Could bankruptcy be a good thing? Is anyone familiar with how it went down at SandRidge, and if the employees came out okay? As the stock drops lower, my position as a shareholder in the company becomes next to worthless.
Would bankruptcy at least help shed some of our debt and get a fresh set of management in place without the burdens of the old? I'd happily trade my portfolio of sh–ty CHK stock for a nontoxic work environment that has, you know, an actual future.
He’s not clueless that’s about right , with the exception of all employee owned stock becomes worthless if the company is bought out That means a direct reduction in 401k value . The reduction in assets to bail out or reduce dept also devalues the company as well which at this point is ?
Clueless and u still have a job?
The question of whether or not BK is bad or good depends on what comes out the other side. If the BK results in a recapitalization or reorganization of the debt, then generally the employees come out in pretty good shape (notwithstanding any cuts that the Banks' version of the 'two Bobs' insist on) because the company will stay intact. However, if the BK results in a sale of the assets, then it would depend on who the buyer is. If the buyer has its own management team / employee base and doesn't need to take on any new mouths to feed, the result will be layoffs for everyone. If the buyer needs the bodies to run the new assets, then the employees will be (hopefully) offered the option to move to Houston or take a severance.