General Discussion

hedgehog

(36,286 posts)

26. Mafia bustout:

Thu Aug 30, 2012, 01:12 PM

Aug 2012

“busting out” a restaurant or other business means buying supplies on credit, then stealing those supplies and leaving the business holding the bag. When the credit ceiling of the business is reached, the business is declared bankrupt and the creditors are stiffed. The mobsters, of course, walk away with all the supplies that were bought on credit and sell them off for a 100% profit. The beauty of the scam is that the business (and the business’ owners) are the ones stuck with the legal responsibility, while the creditors are stuck with the tab.

http://www.zerohedge.com/article/guest-post-busting-out-joint

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Highlight:

TAIBBI's great expose on Bain's role in KB Toys came 228 days after reported/discussed at DU. [View all] grantcart Aug 2012 OP

KB Used to Have Really Good Toys AnnieBW Aug 2012 #1

This is why we can't have good toy stores. grantcart Aug 2012 #3

When this act of destruction happened to KB toys I had young grandchildren.... northoftheborder Aug 2012 #2

Matt Taibbi quotes a Wall Streeter who says all that Romney knows how to do is "the bustout". reformist2 Aug 2012 #4

Yeah the Sopranos had several, the best was the one that they did with the sporting goods store grantcart Aug 2012 #5

I wondered what happepned to them. They were the best toy store with very reasonable prices..much nanabugg Aug 2012 #6

Wealth doesn't simply evaporate. Tricks like "dividend recapitalization"... NYC_SKP Aug 2012 #7

Thanks grantcart Aug 2012 #8

K&R cliffordu Aug 2012 #9

Harumph, harumph, harumph grantcart Aug 2012 #10

OK, smartass..... cliffordu Aug 2012 #12

Stay thirsty my friend. grantcart Aug 2012 #13

That obvious, hmm? cliffordu Aug 2012 #18

Your upthread comment made me think of Dos Equis grantcart Aug 2012 #30

Izzat ME???? cliffordu Aug 2012 #31

are you still thirsty? grantcart Aug 2012 #34

Still thirsty.... cliffordu Aug 2012 #36

A lot of unusual people post on DU -- unusual in different ways. JDPriestly Aug 2012 #11

morning kick grantcart Aug 2012 #14

wow! Txs grantcart k and r goclark Aug 2012 #16

tks grantcart Aug 2012 #17

Here is another K for September goclark Sep 2012 #42

it's entirely possible that at least some "outsiders" do look through DU magical thyme Aug 2012 #15

You should read grantcarts original...... cliffordu Aug 2012 #19

I know for a fact they do. I saw instances of it when I was lurking here. One was the liberal HiPointDem Aug 2012 #38

I always wondered what happened to that toy store. efhmc Aug 2012 #20

sad for the store, sad for the employees. grantcart Aug 2012 #21

Yes and for the consumer who didn't want a big box store. efhmc Aug 2012 #22

+1 Blue_Tires Aug 2012 #24

Something disturbing BarackTheVote Aug 2012 #23

This is not an election, its an intelligence test for the country. Welcome to DU. grantcart Aug 2012 #25

The leveraged buyout is ongoing. Cities are being forced into bankruptcy, assets being HiPointDem Aug 2012 #39

Mafia bustout: hedgehog Aug 2012 #26

and then burn it down and get the insurance. grantcart Aug 2012 #27

This is not vulture capitalism hootinholler Aug 2012 #28

just curious what is the difference between vulture and predatory capitalism? grantcart Aug 2012 #29

Good question ~ keep kicked goclark Aug 2012 #32

I was really just pointing out that Bain's behavior was more like a predator than a scavenger hootinholler Aug 2012 #35

ah got it grantcart Aug 2012 #37

I remember going to KB Toys as a child and always wondered what happened to them. Puregonzo1188 Aug 2012 #33

great reminder TeamPooka Aug 2012 #40

welcome to DU grantcart Aug 2012 #41