In question today: TA Associates, American Capital, Castle Harlan, Bob Dylan, dinner parties and Caxton-Iseman Capital.
***Knicks star and Steve & Barry’s product pusher Stephon Marbury is suing the bankrupt retailer (and TA Associates investment) for the royalties he would’ve earned. Who thinks Sarah Jessica Parker’ll be next?
***In its second exit of the day, American Capital executes yet another seller financing. The firm is quite fond of these, as you may remember such an exit in March. American Capital sold Anchor Drilling to Castle Harlan, and provided the mezzanine finance. As David Toll outlines in a recent editors letter, there are quite a few pros and cons to seller notes.
***It may be common knowledge, or second nature to some, but a refresher in business entertaining tips from The Glass Hammer never hurts.
***Treat your assistants well, or learn the hard way. That, or be more discriminating about your hires. Caxton-Iseman Capital (which now goes by CI Capital) recently learned that lesson, as the apparently harrowed assistant to Frederick Iseman found her own way to retaliate: assistant Fatima Monohan used his corporate card to buy more than $45,000 worth of personal goods. Meanwhile, she’s suing Iseman for sexual harassment. Not sure which came first here, the stealing or the harassment, but either way, one does not lend credibility to the other. Bloomberg via Dealscape