peHUB Second Opinion 3.1

Tricky TXU: The New York Times tackles KKR’s TXU in a long story which opens with Henry Kravis negotiating with Jamie Dimon in 2007. Story ends with the phrase “debtholders are getting hosed.” You get the drift.  (NYT)

Servicey: How to avoid getting burned in China and India. (BusinessWeek)

Lehman’s Desperate Housewives: There’s a book out about what it was like “being married to Lehman.” Deal Journal thinks it reminds him of Goodfellas. (DJ)

Golden Era Rusting: We’ve been saying it for awhile-that whole bit about how PE firms are going to have amazing vintages in 2009 and this is the golden era for PE bargains is simply not the case. Prices just haven’t come down low enough. (Bloomberg)

However: The Credit Crunch is easing for private equity. (FT)

Competition: Brazilian buyout firms have $9 billion in Dry Powder. That’s about how much your average mega-firm is sitting on, but it’s nothing to sneeze at. (Bloomberg)