Tuesday, October 9, 2012

Matt Doheny worked on Wall Street, buying vulnerable companies, firing their workers and cutting benefits to maximize profits.

Doheny worked as managing director for troubled assets at Deutsche Bank Securities.
[dohenyforcongress.com, accessed 4/23/10]

“Mr. Doheny, Watertown, said he led Deutsche Bank's investments in — and restructuring of — more than 100 troubled North American companies during an eight-year career. He left the New York City bank in 2008 to take a similar role at Fintech Advisory, a private partnership of fewer than 12 people.”
[Watertown Daily Times, 7/02/10]

Doheny worked as “managing director for distressed assets at Deutsche Bank from 2000 to 2008, where he helped purchase debt from failing companies like Air Canada, Pacific Gas & Electric and Adelphia.”
[Sacandaga Express, accessed 8/03/12]

Matt Doheny's restructuring of Adelphia on behalf of Deutsche Bank included firing approximately 500 employees, while executives received millions of dollars in bonuses and severance.
[Watertown Daily Times, 7/2/10, Bloomberg News, 9/16/04, Rocky Mountain News, 8/24/06]

“Distressed debt investors buy the bonds and loans of stricken companies at a big discount to their par value. They have a claim on the assets of the borrower and substantial profits can be made through gaining a higher settlement in the liquidation process or by accepting an equity stake in the restructured business.”
[Financial Times, 2/26/12]


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