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Welch used GE Capital to manage earnings. Whenever the company was short revenue or profit or vice versa, Welch could instruct GE Capital to buy or sell assets. The result was GE’s storied ability to always hit its forecasts—and why the stock was so highly valued. It wasn’t that the businesses were managed so well that the numbers were predictable; it was that it had an unregulated bank around to make up the difference whenever it wanted.
How Technology Giants Die
Evan Armstrong
Flooring retailers are like mattress stores. They have 500 brands of flooring products they sell. They work with hundreds of manufacturers, many of whom might have multiple private labels across showrooms. Most retailers do not stock any products. They are mostly showrooms with large format samples and have to order everything to be delivered into their showroom from the manufacturer. When a consumer walks in, it's a terrible experience. It's like old-school buying a mattress. It's very confusing. Things are priced all over the place. The consumer picks a product, and the retailer has to order that product from that manufacturer. They don't carry any inventory. The store is a showroom. They then have to get that product freighted in. The product might be coming from a manufacturer or distributor. Then the retailer does the installation. They have their installation crews. The retailer is critical because the education piece is important.
How an AdTech Exec Transformed the Flooring Industry
every.to
But I think the real reason is that DWAC probably couldn’t have done this deal without lying. It’s not just that DWAC lied in its prospectus by saying it hadn’t had discussions with TMTG when it had. If it had told the truth — if it had said “we’re a SPAC that’s raising money to take Trump Media & Technology Group public” — it wouldn’t have been allowed to do its offering in the first place. A SPAC is supposed to be a blank-check company without any particular private company to take public. If you are raising money to take one particular company public, that’s not a SPAC. That’s just a regular initial public offering. You don’t just file for a blank check; you file for an initial public offering, with all of the regular disclosure about the company’s business and finances.
The APEs Can Be Saved
bloomberg.com
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