The company's bankruptcy filing listed $16.3 million in debt and $50,000 in assets. How can a company like this even have any assets? Is it the stacks of VHS tapes sitting in the corner? The Hollywood rights to "Sexiest Shower Scenes?"
Senior executives and policy leaders have repeated the same tired excuse time and again, "We had to do this, it was the only responsible thing to do." Keep that in mind, and you will see it for what it is: self-serving bullshit.