Layoffs at Blackstone: Seventy jobs, 7% of employees, affecting most of the business units. (Bloomberg)
Do You Really Need an MBA: Surprisingly, MBAs in PE are not as common as you’d think, according to PEdatabase. Check out their mildly unscientific study, which shows only 39% of private equity CEOs and only 42% of Partners have an MBA. (Private Equity Database)
Bloggers Influenced The Palin Pick: So why can’t they influence a billion-dollar merger? Between Google and The New York Times… (Dealscape)
Bigger than Enron: Angry clients stormed the Madoff Headquarters this morning, Clusterstock has the Google street view image.
John Gapper Declares: “Its time to stop improvising our way out of trouble.” (FT)
Pensions At Risk: Paul Kedrosky maps out the pension funds most at risk in the current environment, given their exposure to equity over bonds.
U.S. Consumers Saving: For once. Which means they’re not spending. But look at the upside: “U.S. households paid down debt for the first time since the central bank started collecting the information in 1952.” (Wall Street Journal)
KKR Seeks To Avoid Apollo’s Fate: Who wouldn’t though. (Seeking Alpha)
PE 101: Some background for the rooks.
Off Topic: Followers of this column by now have figured out that my off-topic vice is bacon. On that note, this is pretty amazing.