they may also take in another company/investor, solely to transfer things over to the new parent corporation. i see no good in bankruptcy. it will not happen over night, for some miracle for the workers to not only keep thier jobs, but pay and benefits package's. i'd also go as far as saying any company contributions to any retirement plans would also come to a halt.If Borden was a trucking company, I'd probably agree with you, since they rarely emerge from chapter 11 as healthy companies. Borden produces dairy products, and restructuring may succeed for them. Their investment in physical plant is quite different than in the trucking industry, and pruning back unprofitable operations may just allow them to continue operations profitably.
why work all those years to basically go back down to "starter wages", when another job will start one off at higher wages?