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Current Events » in reply to Bankrupt Kodak requesting more money

Re: Bankrupt Kodak requesting more money

They're not expecting more money, as in a bailout, actually, they just want to give their suits (who drove the company into the ground) a bonus while the workers who did the work, the investors who supplied the cash, and the suppliers who are owed, get left holding the bag. In other words, the guys in the office want to clean out the contents of the safe
before the furniture gets repossessed.

"Historically, the problem with big bonuses in bankruptcy was that conferring them often came at the expense of rank-and-file workers. In 2001, Polaroid filed for bankruptcy and eliminated severance and insurance payments — then turned around and gave top brass $4.5 million in bonuses. Congress made changes to the corporate bankruptcy code in 2005 aimed at preventing this kind of lopsided treatment of executives and ordinary workers, but Kodak wants an exception."


I think what we're seeing here, and throughout the business community in general, is an evolution in just what a public corporation is. It is no longer a collective of people who join their fortunes together and take a risk to produce a useful product for the community and a fair profit for themselves.

It is now a private club for a caste (or dare I say class) of individuals to generate benefit for themselves at the expense of their customers, their employees, their investors and their creditors. These are not entrepreneurs, they are rogue employees stealing from their boss and from the public.

As far as these guys are concerned, they are the company. Everybody else is just some lowlife they had to hire temporarily. And of course, the money they shell out to the lawyers who will justify this racket will be claimed as a legitimate business expense--and guess who'll pay that bill.

It is this attitude and this culture, in all its infinite variations and manifestations, with its hedge-your-bets, short-the-market, game-the-system and bet-to-lose philosophy, that explains how in a world where the economy and public wealth is collapsing, a tiny percentage is getting richer and richer every day.

Parasites are the most highly evolved
and specialized of all organisms. And in a stressed ecosystem, it is only the scavengers and parasites that flourish.

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