# Kevin O'Leary cheats Winnipeg



## james4beach (Nov 15, 2012)

A classy move from a classy guy: O'Leary lies and blames weather for cancelling his flight to Winnipeg... when in fact, no flights were cancelled between YYZ-YWG. http://www.cbc.ca/news/canada/manitoba/oleary-no-show-in-winnipeg-1.4025484

Maybe those waiting for him to show up can use the spare time to read up on how O'Leary mismanaged his business, TLC, misled shareholders and how Mattel's acquisition of TLC was such a disaster that it almost sunk Mattel. Shareholders launched a class action lawsuit against Mattel and O'Leary.

http://www.theglobeandmail.com/repo...just-plays-one-on-tv/article4564334/?page=all
http://www.canadianbusiness.com/blo...-conservative-leadership-bid-business-record/

Here's the class action lawsuit against O'Leary. It was a mega lawsuit and is now studied by law students:
http://securities.stanford.edu/filings-documents/1009/MAT99/20000706_r01c_9910368.html


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## james4beach (Nov 15, 2012)

By the way, that lawsuit against Mattel and O'Leary settled for $122 Million. One of the largest settlements of its time! Lots of nice little gems in that lawsuit text that show us O'Leary's business acumen, e.g.



> After the merger, OLeary was President of the TLC division of Mattel. Just weeks before Mattel revealed the horrible results in the TLC division, OLeary sold 250,000 shares of Mattel stock worth more than $5.9 million. One month after the horrible TLC results were revealed, OLeary left - with a $5.2 million severance package.
> . . .
> Perik and OLeary sold 500,000 shares of the Mattel stock they owned for proceeds of over $11.8 million to profit from the artificial inflation in Mattels stock price their fraud had created before the truth became known and Mattels stock price crashed. Notwithstanding their access to material non-public information as a result of their positions with Mattel and TLC and their duty not to trade using such information, Perik and OLeary sold Mattel shares at artificially inflated prices during the Class Period while in possession of and using that material non-public information.
> . . .
> TLC was in fact in a state of financial chaos as a result of ongoing improper revenue recognition, GAAP violations, and the failure to design and market new products.


This is a financial forum, so hopefully people here will realize how disgusting this behaviour is. With his awful history in business, I can't believe that O'Leary dares to show his face in public.


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## new dog (Jun 21, 2016)

Isn't O'Leary supposed to be acting like a US politician? I would think this would make for perfectly reasonable behaviour and what we would expect from such a politician.


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## kcowan (Jul 1, 2010)

james4beach said:


> This is a financial forum, so hopefully people here will realize how disgusting this behaviour is. With his awful history in business, I can't believe that O'Leary dares to show his face in public.


I think you will discover that even here people are willing to cut him some slack and might even emulate him if they had the chance.

The general public does not know or care about any of it because they don't understand it.


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## Beaver101 (Nov 14, 2011)

kcowan said:


> I think you will discover that even here *people are willing to cut him some slack and might even emulate him if they had the chance.
> *
> The general public does not know or care about any of it because they don't understand it.


 ... no doubt but not selling my mother for a nickel .


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## Eder (Feb 16, 2011)

I like O'Leary...wish I was at bad at business as him, I'd have a much larger boat. Not sure if he will be our PM but kudo's to him for giving a crap about Canada.


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## tygrus (Mar 13, 2012)

Yeah James, SNAP just did the exact same thing as oleary did. Oleary just beat them to it 20 yrs earlier. Things are bought and sold on pure speculation every day. Thats not bad business. Our entire economy works on the element of perceived value. Mattell are big boys, they got it wrong, ce la vie.


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## kcowan (Jul 1, 2010)

tygrus said:


> Mattell are big boys, they got it wrong, ce la vie.


They were deceived by a master promoter. C'est la vie!

(Yup I suppose we can all justify deceit when we like the target!)


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## MrsPartridge (May 15, 2016)

tygrus said:


> Mattell are big boys, they got it wrong, ce la vie.


Mattell are big boys? But often stock is owned by average people saving for retirement.


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## jargey3000 (Jan 25, 2011)

_"Don't be wary. Vote for O'Leary!"_


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## andrewf (Mar 1, 2010)

jargey3000 said:


> _"Don't be wary. Vote for O'Leary!"_


Doesn't rhyme?


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## andrewf (Mar 1, 2010)

Eder said:


> I like O'Leary...wish I was at bad at business as him, I'd have a much larger boat. Not sure if he will be our PM but kudo's to him for giving a crap about Canada.


Do you wish you were as good at business as Bernie Madoff, too?


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## s1231 (Jan 1, 2017)

new dog said:


> Isn't O'Leary supposed to be acting like a US politician? I would think this would make for perfectly reasonable behaviour and what we would expect from such a politician.


Keep the Canadian value.
USA / current systems are failing so it's better not following their style.
Canada need to work toward on self-sufficient in food & energy ASAP.

- The US Is About To Hit $20 Trillion In Debt: Here's How It Affects You:
Mar 15, 2017 6:15 PM
http://www.zerohedge.com/news/2017-03-15/us-about-hit-20-trillion-debt-heres-how-it-affects-you


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## Just a Guy (Mar 27, 2012)

kcowan said:


> They were deceived by a master promoter. C'est la vie!
> 
> (Yup I suppose we can all justify deceit when we like the target!)


Umm, I'd be more concerned about the legal and accounting staff at Mattel who must have skipped the due diligence part of the acquisition. 

As a business owner and investor, due diligence is very important. If the company was as obviously bad as the news portrayed it, it seems like they should have caught it early on. Either that, or maybe there was more to the story than the news reported. Hindsight is always 20/20.


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## sags (May 15, 2010)

The Trump model of promising everything but delivering nothing relies on someone else to blame.........Congress, Senate etc.

When Trudeau doesn't deliver on his promises...........he has no one else to blame.

The Conservative leadership lineup looks pretty weak, including O'Leary.


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## jargey3000 (Jan 25, 2011)

andrewf said:


> Doesn't rhyme?


_"Don't be weary. Vote for O'Leary!"_


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## andrewf (Mar 1, 2010)

Better be leery, you'll be robbed by O'Leary?


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## doctrine (Sep 30, 2011)

Contrary to the sentiment in this thread, O'Leary is tops in popularity for the leadership race. Have you watched one of his town halls? He seems fairly reasonable to me. He's socially liberal and fiscally conservative. His policies actually seem like a good fit in Canadian politics. And his arguments make sense - the comparisons to Trump are not substantial, especially in practice, in my opinion. He has been engaging with people, especially young people. He's been doing town halls and taking open questions from the floor and handling them fairly well - the one he did tonight at Queen's was live streamed on Facebook. I just don't think he should be quickly dismissed as "Canada's Trump" - he could really have a great shot at the PM role in 2019, or at least force the Liberals to about face quickly if he takes off in the polls.


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## tygrus (Mar 13, 2012)

andrewf loves going low. He also loves being taxed into oblivion while the country is being run into the ground and our wealth frittered away on stupid causes. Trudeau's dream voter.


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## Eder (Feb 16, 2011)

andrewf said:


> Do you wish you were as good at business as Bernie Madoff, too?


Ain't no one here but us deplorable's... pretty rude dude.


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## james4beach (Nov 15, 2012)

O'Leary stole from public shareholders (i.e. stole from the public) and that makes him a crook.


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## andrewf (Mar 1, 2010)

tygrus said:


> andrewf loves going low. He also loves being taxed into oblivion while the country is being run into the ground and our wealth frittered away on stupid causes. Trudeau's dream voter.


Going low?

Eder said he admired O'Leary's record at TLC, which seems to be borderline fraudulent.


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## Eder (Feb 16, 2011)

Why misquote me purposely? That is low.


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## SMK (Dec 10, 2015)

Approve of him or not, it's O'Leary who's got the best chance at shaking the Liberals.


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## andrewf (Mar 1, 2010)

Eder said:


> Why misquote me purposely? That is low.


I did not quote, I paraphrased.


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## jargey3000 (Jan 25, 2011)

Eder said:


> Ain't no one here but us deplorable's... pretty rude dude.


...don't understand..? deplorable's _what_?


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## Eder (Feb 16, 2011)

andrewf said:


> I did not quote, I paraphrased.


OK...then you mis-paraphrased. You don't know what I think...don't pretend to.


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## tygrus (Mar 13, 2012)

james4beach said:


> O'Leary stole from public shareholders (i.e. stole from the public) and that makes him a crook.


Trudeau has stolen from the canadian public and gave the money to 3rd world dictators and various climate schemes. His theft is in the billions and nobody got to do due diligence on it. Who the criminal?


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## james4beach (Nov 15, 2012)

Nice attempt to divert attention. O'Leary is not fit to be a leader -- he's not trustworthy.


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## tygrus (Mar 13, 2012)

james4beach said:


> Nice attempt to divert attention. O'Leary is not fit to be a leader -- he's not trustworthy.


No less qualified that who we have now. A drama teacher and former ski instructor with a famous name educated in the elitist universities down east hundreds of miles away from where the real economy happens in this country.

I will take anyone over T2 at this point.


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## james4beach (Nov 15, 2012)

tygrus said:


> A drama teacher and former ski instructor with a famous name educated in the elitist universities down east hundreds of miles away from where the real economy happens


You're in western Canada, aren't you? And I've got news for you. Ontario & Quebec account for about 60% of Canada's GDP.

But I'm sure that in your mind, "the real economy" must involve pickup trucks.

And O'Leary is a Bay Street guy ... downtown Toronto. Why would a westerner like you want a Bay Street, Toronto elite?


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## SMK (Dec 10, 2015)

The son of official bilingualism doesn't even understand the Official Languages Act, but the guy is a fast learner, got to give him that.


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## james4beach (Nov 15, 2012)

O'Leary didn't even bother to fly out of his Toronto business center to Winnipeg for god sake ... that was why I started this thread.

And you want a Toronto-based, Bay Street elite, who doesn't even give western Canada the time of day?


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## tygrus (Mar 13, 2012)

james4beach said:


> You're in western Canada, aren't you? And I've got news for you. Ontario & Quebec account for about 60% of Canada's GDP.


Sorry James transfer payments and the tsx exchange dont count as an economy. resources are our lifeblood and they are all here. 

Que/ont wouldnt last a day without the west, and we out here would ahead leaps and bounds without those two anchors. One province taking all the transfer payment for 50 yrs, other one with 3rd world debt levels and 4 more provinces sucking EI dry.

On a GDP per capita contribution, the west destroys the easy easily.


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## Eder (Feb 16, 2011)

james4beach said:


> You're in western Canada, aren't you? And I've got news for you. Ontario & Quebec account for about 60% of Canada's GDP.
> 
> But I'm sure that in your mind, "the real economy" must involve pickup trucks.


Wow...this attitude is why we enjoyed Harper longer than any other Prime Minister...you should not bite the hands that feed you.


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## tygrus (Mar 13, 2012)

Eder said:


> Wow...this attitude is why we enjoyed Harper longer than any other Prime Minister...you should not bite the hands that feed you.


Isnt it funny how our transfer payments work. West sent billion to the east for decades and now when Alberta is down and out you sure dont see any money going the other way. In fact we get trudeau talking about shutting down our resources. Imagine if he stood in montreal and announced bombardier was on their own or that hydro had to be phased out.


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## andrewf (Mar 1, 2010)

Eder said:


> OK...then you mis-paraphrased. You don't know what I think...don't pretend to.


So you denounce KO'L's business record? Go ahead and clarify. He seems like a scumbag and you should watch your wallet around him.


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## andrewf (Mar 1, 2010)

tygrus said:


> Sorry James transfer payments and the tsx exchange dont count as an economy. resources are our lifeblood and they are all here.
> 
> Que/ont wouldnt last a day without the west, and we out here would ahead leaps and bounds without those two anchors. One province taking all the transfer payment for 50 yrs, other one with 3rd world debt levels and 4 more provinces sucking EI dry.
> 
> On a GDP per capita contribution, the west destroys the easy easily.


Wow, you are delusional. 

Resource extraction is only 8% of Canada's GDP. And a decent amount of that happens in Ontario and Quebec.

https://en.wikipedia.org/wiki/Economy_of_Canada#Key_industries


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## andrewf (Mar 1, 2010)

Eder said:


> Wow...this attitude is why we enjoyed Harper longer than any other Prime Minister...you should not bite the hands that feed you.


Any other PM but the actual top 5:

https://en.wikipedia.org/wiki/List_of_Prime_Ministers_of_Canada_by_time_in_office

1 King
2 Macdonald
3 PET
4 Laurier
5 Chretien

It's really not hard to verify these basic facts.


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## sags (May 15, 2010)

Actually, on a per capita basis...........Ontario and Quebec are way down the list.

https://www.fin.gc.ca/fedprov/mtp-eng.asp


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