|Quoting MD11Engineer (Reply 5):|
Still, among the owners, they have several billion Euros in the backpocket, enough to save the businesses, but They'd rather keep their billions and have the tax payer shoulder the expenses (remember, this year there are several
You are wrong about that. The wealth of Mrs. Schickedanz was mainly her share in Arcandor. Once the company declared insolvency (similar to chapter 11), that wealth has gone up in smoke.
She is no loner a billionaire, simple as that. It is reported that she is now worth a small triple digit million amount and the bulk of that is colateral of a loan from her house bank. She may not have to queue up for welfare, but she had definately not enough money to help saving Arcandor.
BTW, she invested about 600 million of her own money outside Arcandor a few years ago to save the company. This money is lost as well now. She had no legal responsibility to do so and could have abandoned Karstadt/Quelle then,
You get a couple of things wrong about Porsche as well, but that's another story.