On Thu, 22 Nov 2012 09:02:13 -0500, BAR wrote:

This lesson is NOT about unions. This lesson is all about the evils of
indebtedness. MASSIVE indebtedness, with minimal demand for the
product, and little or no capital improvement.

The massive indebtedness is due to the unions.

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I'm not a particularly big fan of unions as you probably know but in
all fairness corporate debt is strictly a management decision. Every
business has to decide how to finance their operations and debt is
just one of the options. A business that has to repeatedly borrow
long term money to stay in business is either very capital intensive
or doomed to eventual failure.