Vidi
CDZ prohibited
Venture capitalists do, but corporate raiders do not.
This was clearly not a raid.
Don't expect Lak-an-i-hota of brains to answer. He is probably still looking up the term in a dictionary (and holding it upside down).
Borrow money to buy a company, buy compnay, place the debt for the borrowed money onto the company you just bought, fire workers or move the jobs out of America, then decalre bankruptcy so the goverment steps in with tax payer money to bail out the pension funded to the tune of 44 million dollars, you make 12 million.
Hmmmm...Sounds more like socialism to me.
No.
Buy controlling interest in company for next to nothing (there is a hint there). This includes a grossly underfunded pension which you are not responsible for.
Company has 18 to 24 months to live.
Borrow 100 million and pump it up.
Company lives for eight years. Does reasonable for a while.
Market goes soft
Company goes bankrupt. Workers lose jobs they were going to lose anyway.
About the same time you buy into this one, you help out a place in Indiana for about the same amount. In 2000, you sell your share for roughly 7 times what you paid in.
Liberals need an excuse to piss and moan because current sitting moron in chief has no record to run on (unless you call record debt something of an accomplishement).
Keep trying, I am enjoying this.
fabrication.
After its initial $8 million investment, the new company issued $125 million in bonds — paying $65 million to stockholders in 1994, according to GS Technologies Operating Co. filings with the Securities and Exchange Commission. Bain collected a $36.1 million dividend, according to Reuters.
GS Technologies announced plans to spend $98 million modernizing the Kansas City plant and in 1995, issued another $125 million in bonds to pay for a merger with another wire rod maker in South Carolina. Bain reinvested $16.5 million of its earlier dividend, Reuters wrote.
GST’s total debt in 1995: $378 million.
"After quickly raising profits, (Bain) had the company, less than one year after the buyout, borrow another $61 million to pay themselves a dividend. This left little room for error as profit, $32 million in 1995, could barely cover the increased interest expenses, rising from $9 million to $24 million," Kosman told us in an email.
"Even when profits fell below interest payments in 1998 and 1999 due to cheap imports, there was enough operating profit to survive if not for the interest expense."
In its 2001 bankruptcy filing, GS Industries listed total debts of $554 million.
PolitiFact | Obama ad claims Romney, Bain left misery in wake of GST Steel takeover
Bain didnt invest $100 million dollars. They invest 8 million dollars then racked up 100's of millions in debt.
Yes, the steel industry is tough business. But so is running the ONLY superpower in the world.
And THIS is the guy you want to fix the deficit spending? riiiiiiiiight.
Try again. Youve been debunked
Last edited: