Quote:
Originally Posted by secondcurve
Mr Feuerstein's plan was not successful as he ultimately drove the company into bankruptcy (not once but actually twice). I believe another outfit picked up the pieces the second time and it is operating as a smaller organization with different management, new capital, etc. Unfortunately, companies that don't cut expenses when faced with adversity often find themselves bankrupt.
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Thank you for following up on the story secondcurve! I didn't know about the final outcome. It just supports my position even further. If Mr Feuerstein had laid off a percentage of his employees while waiting for his factory to be rebuilt, perhaps all of his former employees could be employed today and Mr. Feuerstein could have expanded and hired new employees.
Oh how I would love to continue to debate this issue further. But I won't here.
