Evil Big Fish!
Another update to the Pfizer-Wyeth saga... I don't know if you'd read the details of the news on this buyout... Apparently, Pfizer plans to finance this buyout in a 3-pronged approach:
$22.5 billion in cash
$22.5 billion in debt
$23.0 billion in equity
Another update to the Pfizer-Wyeth saga... I don't know if you'd read the details of the news on this buyout... Apparently, Pfizer plans to finance this buyout in a 3-pronged approach:
$22.5 billion in cash
$22.5 billion in debt
$23.0 billion in equity
And the $22.5 billion in debt will be financed by 5 banks, of which 4 of the banks had been bailed out not so long ago by the US Government with the taxpayers' hard-earned dollars. The 5 banks are:
1. Bank of America/Merrill Lynch,
2. Barclays,
3. Citigroup,
4. Goldman Sachs and
5. J.P. Morgan/Chase.
Except for the British-owned Barclays, the rest received money from the Congressional bailout.
It's EVIL!!!
You might ask, WHY?
Because from now until the transaction goes through, they are going to lay off 26,000 employees! Employees who had been faithfully paying their taxes. Do you now see the cruelty? They are using the taxpayers' dollars to buy Wyeth, and then throw many of those taxpayers into the streets to starve. That's not all... they already cut 4,700 jobs in 2008. Those poor fellas who got retrenched... I feel for them and their families. I think you must have read about the guy who killed his entire family a few days ago. How tragic!!!
Good thing I'm going to have no part to play in this evil scheme. I don't know about you, but this is how I personally view this so-called "beneficial synergy". Do let me know what you think about this, ok?
Back to work (on the third day of Chinese New Year... sob...) Have a beautiful Wednesday, Friends! (And let's cook the evil fish for dinner)
3 Comments:
I wonder how the big wigs can sleep at night knowing all those people who helped them to get where they are will no longer be getting ahead because they've no longer got a job?
I've only been laid off on one occasion in my life and it was because a bigger fish at the company I worked for. It wasn't a good feeling!
The big fish eat the small fish--is that happen all the time? Well, really bad impression about the big fish kind of thing---
anyway--thanks for the update!
It's a cruel world out there... in the name of maintaining the company's profitablity, they retrench people who have a family to feed.
Sometimes, I wish the smaller fish will eat up the evil big fish. All the small fishes.
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