"Ed Huntress" wrote in message
...
"F. George McDuffee" wrote in message
...

"Desperate situations demand desperate remedies" is a time-proven
adage. Given the disastrous impact that the cascading failures of
these major players will have on the U.S. economy/society, I
propose a "super bankruptcy court" be created to establish the
likely economic viability of these organizations, with immediate
liquidation (Chapt. 7) [not reorganization (Chapt. 11)] of those
unlikely to survive, with a 10 year suspension from any
management position of the current and previous corporate
executives and directors. (The stockholders have already lost
all their equity, although they might not yet realize this.)

The PBGC should have priority claim on any assets for full
pension funding, and any trust-fund/lockboxes established for
management retirement benefits and/or "differed compensation"
should be recaptured on the basis that this was an attempt to
conceal corporate assets.

The choice is not between a "good" and better" solution, but
between a "bad" and a "worse" solution.

Jeez, you're brutal. g I'm going to wait to hear if John has a solution
that's less drastic.


Let me offer you a little encouragement in the interim Ed. 65 million
dollars per year worth of manufacturing will be back in the US from Korea
beginning in October of this year and the customer involved will be able to
reduce their price, improve their margin and put a little sugar on it for me
and my guys. The meeting ended an hour ago and before you ask me where we
found the capacity let me just tell you that we did, and we did it without
pushing any capacity envelopes.

I realize this is a small sum in the grand scheme of things but you know
what they say -it does add up. I also have to say that pulling something
like this off is better than sex -it lasts longer as well. I will probably
be bouncin' off the ceiling for a day or two at least.

--
John R. Carroll
Machining Solution Software, Inc.
Los Angeles San Francisco
www.machiningsolution.com