Bankruptcy is a legitimate part of the illegitamate market. As Doug Orr has written, the airlines pioneered the practice of strategic bankruptcy -- using bankruptcy as a tactic to annul labor contracts. Our old friend Frank Lorenzo was the first to use this method. -- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
