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We go back to 1901 where JP Morgan buys Carnegie Steel for $480 million without spending a penny of his own money and creates the world's first billion dollar company. Then to the 60s, where a cockroach extermination company gets killed by a corporate cockroach. Then to Red Lobster, where a private…
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This week we're breaking down private equity and asset stripping, how a firm can buy a company using almost none of its own money, saddle that company with the debt, sell the land out from under it, charge it rent on its own building, drain the pension pot, and walk away richer while everyone who w…
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