I work for a company that deals in a highly specialised niche market. We have two, maybe three competitors on the entire planet. We're global, and we're pretty successful. We're also listed. A few months ago, a private equity group started sniffing around. Never mind what the CEO said, we knew the people involved didn't recognise the real value of our businesses, they were just looking to asset strip and sell off. Well, thanks to the credit crunch, their backers have pulled out and they've had to withdraw their offer. Any other silver linings out there?
Salvage prices are starting to fall. For a long time, those buying outside the US had half off due to ridiculous exchange rates. Hopefully, pricing will come back into line and help us sell even more. People HAVE to drive.
The credit crunch probably means that American municipalities will stop wasting money by financing new stadiums and ballparks for professional sports teams. These were never a good deal, and with interest rates on even municipal bonds going up and other spending a higher priority than usual in order to combat unemployment and recession, this kind of sheer waste should grind to a halt, hopefully never to resume even after markets recover.
Credit crunch. Sounds like a new breakfast cereal. Easy to chew and swallow, but takes forever to traverse your digestive tract. Leaves you bleeding and half dead, yet still profoundly relieved as it exits the other side. I wonder what the cartoony mascot would look like.
