peHUB Second Opinion 10.7.08

Dealscape: Welcome to Great Depression 2.0. Here come the boutique advisory and buyout shops.

PR Wars: The civil kind, not ones waged against the press. I wonder if Kekst & Co. was hurt by its sale to Publicis? Or did it sell because they were slumping? Probably neither, but they’ve been ousted as the number one M&A PR firm by value. Brunswick pushed ‘em out, thanks to their representation on Inbev/Anheuser. But no worries, Kekst maintained the top spot for deal volume (and I’m sure that like a good PR firm they’d spin that as more important).

Ha: Dealzone brings the economic humour.

Question:  Define a Balance Sheet.

Answer:  There are two sides to a Balance Sheet: the Left & the Right (Liabilities and Assets respectively). On the Left side there is nothing right.

On the Right side, there is nothing left.

False Optimism: Investment Pros Whisper Bottom Is Near?  Really? 

Uh Oh: Those affordable housing units that PE firms and Reits acquired to increase the rents on? Looks like the loans on those things are about to go bad, too.

Told You So: Like so many bloggers have said, now (or before) is not the time to worry about moral hazard. Case in point, Lehman, the FT argues.

The Lost Art Of MBOs: At least there’s one bold management buyout in the works. (Bold move to cut the pricing, too, since I always thought MBOs and especially BIMBOs had “what fiduciary duty?” written all over it (speaking of moral hazard…)

Obnoxiously Hilarious: Kedrosky posts Jim Cramer’s guest appearance on Colbert Report.