Chipotle Dissertation

Topics: Bankruptcy, Bankruptcy in the United States, Trade union, Collective bargaining, National Labor Relations Act / Pages: 55 (13547 words) / Published: Dec 9th, 2013
8

SECOND YEAR SEMINAR –- APRIL 27, 2009

BANKRUPTCY IN FINANCIAL CRISIS: IN THE INTEREST OF EMPLOYERS
OR EMPLOYEES

If corporate bankruptcy does not offer a path to reorganization, many of the jobs at struggling companies may vanish for good. That suggests a long and painful economic downturn.1
I. INTRODUCTION ………………………………………….…………………..…….........…….....2
II. BACKGROUND……………………………………………….……………..........….…………...4
A.
Bankruptcy Statistics……………………………….……………..........….…………....4
1.
Indicator of economic health………………….………..........……………….....5
2.
A correlative rise in unemployment rate……………...........…………………...9
B.
History: The Chapter 11 Business Bankruptcy Reorganization Process…...........….….10
1.
The rejection of collective bargaining agreements……..........………….……...11
2.
The Bildisco decision…………………………..........…………………..……...12
C.
The Balance: Successful Reorganization and Worker Well-being…..........……..…..…14
1.
The CBA and bankruptcy relationship…….........………………….….……….15
2.
Rejection pursuant section 1113……………..........…………………................16
a.
Does compliance with section 1113 establish fair balance?..…..............18
b.
“Necessary” under section 1113(b)(1)(A)...............................................19
3.
Protecting Employee and Retiree in Business Bankruptcy Act…..........…….……...….25
III. ANALYSIS……….........…..……………………………………....…..…..…...….………..…....26
A.
Concerns For A More Stringent Bankruptcy Guideline..…............................................26
1.
Extension of deadlines………….........……………………………….………...27
2.
CBA contributes to higher expenses……..........………………………………..28
3.
Role of post-petition financing…….........…………………………….………..29
4.
The creation of new priorities…….........……………………….……………....31
5.
An unfitting one-size-fits-all approach……….........……………….………..…33
6.
Executive Pay: The major source of worker dissatisfaction.......………....…….34
a.
Balancing

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