…although the sell-off allowed Sun Capital and its investors to recover their money and then some, the company entered bankruptcy leaving unpaid more than $80 million in debts to workers’ severance and pensions.
This Washington Post article is long and angry-making but totally worth the read. Never forget that vulture capitalism is a con, or as one observer notes in the article, “To anyone but a bankruptcy court, this looks like a swindle.”
Pensions are not presents. They are obligations, often taken by workers in lieu of higher wages. Employers who don’t pay them should be dragged screaming through the streets. But that’s just one lady’s* opinion.
*One lady descended from union hellraisers.