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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 19:22 +1100
Message-ID <dfbuapF74nqU1@mid.individual.net> (permalink)
References (3 earlier) <1dri1yweok470$.1agjyq9e07269$.dlg@40tude.net> <dfbk6iF4t1pU1@mid.individual.net> <n6q642$sms$1@dont-email.me> <dfbl36F5376U1@mid.individual.net> <n6qaah$6p9$1@dont-email.me>

Cross-posted to 3 groups.

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"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message 
news:n6qaah$6p9$1@dont-email.me...
>
>
> "Rod Speed" <rod.speed.aaa@gmail.com> wrote in message 
> news:dfbl36F5376U1@mid.individual.net...
>>
>>
>> "Pelican" <water-birds@sea.somewhere.org.ir> wrote in message 
>> news:n6q642$sms$1@dont-email.me...
>>>
>>>
>>> "Rod Speed" <rod.speed.aaa@gmail.com> wrote in message 
>>> news:dfbk6iF4t1pU1@mid.individual.net...
>>>>
>>>>
>>>> "Truth and honesty" <TruthandHonesty@bluetooth.com.au> wrote in message 
>>>> news:1dri1yweok470$.1agjyq9e07269$.dlg@40tude.net...
>>>>> On Fri, 8 Jan 2016 17:56:42 +1100, Pelican wrote:
>>>>>
>>>>>> "Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
>>>>>> news:n6nlgs$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.
>>>>>
>>>>> 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.
>>>>
>>>> Still a fucking great ripoff of the investors. Even if they did pay 
>>>> $95M,
>>>> they got $520M in the float, a fucking great ripoff of the investors.
>>>
>>> The main party losing was Woolworths,
>>
>> Bullshit, they got $95 for that steaming turd that was never going to be 
>> viable.
>>
>>> but no-one cares about them.
>>
>> The woolys shareholders do.
>>
>>> The investors should have known what was likely to happen,
>>
>> Easy to claim after the event.
>>
>>> and they took the risk of investing.  It's not as if asset-
>>> stripping by investment bankers is something new.
>>
>> It wasn’t asset stripping.
>>
>>> If public deal was unfair/unreasonable, they have a remedy.
>>
>> Like hell they do.
>
> They can whine.

Nothing even remotely like a remedy. 

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Thread

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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