Alan Bond..
- Thread starter willair
- Start date
BRW has a slightly different take.
They say Packer sold the stations for $800 million from Bond in cash and $250 million in the form of subordinated debt - effectively a giant sized IOU.
Then when Bond's bankers finally moved, Packer was able to trade his $250 million IOU for a 37% equity stake in the business.
So he didn't pay $250 million for an asset he'd sold for more than $1 billion three years earlier (as has been reported on occasion), but he had taken $800 million off the table and regained control of a business worth over $700 million for nothing.
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He never stole anything, the money was willingly given and he did many great things with it.
He also taught middle aged Australian men how to dress with style.
He also taught middle aged Australian men how to dress with style.
Ironically it was diversification that brought about his downfall, yet now everybody is doing it.
As for "blue Chip", it's dated terminology that clouds rational thought and arrests action.
HiEquity has nailed it. We get things pretty wrong in this country when it comes to crooks who become folk heroes. Must be the convict stain
Simple laws of nature.
We have to have people like this to separate the fools from their money.
We have to have people like this to separate the fools from their money.
must admit, I knew very little about him but what stuck in my mind is the following
got sentenced to a few years for fraud, 7yrs I believe, which is a heck of a long time, so I assume he was quite naughty and ripped off a lot of people
he was bankrupt but as soon as he got out of jail, he bought or did some deal with a mine in africa or something like that,
so like a lot of rich people who are bankrupt, im sure he had gazillions hidden away to be able to do more deals, and im sure he is a brilliant businessman,
still on the fence as whether to think he is a australian icon or a fraudster
regardless, he does have a kind looking face!
got sentenced to a few years for fraud, 7yrs I believe, which is a heck of a long time, so I assume he was quite naughty and ripped off a lot of people
he was bankrupt but as soon as he got out of jail, he bought or did some deal with a mine in africa or something like that,
so like a lot of rich people who are bankrupt, im sure he had gazillions hidden away to be able to do more deals, and im sure he is a brilliant businessman,
still on the fence as whether to think he is a australian icon or a fraudster
regardless, he does have a kind looking face!
He never stole anything, the money was willingly given and he did many great things with it.
He also taught middle aged Australian men how to dress with style.
Of course he stole money, what nonsense to claim otherwise.
When he bought a painting from his company at a deep discount and then sold it for a quick profit you don't think he stole money from his company and therefore every investor in that business?
a lot of aussie heroes are crooks..... ned Kelly, chopper, sumukaran, chan, bondy etc. Some of them paid for their crimes, some didn't.
His lips would never have gotten near one. (Unless of course he was selling/cellaring it).
Ned Kelly maybe, but the others are "heroes" only to those that aren't the full quid.
Some quotes attributed to the great man.
Supposed friends? seem to think that because I have been to prison that I must still walk around wearing a suit emblazoned with arrows.
You? wonder what went wrong and why you are in prison when other people are still walking the streets freely after having failed in their business and gone bankrupt, or when company directors have lost billions of shareholders? dollars.
Look what happened to AMP in Australia when in two years to mid-2003 more than $15 billion of shareholders? funds were written off the value of the company. I ask, could they survive a Sultan-type inquiry after that? Probably not.
Don?t worry about the money. Let?s get to the deal.
The question of fear of failure doesn?t enter into the equation for me.
Generally everyone?s lifestyle is proportionate to their wealth, and believe me happiness does not necessarily come in the same proportion.
I?ve always believed that you should put back into the community what you get out of it?
I was the one who gambled on four challenges for the America?s cup?
Supposed friends? seem to think that because I have been to prison that I must still walk around wearing a suit emblazoned with arrows.
You? wonder what went wrong and why you are in prison when other people are still walking the streets freely after having failed in their business and gone bankrupt, or when company directors have lost billions of shareholders? dollars.
Look what happened to AMP in Australia when in two years to mid-2003 more than $15 billion of shareholders? funds were written off the value of the company. I ask, could they survive a Sultan-type inquiry after that? Probably not.
Don?t worry about the money. Let?s get to the deal.
The question of fear of failure doesn?t enter into the equation for me.
Generally everyone?s lifestyle is proportionate to their wealth, and believe me happiness does not necessarily come in the same proportion.
I?ve always believed that you should put back into the community what you get out of it?
I was the one who gambled on four challenges for the America?s cup?
Hats off to people who tried but didn't get there.
Why are people harping on about crimes that he did the time for?
Why are people harping on about crimes that he did the time for?
Jealousy I would say more than anything else.
The man faced the music.
Who else beside him and perhaps Nick Leeson from the same era faced the music and did some solid time for it?
Pay me 100m and ill live in exile in afganistan!!!
Maybe you could buy Afghanistan, and start the entire Country all over again and get it right...they can't.
