Drudge Retort: The Other Side of the News
Thursday, December 05, 2019

Major Republican donor Paul Singer has very few fans in this town of 6,300 people, where 80 percent of voters backed Donald Trump in 2016. "I hope Paul Singer is proud of what he did," Tim O'Connell, a local lumberyard owner, told Tucker Carlson Tonight. "I don't know how he sleeps at night." O'Connell and many other residents are still suffering from the loss of sporting goods retailer Cabela's, which kept its headquarters in Sidney until it merged with Bass Pro Shops in 2017.

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The sale of Cabela's to Bass Pro Shops was announced in 2016, a year after Singer's Elliott Management disclosed an 11 percent stake, and said Cabela's should explore a possible sale. Cabala's was profitable at the time, but in mid-November 2015, Elliott Management "stated that they believed the Company should be sold through a public auction process" and that if they didn't engage in the sales process, the hedge fund "was prepared to take further steps with respect to the Company," according to securities filings.

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After the sale announcement, the stock price surged and Singer's hedge fund cashed out within a week. Elliott Management reportedly made at least $90 million.

"They got in there to get the business sold and the business was sold, so they took it and ran," Damien Park, managing partner at consulting firm Hedge Fund Solutions, told the Omaha World-Herald in October 2016. "They made a fortune, so they're happy."

The residents of Sidney, however, were left without the town's major employer

#1 | Posted by 6thPersona at 2019-12-05 02:44 PM | Reply

While I have no problem with people and companies making profits, this is F'd up.

#2 | Posted by 6thPersona at 2019-12-05 02:46 PM | Reply

6299 people now have no reason to be stuck in Sidney Nebraska.

#3 | Posted by visitor_ at 2019-12-05 04:25 PM | Reply

#2 this is now a feature of our predatory "capitalist" system.

#4 | Posted by jpw at 2019-12-05 04:49 PM | Reply | Newsworthy 1

"Major Republican donor Paul Singer"

....they forgot this line - and Major NEVER TRUMPER.

This is that old Koch style GOP-Turd that needed to be flushed a long, long time ago.

#5 | Posted by iragoldberg at 2019-12-05 10:41 PM | Reply | Funny: 2 | Newsworthy 1

Keith Meister did the same thing to Ralcorp in St. Louis a few years back. Fortunately it was only one of many employers in the area.

#6 | Posted by johnny_hotsauce at 2019-12-06 06:26 PM | Reply

"....they forgot this line - and Major NEVER TRUMPER."

Still a Republican.

"This is that old Koch style GOP-Turd"

Still a Republican.

#7 | Posted by Danforth at 2019-12-06 06:51 PM | Reply

--This is that old Koch style GOP-Turd that needed to be flushed a long, long time ago.

That's right, and there are at least a few people willing to call out these greed meisters.

Tucker Carlson's Critique Of Paul Singer Is Part Of The Reckoning Underway In America
The Fox News host's expos on "vulture capitalism" goes to the heart of a debate on the Right about the role of government.

thefederalist.com

#8 | Posted by nullifidian at 2019-12-06 07:22 PM | Reply | Newsworthy 1

"Tucker Carlson's Critique Of Paul Singer..."

...Only happened after Singer was identified as a Never Trumper, no doubt.

#9 | Posted by Danforth at 2019-12-06 07:28 PM | Reply

#8 | POSTED BY NULLIFIDIAN

You can see the cognitive dissonance in the Dems - they simply do not understand how we could possibly support Trump but not support in lockstep every politician identified as GOP. It is strange as they used to be country over party but have had to fully swap to defending complete turds like Bolton, the MIC, the Deep State, etc simply because they have to oppose Trump in every policy he advocates. It is a sick joke.

Here is the reality for you Dems - I support Trump's policies because they are good for America. I fully recognize to implement his policies we need to work via the party system. However, just because I need the vote of a turd like Romney, etc - I do not support him or anything about him other than where it aligns with Trump's policies. Lastly, the same goes for Trump. I support his policies - I do not endorse every facet of his being or 100% of his beliefs. I do not agree with his strong support for Israel (for instance) but I fully recognize that he is the sole person capable of implementing his agenda - the vast majority of which I agree.

#10 | Posted by iragoldberg at 2019-12-06 11:08 PM | Reply

It is a sick joke.

The sick joke is your inability to post without lies and or distortions.

#11 | Posted by jpw at 2019-12-07 09:05 AM | Reply

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