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A Christian's Observation on Money,
Markets and Economic Events
A Blog by Chad P. Wilson
This section of our website will be twofold. Occasionally we will post messages and devotional commentary on what the Bible has to say about money and how that should affect the way we live and work and secondly, we'll seek to share insight and information on current economic issues and events. Just click on any of the titles listed below...
The Two-Edged Sword of Corporate Bankruptcy
By Chad P. Wilson
May 15, 2009
Foundation Bank --
The Two-Edged Sword of Corporate Bankruptcy
On the one hand, Chrysler and GM are addressing the issues that have handicapped them for years. Much like Rome, these two car manufacturers got spread too thin in an attempt to grow their empire. Bigger is not always better. The steps that will take place over the next few months will position them to have a chance at surviving as an on-going business long term. That is the positive side of the sword. But the sword cuts both ways. Being cut in the process are 800 dealers with Chrysler and possibly 1100 with GM. Hard working front-line folks and multi-generation owners are going to face some serious challenges in the future. They will have to start selling pre-owned cars, rely on maintenance work, or contract with another auto-manufacturer. Our hearts go out to them. Corporate Bankruptcy is just another example of situations where it seems there is no good answer on the table. But we must hang onto the hope that both the company and the people affected will emerge from this trying time stronger and wiser than they were before.
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