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Comment by refurb | Hacker News Reader

Are you willing to lose your job because your CEO did something wrong?

No. But that has never stopped a layoff.

It would be better to do this the way the FDIC treats failed banks: sell off obligations of the company, including buildings, equipment, and employees, to competitors. For a straightforward business such as a train logistics company with direct competitors who do effectively the same business, this seems relatively simple.

Selling to competitors sounds like a great way to create monopolies and perverse incentives.

Your idea is full of holes.

You do know that the FDIC requires spin offs as necessary to eliminate monopolies?

Ok, so going with your idea. We kill a company, then sell to competitors. FDIC says "that's anti-competitive".

Now what?

Part of the merger plans include the spin-off plans. This is typical even in large mergers that aren't government negotiated.

So you're not killing the company? You're justing selling it (bad safety culture and all) to another company?

You'd be selling the pieces of it. There would be no corporate charter, shareholders, board of directors, or other corporate structure left.

And no workers.

The invisible hand of the labor market will solve this issue.

Only if they quit. Otherwise they'd be transferred to the new company or one of the anti-monopoly spin-offs along with their part of the business, just like bank branches and headquarters are today.

Under such a system I wonder if people who quit from unsafe jobs more often because the companies would be perceived as less stable.

Even if a purely free market solution doesn't work the employees could be lumped in with victims as the assets are liquidated. Bankruptcy courts handle more complex but similar situations already.

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