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Author Question: Why do service industries now account for such a dominant percentage of the national economy? ... (Read 39 times)

meagbuch

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on: Sep 11, 2019

Question 1

How have network carriers used the bankruptcy laws to reduce costs?
 
  What will be an ideal response?

Question 2

Why do service industries now account for such a dominant percentage of the national economy?
 
  What will be an ideal response?


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Galvarado142

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Reply #1 on: Sep 11, 2019

Answer 1

Article 11 of the U.S. bankruptcy code is designed to prevent companies from shutting down. By declaring that one's liabilities exceed assets, a company under Chapter 11 can abrogate contracts to vendors and labor unions. The company, now under direction of an executor and the creditor's council, may continue to operate until it can get its finances together. At that point, it can leave bankruptcy protection and resume operations as a normal company.

Answer 2

Travel and tourism has grown in popularity but the main impetus has come through the arrival of the vast information technology industry and the simultaneous exodus of manufacturing industries to lower-cost countries.


meagbuch

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Reply #2 on: Sep 11, 2019
TY


Galvarado142

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Reply #3 on: Sep 11, 2019
You're welcome


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