By Matthew Smith:Manufacturers have seen solid results this week with Whirlpool (WHR) and Boeing (BA) leading the way and possibly foreshadowing better results from other names such as United Technologies (UTX).
Yves here. Steve Horn of DeSmogBlog has done important original reporting and uncovered what could be impermissible dealings between North Dakota officials and David Petraeus, in his role as emissary for one of private equity’s best-known players, KKR.
Last week, Crain’s Business Daily and Fortune reported that whistleblower has provided the SEC with evidence of massive, ongoing violations of securities laws, specifically, the Securities Exchange Act of 1934, by several unnamed private equity firms.
For many Americans, the private equity industry is shrouded in mystery. Mitt Romney's private equity background at Bain Capital was used as a cudgel against him during the 2012 campaign. What public value does private equity add, his opponents asked? A business of buying and selling other businesses? Is that actually good for humanity — or just investors?
The of has never retreated from his long standing revulsion at?? the Leveraged Buyout Crowd who tried to camouflage their profession by calling themselves?? The Private Equity Crowd.?????? He and his curmudgeon partner Charlie Munger also show their disdain for Mitt Romney?s?? wheeling and dealing at Bain & Co. by calling the Private Equity Crowd ...
In our last post on questionable practices in the private equity industry, we saw how Harvard, whose long-standing law firm Ropes & Gray also acts as lead law firm to Bain Capital, was unlikely to get tough-minded representation in negotiating Bain deals. But even worse, Harvard has managed to allow Ropes to invest in a preferred position relative to Harvard in certain (likely cherrypicked) Bain deals.
General Motors To Start Repairing Vehicles
Things finally seem to be moving for General Motors Company (GM) as the automaker moves to switch gears in the latest episode of the ignition switch recall saga: getting the faulty vehicles fixed.
Greece is politically and economically bankrupt. Unemployment is 25% and destined to get much worse with the latest round of austerity measures.
Worse yet, Greece is still encumbered by massive layers of bureaucracy that makes it difficult to get anything done.
Yesterday, in a massive breach of security, Greek citizens stormed the defense ministry. This has German chancellor Angela Merkel willing to take a chance on a trip to Greece next week.