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Piobaire

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Texasmade

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My friend's dad was the CEO of Dollar Thrifty Car Rental when Hertz acquired them. My friend told me stories about how stupid the Hertz CEO, Mark Frissora, was and was hell bent on getting Dollar Thrifty no matter the cost. Not surprisingly, the Mark was dumped like 2 years after the acquisition for accounting irregularities.
 

jbarwick

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My friend's dad was the CEO of Dollar Thrifty Car Rental when Hertz acquired them. My friend told me stories about how stupid the Hertz CEO, Mark Frissora, was and was hell bent on getting Dollar Thrifty no matter the cost. Not surprisingly, the Mark was dumped like 2 years after the acquisition for accounting irregularities.
I worked for a company where the CEO was pissed his takeover offer for one company was denied so he was hell bent on finding someone else to purchase. We ended up making a bad acquisition because among other things, the capital commitments were 5x the cash flow the business had. This was 2 years before I joined and by the time I left in 2018, we were spinning off the pieces to other companies for peanuts of our purchase price because we couldn't afford to continue to improve assets without returns. For some reason, part of my job was reading Analyst reports and then typing up summaries for our CFO and they would always comment how bad the acquisition was and would speculate at what point we would start selling the assets.
 

Texasmade

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I worked for a company where the CEO was pissed his takeover offer for one company was denied so he was hell bent on finding someone else to purchase. We ended up making a bad acquisition because among other things, the capital commitments were 5x the cash flow the business had. This was 2 years before I joined and by the time I left in 2018, we were spinning off the pieces to other companies for peanuts of our purchase price because we couldn't afford to continue to improve assets without returns. For some reason, part of my job was reading Analyst reports and then typing up summaries for our CFO and they would always comment how bad the acquisition was and would speculate at what point we would start selling the assets.
One of the stories I remember best about the Hertz CEO was when Hertz moved HQ from NJ to FL. The CEO did it under the guise of lower COLA but really he moved the HQ to FL so he could play more golf.
 

Piobaire

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Just some crazy volatility but I'm not making any option moves. Am considering flipping that SPY I bought yesterday for a quick $6-700 this morning as that was most of my non-committed play money for tendies.
 

brokencycle

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I don't see how inflation isn't a medium to long term problem. People concerned about inflation have been mocked for a decade now because we didn't see much inflation after all the QE surrounding 2009. But more recently, we have infused a lot cash into the economy, and productivity growth has slowed and most recently gone negative.

Inflation seems like the natural result of that combination. We'll see: maybe it is just weird, fucked up supply chain stuff and everything will get better in a quarter or two, but I doubt it.
 

Piobaire

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I was thinking about this last night, and more importantly, how it will impact Ol' Piob? I was thinking about those lucky retirees that locked in 12-15% coupons for 30 year Treasuries back in the early 80s. Can you imagine a 15% return, guaranteed, every year for 30 years? Sure would make cash flow planning easy.
 

Marc Voorhees

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I was thinking about this last night, and more importantly, how it will impact Ol' Piob? I was thinking about those lucky retirees that locked in 12-15% coupons for 30 year Treasuries back in the early 80s. Can you imagine a 15% return, guaranteed, every year for 30 years? Sure would make cash flow planning easy.
Jesus Christ, they had things like that!?! Fucking hell the boomers wonder they everyone hates them
 

Piobaire

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jbarwick

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I was thinking about this last night, and more importantly, how it will impact Ol' Piob? I was thinking about those lucky retirees that locked in 12-15% coupons for 30 year Treasuries back in the early 80s. Can you imagine a 15% return, guaranteed, every year for 30 years? Sure would make cash flow planning easy.
But in the moment, would you have known rates were going to decrease? I mean they could go negative in the US which would make the 10-yr at 1.4% look great.
 

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