The Vulture Investors / Edition 1

The Vulture Investors / Edition 1

by Hilary Rosenberg
     
 

ISBN-10: 0471361895

ISBN-13: 9780471361893

Pub. Date: 02/07/2000

Publisher: Wiley

"What kinds of investors actually choose to make their living by seeking out troubled companies and becoming mired in the complexities and contentiousness of a bankruptcy or out-of-court workout?" -Hilary Rosenberg (from The Vulture Investors) Welcome to the big-time, big-stress-and big-profit-world of vulture investing. From the eleventh-hour save of Donald

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Overview

"What kinds of investors actually choose to make their living by seeking out troubled companies and becoming mired in the complexities and contentiousness of a bankruptcy or out-of-court workout?" -Hilary Rosenberg (from The Vulture Investors) Welcome to the big-time, big-stress-and big-profit-world of vulture investing. From the eleventh-hour save of Donald Trump's casinos, to the tempestuous history of Wheeling-Pittsburgh Steel, to the rocky restructuring of the massive Revco discount drugstore chain, Hilary Rosenberg takes us on a fast-moving journey through some of the major bankruptcies of the 1980s and 1990s-and brings to life the infamous, talented arbiters at the heart of their recovery. Meet the so-called "vulture investors" who cast their sights on distressed concerns, buy out debt, and skillfully forge their way to rich returns. Quietly upstaging the flashier corporate tycoons and raiders of the previous decade, men like Leon Black, Ronald LaBow, Sam Zell, Talton Embry, and Martin Whitman have helped to make a more efficient market in this obscure sector of investment, and their success may even inspire the quickly evolving business cultures of Asia and Latin America. The vulture investors made their way to the forefront of American business during the troubled period when declaring bankruptcy became commonplace among debt-heavy companies. Buying out debt and seeing through the rehabilitation of companies as well-known as Sunbeam and Bloomingdale's, these unique players have changed the face of the distressed securities market. In her own animated, absorbing, and original style, Hilary Rosenberg creates thoroughly researched reenactments of the vultures' greatest exploits to offer an intriguing examination of their methods and their madness-and reveals the important role of these controversial characters in aiding worldwide economic recovery.

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Product Details

ISBN-13:
9780471361893
Publisher:
Wiley
Publication date:
02/07/2000
Edition description:
Revised
Pages:
416
Product dimensions:
6.00(w) x 9.00(h) x 1.06(d)

Table of Contents

Love among the Ruins.

A Field Guide to Vultures.

Power Play.

The Committeeman's Coup.

The Three-Headed Monster at Wheeling-Pittsburgh Steel.

Fixing Revco.

The Raid on Allegheny International.

Closing In.

Convenience in Bankruptcy Shopping.

Surviving at the Bottom.

The Grave Dancers.

A Flash and a Star.

Conclusion.

Notes.

Index.

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