Koch (Brothers) agrees to buy Molex for $7.2 billion in cash
Source: MarketWatch
Molex makes electronic, electrical and fiber optic interconnection systems and serves the mobile devices, infotech, consumer electronics and automotive markets, among others. Molex reported sales for the fiscal year ended June 30 of $3.6 billion.
Koch Chief Executive Charles Koch characterized the deal as "an exciting acquisition that matches up well with our culture and our core capabilities," while also noting it provides a significant new platform for growth.
...
Earlier this year, Koch agreed to buy $240 million of preferred stock in American Greetings Corp. (AM), which helped finance the card company's plan to go private. Late last year, Koch Industries paid $1.5 billion for a 44% stake in Guardian Industries Corp., the world's fourth-largest maker of glass. Koch also is preparing to help finance a new steel mill in Arkansas
Read more: http://www.marketwatch.com/story/koch-agrees-to-buy-molex-for-72-billion-in-cash-2013-09-09-84855235
Scuba
(53,475 posts)cstanleytech
(26,337 posts)anything and everything.
Blandocyte
(1,231 posts)and maybe sell some Hummels on ebay.
LittleGirl
(8,292 posts)Nobody should have that much money. NOBODY.
PasadenaTrudy
(3,998 posts)AtheistCrusader
(33,982 posts)They have components in practically every electronic thing sold anywhere.
JustanAngel
(44 posts)warrant Koch Brother investing? Electronic auto parts after proof autos can be controlled by hackers? More fiber-optics to collect, log, and search for every communication? I also agree that no one should have that much money...nor do I understand how this much money could be obtained legally; but I believe emphatically that any American with this much wealth has an obligation to give back substantially to the American people, for instance, paying down the US debt and stabilizing programs like Social Security, Medicare, Medicaid, and Food Stamps, etc. He could lobby for Independent Boards with regular Americans (not those associated with corporations, lobbying, insider-trading, or security programs) to oversee surveillance programs, police depts., even in setting up scientist research into the clean-up of leaking radiation at US nuclear power plants, etc. I suppose I am just dreaming; but there is so much good that can be done with so much money. It is tragic that an environment that led to such wealth, the wealthy feel no obligation in "giving back to" when the economy, and, yes, the US is suffering. I congratulate their success and pray that some of it may be put toward these and many other positive practices. If so, the Koch Brothers will be rich, indeed. God bless us all; and may each and every one of you have all that you need for this day, plus some of the things you want. Above all, may you have hope, faith, and love.
jmowreader
(50,567 posts)Here's the problem: Molex makes profits because Molex makes good reliable products. The Koch brothers feel that all your profit are belong to us, and the only legal way they can make that happen is to buy every company in the world.
JustanAngel
(44 posts)For heaven's sake!
jmowreader
(50,567 posts)Indydem
(2,642 posts)It only seems large because you fail to see the larger scope.
The federal government spends that every 16 hours.
The economy moves that much money every 4 hours.
If the Koch brothers suddenly decided to donate every dollar they have to any of those causes that you think are important, their contribution would be a pittance compared to whats already being spent on them.
Its their money that they earned and paid taxes on. If they want to buy a company so other people can make money and pay taxes on it, then good for them.
Jealousy is ugly.
Roland99
(53,342 posts)It's disgust.
With historically low top marginal tax rates for corporations, there is much less incentive to invest in capital, boost worker salaries, increase benefits, etc.
The incentive is now to hold onto cash and let it sit...not filtering thru the economy.