4 ms·
airlines used bankruptcy to restructure their finances and liabilities, my argument is MTA must go through deep clean as well, before even thinking about extra
by slt2021 2y ago
airlines used bankruptcy to restructure their finances and liabilities, my argument is MTA must go through deep clean as well, before even thinking about extra $ of taxpayer money.
most importantly people must be changed to more qualified, with less greasy palms, fewer connections to corrupt contractors and political connections
- FridgeSeal 2y agoI have never seen an airline use a bailout to perform a restructure. At best they wasted the cash on giving an exec a golden parachute.
- slt2021 2y agoIt is routine procedure, the very purpose of chapter 11 is to protect the company from liabilities and negotiate a new structure where both shareholders and bondholders and employee unions take a haircut in order to salvage the company and its business model. Company will never recover from chapter11 Unless bondholders, employees, union, all take a haircut and build a new economics(cost structure) for existing business model