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BMC Going Private In $6.9 Billion Deal
itwbennett writes "In a much-anticipated move, IT infrastructure management software vendor BMC has agreed to be acquired for $6.9 billion by a private investment consortium headed up by Bain Capital and Golden Gate Capital. The deal is expected to close this year."
I thought Leyland had already bought BMC.
...of which each spinoff component will be more efficient than the whole.
I was on the receiving end of a Golden Gate Capital acquisition, management was gutted and everything that made our company a success for over 40 years was thrown to the wind.
Those of us that were left had to pick up the slack with inexperienced management and shaky client relationships. It wasn't long before most of the senior developers in our branch hit the eject button making things worse.
Then they took away benefits and put on a wage freeze, it became apparent by the end that really they just wanted the clients we had but not our business.
Which was sad, for a time we had something great.
romney is not a neo-con
he happens to be a former republican governor of a liberal state where he passed a government health care law that became the model for the current ObamaCare
The buyers will pay themselves huge "consulting" fees and borrow at least three times the company's value/worth, spending none of it on growth and everything on themselves and their premier shareholders. The hollowed out shell will be saddled with impossible debt as jobs are wiped out, shipped away, and a fragile shell of a company will pretend as long as it can that it's still viable, scrrewing everyone and everything in its past.
You can watch their m.o. in the histories of Kay-Bee Toys, Dunkin Donuts, and Continental Bakeries just to name a few off the top of my head.
This is the sad fate in store for companies that are relatively cheap to buy compared to how much debt they can still take on.
Some vulture capital firm will swoop in, borrow a bunch of money to take them over, then force the poor company to pay them back for the takeover costs, plus every other last cent the victim is now capable of borrowing. They make millions (sometimes) billions without risking a cent once the takeover is complete.
Everybody wins. Well, except perhaps for the banks and their investors when the companies go backrupt. And the workers who thought they were dedicating their toil to making products people wanted, not creating temporary paper value for rich folks to come in and loot.
This is why they call themselves "job craters". They don't spell it that way in print of course, but we all know what they mean when they say it.
BMC products were the bane of my existence at a previous job. Typical "Enterprise" crap. Costs a fortune, theoretically can do almost anything you want it to if you throw enough consultants and programmers at it. Out of the box it does very little.
Any insufficiently advanced magic is indistinguishable from technology.
Make no mistake, romney is a neo-con.
Neo-con: a conservative who supports a strong-pro-Israel middle easy policy. I don't think Romney had a position either way on that - he was pretty focused on domestic stuff. "Neo-con" doesn't mean "those guys I hate" - you can still just say "those guys I hate", it's OK.
Socialism: a lie told by totalitarians and believed by fools.