[DML] Re: DMCH Open House - Haddad speech.

["jtrealtywebspannet" <jtrealty@xxxxxxxxxxxxx>]

I did not mean to infer that everything bad that happened to the UK was all because of what happened to DMC. I was trying to show that when the climate for business investment changed DMC was not the only company to suffer and that was one of the things that caused the economy to start downwards (or at least accelerate it down). Things did not start to improve again until the EU got going and Airbus became successful. When a government starts using business as a "whipping boy" the economy suffers. Too bad no one learns from the past huh? This is EXACTLY what we are going through now! From all that I have read the ultimate failure of DMC was the British government forcing DMC into bankrupcy. It was within their power to save it if they wanted to. The could have renegotiated more favorable repayment terms. I guess they weren't "To Big To Fail".
David Teitelbaum

 I also don't think you can really say Britain's economy fell because of  
> DMC,
> because the story was that most of Ireland was unemployed before DMC  
> arrived.
> 
> -Mike
> 
> On Thu, 20 Oct 2011 13:56:25 -0400, jtrealtywebspannet  
> <jtrealty@...> wrote:
> 
> > The assumption that JZD created DMC just to steal some money from the  
> > investors does not make sense. His ego drove him to fashion his own car  
> > company and his own brand. That ego would have been (and ultimately was)  
> > crushed when the whole thing came apart. No one is saying he is not  
> > without blame for what happened but his intentions (as I see them) were  
> > to be a successful owner of a large car company. He went to great  
> > lengths to try to keep the whole thing going and was so desperate he  
> > associated with people he probably knew were trouble. Along  the way he  
> > probably did step over a lot of bodies, Haddad must have been one of  
> > them. Remember, JZD was not running a charitable organization, he was in  
> > this for profit. Had it been successful he would have made a LOT of  
> > money, that is the way Capitalism works. Unfortunately he gambled big  
> > and lost big (along with his investors). Yes, there is a whole lot more  
> > to this than the missing $18M. Anyway it must have been interesting to  
> > hear Hadadd's story in person. A side note, there was a LOT of  
> > collateral damage from the whole affair. Arthur Anderson went bust, Lear  
> > Fan went bust, Legend Industries went down, and it can be said the seeds  
> > of Britain's economic woes started then.
> > David Teitelbaum
>




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