News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
How is 90k enough to kill a company? Payroll likely dwarfs that number. And creditors will usually work with you if there’s an issue like that and you can show them what happened and how it’s fixed.
While I have no idea of specifics, 90K missing plus 100K in debt to several places, including to the paper’s printer, might be the real issue. The debt stretches back months, and it's possible companies were threatening to stop doing business with the paper. If the printer cuts you off, you can't print the paper that would make up lost revenue. And it's going to be hard to get financing for a new printer when you have outstanding unpaid debt.
I feel like many of those vendors would be willing to setup payment plans or forgive some of the debt outright if the lapsed can prove they were victims of embezzlement (theft) and criminal negligence (not paying the bills of the company as the one responsible for such)
I’m sure many of my vendors would work with me, several of them I approve paying this entire debt amount to them monthly.
I feel like many of those vendors would be willing to setup payment plans or forgive some of the debt outright if the lapsed can prove they were victims of embezzlement (theft) and criminal negligence (not paying the bills of the company as the one responsible for such)
Many companies are not that cash rich, if that was most of their bank balance, and they have $100k debt, suppliers may refuse to any more service until debts have been repaid. Can't acquire what you need, can't produce what you need to sell to raise the cash, so you go under.
Maybe 90k is all they can prove at the moment, but it's really a larger number.
It also seems like something you'd have insurance for.
Eugene isn’t big, and paper is dying. They probably operated on a very tight budget.