Companies that DESERVE to go bankrupt......

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A company is made up of people, wishing them to lose their jobs is just plain mean. wishing Bankrupt on anyone is cruel. Lighten-up. Mike
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For future reference. Plug the holes with wooden dowels and then drill the new holes.
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George wrote:

<snip>
By "companies" I assume your frustration is directed at the fat cats upstairs who are running the company poorly, not the diligent blue collars on the factory floor?
Having said that, I have a company for your list that should have been allowed to die back in the 80's but instead was kept on taxpayer life support: Harley-Davidson.
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Haliburton!!

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But aren't they back in the black and employing lots of people? If that is the case, a little help is better than the entire workforce collecting unemployment benefits. Ed
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Ed Pawlowski writes:

Like the Chrysler bail-out of '80? Still in business, still employing people, profits shipped to Germany.
Charlie Self "Adam and Eve had many advantages but the principal one was that they escaped teething." Mark Twain
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snipped-for-privacy@aol.comnotforme (Charlie Self) wrote in message

I would assume that the profits are shipped to wherever the shareholders happen to live, but that would have been the case even before Chrysler was bought by Diamler (sp?). I am quite sure that all of Chrysler's shareholders were not Americans and I am just as sure that some Americans own shares in Diamler-Chrysler. In the publicly held world there are no "American" companies or "German" companies, just companies headquartered in Germany or the US or companies doing business in Germany or the US or companies manufacturing stuff in Germany or the US. Which of those you wish to focus on depends on your horse and what's goring it.
Dave Hall
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Dave Hall ends with:

The management is German; plants and other entities did a shuffle into Europe in a bit of a rush.
Focus, horses and goring: oxen get gored; horses are whipped, but only after they die; focusing is done with lenses (and I'm outta here: more eye surgery this afternoon).
Charlie Self "Adam and Eve had many advantages but the principal one was that they escaped teething." Mark Twain
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snipped-for-privacy@aol.comnotforme (Charlie Self) wrote in message

(Sigh) Yeah, Charlie, I know. Just was trying to be a little funny and mix my metaphores and did a piss poor job of it. Too blatant to be missed, not blatent enough to be funny.
Dave Hall
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"David Hall" wrote in message

Well, horses do get gored in the bullfight ring fairly frequently ... and I've known some pastured with cows to meet the same fate on more than one occasion. :)
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On 08 Apr 2004 10:49:46 GMT, snipped-for-privacy@aol.comnotforme (Charlie Self) wrote:

Ed didn't say anything about profits. There's more to our economy than just profits.
Have a nice week...
Trent
What do you call a smart blonde? A golden retriever.
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When AMF owned Harley-Davidson, a quick death was in order. Since the employees bought the company, quality is up and they are in the black.
Grant
Edwin Pawlowski wrote:

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wrote in message

is
Yup, I believe they are back and succeeding, but this is the exception rather than the rule. The gvt claims they don't do it unless they feel sure the co. will succeed but ... if the company could have succeeded, it almost always would not need the bailout.
I know it's been said before, but...I disagree with using tax dollars to support failing companies, automakers, HD, or anyone. Too many companies are existing only on the public dole. This country of profit/loss and market freedom should allow companies to fail or succeed on their own and not prolong things at the cost of the taxpayer. HD is one of the exceptions not because they were bailed out, and I didn't know that until I read this, but, if the comments are true, it's because the employees took over and saved a company with a legacy and lots of loyalty. Those type employees would have succeeded somewhere else if they hadn't had HD to buy out. They are/were dedicated people with intelligence and a will to succeed, which is often totally lost with bailouts. If a company isn't making a profit, then there is no need for that company to continue making items that don't/won't sell. It's called one of the arms of supply and demand.
Pop
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It's called corporate welfare. If *you* take money from the taxpayer (government), you're a bum and held up for ridicule by the rest of society. If a company takes exponentially larger amounts of *the* *same* *money* from those same taxpayers (remember, there is only ONE source), the CEOs get applauded by the shareholders, the media, and, saddest of all, the general public. They don't seem to care whether that money is in the form of bail outs, sweetheart government contracts, or cushy entertainment perqs/bonuses for upper management.
I don't care either. It's all welfare. The companies are not paying for those bonuses or box seats or golf club memberships. Because they are all "costs of doing business" and therefore tax deductible, *YOU* *ARE* *PAYING* .
Gerry
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snipped-for-privacy@aci.on.ca says...

... snip

You got it half right. Those box seats or golf club memberships are not allowable expenses and are not deductible. However, you as a consumer *are* paying for them when buy that company's products. You as a consumer are also paying any and all of that company's taxes as well when buy one of their products (you think they would be in business long if what they lost money on everything they sold you or lost 100% of any profits to taxes?). Do you really think corporations and company's pay taxes?
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Mark & Juanita responds:

Probably half right again. In many cases, box seats and other corporate expenses slip in under PR and advertising deductions. As an example, let's say a company supports a race car with company name all over the thing (along with 7003 other smaller company names), being the main sponsor at, say, 20 million bucks per annum. That's advertising. That particular expense may be tied to a box rental or purchase and upkeep at one or more race tracks, which then becomes an advertising and PR expense. While one can't call the entertainments in these boxes particularly classy, unless canned soft drinks and beer and plastic plates for food are now classy, they do tend towards the lavish and large (why have 70 or so seats if they're not filled every time there's a race?).
Charlie Self "A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine." Thomas Jefferson
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On Fri, 09 Apr 2004 04:11:51 GMT, Mark & Juanita

Since when?
Have a nice week...
Trent
What do you call a smart blonde? A golden retriever.
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OK, I remember when HD was aided by some funky tarriffs on Japanese motorcycles, but direct aid? Can you be more specific about that?
I remember the Chrysler "bailout" also. As far as I can tell the government never gave them a penny. Yes, they guaranteed some commercial loans, but since Chrysler recovered and paid those loans off there was any actual tax money involved, right? Yes, there was some value attached to the guarantees, but I don't see how that would have affected my taxes unless Chrysler had defaulted.
Now, I am not defending these practices, but I really don't like people saying tax dollars were spent when they weren't really. Sort of like when people complain about cuts in benefits that are really just non-increases.
Bill Ranck Blacksburg, Va.
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actually, iirc, the gov't got some stock options at a sweetheart price for those guarantees, and when cashed in, made a bundle of profit.
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or in reality, just slower than planned increases. i.e. if they were going to raise some entitlement by 8% and it was only increased by 5%, that, in modern parlance, constitutes a benefit cut. Cut the increase to 4% and it is claimed to be a severe, drastic cut.

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