http://www.emsworld.com/news/11077797/rural-metro-files-for-chapter-11-bankruptcy

Do I understand this right?

We borrow $500 million to buy all new ambulances, and give everyone
fat bonuses. At the end of the year we are $250 million in the hole.

Next - someone gives us $250 million to repeat the scam all over again.

(I am pulling numbers from thin air)

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