Brown blocks plans for new secure training centres for teenage offenders.

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Re: [NYT] A Sudden Rush to Declare Bankruptcy is Expected
From fork-admin@xent.com  Mon Jul 29 21:49:03 2002

On 29 Jul 2002, James Rogers wrote:
> On Mon, 2002-07-29 at 06:36, Russell Turpin wrote:
> >
> > Now yeah, creditors are left holding the bag when a
> > company goes bankrupt.
>
>
> In my experience, it is the shareholders who are left holding the bag.
Yes, the current ones, but rarely if ever the original ones. Mom and pop
investor get screwed, while the originals have inside info and have cashed
it all or enough out to not care anymore.
As for the rules for a corp being different then for people, why do you
think we HAVE corporations? Tax benefits, liability benefits, and the ever
popular <bart>i didn't do it</bart>. If everything can be blamed on a
virtual "thing" then noone has to worry about having their $100M home in
florida taken away :)
Of course if you read the story on VCs posted earlier, you dont have to
worry about corporations happening so much anymore. The old boys network saw
they let things get a bit out of control, all those geeks having money, and
are definately making sure the money all stays in the family from now on.
- Adam L. "Duncan" Beberg
http://www.mithral.com/~beberg/
beberg@mithral.com
http://xent.com/mailman/listinfo/fork