Letters for Leo

Yesterday I reported that Leo Hindery would be among those who testify about carried interest tax treatment, in front of the House Ways & Means Committee. More specifically, I wrote that Hindery is a private equity pro who supports a change in treatment from capital gains to ordinary income — but that his market experience is insufficient to make waves. In other words, he’s no Nick Ferguson.

Since then, a number of readers have written to say I’m way off base. For example, Kevin writes: “Hindery ran a series of 2-3 sizeable private equity partnerships back in the 90’s called Intermedia Partners which specialized in cable television acquisitions. This new fund is his second go at it — he knows the PE business.”

Or Mike: “His earlier investing was doing aggregation plays in cable – not really fund format but not public equity by any means. He’s very well known in media circles, PE or otherwise. Better hope he doesn’t buy Thomson and can you.”

I still say Hindery is not the ideal spokesman for pro-change denizens, but I say so far less strenuously than I did earlier. My partial apologies — which could continue expanding…

BTW: The full witness list is now available here.