Month: April 2019

One Man vs. McKinsey: A Billionaire Says the Consultancy Has Rigged the Bankruptcy System – The New York Times

by dldamore

Contrary to the public imagination, bankruptcy courts are not where businesses go to die. In fact, there is potential for creativity and rebirth in Chapter 11, the uniquely American law for corporate reorganizations.

“Most countries just liquidate companies,” said Richard Gitlin, a bankruptcy lawyer specializing in international debt restructurings who has worked with Mr. Alix in the past. “We are the best at restructuring the resources, taking the good part of the business, adding professional management and making it profitable.”
— Read on www.nytimes.com/2019/04/11/business/jay-alix-mckinsey-bankruptcy.html

*Really interesting article. The snippet above is just one of many interesting sections of this article.

Charles Van Doren, a Quiz Show Whiz Who Wasn’t, Dies at 93 – The New York Times

by dldamore

“I would give almost anything I have to reverse the course of my life in the last three years,” he said. He said he had agonized in a moral and mental struggle to come to terms with his own betrayals.

He lost his job at Columbia, NBC canceled his contract, and, along with others who had lied to the grand jury about their quiz show roles, he pleaded guilty to second-degree perjury, a misdemeanor, and received a suspended sentence.
— Read on www.nytimes.com/2019/04/10/obituaries/charles-van-doren-dead.html

He Has Driven for Uber Since 2012. He Makes About $40,000 a Year. – The New York Times

by dldamore

Silicon Valley has always been a lottery where immense wealth is secured by a few while everyone else must hope for better luck some other time. Rarely, however, has the disparity been on such stark display as with Uber. Its stock market value is expected to be about $100 billion, which would make it one of the richest Silicon Valley public offerings of all time.
— Read on www.nytimes.com/2019/04/12/technology/uber-driver-ipo.html