The Mudcat Café TM
Thread #52609   Message #806370
Posted By: GUEST
18-Oct-02 - 05:04 PM
Thread Name: Tom Petty-CorporationsKilling America
Subject: RE: Tom Petty
Not much to say, xcept to agree with TP(and you, Jerry), and to say that he has one of the best rock'n'roll bands ever--saw them do the new single on the Today show last Friday, and the music was as good as ever--

Well, maybe I do have something to say--things went bad in the Reagan years when sales, aquisitions and leveraged buyouts began to be they way money was made--instead of companies selling products, the money was made buying , selling, and brokering the sale of companies--

The people who were running things discovered that they could make more money, and faster, if they ignored running the business and concentrated on cutting up the business and selling it off--

The Dot.com thing carried this to the extreme--businesses that had no sales, no markets, no products, but were simply sold and resold themselves, making huge amounts of money for a small group of people, and leaving the rest of us to clean up the economic havoc that they created--

The latest investment catastrophe is coming to a head now--all the overvalued corporations acquired other seemingly profitable corporations in order to siphon off their profits--only thing is that many were doctoring the books to show profits where there were none--