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 16:57 +1100
Message-ID	<dfblq9F57rkU1@mid.individual.net> (permalink)
References	(3 earlier) <1dri1yweok470$.1agjyq9e07269$.dlg@40tude.net> <n6o34n$h3t$1@dont-email.me> <n6p9lf$vuu$1@dont-email.me> <n6pj6o$t52$1@dont-email.me> <n6ppas$lgk$1@dont-email.me>

Cross-posted to 3 groups.

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"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message 
news:n6ppas$lgk$1@dont-email.me...
>
>
> "Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message 
> news:n6pj6o$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.
>
> You should do that.  You referred to it.
>
>>> 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.
>
> Dick Smith isn't involved in any way, and doesn't have any information 
> about the transaction that is not available elsewhere.

But has pointed out the scam involved using that information.

> I haven't expressed any such view, so your surprise is misplaced.  See 
> above.
>
>> Bottom of the harbour was legal too IIRC.
>
> You don't remember correctly.  It was tax fraud.
>
>>> 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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