Toys R US Files for Bankruptcy, Crushed by Online Competition

[JHB]

10. Exactly. Headline should read "...crushed by management financial games"

I'd love to see a study about how much job and wage loss that is written off as due to automation and offshoring has actually been due to (or triggered by) financial games by the people in control of the companies.


When this sort of thing comes up it's always instructive to break out the 1991 Philadelphia Inquirer series by Bartlett and Steele:
http://www.philly.com/philly/opinion/inq_HT_WhatWentWrong1991.html

DAY 1
How game was rigged against middle class

After three decades, American worker loses out to Mexico
Who - and how many - in America's middle class

DAY 2
The lucrative business of bankruptcy

DAY 3
Big business hits the jackpot with billions in tax breaks

DAY 4
Why the world is closing in on the U.S. economy

DAY 5
The high cost of deregulation: Joblessness, bankruptcy, debt

DAY 6
For millions in U.S., a harsh reality: It's not safe to get sick

How death came to a once-prosperous discount-store chain

DAY 7
Raiders work their wizardry on an all-American company

DAY 8
When you retire, will there be a pension waiting?

Workers saving for their retirement lose on junk bonds

DAY 9
How special-interest groups have their way with Congress

America's two-class tax system