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Its owner of nearly a decade, American asset management firm Goldentree is said to be in talks with investmentbanks to explore a potential sale of the chain, with sources telling The Sunday Times that it is gunning for a £1.2bn offer for the 595 hotels. It was then taken over by GoldenTree in 2012.
Even when you read that announcement from — that was 2012 — RITHOLTZ: 2012. BARATTA: — we’re probably three times the size as we were in 2012. BARATTA: The media conglomerate? RITHOLTZ: — firms or private equity firms? BARATTA: Yeah. The first job for Morgan Stanley was McCown De Leeuw.
And then in 2012, I think Berkshire Hathaway initiated its buybacks with a cap, which is, you know, that they will do buybacks as long as the price was less than intrinsic value. This is a conglomerate in the 1970s. And again, some history, until 2009 or ‘10, Warren Buffett actually spoke out against buybacks. RITHOLTZ: Right.
Barry Ritholtz : 00:02:14 [Speaker Changed] Did you do for the campaign in oh eight, and then what’d you do in 2012? I’m not, I can go to a conglomerate who does not care a lick about climate change and convince ’em that I can save them opex with this decarbonized solution.
You know, GE Capital, you have to understand, like, investmentbanking was so hot then. COHAN: Everybody wanted to be an investment banker. I mean, investment bankers were rock stars, right? COHAN: — because, you know, there were 72 partners and 72 non-partners in the investmentbanking group, so very small.
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