Recently, Tupperware filed for Chapter 11 bankruptcy. Many are wondering if this marks the end for a brand that has long been synonymous with high-quality food storage containers. The answer: not necessarily. Filing for Chapter 11 bankruptcy doesn’t mean a company is shutting down. Instead, it allows the company to restructure its operations and business model, giving it a chance to recover and compete again in the market. To better understand, let’s look at three major companies that successfully emerged from this crisis. 1. General Motors (GM) In 2009, GM was on the verge of collapse. However, after a significant restructuring, they bounced back by introducing new car models, including the Chevy Volt, which transformed the electric vehicle landscape. Today, GM has returned as one of the largest car manufacturers in the world, with an annual revenue of $48 billion. 2. Marvel Entertainment Marvel nearly went bankrupt in 1996, but they soon began releasing films like X-Men and Spider-Ma...
Rupiah Redenomination: A Step Towards Efficiency or a New Challenge? Bank Indonesia has once again raised the prospect of rupiah redenomination, a process of simplifying the currency’s numerical value without altering its real worth. For instance, Rp 1,000 would be redenominated as Rp 1. This initiative aims to enhance transaction efficiency and reduce the risk of miscalculations due to excessively large nominal figures. However, Bhima Yudhistira, Director of the Center of Economic and Law Studies (CELIOS), argues that this policy may not be suitable for immediate implementation. Economic stability, public readiness, and the psychological impact on the pricing of goods and services are critical factors that require careful consideration. Historical evidence suggests that while some countries have successfully implemented redenomination, others have encountered significant challenges, including psychological inflation and market uncertainty. Is Indonesia prepared to adopt this policy in...
Exploited by Platforms? No paid leave system (leave means not working but still receiving a salary). No work, no income. When drivers take a break or do not work, the algorithm penalizes them by reducing their orders. This is deeply concerning. Previously, gig drivers enjoyed a period of prosperity, but now they can only reminisce about it. Bonuses have shrunk and become harder to attain, while platform fees have increased, leaving many drivers struggling to make ends meet. Some of the financial burdens faced by gig drivers include: Daily electric motorcycle rental fee of IDR 50,000. A 20% platform fee deduction. A system that assigns two food delivery orders but pays only for one. No access to social security (BPJS Ketenagakerjaan). Orders determined entirely by algorithms. Gig drivers are now suffocating under the pressure of the electric vehicle transition. Ride-hailing platforms prioritize profit maximization without considering the well-being of existing drivers. "What we nee...
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