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Groups > aus.computers > #50126
| From | "Rod Speed" <rod.speed.aaa@gmail.com> |
|---|---|
| Newsgroups | aus.computers, aus.electronics |
| Subject | Re: Dick Smith is the Greatest Private Equity Heist of All Time |
| Date | 2016-01-09 19:33 +1100 |
| Message-ID | <dfbuu3F79huU1@mid.individual.net> (permalink) |
| References | (3 earlier) <1dri1yweok470$.1agjyq9e07269$.dlg@40tude.net> <n6o34n$h3t$1@dont-email.me> <n6p9lf$vuu$1@dont-email.me> <dfbljqF56e3U1@mid.individual.net> <82c19bd2hhhdt7nbo6e4dhuj9aflabm0c7@4ax.com> |
Cross-posted to 2 groups.
"Petzl" <petzlx@gmail.com> wrote in message news:82c19bd2hhhdt7nbo6e4dhuj9aflabm0c7@4ax.com... > On Sat, 9 Jan 2016 16:53:59 +1100, "Rod Speed" > <rod.speed.aaa@gmail.com> wrote: > >>removed aus.politics to many "Fran Farmer" types >> >>"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message >>news:n6p9lf$vuu$1@dont-email.me... >>> >>> >>> "Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message >>> news:n6o34n$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? >> >>Ripping $400M off investors, stupid. >> >>> If the story is true, >> >>It is. >> >>> what was Woolworths doing in selling an asset at a very substantial >>> discount? >> >>They got a lot more for it than it was worth, >>because those ripoff merchants needed that >>to rip that $400M off investors. >> >>>> 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. >> >>No asset stripping whatever involved. >> >>> At this stage, there haven't been any suggestions that there is anything >>> untoward about what was done, >> >>BULLSHIT. >> >>> certainly no criminal offence like a bank robbery, >> >>Still white collar crime and a ripoff. >> >>> other than by those suffering from envy. >> >>Even sillier than you usually manage. >> >>> What no-one will be told as how much the tax-payer obtained. >> >>We'll see... They were with that other private equity heist. >> >>>>> 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. > The owners used creative accounting to fudge a pyramid profit (scheme) > results, There was no pyramid. > claiming profit when it made none, Yes. > and once enough debt was unable to be > repaid to creditors they made their move. There were no creditors that mattered. The problem was that no bank was going to finance their restocking after the utterly obscene result they got. > http://bit.ly/1kUra9J > Rule one in investing in IPO's DON'T if the likes of you > and me can buy them they are not worth buying, Even sillier than you usually manage. The first traunch of the Telstra float was fine. > if any good they are sold out before one can. > Wait for them to appear on market Only someone who didn't have a fucking clue did that with the first traunch of the telstra float.
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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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