When corporates make profits they take them away. When they make losses, they expect the fiscal authorities and bankers to fund them. Why should it be so? Valueless managements seem to hold the public institutions to ransom. Airlines in India are a classic example of accumulated non performing assets. Kingfisher Airlines, SpiceJet and Air India- public or private are in the same league. The invoke the 'too big to fail' syndrome or 'employee protection' argument to let this sores fester further. Wounded entities cannot fight a battle for growth. The future generation cannot be responsible for the misdeeds of a corrupt management. Governments and regulators have to enforce business discipline. Let market competitiveness decide. Dilatory tactics at prolonging agony on the part of management must not be encouraged.
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