Step 1: Start with a large fortune. Hawker-Beechcraft filed a Chapter 11 bankruptcy earlier this week.
Pretty much anyone who gets into aviation for the money is going to rue the day they did so. Note that Beechcraft's creditors will get equity in the company in exchange for what they are owed. Which must please them no end, as you can't exactly by groceries with shares of stock in a bankrupt entity.
Beechcraft is bankrupt and, shocker of shockers, Goldman-Sach's fingerprints were all over the company.
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Saturday, May 5, 2012
4 comments:
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Goldman Sachs makes Bain Capital look like the fucking Red Cross.
ReplyDeleteTheir fingerprints are all over bad stuff - Beechcraft, AIG, Greece.... I'm sure the list goes on and on and on.
Lloyd Blankfein, perp walk, Broadway...... the image makes me drool.
They have an order backlog of over $1B. With a sane debt structure they have plenty of money for continued operations. But of course Goldman-Sachs ran up their debt, took the money, and ran with it, leaving a bankrupt husk behind. The Bain Capital plan.
ReplyDeleteBain learned it from GS. GS has been doing shit like this since they started in 1869, and flew into the stratosphere with it starting in 1930. Bain Capital has only been around since 1984, when it was carved from Bain & Company (started in 1973). Goldman has been ripping people off almost since the start. They were heavily involved (some say they caused) the Commodities Bubble, the Tech Bubble, and the Mortgage Bubble, and we all know how those three came out.
ReplyDeleteGS truly ARE the Masters of the Universe. I'm beginning to think that there's no way to take them down. Also, I think I've become obsessed with them. (lol)
Shame div .....
ReplyDeleteYears ago, I was taught that Beech was a pilot's airplane, Piper a mechanics airplane and Cessna ...... nobody's airplane. Enjoyed 'em all, but Beech was special, 'specially the Bonanzas.
Surely, the employees will get screwed.