How is market competition or the public served by companies whose only strategy is to fail and be bought by the ever shrinking number of ultra rich mega corporations?
T-Mobile was cleared to buy Sprint because Sprint was not able to be a going concern. The end result is the same, with 3 national cell carriers.
this seems like the important part of that doctrine, and a perfect justification for why an amazon acquisition shouldn't be allowed.
letting a company fail really just means letting it sink far enough that some other acquirer will pick it up.
If yes, it sounds rough!
> On 19th October 2023, Convoy ceased operations and laid off remaining staff. Remaining staff were given no severance and were told their stock options were worthless.[9] In a memo sent that day to employees, Lewis points to "a massive freight recession and a contraction in the capital markets" as major factors resulting in the company's failure.[10]
One outcome is Spirit goes into bankruptcy reorganization and still operates, which is hardly unprecedented for an American airline. Nearly every major airline has filed for Chapter 11 since 2002, the lone exception being Southwest.
