HR leaks

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Anonymous

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I heard from someone who heard right from Chris D in hr that the plan has all along been to go into bankruptcy. Anyone else hear this? What is the advantage to go into bk? Anyone know anything I'm worred because I need to keep my job here.
 






You got it. This may be why so many people have left the company voluntarily. Those in the know either knew this and left, or they were offered something additional to stay. Some would not stay either was and negotiated a quiet exit. Why go into bankruptcy? Because the company may not survive, and while the board and executives will certainly be sued by shareholders for mismanagement, they are much more under the thumb of the bondholders who they jambed up into this mess before the share price dropped. The bondholders are a much more scary bunch, with more legal resources, and filing for bankruptcy gives the company to the bondholders, for whatever value may be left. A company can apply for a plan to come out of bankruptcy, but not likely for such a small company with minimal employment impact. I don't personally know if they will file, or when, but if you do believe that they will, you will first want to sell any stock that you have, before it becomes worthless (a dollar is always better than nothing). Then you would want to at least start the process of looking for a job. There are plenty out there, so you will be fine. Good luck.
 






HR Leaks? You need to worry more about people you THINK you can trust but they really just stab you in the back as soon as they get done getting your info, right My Old Kentucky Girl...
 












Stock price under a dollar, and being delisted, does not always mean bankruptcy, but historically it does. I would think that a safe plan would be to sell any stock that you have, while it's still worth a buck.
 












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