Time for Thorns

An independent view on life.

Posts Tagged ‘bankruptcy

Remington files for bankruptcy…

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The famous gunmaker’s troubles started  with a  lawsuit by the families of the victims of the Sandy Hook shooting.   The suit was tossed by one court but the idiots at the Connecticut Supreme Court  are still considering it instead of following the lower court’s logical reasoning and tossing the suit.   That is what happens when judges function as activists and forget their job,  which is to follow the laws.

Many gun manufacturers built up too large a supply,  anticipating hillary’s ascension to the throne, but that was just one more nail in Remington’s coffin.  It is still too early to tell whether another Remington firearm will ever be produced.  Fortunately,  I have one already,  along with a century-old Winchester rifle,  both of which may someday pay for a relative’s college tuition….

UPDATE:  Remington has received  a lifeline  — let’s hope it  is successful.

 

 

 

 

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Written by timeforthorns

March 27, 2018 at 2:48 pm

Twinkies killed by union…

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The Hostess Company gave the bakers’ union until last Thursday to reach an agreement,  warning that it would have to move to liquidation if negotiations failed.   The  striking workers in  Maine said the company’s collapse showed strong union resolve.   So these 300 workers think they have done a noble thing by causing the other 18,000 employees to lose their jobs?   Yes,  dear readers;  that is how unions think.   They do not give a damn about  the little guy  they claim to represent.  The union bosses are blaming  Mitt Romney and Bain Capital.

I doubt  the petition  sent to the White House to   “nationalize the Twinkie industry”  will bear fruit,  since Our Lady of Perpetual Dissatisfaction hates the citizenry having access to anything containing sufficient fat and sugar to actually taste delicious.  Nobody beats labor unions at displaying  short-sighted petulance.    Many  will miss the  various tasty treats.   There is the possibility that another company will purchase the brands and continue to turn out the goodies,  but you won’t hear a word from labor if  the new owner,  without the costly and numerous union contracts which made Hostess noncompetitive in a highly competitive market,  makes a go of it.

But weep not,  Twinkie lovers.   Here’s a recipe  for homemade ones which are scrumptious.

Written by timeforthorns

November 19, 2012 at 10:22 am

Another green bankruptcy…

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But Energy Conversion Devices  doesn’t have billions  in government-backed loans,  so the bad management practices of the company won’t cost taxpayers.  This is precisely what should happen to companies which make bad decisions.   Unlike the green crony corporations of His Oneness,  this company is reorganizing and will likely continue.

Written by timeforthorns

February 16, 2012 at 10:38 am

GM to government…

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Reuters is reporting that GM expects to do a bankruptcy filing involving a quick sale of the company’s healthy assets to a new company initially owned by the US  government.    Taxpayers will see the nearly $16 billion in emergency funding to GM be forgiven,  then watch as still more of their  money is poured into old GM and new GM,  run by the labor unions.    Anyone want a Lada?    That’s the standard vehicle produced by Russia for many years,   the perfect parody of a car.  The old joke was that fuel prices didn’t matter, because your Lada never went anywhere.

The Competitive Enterprise Institute points out:  “If you’ve got a technology that consumers want, you don’t need a law that mandates it.”   Go here and listen to CEI’s Sam Kazman on killing both people and car manufacturers.

Written by timeforthorns

May 20, 2009 at 1:44 pm

Chrysler files bankruptcy…

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I came inside for some cold water to drink and a comfy chair to rest my back in, and FOX News is reporting that Chrysler has filed for bankruptcy.   In retaliation,  the White House has issued a statement saying this in “not in the best interests of the country.”

Translation:  How dare you interfere with my plans to nationalize automakers and rescue the labor unions from the predictable consequences of their greed?!!

UPDATE:    His Oneness is now making a formal statement on Chrysler, and blaming a “small group of speculators”,   some hedge funds, to be more precise,  for refusing to take the haircut that everybody but the labor unions are taking on GM.    Of course, nobody is mentioning that the GM takeover would leave stockholders with only 1% of company ownership,  or that he’ll be placing labor union picks on the corporate board,  which means GM will probably cease to exist within two years,   no matter how much additional taxpayer money Obama pours in.

Now, the backstory is that senior administration officials speaking on condition of anonymity  said the government would provide up to $8 billion more to carry the company through bankruptcy,  and will help appoint a new board of directors.

Now we know that the relaxation of the reporting rules for the labor unions wasn’t merely a sop against the possible failure of the card check bill.

Written by timeforthorns

April 30, 2009 at 1:54 pm

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