| ▲ | rvz 12 hours ago |
| Too bad. Capitalism working as it should and no last minute government bailouts for failing companies. The market should decide and determines winners and losers, not the government. So compete. |
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| ▲ | phtrivier 12 hours ago | parent | next [-] |
| I never heard about this company before this morning, so I can't project any second order effect of this closure. That being said, I suspect many people had never heard about Lehman Brothers before 2008... |
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| ▲ | 47282847 12 hours ago | parent | prev | next [-] |
| https://en.wikipedia.org/wiki/Monopoly |
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| ▲ | vrganj 11 hours ago | parent | prev | next [-] |
| Other than ideology, in what way is this a good outcome? For passengers? For workers? |
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| ▲ | ungreased0675 11 hours ago | parent [-] | | Because companies that are run poorly should go out of business. Otherwise, what incentive is there for management to do a good job? | | |
| ▲ | vrganj 11 hours ago | parent [-] | | Why can't management be fired instead? Why punish the above groups for the mistakes of leadership? | | |
| ▲ | RestlessMind 4 hours ago | parent [-] | | Management is also fired in this instance. What you are probably suggesting is that management should have been fired sooner and replaced with competent ones. That is the job of the board, who is the proxy for shareholders. Since the board didn't do its job properly, their shares are also going to zero. Again, working as intended. There should be no free lunch or bailouts for incompetent work. | | |
| ▲ | vrganj 3 hours ago | parent [-] | | The people being punished aren't the board or the management, those will fail upwards to other cushy roles. The people being punished are the workers and the consumers. If the board is unable to bring their house in order, the state should fire them, not let their incompetence ruin the lives of the working class. I agree with GP that this is "capitalism working as it should", e.g. inflicting cruelty on working people while funnelling more wealth upwards. I disagree with the assessment of that being a good thing. |
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| ▲ | low_tech_love 11 hours ago | parent | prev | next [-] |
| Man wouldn’t it be great if we lived in that world? |
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| ▲ | littlexsparkee 12 hours ago | parent | prev [-] |
| can't help but think of the deadweight loss to the US over lack of free market capitalism in terms of bailouts, price supports & subsidies, monopolies, etc. every day we stray further and further from this system we purport to have. edit: do folks not think more competition would be better for consumers? i'm no stan of capitalism but surely it could be made better, sheesh. |
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