11:31:38 AM #
For those of you not in the know, two of the founding members of Operation Ivy went on to form Rancid.
Very cool, little happy-accident.
10:31:07 AM #
Global Crossing, which is about to emerge from bankruptcy protection, revealed that it had losses of $25.7 billion in 2000 and 2001 after writing down the value of its fiber-optic network.
Most of the loss came in 2001, when Global Crossing had $17.2 billion
in charges, the company said in its first full-year filing with the
Securities and Exchange Commission since 2000.
I'm really trying to get my head around the bankruptcy process in
this country. It seems ripe for abuse (a la the airline
industry). But is it really just an incentive for entrepeneurs to
innovate and take risk on business models that might never see the
light of day otherwise? When dealing with large cap enterprises
($1 billion+) it seems like bankruptcy does less to protect the debtors
of an enterprise and more to encourage companies to enter into industry
destructive behavior since there is little real repercussion.
Airlines that emerge from bankruptcy do nothing but force other
airlines into the process as they are leaner, and more
competitive. The same seems to hold true for the telecoms.
I have a feeling the above little rant is going to be something I look back on in a year
and laugh about since it probably contains a lot of ignorant
statements. However, it's a good starting point for analysis.
10:20:55 AM #
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