When Cohen is getting ready for work each morning I wonder if he thinks "I could have been a real CEO..." as he's strapping on his clown shoes and squeezing his 14th colleague into the car for his morning commute to the abandoned mall GameStop is presumably headquartered in.
Cohen doesn't even really have the money for his. He doesn't have enough Gamestop shares authorised for the stock portion of his bid, and it is unclear if he can even get the proposed increase to 2.5bn shares voted through - or whether that would even be enough. He also doesn't have a firm commitment for most of the cash portion. He has a letter from TD stating that they believe they can raise the necessary $20bn, but they also assume that the debt of the combined entity would still be investment grade, which is highly doubtful due to the large debt load the transaction would generate. "Not credible" is exactly what this bid is.
What's more, this deal is completely unattractive from the POV of the Ebay shareholders, because they basically get three things: 1) Ebay takes on debt to pay out $62.50 per share in cash, 2) They own Gamestop, 3) Cohen becomes CEO of Ebay. The first thing they could easily do on their down. The second thing they could also do, but Gamestop's actual business is close to worthless. The third thing would replace Ebay's successful management with a guy who has barely done anything in five years of running his current company.
The only one who wins here is Cohen, because he gets a new job, and the transaction would most likely count towards the market cap milestone in his current moonshot pay package that he has no way of achieving otherwise.
I can understand when WB can tolerate or even want Ellison at helm, because that is one ruthless mean MF with his own dollars, regardless of their provenance, plus an endless network of corrupt friends. He is like Bobby Kotik of enterprise, everyone hates him with every fiber of their being but he can make money.
Now the question is why would any shareholder accept an incompetent and deluded narcissist with a horrible business track record and practically bailed out of bankruptcy by the fooled and lied to individual investors. Even if he finds a few billions tomorrow, why would you even entertain such a thought? This guy can't make any money and never will.
When Cohen is getting ready for work each morning I wonder if he thinks "I could have been a real CEO..." as he's strapping on his clown shoes and squeezing his 14th colleague into the car for his morning commute to the abandoned mall GameStop is presumably headquartered in.
Pretty judgmental. Cohen is the CEO of a multi billion dollar company. He must have done something right to get there.
I mean its comforting to think that. But its not impossible he's there because of luck or circumstance....
Cohen doesn't even really have the money for his. He doesn't have enough Gamestop shares authorised for the stock portion of his bid, and it is unclear if he can even get the proposed increase to 2.5bn shares voted through - or whether that would even be enough. He also doesn't have a firm commitment for most of the cash portion. He has a letter from TD stating that they believe they can raise the necessary $20bn, but they also assume that the debt of the combined entity would still be investment grade, which is highly doubtful due to the large debt load the transaction would generate. "Not credible" is exactly what this bid is.
What's more, this deal is completely unattractive from the POV of the Ebay shareholders, because they basically get three things: 1) Ebay takes on debt to pay out $62.50 per share in cash, 2) They own Gamestop, 3) Cohen becomes CEO of Ebay. The first thing they could easily do on their down. The second thing they could also do, but Gamestop's actual business is close to worthless. The third thing would replace Ebay's successful management with a guy who has barely done anything in five years of running his current company.
The only one who wins here is Cohen, because he gets a new job, and the transaction would most likely count towards the market cap milestone in his current moonshot pay package that he has no way of achieving otherwise.
I can understand when WB can tolerate or even want Ellison at helm, because that is one ruthless mean MF with his own dollars, regardless of their provenance, plus an endless network of corrupt friends. He is like Bobby Kotik of enterprise, everyone hates him with every fiber of their being but he can make money.
Now the question is why would any shareholder accept an incompetent and deluded narcissist with a horrible business track record and practically bailed out of bankruptcy by the fooled and lied to individual investors. Even if he finds a few billions tomorrow, why would you even entertain such a thought? This guy can't make any money and never will.
“Well he would say that, wouldn’t he?” - Mandy Rice-Davies
Cohen should be forced out of GME after the disaster of an interview he gave on CNBC last week about this. Absolute clown show.
This — as the kids are saying these days — is “giving” pouty boyfriend who doesn’t want to accept the breakup energy.
This isn’t even a breakup… that implies they were ever together.
this is a random fan asking out a celebrity, and the celebrity saying “I don’t know you”