$15 billion loss! Holy sh--. That's a disaster what happened
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How much did baker lose. $15 billion? Woohoo what a massive screw up. You'all wanna buy my company only $10b haha
15 billion for the old BJS is way over priced . I have always worked for a competitor and granted BJS was a good group of people and a tough competitor . ( In the PP business ) That company was never sold for 15 billion. I remember when BHI bought BJS , everyone in the PP business cheered because another competitor was gone. BJS had technology that was so much better then anyone else but when BHI took over it seemed to end.
The bottom line here seems to be BH paid around $15B for BJ or maybe more and now trying to sell it for around $1B or maybe less on the condition they have nothing to do with it because they don't know how to run this service which is losing money big time. This is a huge clusterf--k but good for a laugh over drinks.
What a mess BHI management have got themselves in. They've fallen off the cliff now.
BHI management paid way more than $9B for BJs. Just audit expense reports.
They will have to do a sell / merge with PP . The value of PP is badly depreciated , GE will finance a buyer . For PP to survive it must have to have all BHI management removed . BHI has admitted that they have no idea how to make PP profitable. This is public information! Known quite well on the street . If BHI paid 9 billion for PP , there is no way they get 9 B from a buyer today.
BHI is already down, GE will pick-up only divisions that are profitable all that is unprofitable is going to be sell.
Buy for $9B and sell for $2B is good business management if you want to Go down the toilet
The saying in the investment world is anything that the new BHI management touches is either sold or ruined .
BHI paid $9 billion for BJS !!
You are correct Franks was able to build a good company by hard work and doing the right things at the right time . The thing now is Franks believes they have their savior and they want to grow the company . It is hard to understand how Franks can pull off buying PP if their market cap is just over 2 billion . Didn't BHI pay over 5 billion for BJS . Sounds like PP is a failed company that BHI is trying to give away . Anything this BHI management team touches is a train wreck . Get ready for more analysts from the east coast that know nothing . More people less direct work .