Tuesday, October 11, 2011

The myth of Herman Cain

Jay Raskin points out that Herman Cain was a failure as the CEO of Godfather's Pizza:
If we look at sales figures which are in the public record, sales at Godfather's Pizza, adjusted for inflation dropped over 40% from the year before he took over to his final years. It is hard to imagine that profits went up at this time. Godfather's Pizza fell from the 5th largest Pizza chain when Cain took over to the 11th largest Pizza chain by the time he left the company 15 years later.

Cain bought Godfather's Pizza in a management leveraged buyout. In general, management leveraged buyouts are a device that company managers use to defraud stockholders of company profits. In this case, I believe the only reason there is no fraud in this case is because Cain was unable to produce any profits in the years he was CEO at Godfather's pizza. In other words, it was a fraud scheme that failed due to Cain's inept management.


Anonymous said...

There in not one black in this country that got where they are on their own. From the day a black is born in this country the federal, state, and county governments do everything within their power to make sure this black gets every advantage possible and it's all paid for by the White tax payer. The federal government intimidates companies, business owners, and corporations to place blacks in high positions or else. Schools and colleges pass out diplomas to people that can't even spell diploma. Criteria and standards are lowered to a point that blacks can get jobs and positions that they have no capacity to do, they are just empty suits.
Just wait till that black surgeon starts cutting on you, that black airline pilot experiences his first in air emergency, or that first black man gets elected US president... no wait. Anyway what this country needs is for whites to return to the White House as president and vice president.

Average Joe said...