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Vendaval -> Sun Microsystems, Dead Company Walking (11/21/2008 1:36:00 PM)
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I just read a very interesting article on another segment of the US economy needing to re-arrange and re-think priorities during the economic depression. The company in question is Sun Microsystems, once a leader in the High Tech Industry. The writer suggestions a re-structuring that does not require a tax-payer funded bailout or filing bankruptcy.
"The Poster Child for Dead Companies Walking?"
Silicon Insider: We Shouldn't Prop Up Dying, Older Firms Like Sun Microsystems
COLUMN By MICHAEL S. MALONE
Nov. 21, 2008, 2008
"Sun Microsystems is just the high-tech poster child for dead-man-walking corporations. Our economy is littered with them (though, happily, they probably number far fewer than in Europe), and they exert a tremendous, though rarely recognized, drag on our economy.
And that drag becomes even greater when we try to save them -- or worse, bail them out. Surely there is a better way to put obsolete companies out of business rather than slowly wither away, tying up financial, intellectual and labor capital for years in the process.
Perhaps what we need is some kind of formal liquidation event -- think of it as assisted suicide for companies in extremis -- by which they can easily distribute their assets to all stakeholders, shut their doors and hold a big, drunken "gone out of business" party. Then, those assets could be recirculated back into the economy to, in part, serve as investment capital for new start-up companies -- just as the employees would be returned to the labor pool, many of them bringing their experience to help run those start-ups."
http://abcnews.go.com/Business/SmallBiz/Story?id=6300031&page=1
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