Elliot Spitzer Has A New Job: He’s now an online columnist for Slate. This is sure to generate giant eyerolls and tons of begrudging readership. Brilliant marketing move for the online magazine, I say.
Winner: Neuberger Berman has sold to, itself! Management and senior employees won the auction.
Realogy: What its basement level bond prices mean for the company’s solvency.
Leaked: Kleiner Perkins accidentally published 588 iFund Applications online. Shouldn’t VC guys have their sh*t together on tech-y stuff like this? Either way, big oops.
Truckin: The Big Three CEOs had to drive to their hearings this time, after outrage over the whole private jet debacle. Dealzone suggests some roadtrip tunes.
Vying Aggressively For Relief: Nonbank firms are, that is. WSJ.
Bad Bets: That whole casino sector isn’t looking so hot these days: “Real estate values have fallen substantially, and descending revenue, high debt loads and limited refinancing options are putting many gaming companies in a bind,” Dealscape reports.
Big, Big Exit: Temasek sells PowerSeraya for $2.5 billion.
Love It: Dealscape explores “the depressing scramble to name the recession.”
Sweeping Generalizations: PE Database lays out what PE firms look for in acquisition targets. I can’t say all of these (“growth potential,” “strong management”) are surprising or, taken together, could possibly apply to anything but your most generic middle market generalist, but it might be a good primer for unsophisticated sellers, if there are any left (doubtful).
$8 billion in four months: I know you know, just thought it bore repeating.
Rubenstein: Not only is he laying off but he’s predicting bad things for hedge funds and PE.