by ohanian » Thu 15 Sep 2005, 10:54:13
$this->bbcode_second_pass_quote('RdSnt', '')$this->bbcode_second_pass_quote('caysal', 'D')elta, Northwest, United and US Airways all in bankruptcy.
Industry net losses of $32.3 billion since 2001. General Motors posted first quarter loses for 2005 at 1.1 billion. We have all but lost a premier city and the cost of Katrina continues. As of this morning the cost of the Iraq war is $194,497,500,000 and counting, and the best juggling act in Federal Reserve history is about to retire. Is a financial crash eminent?
"A child of five would understand this. Send someone to fetch a child of five."
Groucho Marx
Seems that large corporations are using bankruptcy as a new way of doing business. You'll notice the airlines are still flying, the only real difference is they get to cancel their obligations to employee pensions and force the employees to take drastic pay cuts.
You'll see Ford and GM doing the same thing in short order. Do an end run around hapless union organizations and cancel pension and medical obligations.
In it, the large corporations rule the world and Governments are in the pay pocket of the corporations and the masses of people are truely screwed by the corporations with monopolies, patents and DRM. The the corps have scant regard for human dignity or human lives and fought amoung each other for raw resources. And don't forget, the best legal system money can buy.
Guess what? It felt like CYBERPUNK 2013 right now, maybe give it another 5 years.
