[Peace-discuss] miners don't just die

[Paul M. King]

This is a very interesting read that reveals in detail the
inhumane aspects of creative destruction in capitalist systems
(explained by Joseph Schumpeter, who C.G. likes to quote
sometimes). Essentially, bankruptcy is the mechanism used by
guys like Ross to reorganization corporations. Welfare and
debt obligations are shed until invested capital once again
makes large returns. The company is then sold to a larger one,
which leads to widespread economic agglomeration (including
centralization, mergers and vertical consolidation). More
succintly, "Chapter 11...is the US corporate mechanism for
organizing the process of corporate consolidation..."

To study this process naturally leads to questions of
alternative reorganizing tactics. The article states that
cross-border/industry worker solidarity is needed (a bottom-up
response). That makes a lot of sense. However, might there
also be a capitalistic (top-down) response? My question is
this: How might a beneficent "vulture capitalist" reorganize
corporations using bankruptcy laws in favor of labor and
social justice? More specifically...What legal precedents did
workers in Argentina recently use to assume control of
abandoned assets (factories, equipment) to reorganize and
resume production? (Their tactic, by the way, does not lead so
easily to agglomeration.) Do we have legal analogs here in
America to achieve this aim? Do we have venture capitalists
with such a vision?

..:: Paul


---- Original message ----
>Date: Sat, 7 Jan 2006 08:31:18 -0800 (PST)
>From: Ricky Baldwin <baldwinricky at yahoo.com>  
>Subject: [Peace-discuss] miners don't just die  
>To: peace discuss <peace-discuss at lists.chambana.net>
>
>The Man (and the System) behind the Mining Murders
>by Andrew Pollack
>Monthly Review
>
>Most of the coverage of the West Virginia mine murders
>quoted International Coal Group CEO Bennett Hatfield,
>who was on the scene. But its owner and "Non-Executive
>Chairman" is corporate takeover artist Wilbur L. Ross,
>Jr., who has bought up bankrupt firms in a variety of
>industries after they shed pension, health and/or
>other obligations to their workers. And after
>purchase, safety at these companies has nose-dived,
>thanks to the weakening or elimination of the unions,
>as well as nonenforcement of safety laws and
>regulations by state and federal authorities. 
>
>[... the rest of this article includes some very
>interesting history and safety data behind these
>deaths, making the whole story a whole lot less
>natural-disaster/act-of-god-like ...]
>
>http://mrzine.monthlyreview.org/pollack060106.html
>
>
>		
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