Wednesday, July 01, 2009

The Porsche Debacle

I don't know how many of you have followed the debacle between Porsche and Volkswagon but this seems like a script written time and again around the globe this cycle. Takeovers not supporting fundamentals. These deals were pumped like mad by companies like Goldman Sachs and other private equity and investment banking firms. (Every major bank in the U.S.) We said these deals would come crashing down and they sure are. It's apparent a company once known for its engineering excellence has allowed financial idiots to jeopardize the stability of the company.
posted by TimingLogic at 10:17 AM