Has anyone here studied business at a University?

I've read or heard that Universities teach that filing bankruptcy is an acceptable way to move up in the business world. Just wondering if this is really true, or not?
If it's true, then I wonder why LIberals slam President Trump for filing bankruptcy years ago.?

I do not recall that taught in any business classes I took.
Jim

Liberals will slam trump for absolutely anything. he could cure cancer and they'd whine that chemo doctors are out of a job. He could save a woman from drowning and all you'd hear about is how he didn't ask for consent before giving mouth to mouth.

Everyone knows he's not my favorite guy, but I'll be the first to say he's treated unfairly and hypocritically by the media and the left. Criticism where criticism is due is one thing, but the left and the media go far, far beyond that.

As far as bankruptcy, I have no idea, it doesn't seem like a good thing, but again I have no clue.

I have a BBA. My wife has an MBA. We agree with JabNE. This was in the early 70's. Maybe things have changed with the shift from individual responsibility to "You didn't build that" but I doubt it, or at least I hope not.

Seems I remember they taught a lot on good will and actually taught to avoid bankruptcy. However they did teach the artful form of incorporating to avoid some pitfalls and to keep your self free. The old teacher actually used a corporation I had here in Illinois as kind of a model, not my business but the paper work and filing all the junk. First mistake was filing in Illinois. So I wouldn't say he taught bankruptcy so much as a plan but to hedge your self or an insurance to keep the vultures away from the old homestead should things go sour. It was a college credited class, the teacher was a higher up in Joy Mining Machinery.

I saw this post and afterwards talked to my brother who has a doctorate in medicine and a MBA and my brother in law who is in his second year of getting a MBA, about our genealogy and asked if they were taught that filing bankruptcy was an accepted way to move forward in business and they said no.

Keith

Fair enough. Thank you.

Fake news. Trump and many others have used it that way though

I was waiting for that! Wah..

I guess it's no worse than giving billions/trillions to illegals.

Again the, "No worse than the dems.".....pretty low bar to set, don't you think?

Well, you tell me....

"I inherited this mess." Who started all this crap???

I don't think anyone who declares bankruptcy should ever be free of the debt, It should be treated just as college loans are now.

Knew a guy that took bankruptcy and in less than six months was back in business and was borrowing money. He had to have collateral, so he put up house and vehicles plus just about all he owned, for a 5 year loan. Hadn't learned much about wasting money. Since he had already filed for bankruptcy once he couldn't get out of that mess so had to sell all to get out. One of his projects was a package store and a heating and cooling business with a partner he didn't even know. Each accused the other of stealing out of the til. I think they was just drinking the profits and possibly making a few bad decisions.

They hide under corporations. Incorporated. There are many chapters to bankruptcy. I worked for a company that filed many times under different owners until they reached the results they needed. Not my idea of doing things. But well within the law.

I know some like that as well. It can actually improve one's credit score.
One of my high school classmates filed after doing business wrong the first time, and now owns an executive travel agency and many new businesses and built a new mansion in a city. If at first you don't succeed, try, try again.
I've heard Walt Disney also filed a few times before he got it right.

One of the big traps after bankruptcy is getting sick and big hospital bills or being sued for an accident and no insurance, and big fines or the IRS.

Debtors prison may be the new thing again.

I have a BBA, although I graduated in 1985. I don't recall any references to bankruptcy as a strategy to pursue, etc.

And, now that he has money, if he doesn't pay back those he stuck before, he is no better than any other lowlife bum who does not pay his bills. To take a loan is to give your word. No man is any better than his word.

How many times have some major companies such as air lines filed and they still fly? I doubt that there are classes that discuss how to use bankruptcy to move forward or make money but most well informed businesses with good financial and legal advice know how to work the system to their advantage. As stated above there are several forms of bankruptcy. The most common form Chapter 11 is a reorg form. This puts the management into the hands of the court system to accept which is the best way for the company, individual, LLC etc. to succeed. All out standing obligations other than secured ones are put on hold and most of those open accounts rarely ever get paid and the judge can determine the payback rates and terms of the secured creditors. Many of these succeed as one can find new businesses to supply if the ones owed money don't want to work with them. Sometimes, many times the unsecured creditors get a term payment plan which many times does not included accrued interest etc. I worked with over a dozen farmers who filed a chapter 12 which is the ag form of chapter 11. About 75% of those succeeded and stayed in business, many having left significant dollars unpaid in the process, putting many farmers who paid all their bills at a disadvantage in many cases.
We are currently in an cycle where many farms have very large outstanding operating and or chattel property debts and open accounts. Many of the creditors are very concerned but are banking on the holding of land real estate values to cover their loans if and when these farms fail. Bankruptcies many times are seen as ways out of the black hole by many and many current wealthy persons have filed many times in their lives.
The one thing to remember is "bankruptcy is what you do to others, foreclosure is what someone does to you" So it is easily evident to see why bankruptcy is seen as good way out by many.

Bryce