How to Make Money: First, start with millions ... by 1KIKI

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How to Make Money: First, start with millions ...

POSTED BY: 1KIKI
UPDATED: Thursday, February 25, 2021 16:48
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Tuesday, February 23, 2021 4:08 PM

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

... then cheat and eat up the little guy.

In this case a chain restaurant Steak n' Shake had significant talks with a lender Fortress Investment Group about borrowing money to convert some of its restaurants to dine-in only rather than dine-in+drive-thru. But the lender kept changing the proposed terms, and the talks fell through. In the process though Fortress got a LOT of confidential information about the company. Fortress then went and bought up Steak n' Shake's loans on the discounted market, in order to force it into bankruptcy and then own the company at a cut-rate price.

(The secondary market seems to be Fortress's MO of acquiring assets. "Fortress in May acquired the burger chain Krystal out of bankruptcy for a $27 million credit bid — the investment firm bought up that debt on the secondary market. It had previously bought the casual dining operator Craftworks in much the same way.")

But by some unexplained miracle Steak n' Shake paid off its debts and turned around and sued Fortress, exposing the tactics in court filings.

This is certainly an interesting look into how today's capitalism functions. Adam Smith would be aghast, I think.

Steak ‘n Shake avoids bankruptcy and sues its lender

https://www.restaurantbusinessonline.com/financing/steak-n-shake-avoid
s-bankruptcy-sues-its-lender

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Wednesday, February 24, 2021 11:31 PM

6IXSTRINGJACK

Good for Steak and Shake.

Amazon and Bezos did the same thing when it was shopping around for its new headquarters.

State legislatures that were interested had to give TONS of information about their state, including things like which areas had future infrastructure plans and were expected to see large population growth (meaning the prices of the property would go up).

What do you suppose a company with the money Amazon has could do with a huge file with all of that information?

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A government is a body of people usually, notably, governed by Mark Zuckerborg and Slack Dorsey.

Collection of links to Second's, Nilbog's and Marcos' death threats: https://cutt.ly/tkCvEX6

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Thursday, February 25, 2021 4:48 PM

SECOND

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/folder/1uwh75oa407q8/Firefly

We turn the spotlight on the dealers in debt who make a profit from the failures of others

"Round-table meetings between all the stakeholders can get quite heated - you see people getting very angry, shouting," Hyde says. "This is not surprising given that somebody who has to accept that they're going to lose all their investment is likely to get emotional."

https://www.theguardian.com/business/2009/jan/27/profit-struggling-fir
ms

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly

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