621–630 of 639 posts
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Paid noncompete periods are far from the only reason for gardening leave.
What are some examples that somebody might have heard of?
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> everyone knows exactly where all the money is Bank accounts, contacts, loans, real estate, equipment, IP, etc. For a (once) multi-billion 1500-employee logistics business, it's more involved than you give credit for.
The CEO/CFO isn’t going to know all the nitty gritty details. Retaining them is about solving different problems than what specific asset is where.
HN is wild :/
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The CEO/CFO isn’t going to know all the nitty gritty details. Retaining them is about solving different problems than what specific asset is where.
We went from "everyone knows where the money is" to "the CFO doesn't know the details." HN is wild :/
If your CEO is looking at records of individual office chairs when unwinding a billion dollar company someone has seriously fucked up. They don’t and shouldn’t know the details by memory.
However, the details are either available so everyone ‘knows’ them as soon as they become relevant, or the executive officers have been committing serious financial crimes.
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1.1B in NOLs. How does this not become a $200MM acquihire by UPS pre-bankruptcy? I’m asking because I would assume that the tax mitigation could be an asset and feel like I am missing something. I am not an accountant, but would love for one to explain why bankruptcy is the best choice.
Because they have a pretty significant outstanding lending portfolio that they are on the hook for. See: https://twitter.com/adam_keesling/status/1715063558898364602... Convoy effectively got into the factoring business and extended short term (30/60/90 days) loans to the trucking companies. Now, they don't hold these loans on their balance sheet but rather package them and sell them to lenders as asset-backed lendin…
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This…not to mention NOLs, contracts, MSAs, etc. At some level there is a market price for these “assets”. Maybe we need an eBay for near bankrupt startups? The bankers aren’t getting it done.
what's an NOL?
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Leisure and comforts like the eight hour workday are what economists call a 'normal good'. https://en.wikipedia.org/wiki/Normal_good > In economics, a normal good is a type of a good which experiences an increase in demand due to an increase in income, unlike inferior goods, for which the opposite is observed. When there is an increase in a person's income, for example due to a wage rise, a good for which the demand…
Im not sure I agree with your normal good characterization. It only applies to goods purchased with money - not ones purchased with time, blood, or death. Someone with more income might exchange more money for time/comfort, if all things are held equal including the price. I think the inverse is true when you consider exchanging things other than money for more comforts. That is to say, people will pay more money bec…
And indeed both the level of union membership and the militancy of union actions supports that. Union membership cratered in developed countries and conditions have improved, and labour conflicts have gone from being outright armed in some cases in the past to being mostly relatively tame and regulated affairs.
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> No, leisure is the normal good. And so is safe food and clean air etc. You got what I meant unless you're being obtuse. The point remains that the demand preceded the financial ability to bargain for it. It was independent of income. > How do 'see' direct causal links? By looking at when employers offered concessions in order to end strikes etc. Now you are being obtuse. Go back and look at newspaper archives from…
> When you describe workers as parasites, that is utterly vile and explains a lot. And so we are done here. You are putting words in my mouth. I am talking about unions, not workers.
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Unless the law has changed, in California back pay is senior to everything except tax debt. And the company officers are personally liable for it. It should work that way everywhere. Executives need to be incentivized to do layoffs while there’s still cash for it. Defrauding employees is a terrible evil.
Have you seen anything suggesting the employees are not getting their final paychecks? All I've seen is them not getting severance .
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Have you seen anything suggesting the employees are not getting their final paychecks? All I've seen is them not getting severance .
We didn’t get our final check. The class action suit went on for several years and the lawyers got all the money. I believe I was entitled to something less that $100 in the end and I declined.