News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
It's called the Texas two step.
You file business papers in Texas and open an account there.
You use that business to buy all your underwater assets and other liabilities, leaving you free and clear. Then you declare bankruptcy with your Texas company, wiping out the debts. It what you do when grandpappy and the old board sold asbestos to everyone and their kids and now that you're in charge you just want that to go away so you can enjoy your trust fund without fear of any destitute widows or their children trying to take any of it.
In any normal state, this is treated as a sham transaction or a straw purchase and is void ab initio. In Texas though, as a handout to the mining, chemical, and business insurance industries, you can follow none of the corporate formalities needed anywhere else to preserve your corporate viel, and just declare that your company is now two, unrelated companies, sort of like that movie Twins where, even though they are genetically identical and born at the same time from the same parents, one of the newborn companies has all the good stuff and the other has all the crap, and you can pretend it was separated at birth, like it never even existed. And that's how you do the Texas two step. Step three actually is profit.