Since: Jan 12

Columbus, OH

#324 Nov 23, 2012
Continued

Founded in 1995, Ripplewood manages about $4.0 billion in four institutional private equity funds: Ripplewood Partners, L.P., Ripplewood Partners II, L.P., RHJ International, L.P. and New LTCB Partners C.V. The company invests in education publishing, telecom, automotive retail, specialty chemicals, consumer products & food manufacturing, and industrial products.

Ripplewood has invested in nearly a dozen industry groups and in companies with more than $20 billion of revenue. It has led several of the largest private equity transactions, including its takeover of the Long-Term Credit Bank, renamed Shinsei Bank, which helped restructure the Japanese economy. Collins was named one of the “25 Stars of Asia: Leaders at the Forefront of Change” by BusinessWeek magazine in 2004.[3]

Since: Jan 12

Columbus, OH

#325 Nov 23, 2012
In conclusion, the question should be are these vulture capitalist destroying America one company at a time by buying them up, installing incompetent management, loading them with unmanageable debt, then making a huge profit and closing the doors leaving hundreds of thousands of Americans unemployed and destitute. And are the Rightwing politicians working along side these people doing their part to destroy the safety net from under the American workers when these companies announce mass lay-offs and closings?

It would seem that from all that's been happening in our political discourse and economic standing since the 08' crash, there's a consorted effort by forces unseen to bring about the demise of the America that we grew to know and love. Could this attempt by the GOP and the American/internationalist billionaire conglomerates be the NEW WORLD ORDER that G.H.W. Bush talked about during his 1991 state of the union address? Sure looks like it to me.

Since: Nov 12

Location hidden

#326 Nov 23, 2012
Cleavon Little must be thinking up another name & picture since he hasn't been on lately.

Since: Jan 12

Columbus, OH

#327 Nov 23, 2012
Good is Life wrote:
Cleavon Little must be thinking up another name & picture since he hasn't been on lately.
He's a sore loser. His worldview has been crushed by the American electorate, and living in his isolated state of mind he can't come to grips that his own neighbors voted for Obama.
Here's an ode to Cleavon George Jefferson Kramer Little:

Boy the way Glen Miller played
Songs that made the hit parade.
Guys like us we had it made,
Those were the days.

And you knew who you were then,
Girls were girls and men were men,
Mister we could use a man
Like Herbert Hoover again.

Didn't need no welfare state,
Everybody pulled his weight.
Gee our old LaSalle ran great.
Those were the days.

source: http://www.lyricsondemand.com/tvthemes/allint...

Since: Jan 12

Columbus, OH

#328 Nov 23, 2012
Wait what wrote:
<quoted text>
Yet, many of those working class folks with stagnated incomes are able to afford smartphones, the contract, and the monthly payments to operate said phone. Does not compute.
How do you know that to be a fact for millions of people? You can't throw out generalities and think that's the norm. According to Enzyte Bob, the poor all have free "Obama phones", who is right, you or him?
Life is Good

Delaware, OH

#329 Nov 23, 2012
I wouldn't worry about your post being "Judged" it's the trolls of Cleavon Little doing his dirty work for him.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#330 Nov 23, 2012
WISE AMERICAN wrote:
WHO IS REALLY KILLING AMERICAS JOBS?
Hostess announced Friday that the company planned to liquidate and lay off all of its 18,500 workers, citing an ongoing strike that the company claimed was crippling its operations. On Monday, a bankruptcy judge ordered that Hostess enter into mediation with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, the group representing the striking workers, saying that he had “serious questions as to the logic behind this strike.”
The Teamsters, the other union representing Hostess workers, agreed to major pay and pension cuts in September in an aim to save the company and their jobs, even though they had already taken a hit during the company's first bankruptcy.
Taibbi argued that Hostess’ workers are being forced to take the blame for the poor decisions of the private equity firm that bought the company after its first bankruptcy. The firm, Ripplewood, loaded Hostess with debt, according to The New York Times.
A "private equity firm" seems to be at the heart of many companies going under in the last ten years more frequently now than was the case when Reagan deregulated every industry in the 1980's.
Thank you. What I think many people are missing out on is that the union was not holding out for any increases, crippling or otherwise. They were holding the line against additional concessions in a line of concessions previously accepted in an attempt to save the company.

“Paper Or Plastic?”

Since: Nov 11

Albakoikee

#331 Nov 23, 2012
FKA Reader wrote:
<quoted text>
Thank you. What I think many people are missing out on is that the union was not holding out for any increases, crippling or otherwise. They were holding the line against additional concessions in a line of concessions previously accepted in an attempt to save the company.
You are absolutely right.The role of unions in this day and age is more "try to keep what you have" rather than to seek increases. While Hostess posted earnings of +- 25 billion, they were still seeking additional concessions from hourly workers.

“Ludibrium est onus genio”

Since: Dec 11

Planet Earth

#332 Nov 23, 2012
Against the Rich wrote:
<quoted text>
TonyD2
The more government tries to interfere, the worse it gets and the faster it gets even worse.
I bet if you were in a disaster area, you could not wait for the government yo get there fast enough. Hasn't the rich pilfered from the government the most, wasted the most, filled their stinking pockets full.
If the government didn't take so much, there wouldn't be so much to pilfer.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#333 Nov 23, 2012
WISE AMERICAN wrote:
Continued
Founded in 1995, Ripplewood manages about $4.0 billion in four institutional private equity funds: Ripplewood Partners, L.P., Ripplewood Partners II, L.P., RHJ International, L.P. and New LTCB Partners C.V. The company invests in education publishing, telecom, automotive retail, specialty chemicals, consumer products & food manufacturing, and industrial products.
At one point (I think it was while he was posing as a possible Presidental candidate), Donald Trump was challenged on the number of times he had declard bancruptcy. His explanation seemed to regard bancrupcy just a means of clearing out troublesome debt while hanging onto the goodies in an acquired property.

His terminology was that they "throw it into chapter." He seemed to believe that this was a legitimate tactic of business, completely unconcerned that this would leave many creditors with pennies on the dollar of what they are owed.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#334 Nov 23, 2012
Wait what wrote:
<quoted text>
Yet, many of those working class folks with stagnated incomes are able to afford smartphones, the contract, and the monthly payments to operate said phone. Does not compute.
Wage stagnation is measured by comparing wages in like jobs over years. It has nothing to do with how people spend their money.

And for the record, many people have foregone landlines in favor of cell phones.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#335 Nov 23, 2012
Wait what wrote:
<quoted text>
Given your distaste for those in nice suburbs, it is ironic that you promote such a fiasco which cannot be implemented by any business, provider or practitioner without excessive legal bills - thereby allowing the rich to get richer.
Do you also go stand in traffic so that you can blame cars for hitting you?

My distaste for suburbs has little to do with any personal feeling towards any individuals who live there. It is the fact that suburban bedroom communities exist and have a profound economic impact on the central cities that they leech from. The fact that we have organized our education system around these communities--with a high reliance on property taxes simply exacerbates their impact on growing inequities.

As far as excessive legal bills in order to implement Obamacare--I don't see any evidence that this will be the case.

“Ludibrium est onus genio”

Since: Dec 11

Planet Earth

#336 Nov 23, 2012
WISE AMERICAN wrote:
WHO IS REALLY KILLING AMERICAS JOBS?
Hostess announced Friday that the company planned to liquidate and lay off all of its 18,500 workers, citing an ongoing strike that the company claimed was crippling its operations. On Monday, a bankruptcy judge ordered that Hostess enter into mediation with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, the group representing the striking workers, saying that he had “serious questions as to the logic behind this strike.”
The Teamsters, the other union representing Hostess workers, agreed to major pay and pension cuts in September in an aim to save the company and their jobs, even though they had already taken a hit during the company's first bankruptcy.
Taibbi argued that Hostess’ workers are being forced to take the blame for the poor decisions of the private equity firm that bought the company after its first bankruptcy. The firm, Ripplewood, loaded Hostess with debt, according to The New York Times.
What people fail to realize is that Hostess is not the only company Ripplewood is invested in, and that the reason Hostess was loaded with debt was that it was determined to be the least viable among their holdings, so they loaded it with debt so there would be one bankruptcy, not several. They're sacrificing one to save others.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#337 Nov 23, 2012
Good is Life wrote:
Cleavon Little must be thinking up another name & picture since he hasn't been on lately.
His wife and kids are home for the holidays.

Generally we serve as a surrogate family for him.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#338 Nov 23, 2012
TonyD2 wrote:
<quoted text>
What people fail to realize is that Hostess is not the only company Ripplewood is invested in, and that the reason Hostess was loaded with debt was that it was determined to be the least viable among their holdings, so they loaded it with debt so there would be one bankruptcy, not several. They're sacrificing one to save others.
At the expense of workers and creditors. There will be people out of work and settlements of pennies on the dollar to creditors.

And bonuses to those at the top.
Karl

Medina, OH

#339 Nov 23, 2012
FKA Reader wrote:
<quoted text>
Do you also go stand in traffic so that you can blame cars for hitting you?
My distaste for suburbs has little to do with any personal feeling towards any individuals who live there. It is the fact that suburban bedroom communities exist and have a profound economic impact on the central cities that they leech from. The fact that we have organized our education system around these communities--with a high reliance on property taxes simply exacerbates their impact on growing inequities.
As far as excessive legal bills in order to implement Obamacare--I don't see any evidence that this will be the case.
There you go again, E-Bob is called all sorts of names for using the phrase "leech" but here you say it.

You hate the 'burbs because they are full of conservatives that are mostly white.

The 'burbs pay a big chunk of income taxes to the state of Ohio, which then redistributes them to the poor performing urban districts.

Not to mention that suburban workers in Cleveland, Columbus, are paying income tax to those city governments, but can't vote in those cities.
Karl

Medina, OH

#340 Nov 23, 2012
FKA Reader wrote:
<quoted text>
At the expense of workers and creditors. There will be people out of work and settlements of pennies on the dollar to creditors.
And bonuses to those at the top.
The people at the top are out of a job as well, and their losses are in the millions, the hourly unionized workers are only facing losses in the tens of thousands.

“Ludibrium est onus genio”

Since: Dec 11

Planet Earth

#341 Nov 23, 2012
FKA Reader wrote:
<quoted text>
At the expense of workers and creditors. There will be people out of work and settlements of pennies on the dollar to creditors.
Don't like bankruptcy laws? Eliminate them.
And bonuses to those at the top.
The only way they make money is if the other companies they hold "don't fail" because of their decision.

By the way, someone is going to buy those liquidated assets... and probably make something out of them... and probably hire people in order to do it. You never look at that.

“Don't trust the internet!”

Since: Jan 12

Location hidden

#342 Nov 23, 2012
Karl wrote:
<quoted text>
There you go again, E-Bob is called all sorts of names for using the phrase "leech" but here you say it.
You hate the 'burbs because they are full of conservatives that are mostly white.
The 'burbs pay a big chunk of income taxes to the state of Ohio, which then redistributes them to the poor performing urban districts.
Not to mention that suburban workers in Cleveland, Columbus, are paying income tax to those city governments, but can't vote in those cities.
Karl, if we were to look at the education situation in Franklin County as a whole, it is pretty pathetic. What we tend to do instead is to look at how many high performing districts we have, completely ignoring the reality that the majority of our students go to school in the Columbus district--which performs at a level of mediocrity at best, despite pockets of excellence.

This is hardly the thorough and efficient system that the Constitution of the state calls for. What we have thoroughly and efficiently created is a culture that firmly believes that improvement consists of moving up and moving out. Those left behind are deemed undeserving.

Another term that E. Bob and a lot of others use frequently is the culture of entitlement. This is applied in a completely one-sided fashion to imply that those at the bottom feel "entitled" to something that they do not deserve, meanwhile those immediately above them feel absolutely entitled to better housing, health, employment and education.

Any intentionality to improve the conditions overall are always considered by this group in terms of what they might be asked to give up--never in terms of how a better whole might benefit all--including themselves.

Suburban enclaves do not typically generate anything. They are not historically the sites of industry. They are merely repositories for the wealth (generally stored in real estate) of a class. And that pooling of wealth enables them to ensure a better education (a source of cultural capital) for their offspring, and isolation from others "less fortunate."

“Don't trust the internet!”

Since: Jan 12

Location hidden

#343 Nov 23, 2012
Karl wrote:
<quoted text>
The people at the top are out of a job as well, and their losses are in the millions, the hourly unionized workers are only facing losses in the tens of thousands.
How have they lost millions?

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