what is the reasoning behind laying off all of the Blackboard employees and closing the business versus selling the company?
5 replies (most recent on top)
It's worthless or maybe even has a negative worth, like a building full of asbestos. AIG and GE, 2 companies that used to be well regarded in the market and in industry. Now also rans in their respective industries.
@zds+16B2vjuV not to mention the opportunity cost of capital associated with the reserves! yikes!!!!
Also SM the head of Blackboard probably made milllions
The only person who made money from Blackboard was BD. What a scam. He got AIG to pay for The loser company.
It’s not just about getting rid of people. When you go into runoff you are taking all of the claim losses off of your books. No one wants to buy a company that makes no money and has a huge loss run. But if you can pay someone to take it and get those losses out of your hands, you do it. This happens all the time.