I am reasonably fond of capitalism but events like this certainly give it a bad name.

This company was drowning in debt,had zero earnings visibility and a big pension fund deficit.

It certainly seems reckless at the very least for the CEO who stepped down last year and continues on his near 700k annual salary until August of this year,to increase dividend payments while debt was increasing together with a pension fund deficit.

Practicing capitalism in a reckless fashion does not condemn capitalism for all time...in my view.