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The American system is somewhat more tolerant of failure. Bankruptcy allows you to try and negotiate a way out with your creditors to save the business as a going concern.
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I guess the counter to that is if there are really no consequences for their actions, they do what they like and who cares who gets hurt.
Ie the recent banking and housing fiascos.
Not too many of the "entrepreneurs" are suffering.
That said, it does look like Meades problems stem from a different route of trying to release untested new stuff before even fixing/sorting out what they had, ( that gives them their bread and butter ).
Doesnt give one a warm feeling at present.
Andrew