Strategic Bankruptcy: How Corporations and Creditors Use Chapter 11 to Their Advantage A year later, Continental Airlines, one of the top ten carriers in the United States, claims a deficit when the union resists plans to cut labor costs.Bankruptcy, once a term that sent shudders up a manager's spine, has now become a potent
| TITLE | : | Strategic Bankruptcy: How Corporations and Creditors Use Chapter 11 to Their Advantage |
| AUTHOR | : | |
| RATING | : | 4.83 (981 Votes) |
| ASIN | : | 0520073584 |
| FORMAT TYPE | : | Hardcover |
| NUMBER of PAGES | : | 224 Pages |
| PUBLISH DATE | : | 1992-02-14 |
| GENRE | : |
In 1982 Johns-Manville, a major asbestos manufacturer, declares itself insolvent to avoid paying claims resulting from exposure to its products. A year later, Continental Airlines, one of the top ten carriers in the United States, claims a deficit when the union resists plans to cut labor costs. Later still, oil powerhouse Texaco cries broke rather than pay damages resulting from a courtroom defeat by archrival Pennzoil.Bankruptcy, once a term that sent shudders up a manager's spine, has now become a potent weapon in the corporate arsenal. In his timely and challenging study, Kevin Delaney explores this profound change in our legal landscape, where corporations with billions of dollars in assets employ bankruptcy to achieve specific political and organizational objectives. As a consequence, bankruptcy court is rapidly becoming an arena in which crucial social issues are resolved: How and
Editorial : "A semi-refreshing look at the process, examining the sociological impact of Chapter 11 and calling for more attention to the process." -- Wall Street Journal
"As a study in corporate greed, the uses and cynical misuses of the law for political ends, and the inextricable intertwining of law with history, sociology, economics, and politics, particularly the latter, the book has few equals." -- Harry P. Stumpf, Law and Politics Book Review
"Fascinating. Bankruptcy is a game with winners and losers, and Delaney's message is that the losers are little guys who have been outsmarted by the use, or misuse, of legal strategies in the interest, if you like, of Wall Street. He proves his case in a way that almost any reader must find both attractive and convincing." -- Thomas Crump, American Journal of Sociology
There's no denying the greatness that Steve Garvey achieved on the playing field, but reading this certainly detracted from my view of him. High risk, low risk, win, lose. Michael Kinsley, in his book, succinctly expounds on the troubles and feelings of the later part of the lives of the biggest demographic group of humans in history. Achieve.. When RCA it was formed, he moved into management ranks, and functioned as the technical visionary who promoted broadcast radio as a more profitable venture than the radio telegraphy business. After reading it, I'm extremely glad I bought it! It is well written, and keeps you wanting more. I found this book to pinpoint a key concept that I doubt most people recognize when thinking about sustainability: the goal to Generate benefits for one's own ecological and social communities, rather than reduce negative externalities. Expert Intuition: When Can
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