Originally Posted by
Andy
You're correct. What happens outside of the US is that companies liquidate and then the management of those companies open up a shiny new company without having to deal with chap 11. They're able to dump all of their employees - because the company is liquidated - and hire 'new' employees to their 'new' company at lower wages. The new company has a lower cost structure than the old one that was liquidated.
Kind of like ordering a million dual subsidized super jumbos to replace/poach US and EU international lift currently operated with senior higher cost employees with ones making less on a tax haven loophole from a "country" with no labor laws or tort expenses. Its the ultimate labor busting "reset button" only on a global scale never before seen that would make the labor busting pirates that took down our maritime industry blush in amazement.