HOW A NEBRASKA BOY BUILT AN ISLAND EMPIRE WITH OTHER PEOPLE'S MONEY-JEFFREY PROSSER

Essay specific features

 

Issue:

Business

 

Written by:

Micheal T

 

Date added:

October 20, 2013

 

Level:

University

 

Grade:

B

 

No of pages / words:

4 / 909

 

Was viewed:

9243 times

 

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Essay content:

Thomas. The purchase didn’t go through, but he stayed. When ITT offered its Virgin Islands telephone business, Vitelco, for sale, he made an $87 million bid. Vitelco ignored the offer then, but six months later, it reconsidered. Prosser obtained 105% debt financing from E.F. Hutton & Co. Vitelco had no competition in the Virgin Islands and the Virgin Islands Public Service Commission guaranteed him an 11...
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Hutton & Co. Vitelco had no competition in the Virgin Islands and the Virgin Islands Public Service Commission guaranteed him an 11.5% return on his investment. Mr. Prosser refinanced in just one year, replacing the Wall Street loan with a $104 million loan from the Rural Telecommunications Finance Cooperative at a below-market rate...
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