Forbes: SWA Going Nowhere
#81
Exactly. That raises the point of private equity. The Blackstone group is about to go public for the same private funding that saved U.S. Air through the Texas Pacific Group. USAir is doing well, but it is not due to corporate welfare. The government turned them down, they had been in BK twice, and were on their way out. In stepped David Bonderman and the TPG. No welfare, no subsidy, just a savvy business man that realized a tarnished name that needed a little help. I'm a little foggy on the AmWest loans, so I'm sure someof you will correct me.
Tom
Tom
This horse has been beat to a pulp. In bankruptcuy someone loses including the employees and creditors (as well as others). Only management seems to come out with their financial future secure. Bankruptcy is welfare and a subsidy just ask the Alabama Pension Fund which lost tons of money in USair's first BK. Just my observation. A savvy businesman knows when to come in and pick at the bones.
Last edited by OscartheGrouch; 06-16-2007 at 05:20 PM.
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