Quote:
Originally Posted by latreche34
I've known people personally who lost their 401k and stocks from businesses like these, and the thief walks out free after filing for ch11 and reorganizing for the next scheme.
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Chesapeake Energy (CHK) really pissed me off. I had stock in it, and it went bankrupt in 2020 (unlike their peers, who were also in bad shape that year). The bankruptcy was rushed through the courts, and emerged from Chapter 11 within mere months. Business as usual again, nothing changed. Within 5-10 years, they'll probably do it again. Rinse, repeat. Stock holders, debt holders, customers, employees -- all screwed over. SA comments are all along the lines of "[CHK] is run by a pack of thieves", and what they did "should be illegal". After the bankruptcy, there was this story (on Seeking Alpha? Bloomberg? Forbes) about how money was wasted on company cars, strip clubs, fancy dinners, etc. I forget all the details, can't find it anymore (buried in SERPs, I'm sure).
Did you ever see how the bankrupt Hertz (HTZ) tried to sell new shares after declaring bankruptcy?! The SEC swatted that BS down ASAP.
https://www.forbes.com/sites/danrunk...eur-investors/
When a company uses scare tactics to drum up business, isn't good to employees, etc, you know something is amiss. Like I said, read all the Indeed/Glassdoor/etc reviews. It's not just the disgruntled workers, even the positive ratings have common negatives.
I can read between the lines.