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when Bernie was speaking in the UK this week he used the word “bloody”, do you think that…
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It really depends on the circumstances.
Extremely good businessmen, probably more than a few times. Frankly it’d be the expected outcome, nobody bats four hundred for long. The trick is the really good ones know how to take risks, and occasionally fail, without being ruined. One venture can go bankrupt without taking down everything.
For publicly traded companies? Never. Presiding over the bankruptcy of a public company means you’re either…
A) Incompetent, or
B) A fall guy, or
C) A unionbuster
It depends, are they rich now?
One hundred million times.
Bankruptcy is a tool of business…so it really doesn’t matter. There’s also numerous reasons for closing a business and filing bankruptcy and not all of them are a matter of failure. Sometimes, things just don’t work out.
ELI5 how you think bankruptcy works for businesses.
That number is irrelevant.
If somebody opens a business. It grows and grows. Becomes successful and does millions or even billions of dollars in sales. Employs thousands of people. Then gradually declines over a few years and then eventually fails and declares bankruptcy, but everyone from the founder, to investors, to employees made a lot of money for many years….was that a failure?
Depends on how rich the bankrupt business is, if it is a single guy trying to be a self made man and he bankrupts a company he is a failure. If it is someone who is already a billionaire with several larger companies under his belt and one goes bankrupt them he can still claim success as long as it isn’t to often.
A sad truth of America is that the ultra rich get to play by different rules, and one of the differences is that bankruptcy and taking losses becomes a strategy rather then a catastrophe.
Technically you’re a not a failure until you quit. Bankruptcy isn’t a death sentence other than to your business credit, unless you personally guaranteed which is for amateurs