St. Louis Post Dispatch: Shady move by Noranda investor
I am totally confused. An article in the Business section May 14 had the headline “Largest Noranda investor is pulling out of the company.” That’s the company that was recently given a reduction in its electric costs so it would not move its facility out of Missouri. The article states that will cost you and me and every other customer of Ameren about a dollar a month.
The article also says Apollo Global Management, the ones who are selling their interest in the aluminum company, “loaded up Noranda with more than $1 billion in debt” and “paid more than $350 million in special dividends that largely benefited Apollo shareholders.” Does this mean they have stolen as much as they care to and are now getting out before the aluminum company folds up?
If that is the case, why is it legal? Why is no one going to jail? Am I the only one confused?
