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Comments:
Anna - 2005-03-01 09:14:50 Corporations should be held to it. And I think the way you express the whole idea of fiscal responsibility is clear and to the point. I also think our standard of living--or, rather, the number and variety of toys and services available for purchase--has increased greatly in my lifetime. But just because some trinket is out there does not mean you need it. * * * * * * * * * * * * Eric * - 2005-03-01 10:30:57 I'm not going to defend corporate america, but if I go bust, I'm going to continue to exist. I'm going to continue earning income. I have the ability to pay back debt. When corporations like Enron go chapter 7, they cease to exist. Assets are liquidated, and that's it. How can you force a company that no longer exists to create revenue to pay back debt?* * * * * * * * * * * * Laura - 2005-03-01 11:02:08 That's true. But one does wish, perhaps illogically, that the assets of a company's top execs be included in those liquidated assets. Caps on executive salaries might prevent more bankruptcies, too.* * * * * * * * * * * * tom - 2005-03-01 13:53:47 Well, if it can be proved that the execs committed fraud, thay can be forced to fork over their ill-gotten gains. This is what happened to quite a few Enron and Worldcom execs. On the other hand, many companies go bust due to bad business environment, competition (e.g., auto suppliers forced out of business due to foreign competition) or disappearing markets (such as slide rule makers). I don't think you can hold anyone financially responsible for what is beyond their control.* * * * * * * * * * * * add your comment: |