"The Liquidator"
is a movie that can be used as a textbook. Of course, it is necessary to abandon the affections of father and daughter, mother and daughter, and men and women!
Described as a Wall Street asset liquidation master Mr. Garfield (Garfield? Funny), is a scumbag, seems to show the attitude of some directors!
And those middle-class people who run family businesses are of normal height, but they often indulge in the glory of the past years, and even imagine the future prosperity!
Why was this New England wire and cable company brought into the field of liquidation hunters?
That perfect balance sheet can be said to be colorful! Since the Great Depression in the 1930s, the company has not borrowed any more, with abundant cash, clear residual value of assets, and various other cash flow-generating subsidiaries that have been continuously acquired and acquired!
The converted book value is $25/share, but the stock price is only $10!
Can you keep the Wall Street Falcon coveted, you say?
In the legal society of the United States, the role of lawyers is too important!
So we see the chairman's lawyer daughter in the film looking through history, finding flaws, and finally getting a purchase suspension order issued by the magistrate.
However, the suspension is time-limited, so it finally ushered in a general vote on whether to liquidate at the New England Wire and Cable Company's general meeting of shareholders!
Before the vote, the chairman, who represented the interests of the majority of workers, made a tearful statement, pouring out the significance of the company's continued production.
Yes, he accused the Wall Street liquidator of not creating or building anything in kind, but he could decide the fate of wire and cable producers by virtue of the thickness of funds and legal incentives!
Yes! However, the opponent answered better!
The location of the wire and cable company used to be a concentrated production place for carriages and harnesses XX years ago. However, do the shareholders here still want to become a member of such a company? Will it be inspired by the local production of exquisite whips today?
Even if the stock price has not changed for 10 years, even if the income of grassroots workers has not kept pace with the price increase for several years?
There is no doubt that in the end, the liquidator wins and the shareholders get their due return!
Of course, workers will lose their jobs, and the wire and cable industry will be shut down!
Under the trend of globalization and the prosperity of new technologies, how can traditional industries dance in accordance with the old rhythm in front of exchange rate, cost and other factors? Operators, there are too many things to learn!
The film is also reminiscent of Mr. Buffett playing "Generals" (undervalued investment) in the past! ----Dempster Mill Manufacturing Company
1
In 1962, Bill Scott assisted Buffett's men, Harry Potter settled in Dempster Mill Manufacturing Company,
----Reduced inventory by $550,000, low price Cleared equipment, closed 5 loss-making branches, raised the price of repair parts, closed loss-making production lines, and fired 100 employees; (9 measures were described in the 1963 annual report)
Under the large-scale contraction of the main business, aroused the local people They believed that Buffett was a ruthless liquidator who came to liquidate the largest local company; in
1963, after the sale plan caused an uproar in the local area, the citizens believed that the acquisition or closure of the only large company in the area would bring a lot of Unemployment;
the local newspaper (Beatlis Daily Sun) reported the situation, and people raised pitchforks in protest!
September 29: The day before the public sale, the town raised $2.8 million, of which $1.75 million was paid to Warren and the remainder was reserved for expansion operations;
finally, Charles B. Dempster, grandson of the factory founder. . Dempster )-led investment group won the right to buy, regain control of the company, the town's fire sirens and bells rang in unison, making Warren tremble!
Recalling that everyone in town hated him and swore never to repeat such incidents - profited, but spurned;
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