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peHUB Second Opinion 6.10

This is Just Wrong: What kind of genius does it take to turn $517 million into $75 million over the course of 39 months? That’s what Talbots did and Golden Gate Capital capitalized on. (Footnoted)

Peter Theil: At a conference, he calls the tech boom of the late 90s a fraud. (Valleywag)

What’s Wrong With Financial News on Television: Proof that nobody at Fox Business News knows what’s going on, at all. (Gawker)

Just Depressing: Now that the U.S. taxpayers are minority shareholders in Citigroup, we might be happy to learn that the company is using its resources to sue a networking website called, because its similar to Citigroup’s own “Women & Co.,” a money managing business. Christ. (Cityfile)

Regulatory Shopping: Private equity firms are using regulatory arbitrage. Writes Money Morning: “The financial Barbarians are at the gates of the U.S. banking sector.” (MM)

Private Equity: Not so shareholder friendly? (Dealbook)

Zilch: Apax has written Emap down to zero. (Telegraph)

Studies: Are PE-backed companies better at governance? This report seeks to answer that question, but doesn’t really succeeed (at least not in its executive summary. I guess that’s what we have to pay for….) (Dealscape)

Podcasts: Barry Ritholtz explains how greed destroyed the American economic system. (Moneybox)

Signal To Noise: There’s an art to writing a Facebook or Twitter update (although it’s ironic that the reporter on this story chose the most random unimportant people to quote…). (USA Today)

Call Your Rich Friends: “Smaller private equity firms plan to rely more on wealthy investors for new capital even as these rich clients grumble about high fees, low returns and fear they won’t be able to get their money out.” (Reuters)

Ew: Sears + AOL = “Good News Now” news Network, which offers feel-good stories about seven leaf clovers and senior citizen marriages. It is the Bollywood of journalism. (TechCrunch)