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A comment on G.M. Strike: 50k Union Workers Walk Out Over Wages and Idled Plants. Parent comment

Re:G.M. Strike: 50k Union Workers Walk Out Over Wages and Id... by bpodgursky on Monday September 16, 2019 @11:14AM (#20984881)
Equity in the old GM got wiped out. It's more than a practicality for you if you held shares in the old company -- or your retirement fund held shares.
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Re:G.M. Strike: 50k Union Workers Walk Out Over Wages and Id... by coliveira on Monday September 16, 2019 @11:26AM (#20985003)
Shareholders come and go. This makes little difference for the company.
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Re:G.M. Strike: 50k Union Workers Walk Out Over Wages and Id... by bpodgursky on Monday September 16, 2019 @12:27PM (#20985734)
This is like calling a heart transplant an everyday affair. It's deeply incorrect.

Corporate reorganizations under bankrupcy law do happen, but they are rare, newsworthy, and very disruptive to workers (at a minimum, their pension and health benefits are renegotiated). Shareholders being wiped out is not normal, and retirement funds -- or really, the stock market at all -- would not work if it was.

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