ADVICE TO HARRAH'S STOCKHOLDERS BEWARE OF A LEON BLACK BUY OUT OFFER

The primary concern expressed by mainstream media is that of an undervalued buyout bid, even with the increased offer offer $15.5 Billion(US). However, even if a price is agreed upon, Harrah’s stockholders should beware of any deal involving Leon D. Black, founder of Apollo Management. Apollo is one of the primary players behind the recent Harrah’s buyout offer. Mr. Black has a histoy of questionable conduct and it even appears to run in the family.

Here’s a thumbnail of Leon D. Black

1973 Dartmouth College Summa Cum Laude (philosophy and history major)

1975 Black’s Father, Eli Black, commits sucide admist corporate scandel involving United Brands (aka Chiquita Banana). The same year son Leon Black picked up his Harvard MBA.

1977 – 1990 Instrumental member of Drexel Burnham Lambert the company that sent Junk Bond King Michael Milken (and others) to federal prison;

while Leon Black walked away with billions of dollars.
1990-Present Apollo Management is Founded by Leon Black and starts aquiring companies such as MTI (sued over contract terms, basically the owners took exception with Apollo’s attorneys interpertation of the buyout contract that was $3 million less than expected.Pay attention to this deal as the parties involved are some of the most ruthless and effective in any business. After all, Black’s self professed purpose in life is to create the Robber Barons of the future…I suppose that makes him the Robber King.

I surely do miss the mob run Vegas of old. At least back then you knew who they were and what to expect.