Ohhhh Geeeeee 12K worth of UPS workers hitting the streets? Come on Lefties your attempts to piss down our legs and tell us its raining is just that bad!
not a liquidation. They will have five years to pay their creditors about thirty-five cents on the dollar, close their losing locations, and come out leaner and more profitable. Chapter 11's are usually the result of expanding too rapidly, or overall bad management. Directors will probably start with replacing the CEO with someone who has managed an organization through a Chapter 11 reorganization before.
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