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Title: Chinese company buys U.S. movie theater chain AMC for $2.6bn in largest ever takeover deal
Source:
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URL Source: http://www.dailymail.co.uk/news/art ... -Dalian-Wanda-Group-2-6bn.html
Published: May 21, 2012
Author: Unknown
Post Date: 2012-05-21 18:54:46 by sneakypete
Ping List: *Economic News* Subscribe to *Economic News*
Keywords: None
Views: 2267
Comments: 7
The second-largest U.S. movie theater chain has been bought by a Chinese company today in a historic takeover. AMC Entertainment Holdings was sold for $2.6 billion to Dalian Wanda Group Company in a setback to President Obama's attempts to prevent American businesses being eclipsed by their Chinese rivals. Wanda said the deal would create the world's biggest movie theater operator and the Beijing-based company revealed it would invest an additional $500 million in AMC's development. AMC operates 346 cinemas, mostly in the United States and Canada, and has 23 of the 50 highest-grossing U.S. outlets. The multi-billion dollar deal undermines President Obama's promises to re- stimulate the economy at home. Following his State of the Union address in January, Obama told a manufacturing plant in Iowa: 'We need to make it easier for American businesses to do business here in America.' In February, the President urged Congress to adopt tax proposals that reward technology companies and other businesses that create jobs in the U.S. rather than overseas. He said: 'Companies... are realizing that even when we can’t make things cheaper than China, we can make things better. That’s how we’re going to compete globally.' At a signing ceremony for the deal in Beijing today, Wanda chairman Wang Jianlin said: 'We support AMC becoming bigger, not only in the United States but in the global market.' AMC's owners include Apollo Global Management, Bain Capital, the Carlyle Group, CCMP Capital Advisors and Spectrum Equity Investors. Read more: www.dailymail.co.uk/news/...147569/Movie-theater-AMC- bought-Chinese-company-Dalian-Wanda-Group-2-6bn.html#ixzz1vXyxHxp9 Read more: www.dailymail.co.uk/news/article-2147569/Movie- theater-AMC-">www.dailymail.co.uk/news/...147569/Movie-theater-AMC- bought-Chinese-company-Dalian-Wanda-Group-2-6bn.html#ixzz1vXy7BPxI www.dailymail.co.uk/news/...147569/Movie-theater-AMC- bought-Chinese-company-Dalian-Wanda-Group-2-6bn.html">Click for Full Text!
Poster Comment: Hmmmm,Bain Capital and the Carlyle Group? Somebody correct me if I am wrong,but wasn't Boy Jorge and his inner circle on the boards of both corporations at one time or another,or had close family that was/is? Not that I suspect this would have anything to do with Boy Jorge selling everything in sight to the Chinese,mind you. If I had a suspicious mind I might suspect that sort of thing,but I don't. BTW,I wonder if this means the Chinese will stop making and selling counterfeit DVD's?
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#1. To: All, *Crime and Corruption* (#0)
ping
"It is impossible to talk reason with those who can only parrot Party Slogans." sneakypete Sept 2011 Stay Hungry...Stay Foolish --Steve Jobs Steve Jobs,life-long Dim,and major Barry Soetoro supporter.
The Carlyle Group, integrated by the Bush and bin Laden families awarded a billion dollar contract to "rebuild" Iraq:
"If men through fear, fraud or mistake, should in terms renounce and give up any essential natural right, the eternal law of reason and the great end of society, would absolutely vacate such renunciation; the right to freedom being the gift of God Almighty, it is not in the power of Man to alienate this gift, and voluntarily become a slave." Samuel Adams, Rights of the Colonists, 1772
Not one dime of mine will be spent at these theaters.
"If men through fear, fraud or mistake, should in terms renounce and give up any essential natural right, the eternal law of reason and the great end of society, would absolutely vacate such renunciation; the right to freedom being the gift of God Almighty, it is not in the power of Man to alienate this gift, and voluntarily become a slave." Samuel Adams, Rights of the Colonists, 1772
Are you the sort of person who believes in conspiracies--the Trilateral Commission secretly runs the world, that sort of thing? Well, then, here's a company for you. The Carlyle Group, a Washington, D.C., buyout firm, is one of the nation's largest defense contractors. It has billions of dollars at its disposal and employs a few important people. Maybe you've heard of them: former Secretary of State Jim Baker, former Secretary of Defense Frank Carlucci, and former White House budget director Dick Darman. Wait, we're just getting warmed up. William Kennard, who recently headed the FCC, and Arthur Levitt, who just left the SEC, also work for Carlyle. As do former British Prime Minister John Major and former Philippines President Fidel Ramos. Let's see, are we forgetting anyone? Oh, right, former President George Herbert Walker Bush is on the payroll too. The firm also has about a dozen investors from Saudi Arabia, including, until recently, the bin Laden family. Yes, those bin Ladens. Is it any wonder that Internet sites with names like paranoiamagazine.com are rife with stories about Carlyle's shadowy, corrupt global network? And it's not just wackos. "Be careful," a tech entrepreneur in Silicon Valley wrote in an e-mail when he learned I was doing a story on Carlyle. "The rabbit hole runs really deep on this one.'' http://www.carlylegroup.net/thebigguys.htm
"If men through fear, fraud or mistake, should in terms renounce and give up any essential natural right, the eternal law of reason and the great end of society, would absolutely vacate such renunciation; the right to freedom being the gift of God Almighty, it is not in the power of Man to alienate this gift, and voluntarily become a slave." Samuel Adams, Rights of the Colonists, 1772
Great..now there's going to be MSG in the popcorn.
I'm sure that was just a big old coincidence. Nobody with a "R" behind their name would do what you are suspecting. Especially not a fabulous heterosexual man like Boy Jorge.
"It is impossible to talk reason with those who can only parrot Party Slogans." sneakypete Sept 2011 Stay Hungry...Stay Foolish --Steve Jobs Steve Jobs,life-long Dim,and major Barry Soetoro supporter.
Not unless they charge you extra for poisoning you. This is the Chinese we are talking about,and they give nothing away.
"It is impossible to talk reason with those who can only parrot Party Slogans." sneakypete Sept 2011 Stay Hungry...Stay Foolish --Steve Jobs Steve Jobs,life-long Dim,and major Barry Soetoro supporter.
#2. To: sneakypete (#0)
#3. To: sneakypete (#0)
AMC Entertainment Holdings was sold for $2.6 billion to Dalian Wanda Group Company in a setback to President Obama's attempts to prevent American businesses being eclipsed by their Chinese rivals.
#4. To: sneakypete (#0)
#5. To: sneakypete (#0)
#6. To: We The People (#2)
The Carlyle Group, integrated by the Bush and bin Laden families awarded a billion dollar contract to "rebuild" Iraq:
#7. To: Thunderbird (#5)
Great..now there's going to be MSG in the popcorn.
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