Posted on 10/10/2007 7:42:50 AM PDT by NativeNewYorker
October 10, 2007 -- Ron Burkle's recent investment in embattled Chinese company Xinhua Finance Media was done at a sharply discounted price, netting the billionaire private-equity investor an instant $50 million paper profit.
According to a filing yesterday from with the Securities and Exchange Commission, Burkle's Yucaipa Cos. paid $3 per share, or $25.7 million, for slightly more than 8.57 million shares.
(Excerpt) Read more at nypost.com ...
Does CA allow for side letters? This allows one person to front for another by ‘buying’ in his name but he issues a letter to the ‘real’ owner acknowledging the latter’s ownership. Another way is for the ‘owner’to take physical delivery of the stock and then he signs a Stock Power in favor of the real owner and delivers the certificate and Stock Power to the real owner.
chinese+money...I’ll wait
Ron Burkle. Huge Democrat financial contributor and Clinton confidante. Not surprising to find him wallowing in suspicious profits from Chinese dealings.
Ron Burkle + Xinhua = $$instant$$ ping.
The disclosure was vague as to the reasoning behind Yucaipa’s move, noting only that the “shares are undervalued by the market at the present time.”
.....
Xinhua Finance Media seeks to become the dominant financial information and advertising services provider for China.
The sellers of the Xinhua Finance Media stock to Yucaipa have been identified in filings only as “existing shares from certain shareholders who have come out of IPO lockup.”
Based on the company’s pre-initial public offering document, insiders held 24.7 million shares.
In May, its Chief Financial Officer, Shelley Singhal, resigned shortly after a Barron’s reporter posed questions about his background as a penny-stock banker.
The No. 2 shareholder at the time, Singhal held 6.6 percent of the company’s stock, or over 6.41 million shares.
Chief Executive Fredy Bush owns 9.36 million shares, according to the filing.
A series of Post investigations into Xinhua’s numerous related-party transactions highlighted some of Singhal’s profitable dealings with several of the company’s subsidiaries.
.....
Thanks for the info.
Want to make sure FReeper Dave-—an expert in this area——gets the info, as well.
Thanks, I was hoping one of you will send it to proper “channels”.
Here is additional info, a “prelude” or “prequel” to this profitable transaction:
http://www.freerepublic.com/focus/f-news/1902852/posts
Ron Burkle alert.
Thanks for the ping.
Another friend of Bill’s, fob, strikes it rich in the sleazy trade with ChiCom companies.
I'm not too high on conspiracy theories, but I sure can recognize orchestration when I see it!!! Now they're tryin to "draft" ALGORE!!!
More Financial Influence At Chez Clinton (Updates)
. . .
The arrangement between the billionaire and the former president -- and hopeful presidential spouse -- allows Burkle to stuff tens of millions of dollars into the bank accounts of the Clintons in return for no significant work on behalf of the fund itself.
The New York Times reports on a highly lucrative position given to Bill Clinton by billionaire financier Ronald Burkle, the man who claims to have been extorted by a New York Post gossip columnist, Jared Paul Stern. Supposedly Burkle got infuriated by reports that he would be purchasing a modeling agency for the former president to oversee, and the Post columnist required over $200K to keep any other salacious rumors from reaching Page 6.
However amusing the proposition of Bill Clinton working in modeling agency may be, the Times uncovers a more problematic relationship between Burkle and Clinton given the likelihood of a Hillary Clinton presidential run:
If we can survive another 3 or so years, the MSM will be gone as we know it now.
They will no longer be able to protect the rat criminals when they break laws and hang republicans when they did nothing.
There are days when I honestly wonder if we can make it that long! Today, with the Dems trying desperately to make Turkey pist at US and the MSM barely covering it so as not to make the American People pist, is one of those days!!!
They are absolutely crazy to cause US to lose not only Iraq, but the entire WOT along with oil price stability which can cause total disruption to our economy!!! But the stupid Dems are insane!!!
Furthermore... They’re both so obsessed with their sucky social programs that they feel they are being robbed by the “bumpersticker” wars and will NOT stop till they teach their fellow Americans the folly of not only ALL wars, but worrying about price stability in energy, too!!!
Rush noted last week, that the Rats really haven’t done that well in national elections with the exception of the Clintons.
Take away the MSM and their ability to lie and coverup their criminal activities, and they are head for real political trouble.
Thanks for the encouragement. I really like you new tagline, too!!!
They are not as strong as they portray themselves.
Re the tag line, it seemed appropriate.
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