I used to work for Reader’s Digest. At the beginning of 2007 the boss, a charming southern USA patrician called Thomas O. Ryder arranged the sale of the company to a firm of venture capitalists for $2.4 billion, the debt secured against the company. Last September the company entered chapter 11, dragged down by this debt. The pension scheme has to all extents and purposes closed down, so the 400GBP a month (small, I know, but a nice addition) I was forecast to get upon retirement is now 8GBP. I’m lucky, some of my friends who worked there are in their 50s. Mr. Ryder walked away with $58million as his proceeds from the sale in 2007.
My business advice? Buy property and avoid all other long term investments. Some cunt will steal it from you, and he’ll be doing it totally legally. Any other investment advice is bollocks.