Financial institutions are being swallowed by the economic tidal wave. As they try to exit bankruptcy or find reorganizations, the lack of financing to assist them may lead to these five things, as researched by the National Law Journal:
1. Sudden, prenegotiated mergers or buyouts, similar to Lehman Brothers’ fate.
2. Increased asset liquidation, rather than traditional reorganizations.
3. Significant international costs related to layoffs of overseas employees, based on foreign severance protections.
4. As firms merge and restructure, a loss of in-house counsel jobs.
5. Significant changes in executive retention packages to reflect attitudes against large bonuses.
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October 14th, 2008 at 12:39 pm
Result #6: You die broke & destitute.
October 14th, 2008 at 12:40 pm
Result 6: You move into your parents basement.
October 14th, 2008 at 12:50 pm
Result 6: I’m forced to return to my job as a high priced prostitute.