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My brain isn't wired to think that negatively

Remember Frank Lorenzo? iirc he took Texas Air BK twice, so he could tear up union contracts and dump the pension obligations. He also took Continental and Eastern BK. iirc he had already stripped Eastern of assets so had no interest other than stiffing creditors.

There are some other well known money operators in the US to whom going bankrupt is simply a business strategy.

Taking GE BK would be a hard sell, right now. Net tangible assets are at -$32B and falling fast, but equity is still a positive $76B. The "job creator class" would have to do some fancy bookkeeping to blow through that much equity so they could make a case their $30B pension liability is "impossible".

Steve
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