It was a big splash when news of the bankruptcy filing broke. Serta, of course, is a well-known mattress company, around since 1931. [Not a year full of economic optimism -- it must have taken some contrarian gumption to start it then.] Whatever mattress you use at home, dear reader, you have almost certainy slept on a Serta if you have spent a night at a Hilton or Wyndham. Anyway, back in 2020 the company was in trouble, and it executed what became a very controversial transaction to lessen its total debt burden It is called an uptier deal, because it allowed certain favored creditors to move up on the capital stack, to end up that I which positions more senior than they had before. The creditors who had been excluded from this deal cried bloody heck. They had reason to be worried. The creativity that deal showed did not in fact rescue the company from its woes and in early 2023 it filed for bankruptcy court protection. A lot else has happened in the thr...
Steven Louis Reynolds passed away last month, (March 21) in Salt Lake City, of complications related to Parkinson’s disease. His fine 2017 book, Knowledge as Acceptable Testimony took a social view of what we mean by knowledge. Sorry, Descartes, but someone sitting at a desk alone determined to figure out whether he knows anything has already lost the battle. Knowledge only has meaning and 'knowledge' only has meaning within a world populated by other people in which such affiliated ideas as 'acceptable testimony' make sense. Reynolds received his PhD from UCLA and he spent more than three decades teaching philosophy at Arizona State University. I did a search of his name looking for photos. I persistently got one of him standing in a cave, which accordingly I have used. Was he a spelunker on his spare time or was he making a sly point about Platonism? Either way: rest in peace, professor.