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Megan McArdle Explains it all for you
All the 'back and forth' that we had earlier this week had on this site over the bailout of GM can be distilled into short, sharp, clearly expressed genius from Megan McArdle.
My thoughts about her clarity on the subject? In a word - "Exactly".
Posted @ November 14, 2008 03:18 PM | Current Affairs
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This sort of seems to follow from reading McArdle's comments --
To anyone who hasn't seen it, I strongly -- STRONGLY -- recommend you see Other Peoples' Money. The 1991 film, based on a play, is a charming piece that says a lot about the true role of business and financial analysis. Danny Devito plays Lawrence Garfield, someone who buys companies, then breaks them apart and sells them for more total in pieces than they cost to buy. Gregory Peck is the part owner and CEO of his latest target. Penelope Ann Miller plays Peck's daughter, a sharp, savvy corporate attorney who he is somewhat estranged from, but whose help Peck needs to fend off Devito. Complicating this is the fact that Devito sees in Miller the echoes of the beautiful young girl he coveted when in high school but could never have.
The film is fun, and depicts Devito not as an evil man with no concern for others, but a man with a job and a purpose, who does that job, and fills that purpose, well.
Th climax of the film comes when Peck stands up before the stockholders, and gives this magnificent, rousing speech about the company, its history, and so on.
It's such a fantastic speech that you are sure that Peck is going to win, unless Devito cheats him somehow.
But then, to amazement, you find that Devito gets up, and makes a speech that just utterly demolishes everything Peck has said -- and you know he's right!
It's a great film, and I think everyone should see it. It really should be required viewing for kids at around 9th grade.
Posted by: Vootie at November 16, 2008 02:18 AM
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