Samantha Bonderman ?

I have done this site especially for Samantha Bonderman
in order to visit thishousewillexist.org

Sorry for my poor english translation.


David Bonderman in 1992 was one of the founders of the financial investor Texas Pacific Group (TPG). The 66-year-old lawyer, it has been associated with numerous investments, including at Ryanair, a billionaire. In the GM management council meeting on November 3, he should have vigorously campaigned for a stay of Opel in the U.S. car giant

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David Bonderman: financial investor with environmental conscience
Still, it's David Bonderman secret of how the Texas utility TXU by the 32 billion $ heavy takeover by private equity firms Kohlberg Kravis Roberts (KKR) and Texas Pacific Group (TPG) is to be climate-friendly - without the planned new coal power plants

But Bonderman, founder and principal of Texas Pacific is, indeed a passion for environmental protection are: cheer American activists already, the two private equity firms would have their support for country-wide emissions limits agreed to in greenhouse gases, should they succeed in this huge deal.
Bonderman is in Germany as "Upper Locust" decried, since in 2005 animated the rude actions of TPG in the Sauerland fittings manufacturer Grohe then SPD Vice Chancellor Franz Muentefering to his criticism of financial investors. Equity funds like TPG would graze companies like locusts, and then move on, Muentefering said at the time.
Private not quite as environmentally friendly

But in the United States enjoys a reputation as a Bonderman Investors accustomed to success and also an environmentalist, many years, Bonderman has engaged in the bodies of conservation organizations like the World Wildlife Fund (WWF), the Wilderness Society and the Grand Canyon Trust. In the U.S. state of Arizona, he railed against power plant operators, who were responsible for smoke over the Grand Canyon. For the Wildlife Society, he flew to Europe, herunterzuhandeln to their office rents by $ 1 million. That he should have secured for the purchase of TXU by environmental groups now support seems plausible.
In private life is very rich Texan not quite so circumspect: he inhabits a 300-acre estate in a nature reserve in Aspen in the Rocky Mountains. For his business trips around the world Bonderman usually rises in his Gulfstream private jet. Studied the lawyer, the Islamic law in Cairo and speaks Arabic, traveled with friends to enjoy happy times with the SUV along the Silk Route in Central Asia or in the mountains of Papua New Guinea.
His reputation as an investor Bonderman founded in 1993 with the takeover of the U.S. airline Continental, where he used his nearly ten-fold. He also participated at U.S. Airways, and later the Irish low-cost operator Ryanair. Late last year, TPG got one at the Australian airline Qantas. Definitely a living legend private equity veteran Bonderman was not for his roles as a corporate restructuring specialist, or environmentalists, but as a party host: To celebrate its 60th Birthday with 300 guests in 2002 in Las Vegas he was Robbie Williams and the Rolling Stones play - the festival is said to have cost approximately $ 10 million.

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Investor David Bonderman is for environmental protection - private, he does exactly the opposite

David Bonderman, chairman of he founded Texas Pacific Group (TPG), plans to acquire, together with Kohlberg Kravis Roberts (KKR) for 32 billion U.S. dollars the utility company TXU (Texas). TXU will be environmentally friendly.

The TPG is a private chef but rather a polluter. He lives on a huge plot of land in a conservation area. For air travel it is a private plane available and it goes with the jeep for fun through the area.

Bonderman is out in Germany two years ago through the intervention of the tough fittings manufacturer Grohe (NRW / Sauerland) in the negative headlines. At that time, said Franz Muentefering (SPD / Vice Chancellor) of "locusts".

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LONDON. In his luggage for his morning appearance: the takeover of the U.S. energy group TXU for $ 45 billion, together with Kohlberg Kravis Roberts & Co (KKR) and partners, the largest private equity deal ever.

A deal maker through and through Bonderman, the conference program quite rightly announced a "guru". The 64-year-old with close-set eyes and tousled hair often has shaken up the industry since it opened in 1992 with three colleagues TPG's first office at the San Francisco Bay, and soon after bought the airline Continental and rehabilitated. With charm and lightning-quick mind, he rushes around the world by private jet today to find new investments for a fund capital of approximately $ 30 billion. TPG controlled with little more than 50 people company with a turnover of approximately $ 70 billion and 300 000 employees. Bought much of it as no one wanted to touch.

Bonderman is one who can juggle six or seven balls and still has desire to try it with an eighth, ninth and tenth, says a former partner. The annual return of TPG is reportedly about 50 percent.

But a one-dimensional man Bonderman is not money. He has held board positions in organizations like the World Wildlife Fund and loves adventures. After studying in Cairo, the expert was working for Islamic law as an attorney and asset managers.

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A single dinner at a fancy restaurant in Detroit was enough to sweep the result of the six-month long negotiations off the table. With delicious food and expensive wine sat a certain David Bonderman his colleagues on the Board of General Motors, a flea in his ear: the Plan of GM managers, getting rid of the European subsidiary Opel, is wrong and Opel because of his experience in the construction of small and midsize cars very valuable to the company. In addition, buyers would offer the Magna and the Russian Sberbank too little money. That was on the evening of 2 November.

The next day, duped the decision of the GM Board, to keep Opel, not just the Chancellor. Even Fritz Henderson, GM's chief executive had gone out yet on the morning of the session from a sale, people acknowledge the corporate environment. Veteran Henderson is in fact only an interim chief, even if he in his promotion in the summer so asked not to be officially called that. He is said to have included in his lecture on the sale of Opel's voice - self-awareness is different. "The top job is" shaky, says Joseph Philippi, in the well-connected chief of Detroit Auto Trends Consulting.

Perhaps the demands of the new inspectors have intimidated the GM CEO. First and foremost: David Bonderman. The man has a talent for it to forfeit with German politicians. Franz Muentefering, invented four years ago, especially a new job title for people like him, grasshopper. Bonderman is behind the private-equity firm TPG, which was then trimmed the Sauerland fittings manufacturer Grohe with crude methods to profit. There were beatings of the policy. Bonderman angry today about the abuse from Germany, will be heard.

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In the U.S., however, Bonderman is a star with a knack for rescuing ailing companies. So he took the U.S. Airways and Continental airlines under its wing. Contributed to the legend but also his party on the 60th Birthday with: The Rolling Stones appeared on a huge salary. Now rocking Bonderman General Motors, thanks to Barack Obama. "The Germans have every reason" to complain personally to the president, says Daniel Ikenson from the Cato Institute critical of the government. "The myth of non-interference by the White House at GM is not true by repetition."

The story begins by Bonderman Appointed GM supervisor a year ago. It was the first day after the historic election of Obama as president. Obama reads this morning not only articles about his triumph. The newspapers also report great about a horror scenario of the Center for Automotive Research in Michigan. Up to three million jobs could be lost if the three car manufacturers Chrysler, General Motors and Ford actually went down.

The workers on the assembly line will end up on the street, while the taxpayer is pumping billions into Wall Street, asking the media. This will not allow the politicians. Even President George W. Bush has mega amounts to Detroit, as his successor. Finally, the bombshell: President Obama sends GM on 1 June in the flash insolvency. The state has invested some 50 billion dollars in the carmaker. In the end, he owns just over 60 percent of New GM.

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But Obama wants to not only write checks, but GM into shape. Have been falling for years, the market share and increase the losses of the traditional auto manufacturer. Against the competition from Japan and Germany sees the model range of Americans from outdated: the cars are too big, too thirsty. The President sets up a task force car. Their chief is Steven Rattner, an investment banker on Wall Street, which collected donations during the election campaign hard for Obama. He is regarded as a brilliant analyst. With the auto industry, he had never done until then.

Rattner and his people go in and out of the Oval Office. The White House released photos showing Obama and Rattner are seen in polo shirts, while they are working together on the future of the auto industry. "Obama told us we should go about the business thing," Rattner told the U.S. business magazine Fortune. At press conferences, the President announced that the White House would not interfere in the daily business in Detroit. GM has bigger shops but the Treasury Department, where the auto task force is located officially submit, for approval. Daily e-mails arrive from Detroit to Rattner computer with a request to be okay.

The auto task force fires not only the old GM CEO Rick Wagoner. The Board is identified as a culprit of the crisis of the once largest car manufacturer in the world. For years the supervisors have only nod, which was presented to them. At times, even in parallel Wagoner was chief overseer, he controlled himself, therefore, "It's a climate there was the non-questioning. Everything that came from the Board, was waved through. Nothing happened. It was "frustrating, recalls industry veteran Jerome B. York, a confidant of the major investor Kirk Kerkorian, who left in 2006 after only eight months, the GM membership control panel in protest. "The auto task force has recognized, however exactly where it 'hooks, says York.

The panel exchanged logical as the new owner of most inspectors. The main task of the troops: They should uphold the interests of American taxpayers. Finally, the huge sums pumped into the ailing company has. "The Opel decision was solely from the perspective of GM. The German perspective taking is not the job of the inspectors, "says the economics professor Peter Morici of the University of Maryland.

While GM's management negotiated with the Germans in the summer about the future of Opel and everything points to a sale, to make the new warden of a picture of the situation. The panel now also belongs to Daniel F. Akerson of the private-equity firm Carlyle Group, in Germany, the Bayer subsidiary HC Starck bought. Akerson was in the crucial meeting a spokesman - as well as Stephen Girsky, a former Morgan Stanley banker who was nominated by the United Auto Workers union.

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In a first meeting in August, the Opel decision has been postponed. At this time the pressure is particularly high in Germany: The Bundestag elections are coming up. In September dive on rumors, wants to keep GM Opel, but then gives his approval of the Board for the sale to Magna. The Magna-German supporters of Opel's works council, Klaus Franz, Chancellor Merkel to be celebrated as the winner.

But the position of GM is improving. Even in spring the group stood outside the off, but at the behest of lightning broke up, the game utilizes all the rooms of the American bankruptcy law is proving to be a boon. It is the largest industrial bankruptcy in U.S. history. GM takes only 40 days for the comeback. Thanks a bailout all lines end up with future opportunities for New GM, the rest will be handled together with the high pension obligations. In this way, GM lowers its debt burden by 40 billion dollars and includes 13 works. In the accounts is suddenly back money - thanks to an idea from Germany: the accelerated scrapping the sale of the shop keepers. GM has the upper hand again.

GM-ever senior people against the sale of Opel had been, about the vice chairman Bob Lutz, the 77-year-old industry legend. Meanwhile, the EU Commission intervened in Berlin and Detroit, and requires proof that the sale to Magna was done without political conditions. The former economy minister, Karl-Theodor zu Guttenberg, writes a letter to GM to ask for confirmation of that.

Who said you said there. As the new inspectors then on 3 November in the Detroit GM Headquarters gather, the mood finally proposes to: Opel can do everything that GM can not, however, needs to learn - to build small cars, economical cars to build. In addition, Opel demonstrates just how to set up a poorly performing company again with new technology. Such a bead is not sold, and certainly not to the Russians.

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The German fittings manufacturer Grohe has become the plaything of international financial investors. Within a few years, the once successful company ran into financial difficulties. A story about looters, consultants - and one driven by fear of German SMEs.

How many letters Michael wrote Oecknigk to halt the decline of his city, he can not remember exactly. They have never used.

The railway chief Hartmut Mehdorn told the mayor of the city in Brandenburg Herzberg two additional tracks for freight. Some time later, the station was completely closed down. A flamboyant investor, he recalled several times promised to the cinema. But the one built Aldi supermarket.

Also to David Bonderman has Oecknigk written a sorrowful letter, last May, in English. It was about standing on the brink Grohe factory site, a "major" industrial employer in the city - in fact the only one who has remained Herzberg. Bonderman is chief of the U.S. financial investor Texas Pacific Group (TPG), who had taken over the faucet manufacturer headquartered in Hemer, Sauerland half years ago. TPG brought in 1.5 billion euros for it - along with the investment professionals at Credit Suisse First Boston (CSFB).

Oecknigks letter again showed no effect. Bonderman had a conversation not ready. The 105-year-old plant in Herzberg valves will be closed in three weeks.

Last Thursday at City Hall hosted Oecknigk therefore the "Action Programme for Herzberg perspectives". What sounded like start and new opportunities, looked like a funeral. "Every day I'm full of scrap container," says one of the last 305 Grohe former employees who had come before the Town Hall. At a second chance here believes in the no man's land between Berlin and Leipzig, no.

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20 percent less pay, waiver of Christmas and holiday pay, seven days a week - the staff would have accepted grotesque conditions, if only it were gone. "We had a record margin of 20 percent, but apparently was not enough," said Peter Schulze council, which is in the works for 26 years and has during the GDR era still bolted together plastic fittings.

The consultants from McKinsey Schulze expected before the spring, that could produce the Herzberg shower systems at Chinese prices. Herzberg did not fit into the strategy, he got the answer.

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Hardly a German company, has shaken up the takeover by financial investors such as Grohe, one of the world market leader in sanitary fittings. 1200 of the 4300 German jobs are deleted until 2006. Grohe always makes you fit for the global market to justify the one. Thus, a healthy operating fleeced and choked by ever more debt, say many others.

The demise of Grohe began in 1998. Until then, it looked good: From 1991 to 1998, sales rose from 430 million to 719 million euros. A good 80 percent of production were still in Germany and ensured good profits, according to the laws of globalization a miracle.

In 1999 the family sold the company Grohe for around 900 million euros to the investment group BC Partners. "Investor" has outwardly heard better than it has felt for Grohe: Instead of doing private capital ("private equity") in the company, pressed the new owners Grohe systematically and loaded on Debt: were the beginning of 2004, those on € 760 million has grown. BC did not have a lot of their own money for the purchase of this party, much of it borrowed from banks - and paid the installments from the

Cash back from Grohe. Bootstrapping, so get out from its own funds the purchase price back, is called the suction technique in the private equity scene.

In the summer of 2004 the British handed investors the company including debts on to their colleagues at TPG and CSFB. Including the withdrawal of around 350 million euros, they have doubled their use so loosely.

The private equity firms TPG and reside in Luxembourg with mailbox address in George Town in the British Cayman Islands. This is a "normal" market structure, says the new Grohe CEO David Haines. A tax evasion model for American investors. Also in Hemer, it leaves its mark: almost six million euros business tax, which had already paid in advance of the old investor, TPG, called back from the city.

The new owners pumped so full of the valve manufacturer with debt that it technically was an easy tax to be expected in the Meanies. Through the recovery of the city stands "on the verge of bankruptcy," says the mayor. Franz Muentefering, who is a few miles further born and raised buzzing, probably also around Hemer in the head, the light its streets at night no longer can, that occurred to him as with the locusts.

In the eyes of financial investors is a profit after tax, a management error. You do not expect dividends, but speculate on the eventual sale. The operating profit is thus charged with the debt service that a loss comes out and the state goes empty-handed.

While BC Partners, the firm only to end up with around 60 million euro repayment correctly moan, had urged the new owners of 80 million per year. Also, they had borrowed most of the purchase price, and now had to begin to drive down costs.

To persuade the employees from the beginning of the year invited Haines Gustl Stockmayer, IG Metall representative and Grohe's supervisory board, to take a trip to China. Mayer's official floor of life - the retirement was already within reach - it should be stirred up once correctly. He should see how fast the Chinese manufacture taps, how fast they screw together thousands of shower heads. He should feel that there a new world power of bathroom fittings is growing up, which damn close to the German company is on your shoulders. Stockmayer should get a shock.

After China, it was clear that it "could not continue," said Haines, the deep cuts planned at Grohe. The knife he gave the consultants from McKinsey. Their report, which they presented in the spring, begins with the realization that the financial data of the operation require "vigorous countermeasures." The window of time to act is "Experience has shown that very small".

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Grohe, just in secret among milkers companies seemed to be at once a dying business. The McKinsey consultants recommended an emergency operation: the brass production immediately after Lahr of Poland, the shower production to Thailand. For recovery should the employee do their part - they went by: 3000 of 4300 German jobs should be deleted, three plants to be closed. "Fit for the Future" was the anorexic program.

The company, the consultants suffer a "mismatch": Only 20 percent of products are sold in Germany, produces 80 percent but here. What the disciples did not write efficiency: Over 76 percent of sales come from Grohe still in Europe, the group management report in late 2003. The vaunted factory in Thailand, with the Asian market should be rolled languished, to himself.

Nevertheless, should the nightmare scenario of the nimble Asian competitors in no-McKinsey report lacks. They want to re-educate the end. The appropriate treatment usually begins with a so-called shake-up, which will become the manager of the psyche by each other - like the visit to China. "In Xiamen, we saw a huge factory with multiple production facilities sanitary," said David Haines. "One, they have called 'the old', who was only six years old. They're incredibly well."

Usually suggests the McKinsey therapy quickly. "I only have time to digest, the production looks better than ours," a distraught Grohe purchasers cited in the report. Stockmayer, but came from the factories of the future as barracks. "As a philosopher's stone that's too cheap."

If David Haines would speak in pictures, he saw himself not as a grasshopper at Grohe, but as a fertilizer. The 45-year-old marketing specialist, was previously with Vodafone and ten years at the candy bar-Multi Mars. He does not fit into the role of sweeper, the filleted every two years, any other company. Haines has a five-year contract and wants Grohe "secure an independent German company" as. He lies to the plan "Fit for the Future" one year ahead in the first year and have already paid off twice as much debt as scheduled.

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In the game Grohe Haines is the best. The consultants at McKinsey took the rest to Their report had been there to "show the potential and all the things you could do with the company," said Stephen Peel, TPG's governor said in London.

TPG would be considered as a company, the company would be one of the largest dealer groups in the world, with over 500 000 employees and 57 billion

Euro turnover. TPG chief Bonderman bought for an estimated eight million U.S. dollars to the actor Robin Williams and the Rolling Stones on his 60th Birthday. In Germany, it employs ex-Finance Minister Theo Waigel, which is helpful in the search for sales.

Stephen Peel was able to make good use of McKinsey. With the external auditors, he had a lightning rod for the wrath of the people. Everything below 3,000 layoffs also made him the savior.

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It was long before the advent of McKinsey, a redevelopment concept. It was from BC Partners and was called "Action Plan Germany". € 125 million per year could be saved with a special "Revitalizing", "Product Pruning 1 +2" and hundreds of layoffs, it said. But that Peel was not enough.

Then came McKinsey. Their concept was a clear 'can-do culture "in front, called for" rigorous pruning "and promised € 150 million savings. Finally, they agreed on a compromise: Instead of closing three plants, only the work of Herzberg will shut down. 943 employees have to go. The very large clear-cutting did not occur. For the time being.

Haines and Bonderman allowed to audition so calm even in the Chancellor's Office and. The economic policy adviser to the former chancellor, Thomas Mirow, said Haines, "Plan for the three peaks is not available" to have been. "There was a sigh of relief," he recalls.

McKinsey was already at Grohe, the mid-sixties, remembers Friedrich Grohe, 75, eldest son of the founder. His younger brother Bernd had then count all the boxes that were packed by hand. In about 900 pieces he stopped. McKinsey recommended the purchase of an assembly line.

Friedrich Grohe board sits in a vegetarian in the Black Forest. He tells of his father, whose name he bears and whose successor he should compete. It's a father-son story, which consists of quarrels and wars and grave behind which draw together the whole history of the company seems. There is also a story about how his company a medium-sized slips.

It begins with a flight. Grohe senior, who had taken over in 1936 in Hemer an ailing hardware and armaments factory orders brought back to life, got scared of the Russians. Not at war, but afterwards. The fear he rose to head so that he emigrated in 1951 with his family to South Africa where he established a second plant. Only among blacks but it seemed more threatening than the target of the Russians in 1954 he came back again.

The company, which gave the Germans the first plastic handles and hand mixer was, it is always better - not only the sons came up beside her father. The two younger sons Bernd and Charles, who live like her brother Frederick in Switzerland, report of her father as a Wretched. Soon the fear crept back in senior high - the overthrow of the students in Berlin seemed briefly to be imminent. Friedrich Grohe was his work in the hands of the U.S. company ITT. "What shall we do with your sons?", The Americans had asked the founder. "Throw out the" Grohe replied.

ITT lost in 1984 as the fun Grohe, the sons bought back the company. But in 1998, when Charles had Grohe Oskar Lafontaine speak, hear reported to him, the old fear of his father. Even his little hobby, a submarine-hunter from the Second World War-suited for use with crew wanted to be fed.

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Had actually shown us he was looking for an industrial investor, the company secured its independence, as the other branch of the family with the faucets in the Baden-operation Hansgrohe Schiltach.

But when Charles Grohe knocked on just financial investors. That was with the debt financing "was not so aware," he then said Charles Grohe, as if he's selling only now beginning to see through. "Is it with so little capital, like that still in the company, any further economies?"

What happen at the moment Grohe, resembled a "termite invasion." "The hollow it out, without having seen it, and then everything collapses." Grohe is now embarrassed when he sees his name on water faucets.

Last Friday, Mayor Michael Herzberg's Oecknigk has become active again. On his way: At a meeting of local union politics of the CDU, he rummaged through to the Chancellor, and gave her a letter. In it, he asked Angela Merkel about keeping in the future "and selling" a bit of German businesses in mind.

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