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Dear Editor:
We at Avalon Incorporated commend your editorial denouncing the trend among major companies in the U.S. to resort to bankruptcy as a means to avoid labor contracts, legal difficulties, and retirement obligations to their employees.
In my graduate school, we were taught a declaration of bankruptcy was an admission of failure. Now, chief financial officers often urge bankruptcy as a means to reduce labor costs and dump their retirees at the doorstep of profit.
Avalon believes this is an alarming trend that will undercut the gains made in labor relations for the past 20 years.
We commend you on your farsightedness in presenting these all-too-often hushed reflections among companies that do their very best to treat their long-term, loyal employees as they deserve to be treated—retirement benefits as promised.
You may have raised a few hackles from “bankrupt” corporations, but your editorial has done a service for our local retired and soon-to-be-retired citizens. Thank you.
Sincerely,
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