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Wednesday, December 04, 2019

How "financial efficiency" kills civilization

How a Republican vulture capitalist killed a Nebraska town:
Major Republican donor Paul Singer has very few fans in this town of 6,300 people, where 80 percent of voters backed Donald Trump in 2016.

“I hope Paul Singer is proud of what he did,” Tim O’Connell, a local lumberyard owner, told Tucker Carlson Tonight. “I don’t know how he sleeps at night.”

O’Connell and many other residents are still suffering from the loss of sporting goods retailer Cabela’s, which kept its headquarters in Sidney until it merged with Bass Pro Shops in 2017.

The town’s mayor, Roger Galloway, told Tucker Carlson Tonight that the merger cost Sidney 2,000 jobs.

The sale of Cabela's to Bass Pro Shops was announced in 2016, a year after Singer’s Elliot Management disclosed an 11 percent stake, and said Cabela’s should explore a possible sale. Singer has earned the title of the “world’s most feared investor” and became a billionaire through tactics described as “vulture capitalism."

After the sale announcement, the stock price surged and Singer’s hedge fund cashed out within a week. Elliott Management reportedly made at least $90 million.

“They got in there to get the business sold and the business was sold, so they took it and ran,” Damien Park, managing partner at consulting firm Hedge Fund Solutions, told the Omaha World-Herald in October 2016.  “They made a fortune, so they’re happy.”

The residents of Sidney, however, were left without the town’s major employer.
It's important to remember that the financial benefits of capitalism come with certain costs, and the rewards are not always net beneficial to society. One should always recall that the preamble to the U.S. Constitution does not indicate that its purpose is to maximize gross national product or the sum total of societal wealth.

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116 Comments:

Blogger Brett baker December 04, 2019 7:03 AM  

I believe the purpose of the country is to maximize GDP is part of The Zeroth Amendment.

Blogger Rob December 04, 2019 7:07 AM  

What kind of name is Singer?

Blogger David The Good December 04, 2019 7:17 AM  

This is why a free society must be based on Christianity. There is no other system capable of properly defining and restraining the evil in men's hearts.

Blogger John December 04, 2019 7:19 AM  

If Paul Singer were really interested in the old fashioned "social contract" - he would not have done what he did.

The Elite need to return Christ mend the damage caused to society from this type of immorral decisions.

Blogger VFM #7634 December 04, 2019 7:30 AM  

"Major Republican donor" Paul Singer is also a NeverTrumper, AFAIK. Quelle surprise.

Blogger Skyler the Weird December 04, 2019 7:33 AM  

People are tiring of the sans-culluttes

Blogger basementhomebrewer December 04, 2019 7:41 AM  

Constitution does not indicate that its purpose is to maximize gross national product or the sum total of societal wealth.

When it comes to venture capital it's hard to argue they are even accomplishing those two things. More often than not, as appears to be the case here they completely divest themselves of the company for a huge gain for themselves. The reason they do that rather than build an empire of
profitable businesses is because they know they did what unscrupulous house flippers do.

They covered up and painted over all the bad parts of the business, in many cases they actually made the rot worse, sometimes much worse, but in the short term everything appears to be in great shape with no obvious damage.

I expect Bass Pro and Cabela's will fall on hard times within the next 5 years due to all the "help" Cabela's got from Elliot Management.

Blogger Shane Bradman December 04, 2019 7:52 AM  

Yet another field that turns evil without God. Depressing since it's my field.

Blogger Unknown December 04, 2019 7:56 AM  

This happens as frequently as a shooting in south Chicago. The Federal Reserve (US Government) thru it's imposed distortion with pushing interest rates to 0, have created the fuel, cheap money, that allows these hedge funds to gut and destroy businesses every day. With cheap borrowed money, the hedge funds come in slash the company and put lipstick on a pig so they then sell to buyers flush with dollars that can't earn a yield and gamble on these companies. This whole process is the result of government interference in the cost of money.

Blogger Crave December 04, 2019 7:56 AM  

Sounds like a talk I recently had with my son when I explained to him that just because you can do something doesn't mean you should do it.

Blogger mmaier2112 December 04, 2019 8:06 AM  

Wall Street is a perverse place, with warped incentives. Reading "The Number" has convinced me that private sector accounting has nothing to do with the Truth.

Blogger Felix Bellator December 04, 2019 8:06 AM  

The citizens of Sindey, the state of Nebraska, and surrounding states made Cabela's worth buying. Then these vultures crap all over that. Our family has done business with Cabela's for fifty years or more. But, Bass Pro Shops, et al., will no longer be getting any of our business.

Blogger CynicalMan December 04, 2019 8:07 AM  

Ahh! Is somebody looking for some social justice? Eighty-nine percent of the stock was in the hands of others, do they not deserve some of the responsibility. Poor decisions on the part of Cabela's management put the company in a poor position, how much stock was in their collective hands?

Blogger Sillon December 04, 2019 8:14 AM  

Rob wrote:What kind of name is Singer?

Singer was born in 1944, and grew up in Teaneck, New Jersey in a Jewish family

(((Every... single... damn... time)))

Blogger peacefulposter December 04, 2019 8:14 AM  

In my case, our senior management sold the company to a competitor, cashed out for millions while the rest of us were let go.

The company was doing well and was quite profitable. There was absolutely no need to sell it.

Blogger Rocklea Marina December 04, 2019 8:17 AM  

Would a single employer town "cash out" for four and half grand each? These kinds of towns need to form co-ops.

Blogger Desdichado December 04, 2019 8:18 AM  

Rob wrote:What kind of name is Singer?
The same kind of name as Hollywood gay child molester (((Bryan Singer.)))

Blogger James Dixon December 04, 2019 8:19 AM  

> What kind of name is Singer?

Do you really have to ask? Wikipedia hasn't gotten around to hiding it for him yet.

"Singer was born in 1944, and grew up in Teaneck, New Jersey in a Jewish family..."

Blogger Valley Forge Patriot December 04, 2019 8:21 AM  

"Nothing personal, it's just business..."

Blogger dc.sunsets December 04, 2019 8:39 AM  

Borrow $1m, spend $1m and you get:
$1m in GDP each time that $1m changes hands in the economy.
Another $1m on the debtholder's balance sheet.

Two (or more) for one. Why, it's a perpetual motion machine!

This proves that economists, for all their abstruse econometric computer calculations, cannot do elementary mathematics. Or else it proves that the entire profession is a fraud, an industrial-scale rationalization for asset-strip-mining an entire society.

The people who will destroy a town in favor of "economic efficiency" will destroy a nation to do it...

...and they have. While we WATCHED. [Of course, we weren't watching the thieves steal us blind, deaf and dumb, we watched ABC's Friends, Sunday Night Football, HBO's GoT and the monthly statement for our 401(k)'s.]

Our entire society is one vast self-destructive vice.

Blogger NRx December 04, 2019 8:40 AM  

I watched the Tucker clip on this guy and it sounds like his business model depends upon government bailouts (as did Shit Romney's Bain Capital, Romney was brought in as a founder because of his old man's government connections) and all government bailouts have been bad with the exception of bailing out the automakers and only because if they were allowed to just fail utterly Rust Belt unemployment rates would have spiked to perhaps 40-50%.

And even then the bailouts should have been far more draconian as the objective was only to contain collateral damage to the rest of the economy... management should have all been fired and the shareholders wiped out though as a condition of the bailout and the workers should have been forced to dissolve the UAW within the plants... generally when capitalism is allegedly causing problems if you dig deep enough socialism is to blame as you can see in this case with his parasitic business model depending upon bailouts and lobbying for various other favors from the Federal government.

The trajectory of Argentina's economy since Peron seems to demonstrate that right wing socialism is only marginally more successful (while far less bloody) then left wing socialism. The problem is not capitalism but social democracy. Women are not capable of wielding the franchise responsibly and Republic's don't scale. Trump seems to think as I do, he does not seem to have any sympathy for this so called right wing anti-capitalism but he relentlessly (the cucks and democrats are right about this even if they don't really believe in Democracy either, in fact the cuckservative weak right is the only group that really truly believes in it) works to delegitimize social Democracy.

Blogger Weak December 04, 2019 8:40 AM  

A town of six thousand people, a third of whom work for a single employer, in the corporate headquarters of company second tier in its field. Wasn't this inevitable at some point?

Either they would get bought out by someone (probably BPS anyway), or they would slowly slide into bankruptcy and oblivion. Either way, this was the end game. Is the problem just that the Singer's were colossal dicks about it?

Blogger They Call Me Doctor Love ಠ_ಠ December 04, 2019 8:41 AM  

(((Singer)))

“If you hear that Caesarea (a symbol of gentile power) and Jerusalem (a symbol of jewish power) are both in ruins or that both are flourishing peacefully, do not believe it. Believe only a report that Caesarea is in ruins and Jerusalem is flourishing or that Jerusalem is in ruins and Caesarea is flourishing”. Talmud, Tractate Megilla 6a.

Blogger An Orthodox Christian December 04, 2019 8:41 AM  

Probably a rhetorical question, but (((Singer))).

Blogger American Spartan December 04, 2019 8:46 AM  

(((singer))) every, single, time.

Blogger L December 04, 2019 8:49 AM  

My wife works at a Bass-Pro, formerly Cabela's, distribution center. The transition has been from a decent management that took care of its employees to a cold-blooded, nickel-and-dime management. I guess it's the difference between family-owned and corporate-owned.

Blogger David Ray Milton December 04, 2019 8:50 AM  

@David The Good

Indeed. A society free from sinful passions, not free to engage in such passions.

I saw a twitter poll sent out by some libertarian the other day asking if sending minors porn through email should be legal since a restriction would restrict people’s “rights”? This was actually a topic of debate for him.

Blogger Damelon Brinn December 04, 2019 8:57 AM  

"Major Republican donor" Paul Singer is also a NeverTrumper, AFAIK.

Ah, so that first line is a lie meant to make you think someone close to Trump betrayed his voters. Checking URL....Fox News. Checks out.

Blogger Linda Fox December 04, 2019 9:07 AM  

My husband love the Hallmark Channels (yeah, I know), and a popular theme is how destructive of the character of these small cities/towns the venture capitalists can be. On one hand, it is a boon to the sellers - often local residents who want to cash out and retire. But, the takeover from afar causes loss of local jobs, changes that may not be in the interest of local interests, and - too often - later failure of the business.

Blogger Requited Hate December 04, 2019 9:07 AM  

Bass Pro bought the retail stores of Cabela’s and kept them open. They are not the villain. Singer profited off of selling Cabela’s bank and real estate holdings.

Blogger Scuzzaman December 04, 2019 9:13 AM  

Weak;

It is inevitable that evil will come, but woe to that man by whom it comes.

Don’t be that man.

Blogger Robert What? December 04, 2019 9:14 AM  

(((Singer))) destroys a Goy town. What a surprise.

Blogger Azure Amaranthine December 04, 2019 9:17 AM  

"This proves that economists, for all their abstruse econometric computer calculations, cannot do elementary mathematics. Or else it proves that the entire profession is a fraud, an industrial-scale rationalization for asset-strip-mining an entire society."

Made this point a while back. GDP is a fundamentally dishonest metric. It treats government expenditure as if it were gain or production. It's just a symptom of our fundamentally dishonest monetary system that treats debt as value. "If they can write off debt as profit, why can't I?" Cue the parasite pile-on.

"Of course, we weren't watching the thieves steal us blind, deaf and dumb, we watched ABC's Friends, Sunday Night Football, HBO's GoT and the monthly statement for our 401(k)'s."

Circuses and the promise of future bread.

"Our entire society is one vast self-destructive vice."

Everything necessarily serves a master. If it isn't explicitly God, it's implicitly infernal with perhaps a slight time-delay.

"A town of six thousand people, a third of whom work for a single employer, in the corporate headquarters of company second tier in its field. Wasn't this inevitable at some point?"

You're saying "Competition is bad, 'mkay?" Monopoly much? If it turns a profit its demise is not inevitable. This didn't happen because it didn't turn a profit. This happened because people higher up the food chain wanted to get rich quick, and they flayed those lower down to do it.

Blogger Azure Amaranthine December 04, 2019 9:20 AM  

"This was actually a topic of debate for him."

Ask him if sending him aerosolized heroin in the the mail, set up to spray a bit into the air when the unmarked box is opened sounds like something he would be behind.

Blogger RC December 04, 2019 9:20 AM  

Tucker is a stud. He made it big and is willing to risk it for truth.

Blogger SemiSpook37 December 04, 2019 9:22 AM  

Yesterday was the official first anniversary of my current employer being acquired by another firm; the acquiring firm is a major defense contractor that provides specific goods, but was not a player in my company's area of expertise. The expectation was that they would be able to retain the talent (of which there was a significant amount), but when the founders, president, and various team leaders leave within a month of the acquisition and leave a significant gap in leadership, it tends to trickle down to us worker bees that the top level management doesn't seem to have a clue of what they're doing, especially when it comes to trying to retain talent.

Guess that's why I'm moving on after I get some administrative stuff in order. Shame. There's a lot of opportunity here, but given that we have a similar kind of (((leadership))) at the top as previously discussed, it's clear that buying your expertise without a solid business plan in place is no way to run a business effectively.

Blogger Argus Bacchus December 04, 2019 9:22 AM  

"But as it is, our existence is secured at an infinite expense of special effort on our part, and of peculiar discomfort to you. Wherever the Jew is found he is a problem, a source of unhappiness to himself and to those around him."

Maurice Samuel, "You Gentiles"

No shit.

Blogger qualitycontrol December 04, 2019 9:55 AM  

Isn't Paul Singer the guy that donated millions to the republicans in order to make them pro gay?!

Blogger Richard Rahl December 04, 2019 10:07 AM  

I don't know how Tucker Carlson still works for Fox. He is most certainly Unauthorized for running an entire segment on this guy.

Blogger grendel December 04, 2019 10:11 AM  

The merger has gutted Cabela's stores. Instead of a wide selection of quality items, they've skeletonized the inventory to make room for a giant "Shitty Chinese toys from Wal-Mart" section. And there are more people trying to sell you a credit card than a rifle.

Blogger Nate December 04, 2019 10:38 AM  

That was a fascinating piece that Tucker did last night... because it completely exposes the whole system in such a way that everyone can easily understand.

There are no graphs or charts or complicated systems or terms you have to learn to understand what happened. One asshole bought a ton of stock in one company... raised a bunch of hell immediately for that company to merge... all that hype drove the stock up... and he sold out before the merger even happened... leaving a totally destroyed company that we all used to know and love.

And now... every time we see a "Bass Pro Shop/Cabelas" we will remember.

Blogger James Dixon December 04, 2019 10:41 AM  

> Bass Pro bought the retail stores of Cabela’s and kept them open. They are not the villain.

Really? See comment #40. No, they aren't the major villain. Their role is merely as a bit player, but they do that well.

Blogger rcocean December 04, 2019 10:48 AM  

An economist with a safe job at a think tank or university will tell you that Singer somehow makes the economy "More efficient". For some reason, we can't make Academia more "efficient" or the law "More efficient" by hiring some low cost Indian economists or Lawyers.

Blogger rcocean December 04, 2019 10:50 AM  

Paul Singer is a big donor, and a big reason the Republican party supports globalism and Open borders.

Blogger kurt9 December 04, 2019 10:56 AM  

This is a typical example of how private equity firms work. It is appropriate to call them "vulture" capitalists because they will buy up a company, usually with leveraged money, then essentially loot the company of its value. This is the motivation behind the "buy back" phenomenon that is responsible for much of the recent gains in the stock markets.

It is worth noting that even though we had some of this financial gamesmanship at the end of the 80's (Michael Milken's junk bonds), the private equity thing didn't really take off until Greenspan started pumping the markets full of money in the mid 90's and Bill Clinton cutting a deal with the GOP to deregulate the investment banking scene in 1998. It was also in 1998 that Greenspan's FED bailed out that hedge fund that lost so much money in Russian equities at the time.

Blogger bodenlose Schweinerei December 04, 2019 10:56 AM  

How much in fines and federal time do you think you or I would get for openly running a pump and dump scheme like this?

Blogger RandyB December 04, 2019 10:58 AM  

Nothing new about this. "Corporate Raiders" were a big thing in the 80's.

It was immoral then, it is immoral now, and it will be immoral always.

Blogger NRx December 04, 2019 11:02 AM  

@43

"An economist with a safe job at a think tank or university will tell you that Singer somehow makes the economy "More efficient". For some reason, we can't make Academia more "efficient" or the law "More efficient" by hiring some low cost Indian economists or Lawyers."

Dot Indians are probably going to end up dominating all the leftist intellectual institutions that previously had been mostly staffed with jews (or at least had jews greatly overrepresented). Progressive jews don't reproduce so they are going to die off, Orthodox jews can't be in the progressive priesthood.

Also jews are (sorry wignats) at least phenotypically white, promoting them to good jobs and leadership positions in progressive democrat institutions would be "racist". Northeast Asians skew more towards non-verbal IQ and the rest of the diversity is just too stupid.

Blogger MNW December 04, 2019 11:07 AM  

I used to like Cabela's now it is a Bass Pro with different branding. Cabela's competed with bass pro, but had a different focus on Hunting, shooting, and camping While Bass Pro was very fishing heavy. Making them the same reminds me of the Kmart/Sears destruction.

Blogger Crush Limbraw December 04, 2019 11:09 AM  

This is personal. Every summer we visit with family and grandkids in different time zones, traveling in our RV.
A favorite stop on the way was the Sidney Cabela's headquarters store and RV camp - usually stayed for several days.
We began to notice the degradation of the business several years ago, which coincides with the facts of this article, confirming what we saw with our own eyes.
We purposely travel through the small towns - the evidence of corporate financial rape is too noticeable to ignore - it is painful to observe.
At the same time, didn't we just see an item where Whites are becoming reluctant to move?
As these corporate giants rape the populace, aren't they at the same time planting the seeds of their own destruction?
The problem is convincing the populace they're being raped!

Blogger Dos Voltz December 04, 2019 11:10 AM  

It's that time of year when you can easily find the Capra film, "It's a Wonderful Life." Or as I like to call it "A Tale if Two Capitalists."
On the one side we have a very Christian Geirge Bailey, who runs the local S&L and believes his role in town is to help his neighbors first, and profit second.
Then you have the evil vulture capitalist, Old Man Potter, played by Paul Singer's gramps, (well, maybe) who believes ONLY in the virtue of money.
No matter what econ philosophy a country adopts, without Christ there is only misery and despair.
Make your kids watch it. For the econ lesson as much as the Good News.

Blogger ThatWouldBeTelling December 04, 2019 11:13 AM  

@22 Weak:

"A town of six thousand people, a third of whom work for a single employer, in the corporate headquarters of company second tier in its field. Wasn't this inevitable at some point?"

Not in the least. For these weren't as directly competing companies as is being implied, Cabela’s was hunting oriented, and you should be able to guess the orientation of Bass Pro Shops.

A substantial fraction of my family is *very* hunting and fishing oriented. Before this merger, our high end business in these domains went to Cabela's and Gander Mountain, which has its own sad story. I've bought high quality, well priced items from both. To my knowledge, despite its closest store being much more convenient to us, we've never bought anything from Bass Pro Shops, which I've never heard anything good or bad about until this discussion, except that they'd gotten very big due to their focus on fishing, starting in a part of the country where that's very big.

Blogger basementhomebrewer December 04, 2019 11:21 AM  

There are no graphs or charts or complicated systems or terms you have to learn to understand what happened. One asshole bought a ton of stock in one company... raised a bunch of hell immediately for that company to merge... all that hype drove the stock up... and he sold out before the merger even happened... leaving a totally destroyed company that we all used to know and love.

If you want to see him do it again, on a larger scale, in real time, take a look at what Elliot is doing to Marathon Petroleum. They pressured them to split off Speedway convenience store and the current CEO refused. He is now being shown the door by the board that they lobbied. The long game here is clear, split off Speedway then sell/merge Marathon with another petroleum company. As a note, Marathon's headquarters is located in Findlay, OH. A one company town with a 40K population. That town will suffer greatly by the time this is over.

Blogger ThatWouldBeTelling December 04, 2019 11:22 AM  

@50 Crush Limbraw:

"The problem is convincing the populace they're being raped!"

Oh, I don't think that's the biggest problem, even if you haven't lost your job to this you've likely lost a number of favorite companies that supplied things important to you. What exactly to do about this, and *how* to do it when the engineers of this destruction own both parties is what I think about. Following dc.sunsets, probably little to nothing but intellectual, mental, etc. preparation can be done until this peak of social mania and printing money ends, we expect harshly.

Blogger Stilicho December 04, 2019 11:25 AM  

I interviewed with Cabela's a couple of years before the merger for an executive position. I did quite a bit of due diligence and interviewed with senior management, including CEO. A few impressions I had:

1. CEO had come over from Remington where he had not done well in preserving company brand or employees jobs. On a personal level, he just struck me as a bit off somehow.

2. Cabela's was already selling cheap imported goods/clothing in stores.

3. Cabela's bank/credit card operation was a major, major driver of profit and received a corresponding measure of attention, effort, investment.

4. The Cabela family was mostly out of the running of the company (one brother already deceased). The professional managers (CEO) had a very different vision for company than the founders.

5. Another senior executive flat out lied to me during interviews at HQ.

I didn't take the position as it wasn't really what I was looking for at the time and Sydney was in the middle of nowhere, far from any family. When the merger occurred shortly after, I was very happy with my decision. Dodged a bullet.

I am content with Bass Pro buying the retail side. It kept the stores open and made them privately owned again (which is especially important for the firearms business these days). Cabelas was going to be broken up and sold the minute Singer acquired enough stock to force the issue and the management of cabelas had changed from the family to the usual suspects, so the sale had plenty of support from the golden parachute club.

Blogger Boomer55 December 04, 2019 11:31 AM  

His bio shows that he is a big donor to LGBTQ+ subversion...I mean causes. This is another little piece to show that these oligarchs are using deviant sex to placate otherwise socialists. I'm surprised, I though only people like Bloomberg do this.

Blogger Boomer55 December 04, 2019 11:36 AM  

@50
This is the "strip mine" end of Venture Capital, the group Singer leads. It's not necessarily big corps - SJWs are trying to sue firearms makers as we speak! What is more surprising from seeing the Tucker Carlson segment is that Cabela's was very profitable, but the corporate board caved.

Blogger Boomer55 December 04, 2019 11:38 AM  

@55

"4. The Cabela family was mostly out of the running of the company (one brother already deceased). The professional managers (CEO) had a very different vision for company than the founders."

That explains why the corporate board caved to Singer!

Blogger Newscaper312 December 04, 2019 11:38 AM  

Reminds me a bit of "Chainsaw" Al Dunlap in the 90s who gutted Scott Paper for a sale to Kimberly-Cark, then really did a number on Sunbeam, ruining it. Too late for a lot of affected people, he did finally get a black eye.

Thing is, the "looking out for the shareholders" claim was always BS -- apart form lining his won pockets, it was about gutting the company to *temporarily* make the balance sheet look good so the speculators could make a profit a sale. Having a some painful reforms to put the company actually sustainable going forward as a going concern was NOT what they were doing. Whatever buyer they got ended up with a useless shell, a husk.

Blogger Doktor Jeep December 04, 2019 11:54 AM  

National Capitalism has never been tried.

Blogger ThatWouldBeTelling December 04, 2019 11:58 AM  

@51 Dos Voltz:

"It's that time of year when you can easily find the Capra film, "It's a Wonderful Life." Or as I like to call it "A Tale if Two Capitalists."
On the one side we have a very Christian Geirge Bailey, who runs the local S&L and believes his role in town is to help his neighbors first, and profit second."

And who would have been thrown in Federal prison for his shenanigans if G. H. W. Bush had been president. One thing little talked about in the S&L system the Feds set up, destroyed, and then criminally dismantled, is how they persecuted a very important part of the Republican base that had the misfortune to be on S&L boards or in management when the Feds needed scapegoats. They also had lots of friends and acquaintances in small and medium town America, and formal networking organizations like local Chambers of Commerce, all in all Main Street America has been under unrelenting attack since at least then.

Blogger Mr.MantraMan December 04, 2019 12:00 PM  

Singer being a globalist POS. Still years ago I knew this would happen one or another would be taken out and I figured the Cabela's had already cashed it in, and I would not be surprised that some heirs turn out Chik Fil A style, converged.

Blogger Jeroth December 04, 2019 12:05 PM  

What is the solution? Would capitalism where interest is illegal be viable? People assure me this would "destroy the markets", but I'm assuming this is a lie.

Blogger kunta kinte December 04, 2019 12:10 PM  

"Profit" is the goal of degenerates.
High culture and civilization is the goal of Christians.

Blogger DonReynolds December 04, 2019 12:15 PM  

I have had to deal with these local Chamber of Commerce types for decades. They are ungrateful for what the do get, jealous of everyone else, spiteful and vindictive toward their own friends and benefactors, insecure, fearful, and hate the future....contrary to their own confident propaganda. The worst ones blame the Capitalist system. Markets can be so cruel, ya know.

We are always glad when yet another gorgeous young woman comes into our life. As long as she does not misbehave too much or say much, love seems to come naturally, and the feeling simply cannot be duplicated in any other way. But when she leaves, and they often do at some point, I prefer to think in terms of being appreciative for the time we had, rather than crash and burn in the bitterness of the "loss". I never understand the sense of loss, since they did little or nothing to cause her to be there in the first place and even less to convince her to stay. That is why local Chambers of Commerce act so silly when a business moves away. Was it the sports car or the money or the thrills or was he just better looking? Maybe calling her a whore is not the right response. Maybe she was just bored.

Blogger CM December 04, 2019 12:20 PM  

Would capitalism where interest is illegal be viable?

I'm curious what you are thinking.

Current investment is removed by a great number of degrees and businesses built on loans.

Are you thinking investors being early stakeholders that put capital into an idea and then reap the benefits of a well placed investment or suffer the loss of a poor one? But "interest" here would be in profit sharing as stakeholders, rather than loan interest. So the stakeholders are invested in the business's success.

Blogger kunta kinte December 04, 2019 12:26 PM  

Capitalism is not an ideology. It's simply a tool which facilitates work.
It's like hammer. If it's getting the job done it's good. If not you should use something else.
Nobody says they are a Hammerist and goes on about the virtues of Hammerism.
Nobody says we will cut this board to length with a hammer because Sawing is wasteful and lots of people have been hurt by saws.

Blogger Newscaper312 December 04, 2019 12:34 PM  

@63 If I could only make one big change on the corporate side, it would be in equity, to stop the effective favoring of capital gains over dividends in the tax code.

Stop the double taxation of dividends w corporate then individual income taxes.

Stop treating capital gains from reselling stocks exactly the same as gains by the original investors in a stock when issued. Why? It is only the latter that puts capital in the hands of the company itself to launch or grow its business.

Adjust tax rates so dividends are somewhat preferred over capital gains.

These would favor old fashioned, true "investment" over all the speculation, leading to somewhat more organically stable markets. Also, actual quarterly cash payouts cannot be fudged by management in the way that balance sheets, at least not for very long.

One other lever you never see discussed -- when the Fed or SEC are concerned about the markets getting overheated they look at raising the bank discount rate which affects prime rates and trickles down to every other interest rate affecting everyone, but what would more selectively affect just Wall St speculator types is the raising the minimum interest rates on margin loans.

Blogger Snidely Whiplash December 04, 2019 12:35 PM  

Jeroth wrote:What is the solution? Would capitalism where interest is illegal be viable? People assure me this would "destroy the markets", but I'm assuming this is a lie.
The base problem is that the ownership of the company rests in people who no longer have a vested interest in the company's success. Once a stock is listed on an exchange, the only metric the ownership cares about is the price of the stock. That price is based on almost anything besides the value of the company.
A simple tax on stock sales would end a lot of this nonsense now.

Blogger kunta kinte December 04, 2019 12:40 PM  

Dollars are simply tickets which should be issued by your government (not the Federal Reserve).
They should represent actual materials and labor at work in the Nation. Big brains work at calculating this.
More dollars are issued when real wealth increases and they are called back when it decreases.
They are only used to facilitate the transfer of goods and services without having to have a barter system.
Hoarding dollars does not mean you are worth more. It just means your a sick prick who can't function like a decent person.
Hoarding dollars and usury should be illegal

Blogger Servant December 04, 2019 12:42 PM  

There old testament law prohibited gleaning every corner of your fields.

Vulture capitalism and business management is doing exactly that. Efficiency is the enemy. Yeah you don't get super wealthy by not pinching pennies and leaving profit on the table but you don't crush people and destroy communities.

The rich young ruler was probably a vulture capitalist. He was told to sell all he had because he accrued it through means that held no regard for people.

Blogger Jeroth December 04, 2019 12:49 PM  

@66 Yes that is generally what I'm thinking, but I'm an ignoramus when it comes to economics, so I'm wondering if there are special cases where interest might still be necessary. Vox made a good point that even reasonably priced loans can lead to tremendous misallocations of investment, as is evident in the student loan bubble. The argument for them, of course, is that they incentivizes risk taking, but it seems to me that creating this culture of risk taking will always inevitably lead to a nation destroying bust. So can we just get rid of interest completely and still have a healthy economy with strong incentives for innovation?

Blogger ThatWouldBeTelling December 04, 2019 12:51 PM  

@57. Boomer55

"@50
This is the "strip mine" end of Venture Capital, the group Singer leads. It's not necessarily big corps - SJWs are trying to sue firearms makers as we speak!"

Unlike the many scams such as with asbestos and tobacco, there's not very much money to be had from firearms manufactures, it's being done purely to put them out of business, to stop the supply of new guns to the population. You know the Cloud People have to feel a shiver down their back every Black Friday when the Dirt People buy enough guns to supply one to every active duty Marine.

Blogger cecilhenry December 04, 2019 12:52 PM  



Ethics are done in the West.

Done.

Suddenly one day you just realize it as an epiphany.

Incidents like this, and there are thousands of them, make it undeniable.



Especially at the highest levels of society.

Consequences are imminent.


Watching politicians, the MSM, the virtue signalling neighbours, the diversity for thee not for me, the 'we need more taxes' --for someone else to pay, for the decision is mine but the outcome is your responsibility, for the endless status seeking in the smallest of interactions--like programmed sheep, it was shockingly clear:

our conscience won't allow us to actually pillage our neighbours, but to lead/push them every step of the way but the last to their destruction for our aggrandizement--is just giving them what they want.

Carry on.

Blogger Akuma December 04, 2019 12:53 PM  

This just proves my prior assessment that those on the right do not help or defend their own. In most cases they go out of their way to attack their own. They are guilty of aiding and abetting the left.

Blogger Requited Hate December 04, 2019 1:00 PM  

A. I am from and live in Nebraska.
B. I used to be an employee of Cabela’s.
C. I was emotionally invested in the fate of Cabela’s.
D. The Cabela’s in my market does not reflect the assertion made in comment #40.

Blogger ThatWouldBeTelling December 04, 2019 1:00 PM  

@65 DonReynolds:

"I have had to deal with these local Chamber of Commerce types for decades. They are ungrateful for what the do get, jealous of everyone else, spiteful and vindictive toward their own friends and benefactors, insecure, fearful, and hate the future...."

People tend to act like they've been treated, and ever since the Rural Purge https://en.wikipedia.org/wiki/Rural_purge businessmen has been portrayed as irredeemably evil. Back when the Mary Tyler Moore show was running in the 1970s, one analysis noted *every* portrayal of businessmen on network TV was negative, except for her boss (((Lou Grant))).

And as we've been chronicling, they live in an increasingly hostile business environment that at many levels *explicitly* wants to put them out of business, and ruin them and their families. It would also be unrealistic to expect them to escape the effects of the general decline of morals in the US.

Or look at it another way, more than a little history tells us it's mutually incomparable to give Jews a lot of power in your society and have a native, and inevitably turbulent middle class. Poland, England, I'm sure there's more examples including what's happening now in the US.

Blogger Azure Amaranthine December 04, 2019 1:18 PM  

"People assure me this would "destroy the markets", but I'm assuming this is a lie."

Any such markets are deserving and requiring of being destroyed. If they are so invested with evil that they cannot survive its destruction then they themselves are fit for nothing but to be destroyed.

People saying this in defense of the practice are like hostage-takers trying to acquire more leverage over those they took the hostages from by threatening the hostages. Too bad, so sad, have to cut you off. You're not getting any more than you've already got, especially since we know the "hostages" are actually traitorous defectors hoping to pad their departure, stealing more from us for their return that will never come.

"The base problem is that the ownership of the company rests in people who no longer have a vested interest in the company's success."

Term-limit game theory. They're invested in padding their ways to their own deaths, and no further, so they have no interest in any further profit from the system. They will guide, prod, twist, rig, torment, mutilate, and fix the system to give them maximum payout before they themselves expire, to hell with anyone else. Longer term limits just mean the backstab is put a bit further off, they're still going to backstab if they aren't invested in eternity.

Blogger Gulo Gulo December 04, 2019 1:23 PM  

This same story has played out, in paper industry towns across most of the northern Great Lakes states and Maine. The worst possible thing for that industry wasn't the rise of the internet and "going paperless" ..it was the acquisition of these mills by private equity groups like Cerberus and Apollo. The management of the companies knew absolutely nothing about the paper making process or the markets. They literally strip mined these mills, dismantling key machines and selling them to other paper making companies in South America and the Orient. In many instances the smaller of the mills were shuttered leaving cataclysmic economic destruction in their wake. Northern rural towns left without any source of employment. In many, instances - but not all - if these mills had been owned by companies that had a strategic vision that extended beyond the next six months, they could have been reconfigured and they would have survived.
I lived through it, working at one of these larger mills while under the ownership of one these "investment" groups. The lack of foresight, fiduciary responsibility and knowledge of the general paper- making process by the suits in corporate management was breathtaking to witness. Never had I met a larger group of greedy soulless people. Chinese investment is coming in now and they are purchasing some of these mills. They appear to be very committed to the making of paper and making very substantial investments that will position these mills to be competitive and efficient well into the future. Say what one will about the Chinese- they appear downright moral when compared to the reptiles that inhabit "western" ((private equity ))

Blogger Crush Limbraw December 04, 2019 1:26 PM  

It's a pattern, Karhu.
Christianity deviates to Churchianity and Corporanity which produces Worshiping Mammonity, levitated by Stupidity, resetting to Reality and Back to Christianity!
All of which is proven by History!
The OT commands as taught to and by Moses was perverted to Judaism - Jesus confirmed that repeatedly.
The prophets declared the destruction to come - repeatedly.
Only a few listened!
Nothing has changed - and that has become my main purpose for being here in the first place - there will be and always has been a remnant that needs constant teaching and subsequent learning!
I firmly believe a good percentage of us here are part of that.

Blogger Felix Bellator December 04, 2019 1:26 PM  

Okay, I'll check it out.

Blogger Franz Lyonheart December 04, 2019 1:31 PM  

the preamble to the U.S. Constitution does not indicate that its purpose is to maximize gross national product or the sum total of societal wealth.

..., because the USA Constitution as a Living Document entirely focuses, of course, on Gross Domestic Product (GDP).

Blogger Snidely Whiplash December 04, 2019 2:02 PM  

"Destroying the markets" is not of necessity a bad thing. The Stock Market, as an example, is a vast gambling operation in which the big players are allowed and encouraged to fix the game. The mortgage derivatives market drives the cost of housing up and up and up, while driving the quality of loans down and down and down. That's good for some, not good for others, but there was a functional mortgage industry long before the derivatives market was invented. We'd survive quite handily if it collapsed tomorrow.

Some markets are good and healthy and necessary. Some are completely parasitical.

Blogger ThatWouldBeTelling December 04, 2019 2:15 PM  

@74. cecilhenry

"Ethics are done in the West.

Done.

Suddenly one day you just realize it as an epiphany.

Incidents like this, and there are thousands of them, make it undeniable.

Especially at the highest levels of society.

Consequences are imminent."

Six decades on this earth has taught me to be very conservative about making predictions about *when* something is going to happen, but this looks likely in the foreseeable future. Glenn Reynolds, the Instapundit, has written a lot on these consequences, here's the most recent full essay of his on it I've saved away: http://www.usatoday.com/story/opinion/2016/05/22/government-corruption-law-abiding-society-trust-irs-hillary-clinton-column/84744432/

"Destroy the evidence, and you've got it made," said an old frozen dinner commercial. But now that appears to be the motto of the United States government.

So why do the rest of us bother to obey the law? And, yes, that's an increasingly serious question.

People follow the law for a mix of reasons....

And people may obey the law because they think that being law-abiding is an important part of maintaining a viable society. But that's the kind of law-abiding behavior that's at risk when people at the top treat the law with unconcealed contempt.

Being law-abiding for its own sake is a traditional part of bourgeois culture, and our ruling class has lately treated the bourgeoisie with contempt as well. Which raises the risk that this contempt will be returned.

Back in the midst of the financial crisis, Gonzalo Lira looked at how people were responding to the mortgage meltdown and warned of a coming middle-class anarchy. He wrote:

"A terrible sentence, when a law-abiding citizen speaks it: Everybody else is doing it — so why don't we? ... What's really important is that law-abiding middle-class citizens are deciding that playing by the rules is nothing but a sucker's game."

America has been — and, for the moment, remains — a high-trust society. In high-trust societies, people extend trust to strangers and follow rules for the most part even when nobody is watching. In low-trust societies, trust seldom extends beyond close family, and everybody cheats if they can get away with it.

High-trust societies are much nicer places to live than low-trust ones."

Blogger Stilicho December 04, 2019 2:26 PM  

@Karhu

Cabelas started out as a mail order fishing lure company. Even before merger, Bass Pro wasn't very distinguishable from Cabelas inside the stores. Huge overlap in all depts hunting fishing camping clothing firearms etc.

Blogger ThatWouldBeTelling December 04, 2019 2:29 PM  

Not entirely off topic, given this is about our hostile ruling class. What are the odds that every single "Constitutional Scholar" Chairman of the House Judiciary Committee (((Jerrold Nadler))) would call for his side are also Jewish? Do these people think quite a few more Americans won't notice? Or do they think that won't matter?

Blogger CM December 04, 2019 2:30 PM  

Six decades on this earth has taught me to be very conservative about making predictions about *when* something is going to happen, but this looks likely in the foreseeable future. Glenn Reynolds, the Instapundit, has written a lot on these consequences, here's the most recent full essay of his on it I've saved away:

A lot of what the OT prophets had to say about the destruction of Israel was very top level (not specific), so you can match it to a lot of different eras and get the same result given the same circumstances - like Assyrian destruction vs Roman destruction.

Civilizations have long time preferences. They don't collapse immediately and they don't strengthen immediately, either... but we can recognize the seeds of collapse and reasonably recognize collapse is inevitable, even if it is a long time coming.

Even if we can't predict the time, I don't think the warning of impending doom is misplaced.

Blogger Gen. Kong December 04, 2019 2:40 PM  

Sillon wrote:Rob wrote:

What kind of name is Singer?

Singer was born in 1944, and grew up in Teaneck, New Jersey in a Jewish family

(((Every... single... damn... time)))


Why is anyone here surprised? Satanists are going to dance to the tune of their father ... Every. Single. Time. When spawn-of-satan sez: "See that shit? It's really GOLD!", the morons on the board of directors fell for it. Why?? He didn't even have majority of stock. How many of the board members made a fast buck off the deal and walked away?

Blogger John Bradley December 04, 2019 2:51 PM  

From Ace's post on same:

People like Paul Singer control the GOP and are effectively in a conspiracy against actual GOP voters. When Singer's kid announced he was gay, Paul Singer basically mandated that the GOP become pro-gay marriage, and the GOP complied.

Blogger OneWingedShark December 04, 2019 2:53 PM  

NRx wrote:I watched the Tucker clip on this guy and it sounds like his business model depends upon government bailouts (as did Shit Romney's Bain Capital, Romney was brought in as a founder because of his old man's government connections) and all government bailouts have been bad with the exception of bailing out the automakers and only because if they were allowed to just fail utterly Rust Belt unemployment rates would have spiked to perhaps 40-50%.
Why 'Romney' isn't widely considered to be a 'dirty' and/or 'curse' word is beyond me, as it's obvious to me that he's absolutely abhorrent in terms of 'business' unless your only metric is "making money".

Crush Limbraw wrote:This is personal.
[…]
We began to notice the degradation of the business several years ago, which coincides with the facts of this article, confirming what we saw with our own eyes. […] As these corporate giants rape the populace, aren't they at the same time planting the seeds of their own destruction? The problem is convincing the populace they're being raped!

Not at all, just visit /pol/ on 4chan; start a thread on "corporations", you'll see that the "America = [multinational] corporations" isn't nearly as prevalent as they'd like to make you believe.

Karhu wrote:What exactly to do about this, and *how* to do it when the engineers of this destruction own both parties is what I think about. Following dc.sunsets, probably little to nothing but intellectual, mental, etc. preparation can be done until this peak of social mania and printing money ends, we expect harshly.
I don't knw a sure-fire solution; I've been trying to pressure action at state-level to enforce laws on big-companies, which might be nothing, all told… but be sure to pray.

Karhu wrote:One thing little talked about in the S&L system the Feds set up, destroyed, and then criminally dismantled, is how they persecuted a very important part of the Republican base that had the misfortune to be on S&L boards or in management when the Feds needed scapegoats. They also had lots of friends and acquaintances in small and medium town America, and formal networking organizations like local Chambers of Commerce, all in all Main Street America has been under unrelenting attack since at least then.
I was completely unaware of this; can you expand on the story here? And/or recommend a book on it?

Blogger OneWingedShark December 04, 2019 3:11 PM  

Azure Amaranthine wrote:People saying this in defense of the practice are like hostage-takers trying to acquire more leverage over those they took the hostages from by threatening the hostages.
Sometimes the proper response is a high-powered rifle shot through the hostage and into who took the hostage. There's a reason that taking human shields is a war-crime, and that shooting through them isn't.

Blogger OneWingedShark December 04, 2019 3:19 PM  

Franz Lyonheart wrote:the preamble to the U.S. Constitution does not indicate that its purpose is to maximize gross national product or the sum total of societal wealth.

..., because the USA Constitution as a Living Document entirely focuses, of course, on Gross Domestic Product (GDP).

Have you ever noticed the Morton's-Fork/Word-Wizardry here?
If it's a "living document" because "the supreme court can change it at-will", and what it actually says doesn't matter.
If it's a "dead document" then it's "old and outmoded", and what it says doesn't actually matter.

Pretty insidious.

CM wrote:Even if we can't predict the time, I don't think the warning of impending doom is misplaced.
God says, repeatedly, that He will turn away from destroying a nation if they turn away from evil. [Jer. 18:8; Jonah, etc]
This is why we should pray.

Blogger Chris Ritchie December 04, 2019 3:36 PM  

@3 "This is why a free society must be based on Christianity."
The U.S. was, at one time. While no religious test was allowed at the federal level, it was deferred to the States. And many states in the collection of the United States did indeed have a religious test for office. A specific, Christian test. But it was progressively removed, state by state.

Blogger Stilicho December 04, 2019 3:38 PM  

@snidely it is a matter of when not if the derivatives market collapses. It consists of nothing but side bets on the spread. Every player brags about their low "net exposure" but none of them acknowledge their exposure is entirely dependent on their counter-parties ability to pay. If it all crashed tomorrow we'd be fine except for one thing: they will try to make us foot the bill again like they did in 2008 and 2009. That's going to be more difficult this time around as I e0pect serious resistance. But the fight may spill over into other arenas if the banksters own enougb congresscritters to force another bailout through.

Blogger Daniele Grech Pereira December 04, 2019 3:47 PM  

It's upsetting we have tonwait for Singer to die before he burns in hades.

Blogger bodenlose Schweinerei December 04, 2019 4:18 PM  

Would capitalism where interest is illegal be viable?

What does interest have to do with this story? Private equity companies never intend to pay back the debt they load up onto the companies they buy. That's how a bust-out works. You'd have to outlaw the concept of borrowing itself. Good luck with that.

Blogger Jeroth December 04, 2019 4:31 PM  

John Bradley wrote:People like Paul Singer control the GOP and are effectively in a conspiracy against actual GOP voters. When Singer's kid announced he was gay, Paul Singer basically mandated that the GOP become pro-gay marriage, and the GOP complied.

Sometimes it's just overwhelming. No, it's not all Jews, and no, it's not only Jews. But they almost always seem to be at the tip of the spear.

Blogger James Dixon December 04, 2019 5:13 PM  

> Making them the same reminds me of the Kmart/Sears destruction.

For very good reason. That was also vulture capitalism at work. Except in that case it was even more blatant. And while Wikipedia has scrubbed any references to Eddie Lampert's ethnicity, this article may give you a few clues: https://jewishbusinessnews.com/2013/11/26/edward-lamperts-plan-to-re-organize-sears-begins-to-take-shape/

> Stop the double taxation of dividends w corporate then individual income taxes.

In fact, make then an expense for the business so they can write them off of their income.

> Once a stock is listed on an exchange, the only metric the ownership cares about is the price of the stock.

Not entirely true. There is a devoted dividend investing community, of which my wife and I are part, since that's going to be our primary income source in the future.

> A simple tax on stock sales would end a lot of this nonsense now.

I would be happy with a 1% tax on all commercial transactions, as long as the federal government did away with all other forms of taxation. It's a fair price for their maintaining the medium of exchange. Of course, they haven't done such a good job of that since 1913.

Blogger ThatWouldBeTelling December 04, 2019 5:24 PM  

@90 OneWingedShark:

"Karhu wrote:
One thing little talked about in the S&L system the Feds set up, destroyed, and then criminally dismantled, is how they persecuted a very important part of the Republican base that had the misfortune to be on S&L boards or in management when the Feds needed scapegoats. They also had lots of friends and acquaintances in small and medium town America, and formal networking organizations like local Chambers of Commerce, all in all Main Street America has been under unrelenting attack since at least then.

I was completely unaware of this; can you expand on the story here? And/or recommend a book on it?"

Which part or parts? The S&L saga including the Fed's attacks on the S&L after the Feds blew them up is well documented, but I can expand on all those parts. The persecution of innocent S&L board members and managers is the sort of thing I think I remember reading about in the Wall Street Journal editorial page, can't remember if or where else, it was three decades ago. You should be able to find some anecdotal evidence of it.

Blogger RedJack December 04, 2019 5:48 PM  

I am from Nebraska. Sidney was a great town and Cabelas a great company. It is now Bass Pro with a separate label. Sidney is dead.

Had friends in the company, some who were part of the guide business. They bailed as fast as they could.

So core company is hollowed out, the value sucked dry by the vampires, and those of us who love the outdoors lost another choice in an ever shrinking market (there are very few companies making guns that are not on the path to being converged).

Blogger Chris Ritchie December 04, 2019 6:19 PM  

@19 ""Nothing personal, it's just business...""
I was just talking about this with my uncle this morning. The compartmentalization this phrase conjures justifies a myriad of misdeeds.

Blogger Chris Ritchie December 04, 2019 6:25 PM  

@29 " later failure of the business."
And then comes the failed marriages, latch-key kids, foster care, opioids, and suicide. But hey, it's all worth it. The Free Market knows best, right?

Blogger Sheila4g December 04, 2019 6:40 PM  

@40 grendel: "The merger has gutted Cabela's stores. Instead of a wide selection of quality items, they've skeletonized the inventory to make room for a giant "Shitty Chinese toys from Wal-Mart" section. And there are more people trying to sell you a credit card than a rifle."

My younger son works at Cabelas. There has been massive personnel turnover during his just one year tenure there. Everyone who had anything to do with the old Cabelas has left. They've brought in managers from Walmart. He, too, has commented on how heavily all staff are told to push the company credit card. He also mentioned all the cheap toys and a massive increase in sportswear (brands that are all available elsewhere). I haven't shopped there in some time, but nothing I hear is good. I noticed that their Christmas ad last year heavily featured non-Whites, and their sales staff is no longer almost exclusively White. Selection in hunting/camping has dropped dramatically, but not prices. I think they're on borrowed time.

Blogger Didas Kalos December 04, 2019 7:14 PM  

My only beef with the films ending is that old man Potter didn't get hung for stealing that $$ he found in the envelope in the newspaper. Then lots of bells would have rung.

Blogger DonReynolds December 04, 2019 8:47 PM  

Didas Kalos wrote:My only beef with the films ending is that old man Potter didn't get hung for stealing that $$ he found in the envelope in the newspaper. Then lots of bells would have rung.

Sometimes the happy ending is just leaving the old bitter man to suffer life a bit longer. The money means nothing to him. He has plenty of money and it will not bring him happiness or friends. The only reason it had any value to him was the possibility that it might break the Bailey Building & Loan, but it didn't, so he was foiled again.
Most would agree, it had a happy ending.

Blogger John Rockwell December 04, 2019 8:48 PM  

(((Leveraged money))) shouldnt even exist

Blogger Glaivester December 04, 2019 9:00 PM  

Does anyone else remember the Evangelical Immigration Table? It was a project of the Soros-funded National Immigration Forum (essentially all it was was a series of advertisements).

The actual funding for the Evangelical Immigration Table, that is, the ads, came from Paul Singer.

He also helped the politicians who got same-sex "marriage" passed in New York.

Blogger John Rockwell December 04, 2019 9:01 PM  

Civilization needs steppe nomads who retain manly virtue to refresh it every now and then.

Blogger Son of John December 04, 2019 9:07 PM  

And as per usual the people who lost their jobs as a result are meant to be so happy the GDP was improved and that the Chinese are no longer so poor they are Runescape gold farmers.

Blogger Azure Amaranthine December 04, 2019 9:52 PM  

"I was completely unaware of this; can you expand on the story here? And/or recommend a book on it?"

The Creature From Jekyll Island can tell you a fair bit about that.

"What does interest have to do with this story?"

The fundamental motivation to set up debt-based economies in the first place, at which point this sort of high-seas economic piracy is inevitable. When there's no solid ground because the system is bullshit, all it takes is morally weak people looking into the darkness to be pulled into joining it. "If they're doing it, why can't I?"

"Nothing personal, it's just business..."

"No disrespect, but..."

Both blatant lies. The first one is saying "I don't care enough about you to feel any sort of way so it's not personal for me."

Blogger furor kek tonicus ( no need to be racist, Ratchets can Karen better than anybody ) December 05, 2019 1:00 AM  

i've been in Sidney NE several times.

if Cabela's is moving out, there's not a damn thing around there for over a hundred miles. Fort Morgan, Pine Bluffs and North Platte aren't hardly any more than wide spots in the road, Sidney is less than that.

Blogger furor kek tonicus ( no need to be racist, Ratchets can Karen better than anybody ) December 05, 2019 1:10 AM  

88. Gen. Kong December 04, 2019 2:40 PM
He didn't even have majority of stock.



irrelevant.

most large shareholders have no trouble ram rodding anything they want through the annual board meetings. small holders ( <1% of shares ) typically don't even attend or bother voting.

so corps with <50% holdings are very rarely challenged for true 'control' of what they're doing.

but, what if you have a fifth column of wealthy investors who APPEAR to have different corporations but are actually all members of the same ((( tribe )))?

wouldn't it be easy for them come in a buy up 10% stakes and "informally" coordinate with each other?

Blogger John Henry Eden December 05, 2019 6:01 AM  

((( Paul Singer )))

Blogger Granny December 05, 2019 8:20 AM  

I have worked for Bass Pro Shops for many years. I had worked myself up to a good position that I enjoyed for 10 years...until BPS bought Cabela's. Cabela's took over, my job was outsourced to Nebraska, and I and a lot of others were thrown back into entry level positions. My point is, it's not quite as black and white as it may appear from the outside.

Blogger James Dixon December 05, 2019 10:05 AM  

> My point is, it's not quite as black and white as it may appear from the outside.

Yes, it's exactly black and white. If they had never merged, your job would still be there.

No one has said the merger was good for Bass Pro Shops, only that it was bad for Cabela's employees and customers. As I said, Bass Pro Shops is a bit player in this drama, but it's a role they took on willingly.

Blogger Jandolin December 05, 2019 10:03 PM  

Singer and his fund purchased a $3.2 billion stake in AT&T. Will AT&T suffer the fate of Sears/Kmart?

Marc Benioff of Salesforce, a member of the tribe, also wages war on traditional marriage and backs LGBTQ causes.

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