Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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To: RockyBalboa who wrote (3265)	11/27/2000 6:44:00 PM
From: Mad2	Read Replies (2) of 3543

Mad2, there is perhaps much money coming from germany... read: I agree wholeheartedly! Problem with Germans for the past few years is their desire to invest outside of Germany (due to high cost labor). I have seen German Companies bid 50-70% higher than American counterparts. In one example I can give we went up against one of Germany's larger chemical speciality firms (3 yrs ago). Ourselves and one very large US (public) chemical firm put roughly 15 mil on the table for a midwest chemical mfg business being auctioned. The German firm purchaced the business for 27 mil (and they have lost their ass on it!) paiding 12 mil more than it was worth (75-80% more than necessary!). Either the manager involved had too much to spend and was lazy (or a idiot) or they will pay more than 7-10X EIBIT IMO its driven by German's fear of their strong labor unions and resulting desire to invest in USA. mad2

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