Simmons' Bankruptcy Means Big Profits For Buyout Firms

nytimes.com:

Simmons says it will soon file for bankruptcy protection, as part of an agreement by its current owners to sell the company -- the seventh time it has been sold in a little more than two decades -- all after being owned for short periods by a parade of different investment groups, known as private equity firms, which try to buy undervalued companies, mostly with borrowed money.

Read the whole story: nytimes.com

Comments

[PoliticiansRspineless]

03:50 PM on 10/06/2009

They did nothing illegal..no dif than a home equity loan.....

[msjimmied]

09:10 PM on 10/06/2009

There are laws of the land, and then there are the laws of spirit, that if broken brings down calamity. You peg yourself on the evolutionary scale with that sentence. Gandhi said it best, the blunders that we should avoid, pay particular attention to number 4.

Wealth without work.

Pleasure without conscience.

Knowledge without character.

Commerce without morality.

Science without humanity.

Worship without sacrifice.

Politics without principles.

Mohandas Karamchand Gandhi

[JoshPr]

12:40 PM on 10/06/2009

I predict there will be no reform or change and Obammi will discourage his followers, hence losing 2012. Dems will also lose a lot of seats in the house in 2010.

good articles; http://iamned2.blogspot.com

Obama= fail

[vippy]

11:19 AM on 10/06/2009

Like vultures! Out for the kill and somehow when they gutted everything they have made more money and we are left with nothing. Amazing! Those still doing business with the stock market are part of it!

[Levittown]

12:38 AM on 10/06/2009

They play their games and we pick up the tabs.

[centreman]

09:22 PM on 10/05/2009

What just went down here is a crime. The THL group should go to jail.

[OneLiberalLady]

05:40 PM on 10/05/2009

The people who dug the deep, deep hole that Simmons is in now probably view themselves as smart., even brilliant. After all they profited handsomely at every step of the way in this disgusting tale of greed. Many of them were probably the graduates of some of our finer unversities, yet the only calling they could find from themselves was one that allowed them to make vast amounts of money. Not for them to discover a new treatment for cancer, let alone a cure; or even to sheperd a new product to market and employ people to make it. No, instead they took an existing , venerable American company and proceeded to plunder it. Simmons makes terrific mattresses and employs many American workers. Pray that they survive the malign treatment accrded them by these Masters of the Universe, these pillars of 21st century civilization.

[drymartini1]

09:17 PM on 10/05/2009

you go find a cure for cancer. Last I checked, everyone was free to pursue their own interests.

there are too many people looking for cure for cancer for a long time anyways. they didnt come up w/ith something that good yet have they?

[JScott]

11:33 AM on 10/06/2009

Interestingly you don't see Warren Buffet involved in this do you.
He'd probably buy and hold and the co woulda been in a much better position now.

And everyone knows ya always need a matress (in some form or another) cause everyone sleeps.

[chasedeconomy]

12:44 PM on 10/05/2009

Everything but the little people have become too big to fail

good articles; http://iamned.blogspot.com

Everyday we pay the consequences of Reaganomics