Reader's Digest files for bankruptcy protection

WASHINGTON — Reader's Digest, publisher of the monthly magazine which claims the largest circulation in the world, filed for bankruptcy protection on Monday in an agreement with its major lenders.

Reader's Digest Association said that as part of its previously announced restructuring plan it had filed for Chapter 11 bankruptcy, which protects a company from its creditors while it restructures.

It said the Chapter 11 filing only applies to its US businesses and not its operations in other countries.

"We look forward to emerging with a restructured balance sheet and as a financially stronger organization that is positioned to pursue our growth and transformational initiatives," Reader's Digest president and chief executive Mary Berner said in a statement.

It turns out that CEO Mary Berner is the one that turned over operations to that notorious Curry Den, HCL:

Reader's Digest Association Signs $350mn+ Total IT Outsourcing Engagement With HCL

Remember, HCL is the company that is headed by that fat fuck bigot, Vineet Nayar, who said that "Most American Grads Are ‘Unemployable’."

Here is what some Reader's Digest workers had to say about this "collaborator cunt Mary Berner" (I can't wait until that phrase shows up the next time in Google when Ms. Berner goes ego-surfing):

Not only in USA the employees had to take 5 unpaid days off, worldwide, including in profitable countries. We hate Mary Berner, CEO, she is destroying the company, leading it to a disaster.
Comment by A RD worker - March 5, 2009 at 12:55 am

When is she going to leave the company?
her ego is sooooo big!!!
she took everything from us
we lost talented peoples, skills peoples,
loyal and dedicated workers …
she can go to hell!!!
Comment by Comment by Another RD worker - March 10, 2009 at 9:22 pm

There is a pattern here:

1. Poorly run company is preyed upon by Indian outsourcing jackals.
2. Slumdogs infiltrate company, destroy what is left of operations.
3. Company goes out of business.

As the Industry Standard reported:

Bankrupt U.S. companies were hit by Indian outsourcers...

This blog comment sums up what we Americans should do about companies like Reader's Digest:

Once they outsource to India why should they be allowed full bankruptcy protection? If they aren't employing Americans why should they be given concessions and protection? Moving the opeation that want to move to India will basically make this an Indian company.

If they can't make a go of it here, let them move the full operation to the land of dots and let them eat the losses.


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- Vineet Nayar, CEO, HCL Technologies

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