I'm curious how well JG made out financially after the buyout/filing? I'm hearing rumors he done very well. With that being said, what other execs made money after this fiasco? Is this why the nephew was promoted to an exec position so late in the game, to ensure a payout at the end?
Yes, but not an executive VP. He didn't get that nod until well into 2011. My understanding is that the executive title qualifies him for a better payout or package, however you wish to refer to it.
Don't know, really don't care! All I know is that I'm out of a job and need to turn my negative energy into positive energy and find a new career!
Yes GJ, good luck finding another VP position in fucking Bristol, TN! Maybe you could take your talents to Jersey and get a VP job at another pharma company. One where your uncle isn't the CEO! Whew, that's a good one!
The company owed almost $1BB. It was sold for $455MM. Somebody tell me how you think JG or anyone else got ANY money from a bankruptcy court. Just curious how your mind works or doesn't work. So lets say you lose your job and can't afford the house you bought 2 years ago. In fact, you have to declare bankruptcy too. Are your neighbors saying, "gee, I wonder how much money they made off their bankruptcy?" You're kind of stupid and ignorant to post such a mindless comment. And no, I'm definitely not a Bristolite. And yes, you need to do the math idiot.
Originally bought for 980 mil. Aldara made 500 mil for four years. Hmm? They "restuctured the loan" Took out a second lien and we were still 900 mil in debt 5 years later. I think he made out just fine. He cashed out two years ago morons. Learn the Trump way of business. Rich get richer and the other poor schlups just keep on keepin on. He has done this twice now.
Exactly. As for the house analogy earlier, let's say two homeowners took out $200K loans for houses which cost $250K. After several years, the house value rises to $350K. Homeowner A keeps making payments on his house, and now owes $100K on his $350K house. Homeowner B refinances up to the new value, and takes $100K off the table and buys a boat, a new car, a blowout wedding for his daughter, and a vacation. All of a sudden, the real estate market takes a dump, and the house is now worth $150K. Homeowner A still owes less than the house is worth, and keeps making payments. Homeowner B now owes $300K on a house worth half that. He cries and whines, and declares bankruptcy because he can't make the payments. What happened to the $100K that he took off the table? Spent and gone. Can't take the vacation back, can't unmarry the daughter. In GW's case, the $100K was the hundreds of millions pulled off the table and put into the pockets of financiers, JG, and lawyers. Like they said earlier, the rich get richer baby. Welcome to America in the year 2011!
Now that sounds like democrats/occupy wall streeters. They screw up big time and make everyone else suffer for their idiotic behavior. Always a victim aren't we!!!
Not a victim. But homeowner B above, who spent money he didn't have and lived a more lavish lifestyle, will get bailed out and have the debt forgiven. The other guy, who played by the rules, will essentially pay for the excesses of B and others like him. Just annoying, that's all. But now we're off topic. The point is, a relatively small number of people made a ton of money off of this graceway deal, and a lot of people are now out of work. A damn shame.
Son, you need a history lesson about who screwed up. You sound like Michelle Bachmann, rewriting history. Did your ancestor win a 240 acre farm from Jesse James in a card game, too?
No daddy, you sound like Obama and his chronic blaming of everyone else and never taking responsibility. You sound like those liberals who think someone owes them for whatever they want.
So, who should get the tax breaks? The middle class (us), or millionaires like JG? Just sayin' Of course we don't have to worry about the payroll tax anymore, do we?
You all sound bitter and unemployed! Why not try your hand at politics? Just like working at Graceway, it isn't honest employment either! Haw, ha, ha, Merry Christmas you failures!
