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Nay Sayers: China Law blog and China Private Equity Blog argue that all these big remnibi funds from Blcakstone and the like are going to do crappy. (China Law Blog) M&A Q&A: Why Does Iconix, an apparel company, want Playboy, a media company? Well, it's because of the lingerie. (Dealscape) Hey Everyone: Bill Gates thinks Wall Street pay is too high, and also, he doesn't envy the pay czar. (Reuters) M&A Crystal Ball: Five media deals paidContent would like to see happen, including Google + Clear Channel and Microsoft + Rim. (paidContent) Women Hold Half of U.S. Jobs: Households That Could Afford to Have One Spouse Stay Home Find Roles Upended by Layoffs in Male-Dominated Industries (WSJ)
Sleeping With Private Equity: The difference between Simmons and Sealy (one failed, one didn't, but why?). (FT Alphaville) More on The Buyout of America: A UK reviewer weighs in. (Times Online) And a WSJ reviewer does too. (WSJ) Advice to live by: Skip the beginning, but around the middle there is some great presentation advice, including, "When giving presentations, the only rule that matters is the rule of attention." I really wish some of the CEOs whose painful presentations I've sat through over the years could read this. (I'm talking to you, Nelson J. Marchioli!.) (Finite Attention Span) Clawbacks: They're not new to private equity, and they very well may make an appearance in the coming years, but now they're being applied to banker bonuses too. (Reuters) One Could Easily Argue That: RegFD is a joke. (Fierce ComplianceIT)
You Guys Ready for a Surge in M&A? JPMorgan is. Richard Bove is particularly bullish on the firm's advisory prospects. (Dealzone) Keeping Up Appearances: What do laid off bankers do when the severance runs out? (WSJ) Meanwhile: Dealscape thinks the story is strangely similar to the plotline of the move "Fun with Dick and Jane." Loan Opinions: Nervous bankers are willing to lend again according to a recent survey. (Business Insider) Bloggers and Hedge Funders Can Be Friends: If Daily Intel and John Paulson were friends, this is what their IMs would look like. (Daily Intel)
The Winning Young Entrepreneurs of 2009: The results are in for BusinessWeek's Best Entrepreneurs 25 and Under roundup. Number one is the founders of Emergent. (BW) BX Talks a Little Shit: In a not-so-subtle jab at TPG, Tony James in Blackstone's earnings call said, "Many of our competitors are not so lucky and many are being forced to give back capital, to downsize and to change strategy." More on that from The FT. PE BACK! Some banks are preparing for the return of PE. On the hiring front, UBS Investment Bank and BMO Capital Markets have beefed up their financial sponsors teams. (Dealscape) And Speaking of Hiring: Here's a Q&A with the head of recruiting at Carlyle Group. (FINS)
GE Capital is Back: Analysts are bullish about GE Capital: "We believe the risk GE Capital poses is reduced, 2010 earnings achievability is high, and there is more upside across the company into 2011." That goes in line with a lender I spoke with who said he'd competed with GE Capital on a deal this week for the first time since last year! (WSJ) Where are Harvard Grads Going? "About 11 percent went to private equity or leveraged buyout jobs, and 2 percent took positions in the venture capital industry, compared with 17 percent and 4 percent last year, respectively." (Dealbook) A Brutal Wakeup Call for Part-Time B-Schools: The economic crisis has hit executive MBA and non-degree programs hard, but the savviest are adapting to the new market. (BusinessWeek) The Dark Side of the Productivity Surge: The third-quarter productivity numbers show that business is squeezing more work out of employees in hard times. (BusinessWeek) And Now that You're Overworked More Productive: Businesses aren't going to hire new people to give you a break. (WSJ)
Big and Private: Forbes released its list of the largest private companies, and has included a separate slideshow highlighting the biggest firms and their holdings. (Forbes) 09 Bonus Watch: Get ready for your big bonus! They're "BACK!" Unless of course they never went away for you (talking to you, PE pros...). (WSJ) The Man Who Sunk Citi Starting a Hubris Fund: Proof that no matter how much you lost on subprime bets, you can still raise $100 million for a hedge fund. (Dealbreaker) Bank Buyin' Siguler Guff has purchased a stake in a Russian bank. (FT)
Buyout investors shun new funds for secondaries Why No One Knows Where the Economy Really Stands How Women Handle Success The Woman Who Made It on Wall Street Here's How Much The Bailouts Cost YOU: (hint: $1,517) China PE industry surging
Start your Engines: Private equity is ready (raring to go, even) for bank deals. (IDD) In Case You're Following: Bonds are bad, says Dr Doom. (FT Alphaville) PE Target? With KKR and KPS's beer deals lately, it wouldn't surprise me if a buyout firm went after Pabst Brewing Company, which is shopping itself via Bank of America Merrill Lynch. (NY Post) This is a Large Deal But Maybe Not a Big Deal: Warren Buffet enters the mega-buyout game, precisely when no one else is. (WSJ) Want to be an accountant? Here is some resume advice. (FINS)
Now Hiring: Meredith Whitney (Fierce Finance) Unpopular: PE-backed companies wanting to IPO have an uphill battle, including, "not least a wary public that won't be keen to take on companies whose owners have a reputation for piling on debt and asset-stripping." (WSJ) Op-Eds: Nouriel Roubini writes for the FT that the "mother of all carry trades faces an inevitable bust." (FT) Lawyer-y Stuff: The Place Of Private Equity In The Investment World, as told by Sean Hill of Proskauer Rose. (Metro Corp Counsel)
Happy Halloween! New Money: Oklahoma Teachers has $400 million to invest in private equity, via Franklin Park. (Global Investor) The Scourge of Private Equity: Meet Fed Reserve boardmember Daniel K. Tarullo. He's taking a hard line against private equity investment in banks. (Dealscape) Priority Readjustment: One in four people are glad the world's economy slumped like it did. (CNBC) New Target: Has Andrew Cuomo moved on from targeting private equity? Today he announced a big kickback scandal at Amgen, yet we haven't heard anything for awhile on PE pay-for-play, especially regarding the elephant in the room, Steve Rattner and Quadrangle. What gives? (Clusterstock) Buyout Blackball: Buyout deals in banking have hit a ton of roadblocks. So much for that great opportunity... (The Deal)
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