Posted on 12/04/2019 6:07:44 PM PST by Hojczyk
Instead the model is ruthless economic efficiency: buy a distressed company, outsource the jobs, liquidate the valuable assets, fire middle management, and once the smoke has cleared, dump what remains to the highest bidder, often in Asia. It has happened around the country. It has made a small number of people phenomenally rich. One of them is a New York-based Hedge Fund manager called Paul Singer, who according to Forbes has amassed a personal fortune of more than $3 billion dollars.
Singer made a lot of his money by purchasing sovereign debt from financially-distressed countries, usually at a massive discount. Once a country’s economy regained some stability, Singer would bombard its government with lawsuits, until he made his money back with interest. The practice is called vulture capitalism — feeding off the carcass of a dying nation. In some ways, it’s not so different from what Singer and his firm, Elliott Management, have done in this country. Over the past couple of decades,
Elliott has made billions by buying large stakes in American companies, firing workers, driving up short-term share prices, and in some cases, taking government bailouts. Bloomberg News has described Singer as “the world’s most feared investor,” which tells you a lot. No one’s even pretending Paul Singer’s tactics are good for anyone but Paul Singer and his fund.
(Excerpt) Read more at realclearpolitics.com ...
You need to know that I have read a lot of books and studied history long before watching TV documentaries. Feel silly now?
“We are fro the rule of law. Did they break any?”
We’re also for morals aren’t we? Doesn’t basic decency matter?
He didn’t steal anything. He bought stock.
Cabelas is a retail store. On a downward slide they merged with Bass and Bass did a reorg which means some locations and offices closed.
Nothing nefarious here.
You may as well blame Bass for the reorg, or blame the owners for going public, which would’ve netted them quite a bit of cash. Are you upset over their “greed”? And how many tears would you shed if the entire enterprise fell apart and Singer lost his investment? In that case all stores would be closed.
When companies go down, some are going to get hurt and some won’t. That’s life.
As I understand it, the owner was in place when they merged with Bass. That was encouraged by singer.
The company was in trouble and singer demanded a sale. What would you do in that case? You can’t make retail sales appear by magic. When in trouble you can basically reorg, sell, or close down.
Either option leads to some locations and offices closing. That’s the breaks.
Singer would not have been able to make any demand if he did not have that public stock. That’s the point you’re ignoring.
“ You need to know that I have read a lot of books and studied history long before watching TV documentaries. Feel silly now?”
No, not at all. Reread your post. Perhaps you should’ve mentioned more than what Hollywood churns out in your original post.
I'm glad President Trump cares about Americans and doesn't share your attitude.
Grow up. Sometimes bad things happen in life.
I guess you believe if we drop the free market and go communist, there will be no sad stories.
Interesting you mention Trump. You think “Free market bad”.
Free Market...
Do you really think we have a true free market?
Do you think a true free market is a good thing?
Yeah, you're one of them, you commie lover. I happen to like what President Trump is doing in protecting Americans and American jobs and companies. You keep on liking your Chinese crap.
Not entirely free market thanks to devolving to communism. And yes more free market is better.
Your a child and don’t even have good reading comprehension. Give up on the sight words and relearn to read phonetically. That’s why we have an alphabet.
Listen sonny boy, I’ve been around a lot longer than you and you need to grow up. Your rudeness is typical of millennials.
Typical of millennials: "Your" instead of "You're" or "You are". Go back to school and pay attention this time, your grasp of English is terrible.
Ha Ha, you got me there.
I can correct my typos.
You can’t correct your stupidity though.
I didn't get you there, you got yourself there with your poor grasp of grammar. In the immortal words of Forrest Gump, "stupid is as...". Bye.
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