Other peoples money movie. Other People's Money (1991) 2022-11-07
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Other People's Money movie review (1991)
Retrieved 7 December 2022. . In the end, the proxy voting is won by Larry, giving him the controlling interest in the company and leaving Jorgy feeling betrayed. All they can do is change the rules. During the AGM, Jorgy appeals and tries to sway the shareholders with his heartfelt speech where he claims of caring more for the employees and their loyalties to his company rather than money. A new concept introduced in the movie deals with the use of greenmail, which is a defense mechanism adopted by companies to prevent takeover attempts. Larry wants to raid the company, break it up, strip the assets, and sell the profitable divisions.
Also, the movie shows the importance of value investing by using the fundamentals of a company to determine whether the company is under or overvalued compared to the market price. They can never stop the game. But the arguments presented in this movie will make you think twice about the actions of corporate takeover and the rationale behind them. Becoming aware of the filing, Jorgy reaches out to her daughter named Katy Sullivan, a corporate lawyer, to protect the interest of his company from such a hostile takeover attempt. We see that it is empty of everything except a great deal of money. The story replicates the existence of a corporate takeover and presents arguments both in favour of and against such moves. But, Larry becomes successful in convincing the shareholders about the benefits of a takeover and how he can provide them with a very good price for their shares.
He falls flat on his face onto the bedspread, stunned with grief and loss, and his butler tries to cheer him. Retrieved February 28, 2018. The shareholders seem swayed by Jorgy's speech and boo Garfield when he gets up to give a rebuttal. Under this mechanism, the target company repurchases the shares at a higher price, to retain the control. Retrieved 24 November 2014. No material pleasure can possibly cure his agony.
Just then, Kate calls. Relying on the support of longtime friends and investors, Jorgy makes an impassioned plea to save the company, appealing to the traditions of manufacturing as opposed to the new breed of capitalism which Larry the Liquidator represents, in which buyers of companies create no products or jobs and are interested only in money. Maybe the best single moment in the movie comes when he is sure he will never, ever, get to first base with Kate. The movie concludes with Kate bringing up a business contract to Larry for manufacturing airbags, offered to New England Wire and Cable company by a Japanese company. He ridicules the concepts of maximizing shareholder wealth and says that a company is far more than its stock price.
To provide for an out of the court settlement, Kate proposes a greenmail offer to Larry which will be a win-win for both the parties, but it eventually gets declined. Unable to reach a settlement, Larry and Jorgy decide to leave the judgment upon the shareholders by calling for an Annual general meeting and having a proxy fight. Retrieved 24 November 2014. Retrieved 26 September 2021. The company is a second-generation firm run by Mr. Relevance to the SimTrade course The topics introduced in this movie correlates with the courses taught on SimTrade platform.
Retrieved 24 November 2014. Back at home in Manhattan, Garfield finds himself uncharacteristically despondent after his victory, having realized he has lost his chance for a romance with Kate. There have been stories of many selfish people existing in the financial system, stealing jobs and leaving lives tarnished using hostile takeovers. Kate, taking immediate action, brings in an injunction to stop Larry from any further purchase of shares, based on a technicality, till the matter gets settled. He uses a computerized stock analysis program named Carmen to select targets for his next takeover.
Larry complains about such moves hampering the spirit of a free society and capitalism by preventing speculators like him to purchase shares. Kate's mother Bea Garfield concedes to Jorgy's offer to let the matter be settled at the annual shareholder's meeting. The margin of victory is greater than Coles' shares and thus he does not receive the full amount he betrayed Jorgy to get. He is also immensely likable, except when he is trying to strip-mine the family firm. She proposes to buy back the company from Larry at a mutually negotiated price. The hard work put in by Jorgy has made his company perform reasonably well with no debts and ample cash reserves. Andrew Jorgenson called Jorgy and has three major divisions with wire and cable division under losses for many years.
The SimTrade course teaches us the concept of market information and the movie exhibits how such information is put to use to make decisions about buying or selling of stock. With the stocks of New England Wire and Cables rising, the algorithm presents this company as a new target for Larry. They need each other and they know it, and they spar with this unspoken knowledge in a series of wonderful scenes, including a lunch in a Japanese restaurant and a telephone conversation during which he serenades her on his violin. The movie also portrays how demand and supply play a primary role in bringing momentum in a market. . .
