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peHUB Second Opinion 4.8

Oops: Did lawyers from New York’s elite Wachtell, Lipton, Rosen & Katz mess up the Hexion Specialty Chemicals/Huntsman situation? Deal Journal reports yes, through “an operatic series of bad decisions and miscalculations.” (DJ)

While Everyone Sits On Their Hands: Sullivan and Cromwell says, “Deals are always risky, but doing nothing in a downturn may be the riskiest move of all.” (BusinessWeek)

Opposite Day: Yesterday we learned about “Obama-friendly” PE investing. Here’s one company ideally suited not to prosper under the new administration. (Slate)

Rule #1 of Pirate Negotiating: Don’t give up your hostage (especially if it’s the only one you have) before they do. According to reports on the ongoing saga: “After negotiating with the pirates, the civilian crew released the one pirate they had, expecting the pirates to release the captain, the sources added, but that did not happen.” Ouch. (MSNBC)

Speaking of: Are the Somali pirates really reinvesting in their ‘business’? “Somali pirates reportedly set aside some 20 percent of ransom monies received to purchase new equipment and acquire new capabilities (such as GPS locators).” (Clusterstock, National Interest Online)

PE: Pulled out of Asia and India is no exception. Investments in the region are down 87% in Q1. (WSJ)

Thanks: Felix Salmon joins my multiple tirades against horrible PR pitches, targeting 5W PR for pitching what is basically a pyramid scheme story. (Felix Salmon)

Oh Man: The Porn fund is a sham! Maybe. (Dealbreaker, FINAlternatives)

Poor Jim Cramer: Well, he’s probably not poor in the monetary sense. And I don’t particularly pity him, but anyways, now the guy is taking a beating from Nouriel Roubini. “Cramer is a buffoon,” he said. (ABC)

Lists: Five ways companies breed incompetence. (Business Pundit)

Our Own: Thomson Reuters’ CEO, Tom Glocer, stepped away from the corporatespeak for a night… He doesn’t understand why the NY Times needs to have 600-700 journalists, he said. (Observer)

More Lists: Ten principals for a Black Swan-proof World, by Nassim Taleb. (FT)