Wednesday, Mar 07, 2007
Chickens coming home to roost
Guardian: Private equity predicted to spark company collapses
Another example how complete mismanagement of the economy (and the funding of the labourr party by private equity parasites) is coming back to bite us on the bum. Just more potentially very bad news to turn the outlook sour.
Posted by inbreda @ 10:39 AM (181 views) Add Comment
7 Comments
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1. tyrellcorporation said...
Uncontrolled financial geeks will lay waste to our economy... Very scary stuff.
Anyone else see this idiot Champagne Charlie yesterday?!?
http://news.bbc.co.uk/1/hi/england/surrey/6422215.stm
Made me chuckle...
2. larry pickleman said...
Hadn't even finished the paint job on it either!!...tuh!
3. bidin'matime said...
"Ten years ago a private company would only need to think about its overdraft and bank loans. ....A company subject to a takeover by a private equity firm will find itself with a layer of debtors, all with different rights and expectations. ... If the company gets into trouble it might find itself negotiating with a gang of distressed debt buyers looking for a quick profit. ...When a company fires its first distress signal these creditors may be in line to get 90% of their money back and care little if the whole enterprise goes under."
Yet another sector of the economy living on the edge, then?
4. bidin'matime said...
Oh, and the car - "The 1,000 horsepower Bugatti can accelerate from 0 to 60mph in 2.5 seconds. "
They forgot to mention it can also do 60 to 0mph in 0.5 seconds...
5. paul said...
"They forgot to mention it can also do 60 to 0mph in 0.5 seconds..."
Haha. Very good.
Didn't someone mention that in the eighties these companies used to be called "asset strippers"?
6. Weycresto said...
"Didn't someone mention that in the eighties these companies used to be called "asset strippers"?"
They used to be called asset strippers in the 60's too. Slater Walker and all that, But this modern breed is much worse, these are vultures
sadling businesses with massive debts.
I'm increasingly hearing the sound of pennies dropping all over the country, which will become deafening when people realise that their
"live in cash machines" are not worth as much as they think they are.
7. enuii said...
What next for the easy money economy, can't wait to find out what the next get rich quick 'n' sod everyone else scheme will be!