peHUB Second Opinion 8.19

This Is Bad: The New York Times published a pretty unfavorable article about New York City Comptroller William C. Thompson Jr. The system has lagged in performance behind its peers even as the city tripled its money managers and fees paid. Meanwhile Thompson’s campaign contributions have grown. “In some cases, the executives gave to Mr. Thompson just months before the pension funds hired them to manage tens of millions of dollars, according to interviews and public records,” the article states. (NY Times)

Putting an End to the Speculation: Mark your calendars for August 26 to finally find out what’s up with the FDIC’s rules on PE investing in banks.  That’s when they’re voting. (Reuters)

Debate Club: Private Equity versus Venture Capital. BusinessWeek thinks private equity wins in times of economic trouble. (Bigger is better? Believing the “operational expertise” lie?) (BW)

And On The Other Side Of The Pond: Private equity firms are going back to investors for more money to fix ailing companies or to make acquisitions, opening a new round of tough talks as they struggle to recover from the credit crunch. (Reuters)

The Travails of Journalists Turned Financiers: The crossover hasn’t been pleasant for all. (DJ)

MGM Has A New CEO: The move comes as MGM grapples with a dormant film business and a crippling debt load. To help restructure the company, MGM’s owners — Providence Equity Partners, TPG, Comcast Corp. and Sony Corp.– have recruited Mr. Cooper, a corporate turnaround specialist known for parachuting into troubled companies including Enron and KrispyKreme. (WSJ)