I don't see how the company formerly known as "Truth" can afford to layoff 15K staff without filing for bankruptcy. Seeing that they don't even have the money to pay the employee's salary for 2 months, how are they able to pay for the severance package? Maybe a gov bailout? Not likely.

I guess that would probably come from breaking up the company into pieces and doing a firesale of those separate parts. They are also in a good position now to be acquired but probably be cherry picked for the best parts. I doubt anyone would want to buy this company as a whole now and assume all its liabilities. I think their auditor, Pricewaterhouse Coopers should be held accountable for certifying the fraudulent figures. Think Arthur Anderson/Enron but on a smaller scale.

This post has been edited by wongkee: Jan 12 2009, 08:15 AM