Article

2020-01-16 Economy

Nobody Makes Money Like Apollo's Ruthless Founder Leon Black

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Posted by Besoeker 2020-01-16 08:11|| || Front Page|| [14 views ] Top

#1 I fail to see how any of this is predatory. Black did not take on the underlying debt in question, then keep doubling down until the situation was beyond any salvage. The former management did that, he found a way to take current reality and make something of it.

Short story long, he didn't destroy the companies, former management did. There is this whole entire funny thing known as mathematics and past a certain point there is no return. You don't need an MBA or to have gone to Stanford, a legal pad and calculator will do.

If you're interested in predatory, how about the degenerate swine Corzine? The crimes he committed were first codified by Hammurabi for God's sake.

Posted by Cesare 2020-01-16 08:46|| 2020-01-16 08:46|| Front Page Top

#2 Other Peoples Money(1991). If you think that every failing company ~~should~~ must be saved then you are either a Socialist or just an idiot.

Posted by magpie 2020-01-16 09:37|| 2020-01-16 09:37|| Front Page Top

#3 Paying himself dividends from a failing business is clearly predatory. Aka looting.

Posted by Lex 2020-01-16 10:05|| 2020-01-16 10:05|| Front Page Top

#4 I'd ban dividends from any company with net debt.

Posted by Bright Pebbles 2020-01-16 11:36|| 2020-01-16 11:36|| Front Page Top

#5 /\ +1000, BP! Pay off the creditors first or its theft.

Posted by magpie 2020-01-16 11:47|| 2020-01-16 11:47|| Front Page Top

#6 #3 That sounds great and makes sense and I'm certainly for it. But here's the deal, we are idly chatting online and rapidly reached that conclusion. Debt agreements are individually tailored, and the more distress in the mix the more individual the document.

If a bunch of anonymous guys can spitball the solution in moments, what in the wide world of jurisprudence is wrong with their legal counsel?

Let's also keep in mind that practically speaking extending the already hopeless situation may not even be open to discussion if the beggar thinks they can dictate.

Posted by Cesare 2020-01-16 13:10|| 2020-01-16 13:10|| Front Page Top

#7 re: #6 & #3

Sounds good at this level but what is the unintended consequence? No one buys the company?

You have to remember that if you change one variable the whole equation will change.

Posted by AlanC 2020-01-16 14:48|| 2020-01-16 14:48|| Front Page Top

#8 There is an enormous amount of people that want to ban things...

Posted by Spanky Whuter1088 2020-01-16 17:15|| 2020-01-16 17:15|| Front Page Top

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