President Trump said to consider ousting Commerce Secretary Ross; Lariat, launched by ex-KRG, RedCloud execs, is winding down; Lightyear to seek buyer for Wealth Enhancement
Happy Prime Day, Hubsters!
I was one of the many stuck in Manhattan on Saturday evening as the power outage hit. It was amazing watching night descend on the city as the streets turned dark, very dark. Not even the street lights came on. Then, I watched in terror as a man, on 66th and Broadway, stood in the middle of the street and tried to direct traffic. I could barely see him so I don’t know how drivers managed to avoid him. The other horror? Warm beer.
It’s not clear what caused the blackout but I’ll take a guess. Old infrastructure. I only say this because NYC, and pretty much every other city out there, needs better infrastructure. Or at least updated infrastructure. How did the blackout affect you?
Reaching the hurdle rate, traditionally set at 8 percent, remains a significant challenge for VC and Buyout funds, according to data from eFront. More than 60 percent of LBO funds managed to beat the hurdle rate, while only 38 percent of VC funds surpassed 8 percent, eFront said, which looked at the distribution of historical IRRs provided by LBO and VC funds for all vintage years.
Still, the performance of U.S. Venture capital funds has improved since the dot.com bust, eFront said. US VC funds created up to 2012 posted an overall pooled average IRR of 14.4 percent, the research firm said.
President Donald Trump is considering ousting Commerce Secretary Wilbur Ross, again. According to NBC, Trump is frustrated by Ross’s leadership of the Census Bureau, which is within the Commerce Department. The Supreme Court last month dealt a major blow to the Trump administration when it barred the inclusion of a citizenship question on the 2020 census.
This isn’t the first time Trump has reportedly wanted to oust Ross. But this time, White House officials expect Ross to be gone by this summer, NBC said.
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