<<Samberg: It was a brilliant transaction.
Neff: It seemed like they stole it.
Samberg: They took it private and monetized the software business by selling it to Veritas. As I
understand it they put up $800,000 in cash to support this whole structure, and it will come
public again sometime this year. It is going to be one of the highest rates of return ever achieved.>>
"One of the highest rates of return ever". "Brilliant" indeed. They are truly amazing thieves. If all they put up was $800,000.... I thought it was closer to a billion that they put up, and another billion that they borrowed. If Samburg is right, and it was only $800,000, man o man!
Samburg is a crook just like them. "One of the highest rates of return ever" = "theft". Like we said on this and the SEG board last year: some will continue to call these guys thieves, and others will toast them as "brilliant".
Did any read the memo that that Watkins women wrote, the memo to Lay that everyone seems to touting without pointing out that she was NOT in any way, shape or form whistleblowing or chastising Enron for doing something wrong, she was trying to find a "graceful" way out of the mess she saw without the company getting hurt, otherwise her eight? twelve? (I forget how many years she had put in, she says so in the beginning of the letter) years of tenure at Enron will be a liability to her. A real trooper, willing to do illegal acts that enrich a few at the expense of most as long as the company or her interests aren't harmed in the long run.
Is all of corporate America like that?
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