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Author: Josh Kosman
Publisher: Penguin
ISBN: 1101152389
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
An authoritative exposé of the mysterious and potentially dangerous world of private equity Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation’s largest employers through the businesses they own. Using leveraged buyouts that load their acquired companies with loans, private equity firms have generated more than $1 trillion in new debt—which will come due just when these businesses are least likely to be able to pay it off. Journalist Josh Kosman explores private equity’s explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs. He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.
Author: Josh Kosman
Publisher: Penguin
ISBN: 1101152389
Category : Business & Economics
Languages : en
Pages : 275
Get Book Here
Book Description
An authoritative exposé of the mysterious and potentially dangerous world of private equity Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation’s largest employers through the businesses they own. Using leveraged buyouts that load their acquired companies with loans, private equity firms have generated more than $1 trillion in new debt—which will come due just when these businesses are least likely to be able to pay it off. Journalist Josh Kosman explores private equity’s explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs. He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.
Author: Josh Kosman
Publisher: National Geographic Books
ISBN: 1591843693
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
An authoritative exposé of the mysterious and potentially dangerous world of private equity. Marquee private equity firms such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts have grown bigger and more powerful than ever. They have also become the nation's largest employers through the businesses they own. Journalist Josh Kosman explores private equity's explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs. He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.
Author: George Anders
Publisher: Beard Books
ISBN: 9781587981258
Category : Business & Economics
Languages : en
Pages : 370
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Book Description
Originally published: New York, NY: BasicBooks, c1992.
Author: Jeffrey L. Cruikshank
Publisher: Harvard Business Press
ISBN: 1422161773
Category : Biography & Autobiography
Languages : en
Pages : 445
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Book Description
We live in an age of persuasion. Leaders and institutions of every kind--public and private, large and small--must compete in the marketplace of images and messages. This has been true since the advent of mass media, from broad circulation magazines and radio through the age of television and the internet. Yet there have been very few true geniuses at the art of mass persuasion in the last century. In public relations, Edward Bernays comes to mind. In advertising, most Hall-of-Famers--J. Walter Thomson, David Ogilvy, Bill Bernbach, Bruce Barton, Ray Rubicam, and others--point to one individual as the "father" of modern advertising: Albert D. Lasker. And yet Lasker--unlike Bernays, Thomson, Ogilvy, and the others--remains an enigma. Now, Jeffrey Cruikshank and Arthur Schultz, having uncovered a treasure trove of Lasker's papers, have written a fascinating and revealing biography of one of the 20th century's most powerful, intriguing, and instructive figures. It is no exaggeration to say that Lasker created modern advertising. He was the first influential proponent of "reason why" advertising, a consumer-centered approach that skillfully melded form and content and a precursor to the "unique selling proposition" approach that today dominates the industry. More than that, he was a prominent political figure, champion of civil rights, man of extreme wealth and hobnobber with kings and maharajahs, as well as with the likes of Albert Einstein and Eleanor Roosevelt. He was also a deeply troubled man, who suffered mental collapses throughout his adult life, though was able fight through and continue his amazing creative and productive activities into later life. This is the story of a man who shaped an industry, and in many ways, shaped a century.
Author: James O'Shea
Publisher: Hachette UK
ISBN: 1610392140
Category : Language Arts & Disciplines
Languages : en
Pages : 416
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Book Description
In 2000, after the Tribune Company acquired Times Mirror Corporation, it comprised the most powerful collection of newspapers in the world. How then did Tribune nosedive into bankruptcy and public scandal? In The Deal From Hell, veteran Tribune and Los Angeles Times editor James O'Shea takes us behind the scenes of the decisions that led to disaster in boardrooms and newsrooms from coast to coast, based on access to key players, court testimony, and sworn depositions. The Deal From Hell is a riveting narrative that chronicles how news industry executives and editors--convinced they were acting in the best interests of their publications--made a series of flawed decisions that endangered journalistic credibility and drove the newspapers, already confronting a perfect storm of political, technological, economic, and social turmoil, to the brink of extinction.
Author: Eileen Appelbaum
Publisher: Russell Sage Foundation
ISBN: 1610448189
Category : Business & Economics
Languages : en
Pages : 396
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Book Description
Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
Author: James M. Schell
Publisher: Law Journal Press
ISBN: 9781588520883
Category : Business & Economics
Languages : en
Pages : 864
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Book Description
"The best guide to private equity funds. Insight and explanations for both fund sponsors and investors. The gold standard." --Andrew Zalasin, General Partner and CFO: RRE Ventures Best Practices for Organizing and Managing a Fund With nearly $7 trillion invested in more than 20,000 funds, investor interest in the private equity industry has returned, despite the economic turmoil of recent years. Still, guidance about the organization and administration of these funds is tough to find. This 1,400+ page resource, will equip corporate lawyers, investment professionals, and tax practitioners and with best practices to manage these funds effectively. Private Equity Funds: Business Structure and Operations covers a wide range of important issues, such as: the key economic differences between various types of funds; structuring the private equity fund to meet economic expectations and investment goals; securing maximum tax benefits for the sponsor of the fund; duties of the fund's General Partner and Investment Advisor; the major regulatory issues affecting the private equity fund; and much more. Private Equity Funds: Business Structure and Operations reflects the aftermath of the financial crisis of 2007 to 2009. The authors also focus on cyber risk and the compliance obligations of investment advisers.
Author: Eli Talmor
Publisher: John Wiley & Sons
ISBN: 1119973880
Category : Business & Economics
Languages : en
Pages : 801
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Book Description
Bringing a unique joint practitioner and academic perspective to the topic, this is the only available text on private equity truly international in focus. Examples are drawn from Europe the Middle East, Africa and America with major case studies from a wide range of business sectors, from the prestigious collection of the London Business School’s Coller Institute of Private Equity. Much more than a simple case book, however, International Private Equity provides a valuable overview of the private equity industry and uses the studies to exemplify all stages of the deal process, and to illustrate such key topics as investing in emerging markets; each chapter guides the reader with an authoritative narrative on the topic treated. Covering all the main aspects of the private equity model, the book includes treatment of fund raising, fund structuring, fund performance measurement, private equity valuation, due diligence, modeling of leveraged buyout transactions, and harvesting of private equity investments.
Author: Donald L. Barlett
Publisher: Andrews McMeel Publishing
ISBN: 9780836270013
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
Articles and graphics describe economic conditions since the 1980s and their effect on the nation.
Author: Thomas Geoghegan
Publisher: The New Press
ISBN: 1595588361
Category : Business & Economics
Languages : en
Pages : 274
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Book Description
Is labor's day over or is this the big moment? Acclaimed author Geoghegan asserts that only a new kind of labor movement can help the country switch course toward a future that is fair and prosperous for all Americans.
