Failure and the Creation of Opportunity

SemGroup

As a follow up to my post on the Semgroup controversy, and Jon Catsimatidis' planned takeover and rehabilitation of the company; I located this official website.

It's a good resource for following what is sure to be a very convoluted road to health for Semgroup. The point I'd like to highlight is how self-interest and public good often go hand in hand. Catsimatidis will undoubtedly make a good chunk 'o change in the deal, but not without considerable risk. But what often gets ignored is the 2,000+ jobs in Tulsa and elsewhere that are likely to be saved AND the likelihood of payment of creditors. Not to mention Catsimatidis commitment to oil independence and the American markets. Catsimatidis did a similar deal in '86 that returned 100% of the creditors money! How many bankruptcy's have you seen that even come close? When self interest and public good are aligned (and they often are) good stuff happens in the pursuit of profits. No regulation, no legislation, no bureaucrats. Just ethical self-interest, a man of character and skill, and an opportunity.

What a country!