Re: Dick Smith is the Greatest Private Equity Heist of All Time

From	"Rod Speed" <rod.speed.aaa@gmail.com>
Newsgroups	aus.computers, aus.electronics, aus.politics
Subject	Re: Dick Smith is the Greatest Private Equity Heist of All Time
Date	2016-01-09 16:55 +1100
Message-ID	<dfblmrF5752U1@mid.individual.net> (permalink)
References	(2 earlier) <n6nmea$arr$1@dont-email.me> <1dri1yweok470$.1agjyq9e07269$.dlg@40tude.net> <n6o34n$h3t$1@dont-email.me> <n6p9lf$vuu$1@dont-email.me> <n6pj6o$t52$1@dont-email.me>

Cross-posted to 3 groups.

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"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message 
news:n6pj6o$t52$1@dont-email.me...
> On 9/01/2016 8:30 AM, Pelican wrote:
>>
>>
>> "Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
>> news:n6o34n$h3t$1@dont-email.me...
>>> On 8/01/2016 6:06 PM, Truth and honesty wrote:
>>>> On Fri, 8 Jan 2016 17:56:42 +1100, Pelican wrote:
>>>>
>>>>> "Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
>>>>> news:n6nlgs$r1p$4@dont-email.me...
>>>>>> On 8/01/2016 11:42 AM, Vote 99% Greens wrote:
>>>>>>> Posted on 29 Oct 2015 by Matt Ryan
>>>>>>>
>>>>>>> Dick Smith is the Greatest Private Equity Heist of All Time
>>>>>>> Want to know how to turn $10m in to $520m in less than two years?
>>>>>>> Just
>>>>>>> ask
>>>>>>> Anchorage Capital. The private equity group has pulled off one of 
>>>>>>> the
>>>>>>> great
>>>>>>> heists of all time, using all the tricks in the book, to turn Dick
>>>>>>> Smith
>>>>>>> from a $10m piece of mutton into a $520m lamb.
>>>>>>
>>>>>> Thank you for a very interesting post.  I'd heard part of that on the
>>>>>> radio so it was fascinating to see more detail.
>>>>>
>>>>> Always good to see a new fiction writer emerging.
>>>>
>>>>
>>>> You are not wrong, its mainly fiction.
>>>
>>> So why is even Dick Smith commenting on the greed of the private eqity
>>> group owned it for 18 months and floated it for $400 million mroe than
>>> they bough it for?
>>
>> Where does greed come into it?
>
> I assume that Dick thinks a $400 million profit in 18 months is greedy, 
> but you'll have to ask him to know what he had in mind.
>
> If the story is true, what was
>> Woolworths doing in selling an asset at a very substantial discount?
>>
>>> If you think that's not a huge heist, can I join in your next bank
>>> robbery?
>>
>> The exercise was a standard asset-stripping exercise.
>
> Yes.  a huge profit in 8 months.
>
> At this stage,
>> there haven't been any suggestions that there is anything untoward about
>> what was done, certainly no criminal offence like a bank robbery, other
>> than by those suffering from envy.
>
> Really?  I doubt that Dick smith is green with envy but not surprised that 
> you wouldn't think there was anything untoward.  Bottom of the harbour was 
> legal too IIRC.

Like hell it was.

>> What no-one will be told as how much the tax-payer obtained.
>>
>>>> http://www.applianceretailer.com.au/2013/07/lqynkbiver/#.Vo9foLND4Wm
>>>>
>>>> Woolworths confirmed that the “total proceeds from the sale of Dick
>>>>  Smith”
>>>> were $94 million, including a $50 million payment on 28 June 2013 and
>>>> $24
>>>> million in 12 monthly installments commencing July 2013.
>>>
>>>
>

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Dick Smith is the Greatest Private Equity Heist of All Time "Vote 99% Greens" <VoxPoop@spammail.com> - 2016-01-08 11:42 +1100
  Re: Dick Smith is the Greatest Private Equity Heist of All Time SolomonW <SolomonW@citi.com> - 2016-01-08 16:54 +1100
  Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-08 17:40 +1100
    Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-08 17:56 +1100
      Re: Dick Smith is the Greatest Private Equity Heist of All Time Truth and honesty <TruthandHonesty@bluetooth.com.au> - 2016-01-08 18:06 +1100
        Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-08 21:33 +1100
          Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 08:30 +1100
            Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-09 11:13 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-09 11:25 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 12:59 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:57 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 17:55 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 19:27 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-09 18:22 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 18:27 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-09 18:44 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 18:46 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 12:58 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:57 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 17:54 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 19:27 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Fran Farmer <ask@maybeitwillbeforthcoming.com> - 2016-01-09 18:28 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 18:37 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 18:38 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:55 +1100
            Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:53 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 17:53 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 19:26 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time Petzl <petzlx@gmail.com> - 2016-01-09 18:18 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 19:33 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Petzl <petzlx@gmail.com> - 2016-01-09 21:24 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-10 08:34 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Petzl <petzlx@gmail.com> - 2016-01-10 10:13 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-10 15:34 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time Petzl <petzlx@gmail.com> - 2016-01-10 15:59 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-10 17:05 +1100
        Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:29 +1100
          Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 16:36 +1100
            Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:45 +1100
              Re: Dick Smith is the Greatest Private Equity Heist of All Time "Pelican" <water-birds@sea.somewhere.org.ir> - 2016-01-09 17:48 +1100
                Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 19:22 +1100
      Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:28 +1100
  Re: Dick Smith is the Greatest Private Equity Heist of All Time Jeßus <j@invalid.lan> - 2016-01-08 18:26 +1100
    Re: Dick Smith is the Greatest Private Equity Heist of All Time French <pw_112@gmail.com> - 2016-01-08 22:00 +1000
      Re: Dick Smith is the Greatest Private Equity Heist of All Time Jeßus <j@invalid.lan> - 2016-01-09 08:03 +1100
      Re: Dick Smith is the Greatest Private Equity Heist of All Time "Rod Speed" <rod.speed.aaa@gmail.com> - 2016-01-09 16:48 +1100

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