Smartercharter / Slipper 1
Perhaps the two of you should also yet your facts right.
European's difficulties started long before the date suggested by Smartercharter. In Oct/Nov 2002 the company was on the brink of financial collapse. A proposed sale of the company during 2002 had collapsed. Staff salaries were paid late in each of these months.
The company was rescued by an injection of large amounts of capital by EA holdings Ltd, who have been negotiating to buy the company since then. The failure to secure the additional financing necessary to proceed with this transaction has resulted in the current position.
There is anger directed at Stoddart because he got the company into the mess in the first place. He has taken millions out of EAAC to fund second-rate racing cars. This has added considerably to the company's lack of liquidity.
Everyone at EAAC should have had their salary for March paid into the bank today. Most of us have got nothing. If we are offered our jobs back most people would probably accept in the short term (we have no choice if we have no other source of income - the bills still have to be paid next week somehow). In the longer term I would suggest that most former employees would prefer to have nothing to do with Paul Stoddart ever again.