Dick Smith is the Greatest Private Equity Heist of All Time

[Petzl]

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, claiming profit when it made none, and once enough debt was
unable to be repaid to creditors they made their move.
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, if any good they are sold out
before one can. Wait for them to appear on market
--
Petzl

 

[Pelican]

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
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"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
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"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6pjsr$2m7$3@dont-email.me...
On 9/01/2016 11:13 AM, Fran Farmer wrote:

The exercise was a standard asset-stripping exercise.

Yes. a huge profit in 8 months
Correction: 18 months

Profit =/= bad. Nor is a "huge" profit.

A ripoff is.

Get stung, did you?

 

[Pelican]

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
news:dfblq9F57rkU1@mid.individual.net...

"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.

Yeah, public information.

 

[Pelican]

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
news:dfbljqF56e3U1@mid.individual.net...

"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.

Then those investors who were ripped off will have a remedy, fuckwit.

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.

You mangled that quite well. But it's still bullshit.

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.

So easy to claim. We will see what happens.

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
SmithĄ
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

 

[Rod Speed]

"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6ppct$mdd$1@dont-email.me...

"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6pjsr$2m7$3@dont-email.me...
On 9/01/2016 11:13 AM, Fran Farmer wrote:

The exercise was a standard asset-stripping exercise.

Yes. a huge profit in 8 months
Correction: 18 months

Profit =/= bad. Nor is a "huge" profit.

A ripoff is.

 

[Rod Speed]

"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
SmithĄ
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

 

[Rod Speed]

"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
SmithĄ
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

 

[Rod Speed]

"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
SmithĄ
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

 

[Rod Speed]

"French" <pw_112@gmail.com> wrote in message
news:n6o8c2$11sr$1@gioia.aioe.org...

On 08-January-2016 5:26 PM, Je�us wrote:
On Fri, 8 Jan 2016 11:42:22 +1100, "Vote 99% Greens"
VoxPoop@spammail.com> wrote:


Of all time? Not even close. Not even remotely close.



Pretty damn close though

Pigs arse it is. Enron left that for dead and so do plenty of others.

 

[Rod Speed]

"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
SmithĄ
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.

 

[Pelican]

"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
SmithĄ
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.

 

[Pelican]

"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6qcma$co9$1@dont-email.me...

On 9/01/2016 12:58 PM, Pelican wrote:


"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.

I haven't expressed any such view, so your surprise is misplaced. See
above.

) Woooooosh!

Bottom of the harbour was legal too IIRC.

You don't remember correctly. It was tax fraud.

I do remember correctly. It was legal until 1980.

No. it wasn't. It was tax fraud then, and still is. The legislation you
found on the Wiki specifically targeted the practice, but a conspiracy to
defraud the AAT was nevertheless a tax crime at the time and still is.

 

[Pelican]

"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6qd6n$e6t$1@dont-email.me...

"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6qcma$co9$1@dont-email.me...
On 9/01/2016 12:58 PM, Pelican wrote:


"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.

I haven't expressed any such view, so your surprise is misplaced. See
above.

) Woooooosh!

Bottom of the harbour was legal too IIRC.

You don't remember correctly. It was tax fraud.

I do remember correctly. It was legal until 1980.

No. it wasn't. It was tax fraud then, and still is. The legislation you
found on the Wiki specifically targeted the practice, but a conspiracy to
defraud the AAT was nevertheless a tax crime at the time and still is.

correction : ATO, rather than AAT

 

[Fran Farmer]

On 9/01/2016 6:27 PM, Pelican wrote:

"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6qcat$b9s$4@dont-email.me...
On 9/01/2016 12:59 PM, Pelican wrote:


"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6pjsr$2m7$3@dont-email.me...
On 9/01/2016 11:13 AM, Fran Farmer wrote:

The exercise was a standard asset-stripping exercise.

Yes. a huge profit in 8 months
Correction: 18 months

Profit =/= bad. Nor is a "huge" profit.

Well Dick obviously doesn't approve.

So?

He would know more about it than we do.

 

[Pelican]

"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6qdkp$co9$8@dont-email.me...

On 9/01/2016 6:27 PM, Pelican wrote:


"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6qcat$b9s$4@dont-email.me...
On 9/01/2016 12:59 PM, Pelican wrote:


"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6pjsr$2m7$3@dont-email.me...
On 9/01/2016 11:13 AM, Fran Farmer wrote:

The exercise was a standard asset-stripping exercise.

Yes. a huge profit in 8 months
Correction: 18 months

Profit =/= bad. Nor is a "huge" profit.

Well Dick obviously doesn't approve.

So?

He would know more about it than we do.

And you know that how?

 

[Rod Speed]

"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
SmithĄ
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.

 

[Rod Speed]

"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6qajs$7e9$1@dont-email.me...

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
news:dfbljqF56e3U1@mid.individual.net...


"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.

Then those investors who were ripped off will have a remedy.

Wrong, as always. There is plenty of ripping off which has no remedy,
fuckwit child.

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.

You mangled that quite well. But it's still bullshit.

You never could bullshit your way out of a wet paper bag.

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.

So easy to claim. We will see what happens.

Doesn˙t prove a damned thing about either.

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
SmithĄ
were $94 million, including a $50 million payment on 28 June 2013 and
$24
million in 12 monthly installments commencing July 2013.

 

[Rod Speed]

"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6qan1$7if$1@dont-email.me...

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
news:dfblq9F57rkU1@mid.individual.net...


"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.

Yeah, public information.

Irrelevant to him pointing out that scam/ripoff.

 

[Rod Speed]

"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6qaog$7mb$1@dont-email.me...

"Rod Speed" <rod.speed.aaa@gmail.com> wrote in message
news:dfblr5F57smU1@mid.individual.net...


"Pelican" <water-birds@sea.somewhere.org.ir> wrote in message
news:n6ppct$mdd$1@dont-email.me...


"Fran Farmer" <ask@maybeitwillbeforthcoming.com> wrote in message
news:n6pjsr$2m7$3@dont-email.me...
On 9/01/2016 11:13 AM, Fran Farmer wrote:

The exercise was a standard asset-stripping exercise.

Yes. a huge profit in 8 months
Correction: 18 months

Profit =/= bad. Nor is a "huge" profit.

A ripoff is.

Get stung, did you?

Nope.

 

[Rod Speed]

"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.