Working in the steel industry I've seen many times where an account goes unpaid due to bankruptcy. So this story caught my eye from the Cleveland Plain Dealer " Republic must resume supplying American axle". A county judge in Michigan ruled the Canton steel company Republic had to resume supplying material to the struggling auto parts manufacturer. Republic had stopped shipping when in a sec report American axle had said it may not be in business much longer.
My problem with all this is who is going to pay for this material if the company folds. You see the court just mandated that Republic act against it's own best interests. Because you know what happens to bills when a company folds they go bye bye. This can be brutal for the companies left holding the bag. That's why the sec demands reports so that suppliers and vendors are aware of the financial status of the companies they deal with.
Once the government starts meddling in private business it's awful hard to get their noses back out of it.
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"The problem with socialism is that eventually, you run out of other people's money." -- Margaret Thatcher.
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