Baldwin Laying Off Workers

[Kent Swafford]

On 6/6/01 7:04 PM, "Billbrpt@AOL.COM" <Billbrpt@AOL.COM> wrote:

> Management pledges to work diligently in its effort to reorganize under
> Chapter 11 of the United States Bankruptcy Code.  We anticipate returning to
> our primary business, which is the profitable manufacturing of the world's
> best pianos."



By coincidence, the following is from this morning's (6-6) Kansas City Star,
in an article concerning the recent Chapter 11 filing of a Kansas City
business, Payless Cashways:

"The odds are sky high against Payless or any other Chapter 11 company being
successful.

According to the American Bankruptcy Institute, 85 percent to 87 percent of
companies that go into Chapter 11 do not succeed in reorganizing.

The landscape is littered with failed retail Chapter 11s, including Venture
Stores Inc., Montgomery Ward & Co., Carter Hawley Hale and Service
Merchandise, to name a few."


Best wishes to Baldwin; they need them.

Kent Swafford