Tribune Group Follows The Curse
by Anorak | 8th, December 2008
LESS than 6 hours after I pointed out that the Tribune Group only had themselves to blame for the inevitable consequences of the lunatically leveraged $13 billion buy-out last year, they filed for bankruptcy.
I repeat, if their financial journos had known what they were doing, they would have realised that the financial markets were f*cked, and that no-one in their right minds would borrow massive sums to buy out something which couldn’t make decent profits even without huge interest costs.
Maybe they succumbed to the orgasmic lure of the ‘discipline of debt’ mantra?
Or maybe they were just stupid.
Either way the Curse of Chenier strikes again…
– Chenier
Posted: 8th, December 2008 | In: Money Comment | TrackBack | Permalink
