From RAWK....
His past dealings...
The University of Texas Investment Management, scandal.
Tom Hicks began raiding the University's public funds after the University refused to invest in his dental company in the early 90's, that dental supply company that went bankrupt three years later.
The investment decisions of UTIMCO were made largely in secret, though subsequent research has uncovered some of the areas to which the funds were directed.
1996 UTIMCO invested = $20 million in a deal involving the Bass family, which became extraordinarily rich with the help of Richard Rainwater, who had joined Bush in the Texas Rangers deal. These are only a handful of the deals organized by Hicks, which by no means benefited only Bush’s friends—they also benefited Hicks.
"Almost a third of the $1.7 billion has been committed to funds run by Hicks' business associates or friends. These questions have remained unanswered and Hicks has been unwilling to answer questions about his activities on the publics behalf. "
- The Houston Chronicle
Bad deals made by Hicks Muse Tate between 2000-2004.
* Hicks' telecom investments ended very ugly. All five of his businesses he invested in, would end up having to file for bankruptcy. With one collapsing in only six months after receiving a infusion of $230 million infusion from Hicks' firm.
* Then there was the meltdown of the Argentine economy, which hit three Hicks' firms investments - two of which are in default, the other in bankruptcy.
* His you have him firm's $500 million investment in Regal Cinema that hit the wall when the company declared bankruptcy.
The Texas Ranger deal.
Bush and co. made $15 million from the Texas Rangers deal.
Hicks bought the Texas Rangers from Bush and co. in 1998. The price was $250 million, three times what Bush and co. had paid for it.
In the deal Hicks gets free stadium - payed for with tax payers money, it come out taxpayers paided for the stadium built for the Stars aswell.
Hicks attempts to tap in to the lucrative South American market
1999 - Tom Hicks' buy out firm, announced a deal in April giving it the marketing and licensing rights for Corinthians and later Cruzeiro.
They were immediately promised these things:
Huge transfer funding; and
New stadiums.
They got neither, Hicks lost $500 million in two years andto this day any people it was case of pure money laundering.
"Hicks waited too long to reinvest the profits, it hurt Corinthians' performance and irritated fans used to a better playing team"
"He warns that the strategy may cut into future team profits if Hicks, Muse doesn't get busy building the team up again."
- Carlos Roberto de Mello, Corinthians' vice president.
The sale of ConAgra's beef operations - Swift and Company.
The transaction, valued at about $1.4 billion, took place in August, when a 54 percent ownership of Swift passed to an investor group led by Hicks, Muse, Tate & Furst, Inc. (HMTF) and Gillet in the background.
Seeing as it was Hicks, Muse, Tate & Furst, Inc. - or the now HM Capital heading up this transactions, with Gillet in the passenger seat. It's safe to say it was as leveraged buyout.
The Management Corporation of Vail Associates - a company George Gillet brought in 1984, took over the managerial reins.
It seems George Gillet is in debt to Tom Hicks, without the track record of Hicks' firm - Hicks, Muse, Tate & Furst, Inc - when it came to leveraged buyouts, George Gillet wouldn't had the opportunity to be part owner of Swift.
Since 2002 Swift and company have generated sales of $7.73 billion dollars.
Business men like Hicks are absolute devotion to making money, it often conflicts with real values and it complicates things for people involved. This attitude comes from the fact that money to someone like Hicks is a measurement of power, a proof of worth that has a recognized and accepted meaning to others who share his believes - not matter how deluded they are.
The amount of money he has made for himself though lies is amazing, the amounts he has lost are too, he lost 500 million and had to declare bankrupt a few years ago, although lucky for him he is a king of the leveraged buyout - so having capital isn't so important. Having bank will to lend it to you is but if your friends with Bush no bank will turn you away - especially any American bank.
For somebody who is in bed with Bush should we should not surprised the slightest and hey - he is great at what does - hijack business deals using lies and trickery. Many in America have compared him to Michael Milken, a man who pleaded guilty to six felonies in the biggest fraud case in the history of the US securities industry and there is proably more truth to that than there is to weather Hicks has an honest bone bone his body.
There are times were having a person like Hicks around is useful, when your is against the wall, if you want to buy something and you can't afford it Hicks is your man, a true business man of the 21st century. Some idiots want to be him, everbody else despises him. His idea is to never sells his investments unless you double your money - hence the 1 billion valuation of Liverpool FC.
He is not interested in a small profit, and doesn't care if the investment defaults or goes bankrupt.
His past dealings...
The University of Texas Investment Management, scandal.
Tom Hicks began raiding the University's public funds after the University refused to invest in his dental company in the early 90's, that dental supply company that went bankrupt three years later.
The investment decisions of UTIMCO were made largely in secret, though subsequent research has uncovered some of the areas to which the funds were directed.
1996 UTIMCO invested = $20 million in a deal involving the Bass family, which became extraordinarily rich with the help of Richard Rainwater, who had joined Bush in the Texas Rangers deal. These are only a handful of the deals organized by Hicks, which by no means benefited only Bush’s friends—they also benefited Hicks.
"Almost a third of the $1.7 billion has been committed to funds run by Hicks' business associates or friends. These questions have remained unanswered and Hicks has been unwilling to answer questions about his activities on the publics behalf. "
- The Houston Chronicle
Bad deals made by Hicks Muse Tate between 2000-2004.
* Hicks' telecom investments ended very ugly. All five of his businesses he invested in, would end up having to file for bankruptcy. With one collapsing in only six months after receiving a infusion of $230 million infusion from Hicks' firm.
* Then there was the meltdown of the Argentine economy, which hit three Hicks' firms investments - two of which are in default, the other in bankruptcy.
* His you have him firm's $500 million investment in Regal Cinema that hit the wall when the company declared bankruptcy.
The Texas Ranger deal.
Bush and co. made $15 million from the Texas Rangers deal.
Hicks bought the Texas Rangers from Bush and co. in 1998. The price was $250 million, three times what Bush and co. had paid for it.
In the deal Hicks gets free stadium - payed for with tax payers money, it come out taxpayers paided for the stadium built for the Stars aswell.
Hicks attempts to tap in to the lucrative South American market
1999 - Tom Hicks' buy out firm, announced a deal in April giving it the marketing and licensing rights for Corinthians and later Cruzeiro.
They were immediately promised these things:
Huge transfer funding; and
New stadiums.
They got neither, Hicks lost $500 million in two years andto this day any people it was case of pure money laundering.
"Hicks waited too long to reinvest the profits, it hurt Corinthians' performance and irritated fans used to a better playing team"
"He warns that the strategy may cut into future team profits if Hicks, Muse doesn't get busy building the team up again."
- Carlos Roberto de Mello, Corinthians' vice president.
The sale of ConAgra's beef operations - Swift and Company.
The transaction, valued at about $1.4 billion, took place in August, when a 54 percent ownership of Swift passed to an investor group led by Hicks, Muse, Tate & Furst, Inc. (HMTF) and Gillet in the background.
Seeing as it was Hicks, Muse, Tate & Furst, Inc. - or the now HM Capital heading up this transactions, with Gillet in the passenger seat. It's safe to say it was as leveraged buyout.
The Management Corporation of Vail Associates - a company George Gillet brought in 1984, took over the managerial reins.
It seems George Gillet is in debt to Tom Hicks, without the track record of Hicks' firm - Hicks, Muse, Tate & Furst, Inc - when it came to leveraged buyouts, George Gillet wouldn't had the opportunity to be part owner of Swift.
Since 2002 Swift and company have generated sales of $7.73 billion dollars.
Business men like Hicks are absolute devotion to making money, it often conflicts with real values and it complicates things for people involved. This attitude comes from the fact that money to someone like Hicks is a measurement of power, a proof of worth that has a recognized and accepted meaning to others who share his believes - not matter how deluded they are.
The amount of money he has made for himself though lies is amazing, the amounts he has lost are too, he lost 500 million and had to declare bankrupt a few years ago, although lucky for him he is a king of the leveraged buyout - so having capital isn't so important. Having bank will to lend it to you is but if your friends with Bush no bank will turn you away - especially any American bank.
For somebody who is in bed with Bush should we should not surprised the slightest and hey - he is great at what does - hijack business deals using lies and trickery. Many in America have compared him to Michael Milken, a man who pleaded guilty to six felonies in the biggest fraud case in the history of the US securities industry and there is proably more truth to that than there is to weather Hicks has an honest bone bone his body.
There are times were having a person like Hicks around is useful, when your is against the wall, if you want to buy something and you can't afford it Hicks is your man, a true business man of the 21st century. Some idiots want to be him, everbody else despises him. His idea is to never sells his investments unless you double your money - hence the 1 billion valuation of Liverpool FC.
He is not interested in a small profit, and doesn't care if the investment defaults or goes bankrupt.
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