Mr._johngalt
Thinks s/he gets paid by the post
- Joined
- Dec 3, 2002
- Messages
- 4,801
This was meant to be funny, and it is. However, like all good humor,
there is truth at the core:
This business on a legitimate basis, is a fraud.
Not that it's a fraud. You need money to be in this business. But not a lot.
You need more money to open a shoe-shine shop than you do to buy a
$2 billion dollar company, let's be honest about it. But to buy a shoe-shine
shop, if it costs $3,000, you need $3,000. If you don't get it in cash, you need to bring it in by Thursday.
But if it's an LBO, not only do you not have to bring it, you don't have to see it, you don't know where you're going to get it, nobody knows where
they got it from. The whole situation comes from absolutely nothing.
But, the more you need of course, the less money you need.
In other words, if there is money involved, you don't get involved in that business. This is a business for people who don't have money, but who know somebody who has money, but they don't put it up either.......
Jackie Mason
JG
there is truth at the core:
This business on a legitimate basis, is a fraud.
Not that it's a fraud. You need money to be in this business. But not a lot.
You need more money to open a shoe-shine shop than you do to buy a
$2 billion dollar company, let's be honest about it. But to buy a shoe-shine
shop, if it costs $3,000, you need $3,000. If you don't get it in cash, you need to bring it in by Thursday.
But if it's an LBO, not only do you not have to bring it, you don't have to see it, you don't know where you're going to get it, nobody knows where
they got it from. The whole situation comes from absolutely nothing.
But, the more you need of course, the less money you need.
In other words, if there is money involved, you don't get involved in that business. This is a business for people who don't have money, but who know somebody who has money, but they don't put it up either.......
Jackie Mason
JG
