The firm blames its bankruptcy on onerous labour contracts, under which it says pilots earn 49% more than their counterparts at big American airlines although America is a rich country and Mexico is not.

ECONOMIST: Mexican airlines

Similarly, it buys most of its films from KirchMedia, which has onerous long-term contracts with most Hollywood studios.

ECONOMIST: Kirch

While at Akin Gump, in the early 1980s, Rogers waded into the fight between natural gas suppliers and pipeline operators, who were refusing to buy gas under onerous "take-or-pay" contracts.

FORBES: A Dirty Game

American companies cannot compete in a global economy when they are burdened with labor contracts that are so numerous, onerous and counter-productive that they make generating a profit an impossibility.

FORBES: More Hostess Liquidation To Come With President Obama's Micro-Unions