Last night I made the decision to boycott bankruptcy. Specifically, I intend to boycott corporations which have undergone bankruptcy. I watched the PBS Frontline documentary, “Can I Afford to Retire” and learned that many corporations are now choosing bankruptcy not as a last resort, but as part of their overall financial plan. Undergoing bankruptcy allows them to back out of promises made to their employees. Through bankruptcy, they are allowed to slash salaries, cancel pension plans, and bill employees for their own benefit plans. At the same time, the corporation’s management and lawyers fill their pockets with bonuses and fees for their “loyalty” during bankruptcy. This is morally disgusting.
In my opinion, bankruptcy needs to exist as a safety net for people who have made honest mistakes, not as a way for CEO’s to get rich while their union employees struggle. Therefore, I am going to show these corporations how I feel the only way I can: with my wallet. I am going to boycott United Airlines and Kmart. Are there any other post-bankruptcy corporations I should be aware of?
Bankruptcy may be an inevitable corporate right in a capitalist country, but so is my right to freedom of expression. I’ll be expressing myself with my wallet.