a business.<< Karen - The bankruptcy of a large company has enormous negative effects on many other companies. The company I worked for from 1996 to 2001, which had grown in that time from one office and 25 people to offices all over the country, and over 800 employees, was destroyed when our two largest clients declared bankruptcy, and left us holding the bag for tens of millions of dollars in services rendered. We had incurred all the costs of providing the service, but payment was not forthcoming. That led directly to multiple rounds of layoffs, and a stock price that fell from a high of 86 dollars to around 12 cents a share. Just one example from my personal experience. Both of those companies eventually emerged from bankruptcy, and they are still in business today. The company I worked for is gone. - Allen