tag:blogger.com,1999:blog-14162253.post7377966132401322450..comments2024-03-28T18:57:15.124-06:00Comments on Wash Park Prophet: Frontier's CollapseAndrew Oh-Willekehttp://www.blogger.com/profile/02537151821869153861noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-14162253.post-44360586762934181082008-04-13T16:20:00.000-06:002008-04-13T16:20:00.000-06:00"Collapse"? Isn't that melodramatic overstatement..."Collapse"? Isn't that melodramatic overstatement?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14162253.post-82411000732663022932008-04-11T17:00:00.000-06:002008-04-11T17:00:00.000-06:00FirstData, based here in Denver, was recently boug...FirstData, based here in Denver, was recently bought out by KKR, the same people that orchestrated the leveraged buy-out of RJR Nabisco in 1988, the only beneficiaries of which being KKR and their friends.<BR/><BR/>I question whether if FirstData were still truly a Denver company that it would pull such a vicious move on another Denver company. I question, given KKR's track record, whether there are ulterior motives.<BR/><BR/>Another possible explanation is the mere shortage of cash in the banks. When FirstData wrote "due to economic conditions", they may have been in part referring to themselves and partner financial institutions. Frontier may just be the latest victim of the subprime crisis. And this may be what a 21st century bank run looks like: not long lines of men trying to withdraw cash from their banks, but rather companies trying to get their credit card payments.Michael Malakhttps://www.blogger.com/profile/10007582156392845677noreply@blogger.com