As I was watching the news i was shocked to hear that Lehman Brothers were going to file for bankruptcy. Even though this has not officially happened yet, its said that its just a matter of time. I am not sure if people saw this coming but I definitely didn’t. It was something like a wake up call for me even though I am in now away (at least directly) affected by the fall of the company. Naturally when a company files for bankruptcy the future of its employees won’t be that bright. That’s one of the reasons for my shock and fear.
Lehman Brothers is an old and a really big company. It’s a company which is supposedly trusted by many and till now in the wildest of my dreams i never expected this to happen. I have no particular liking for Lehman Brothers but the fall represents a bigger issue. Till today morning I was under the impression that if you have a good education, if you are reasonably smart the chances of you going broke is very little. Even though the people associated with Lehman brothers will or may get settled in various other jobs this is a reminder that anything can happen to any one. I never thought that the employees of the company would ever have to worry about such a situation arising. This shows that no one is safe in this day and age. Even if you are the richest, most established company in the world you could go bankrupt in the blink of an eye(at least form an outsiders point of view).
I don’t know if the bankruptcy is a part of a greater fraud or anything, but it has opened my eyes. Even though I have always have heard people say always reinvent yourself, innovate, never relax etc, its now that I am getting tangible evidence for the need to do the same. It tells us that we should never let our guard down.
What will happen to the employees? I don’t know. This has given me a harsh reminder on how harsh the private sector can be. Other companies have fallen before, but most of the times we always used to see it coming. Even though Lehman Brothers is not the first company to surprise the world by declaring bankruptcy, it’s not going to be the last. The number of such established companies going broke is rising alarmingly. Is this a part of the cycle where after a period of robust economic growth and security the depression starts which in turn will lead to another period of economic growth? I got absolutely no clue. What I know is, the resources in this planet is being used up at a rapid rate, unless there are some big time innovations the situation in the future is going to be very bleak. The concept of survival of the fittest will be taken to a all new level
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