I don't know much about bankruptcies but there are a few different kinds. Chapter 7 means they're throwing in the towel and having a fire sale. Kodak is in Ch11, designed to get creditors of their backs and allow them to regroup and give it another go.

On keeping 300 employees.
Divided equally, 13M equals $43,000. Sounds a little different doesn’t it?
I know you think they should keep the janitorial crew on the payroll but their skills in things like marketing and R&D are questionable. Someone else can do the cleaning and only when things get dirty again.

Bonuses? How do you consider replacing lost compensation a “bonus”? Yeah, to make up for the nosedive in stock it had to be something like a lump sum. Giving them an increase in salary to make up for it wouldn’t make sense. Remember, they’re not going out of business, they’re trying to keep (dare I say) key employees to bring the company back.

But saying the execs ran the company into the ground is an assumption that ignores the recession and overlooks the fact that they’re trying to get out of the buggy whip business. Hopefully they can do it.

This unquestioning hate for corporations is tiresome.
It’s a prejudice unbecoming.