Posts Tagged ‘Michael Milken’
It May Be ‘Junk’ To Us But LJ Playhouse Turns It Into Treasure
When a corporation grows old and loses energy, a popular plan is to take it over with money borrowed against its liquidation profits, then strip it for profit. That’s the business of high-risk or “junk” bonds and it can make people rich, if they don’t care about what’s ethical, legal or decent. In a tough, well-mounted new drama at the La Jolla Playhouse, Ayad Akhtar elaborates.
When a corporation grows old and slows down, one plan is to take it over borrowing its stock against the value that can be stripped from its wreckage.