Anger in Rogue River Valley as Bankrupt Harry & David Crushed Under Buyout Debt

The failure of the 77-year-old company is raising anger locally at Wall Street, which is seen as recklessly borrowing to do the buyout without regard for the local economy, workers or the business.

“Buying a successful company like Harry & David, and crushing it under millions in bonding debt required to pay for the purchase may be known as brilliant financial maneuvering on Wall Street,” said state representative Dennis Richardson, whose district includes the Rogue Valley. Mr. Richardson added: “Oregon citizens have a different name for it.”

via the Wall St. Journal:
http://online.wsj.com/article/SB10001424052748703739204576229113684414704.html

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