by MarvelosityReigns November 7, 2009
Get the Take a jizz for my wizz mug.Verb. Liquidating one's assets (esp. community property) for pure personal gain and leaving; abandoning societal/familial social, moral and ethical expectations; forsaking one's responsibilities. Taking the easy way out.
Dick Smith was married and had 5 children. He had a big house with expensive cars and all the trappings of a wealthy family. One day Dick lost his job and after leaving work, liquidated all of his bank accounts and assets and left town, leaving his family high and dry.
Applications-
1. Someone gets fired from work- "he took a Dick Smith"
2. You are at a party and want to leave- "Hey I am going to take a Dick Smith"
3. Someone quits a job- "I took a Dick Smith"
4. Sean White lost in the Olympics- "Sean White took a Dick Smith in that event"
5. A store or restaurant closes- "They took a Dick Smith"
Applications-
1. Someone gets fired from work- "he took a Dick Smith"
2. You are at a party and want to leave- "Hey I am going to take a Dick Smith"
3. Someone quits a job- "I took a Dick Smith"
4. Sean White lost in the Olympics- "Sean White took a Dick Smith in that event"
5. A store or restaurant closes- "They took a Dick Smith"
by T.M. Zappa February 26, 2014
Get the Take a Dick Smith mug.Related Words
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by hipster April 2, 2004
Get the double take mug.Stands for "Take the loss". Frequently used to describe flunking a test, being dumped, being stood up, being beaten up or robbed, or losing one's money in the stock market, gambling, or through exploitative business schemes.
by cazort August 25, 2003
Get the Take the L mug.(BUSINESS) when a corporate raider attempts to take control of a corporation against the will of the management. Takeover requires a leveraged buyout typically financed with junk bonds.
HOW IT WORKS
The corporate raider requires a takeover vehicle to launch a hostile takeover. The takeover vehicle is usually another corporation controlled by the raider, although in recent years ESOPs have been used (e.g., Tribune Corp., 2007). The vehicle buys up a lot of shares of the target company's stock on the market, then announces it wants to acquire a controlling interest.
Management opposes the takeover bid. It can (a) challenge the legality of the takeover, (b) adopt a charter that makes it hard for the takeover vehicle to run the company it's proposing to buy (a poison pill), (c) seek another buyer that is more favorable (a white knight), or (d) borrow a ton of money and buy so many shares that the stock price goes up.
The raider makes a tender offer for the shares he doesn't own. At a certain point, he may acquire sufficient control that he can legally challenge the target's management to step down.
WHAT CAN GO WRONG
The management can use (a) or (b) successfully, or it can use (e), viz., launch a hostile takeover bid of the target vehicle. The raider can lose of lot of money if a lot of shareholders have accepted his tender offer.
HOW IT WORKS
The corporate raider requires a takeover vehicle to launch a hostile takeover. The takeover vehicle is usually another corporation controlled by the raider, although in recent years ESOPs have been used (e.g., Tribune Corp., 2007). The vehicle buys up a lot of shares of the target company's stock on the market, then announces it wants to acquire a controlling interest.
Management opposes the takeover bid. It can (a) challenge the legality of the takeover, (b) adopt a charter that makes it hard for the takeover vehicle to run the company it's proposing to buy (a poison pill), (c) seek another buyer that is more favorable (a white knight), or (d) borrow a ton of money and buy so many shares that the stock price goes up.
The raider makes a tender offer for the shares he doesn't own. At a certain point, he may acquire sufficient control that he can legally challenge the target's management to step down.
WHAT CAN GO WRONG
The management can use (a) or (b) successfully, or it can use (e), viz., launch a hostile takeover bid of the target vehicle. The raider can lose of lot of money if a lot of shareholders have accepted his tender offer.
Prior to 1980, the hostile takeover was unknown; banks would never lend money for such a scheme. For one thing, the risks were ridiculous. For another, "success" would hurt way too many people.
Everything changed when Michael Milken revolutionized the junk bond market, allowing raiders to attempt deals that violated sound business judgment. The defeated company was compelled to pay for its own conquest.
Everything changed when Michael Milken revolutionized the junk bond market, allowing raiders to attempt deals that violated sound business judgment. The defeated company was compelled to pay for its own conquest.
by Sorry, the good guys lost September 4, 2010
Get the hostile takeover mug.by sloner July 28, 2007
Get the take a hike mug.Something some of y’all never heard of because you smell like ass everyday thinking that bealls outlet 7 dollar perfume gonna help.
by Realiststatements June 30, 2019
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