deltapi
@deltapi@lemmy.world
- Comment on A VPN Company Canceled All Lifetime Subscriptions, Claiming It Didn’t Know About Them 3 days ago:
It happens regularly. The most notable ‘tidy’ example I can think of would be when the Governments of US and Canada ‘bailed out’ General Motors. They did exactly what I’m talking about; they created a new legal entity called NGMCO Inc. which purchased almost all the Assets of the ‘old’ GM, including trademarks, names, websites, etc.
The key here is that the selling company was bankrupt. In such a case, the creditors want to try to get money back out of their ‘investment’ so the asset sale is done to cover debts. Selling liabilities generally doesn’t raise money for those creditors, so often after the money is all sucked out, whatever remaining liabilities exist are functionally void. Legally they remain until the corporation is dissolved, but with no ability to act on the liabilities (ie., no money to pay) this doesn’t functionally matter.
The ‘old’ GM changed it’s name to ‘Motors Liquidation Company’ and retained the liabilities. Shareholders of the ‘old’ GM were left holding the bag, so to speak. Technically, it was further split into trusts to ‘handle’ liabilities, but realistically ‘old’ GM sputtered out holding liabilities while ‘new’ GM carried on with minimal penalty.
You can have less ‘tidy’ cases as well, where substantial parts of a company are sold in an asset sale/purchase but leave behind a working company. In those cases the liabilities are not functionally abandoned. Disney purchasing FOX, for example.
Further reading:
www.investopedia.com/terms/a/asset-sales.asp
reuters.com/…/oldgm-exit-idUSN3121109620110331/?f…
- Comment on A VPN Company Canceled All Lifetime Subscriptions, Claiming It Didn’t Know About Them 4 days ago:
This is the exact reason GM still exists.
- Comment on A VPN Company Canceled All Lifetime Subscriptions, Claiming It Didn’t Know About Them 4 days ago:
If the new owners purchased the assets, name, and technology and not the company itself, then it’s beholden on the remains of the old company to honour the deal… Good luck with that.
- Comment on YSK: The Guardian is one of the only newspapers in Australia and Britain to refuse all gambling ads 1 week ago:
Nice try, Guardian social media team. I’m still not giving you my dollarbucks.
- Comment on American Popemobile? 1 week ago:
I mean, the details on the gun mount make sense if it’s remotely operated. Usually AI ‘fuzzes’ the details and I see what looks like an ir window and some other things I’d expect to see on a remote controlled turret. 🤷Not sure though.
- Comment on A Judge Accepted AI Video Testimony From a Dead Man 1 week ago:
No it’s not. Look at the court level in which it was shown.
- Comment on Do you have any “headcanons” (so to speak) about the Star Trek TNG characters? 3 weeks ago:
Fair. Worf did a lot of shitty things, I think the PIC writers were trying to have his character attone a bit, but then he also murders an unarmed ferengi…so 🤔
- Comment on Do you have any “headcanons” (so to speak) about the Star Trek TNG characters? 3 weeks ago:
Are you referring to the story he told about accidentally killing a kid in a soccer match when they both tried to headbutt the ball?
- Comment on Do you have any “headcanons” (so to speak) about the Star Trek TNG characters? 3 weeks ago:
He was kidnapped by humans and not raised properly. No big surprise he has attachment issues.
- Comment on Do you have any “headcanons” (so to speak) about the Star Trek TNG characters? 3 weeks ago:
I’ve decided Ship of the Line is canon and that Montgomery Scott was on the engineering team for construction of Ent-E
- Comment on Popular 3D printer vendor has come up with a foldable portable concept that's mindblowing 1 month ago:
This looks very cool, but I feel like its failure modes would be brutal. I’ve seen some failed prints turn into hairy balls of melted hate, but upside down…I feel like its begging to have a print adhesion failure just break everything.
- Comment on Tesla sales crash continues in Europe, with Germany down 70% 2 months ago:
Because only rich Ukranians could afford them, and the rich ones fled Ukraine when the war kicked up.
- Comment on Sun God 2 months ago:
Screenshot from Rick and Morty S6E9 Bring forth the sheers of stumping!
- Comment on xkcd #3056: RNA 2 months ago:
The advances in cancer research and treatment in the last 40 years is crazy too.
In grade six (80s) I lost one of my cohorts to leukemia. It was a long road for her to her passing, with the stereotypical no hair and sick every day looking worse and worse.
My neighbor’s grade 6 kid has a friend with leukemia and now they’re “just” sick “every once in a while” because they had chemo the previous day and they’re supposed to avoid sports, but is expected to be fine before they go to high school. Wild.
- Comment on Framework ships RISC-V board for its 13" laptops along with "boardless" laptop chassis. 3 months ago:
And MIPS too. NT 3.1, 3.5, 4.0 all saw MIPS, Alpha, and x86 releases.
- Comment on Caveman technology 4 months ago:
That was clever. Thanks for the share.
- Comment on Why does the winter solstice mark the beginning of winter, and not the center? 4 months ago:
No, but being in Spain during the summer lends itself to doing as the locals do. I couldn’t have given less of a care about what time zone I was in.
- Comment on Why does the winter solstice mark the beginning of winter, and not the center? 4 months ago:
I spent about a week in Toledo, Spain for a wedding a few years ago during the summer. We were taking siestas on our second day there and eating dinner at 10pm.
It was actually quite enjoyable operating on the Spanish time-conventions.
- Comment on API error knocks PayPal, Venmo offline around the globe 5 months ago:
Or. I said or.
- Comment on API error knocks PayPal, Venmo offline around the globe 5 months ago:
I mean, yeah. There are places to buy toasters with eth, BTC, ltc, or buy a gift card for a retailer and use that.
- Comment on API error knocks PayPal, Venmo offline around the globe 5 months ago:
I don’t agree. My raw ETH holds up pretty well as money.
- Comment on Intel CEO Lost A 40% Discount For TSMC's Latest Chip Tech After Taiwan Remarks - Report 6 months ago:
He Heard it was the new thing to do.
- Comment on xkcd #3004: Wells 6 months ago:
The fact that people were still paying for ‘professional’ dowsing services as recently as 20 years ago says a lot too. Many people genuinely thought that wells needed to hit a specific spot to get water, the comprehension of how water tables work was certainly lacking.
- Comment on I found a weird IP address on my network that had transmitted an insanely small amount of data. I put the address in my browser and got this. what the heck am I looking at? 7 months ago:
What’s weird about this is that it should be getting a response from IIS like you showed us in the screenshot.
