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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: privatization

privatization stories: 24 news summaries

1 - 20 of 24 Stories | 1 2 Next >>

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Wanna Buy the Chunnel? Get it Now From Slash Gordon

Brown mounts $25.3B asset sale, including underwater rail link

Oct 12, 09 3:38 AM CDT
(Newser) - British Prime Minister Gordon Brown is launching a massive $25.3 billion sell-off of Britain's assets, ranging from student loans to the Chunnel linking England and France, in order to reduce record deficits and maintain public expenditures. As the British election draws nearer, the Labor Party is attempting to burnish... More »

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Gordon Brown • privatization • national debt • Eurostar • Channel Tunnel • public goods • public land

OPINION

Privatize Abortion Funding to Save Health Care Reform

Independent fund could finance procedures, diffuse criticisms of govt. plan

Aug 13, 09 6:04 PM CDT
(Newser) - Abortion threatens to derail the push for health care reform, as opponents use the prospect of subsidized procedures to turn pro-life Americans against the whole plan, writes Meredith Simmons for Slate. Progressives are indignant—abortion is a health procedure, they argue, and should be covered like any other. But excluding... More »

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abortion • privatization • charity • funding • health care reform • Blue Dog Democrats • poverty line

Lehman Bros. Pondering Privatization

Its stock in downward spiral, ailing firm looks to stave off scavengers

Jul 15, 08 10:58 AM CDT
(Newser) - Lehman Brothers’ CEO is considering ways for the company to privatize itself, the New York Post reports. The financial-services firm has seen its share price fall 79% this year—including 15% yesterday—and Richard Fuld is hoping to ward off bargain-hunters. "The idea is why sell to someone else... More »

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privatization • Lehman Brothers • Richard Fuld

ANALYSIS

Social Security Reform Dicey
for McCain

GOP candidate talks up privatization; Dems promise stiff opposition

Jul 14, 08 11:26 AM CDT
(Newser) - John McCain has opened a political can of worms by embracing the polarizing issue of privatizing social security, the Los Angeles Times reports. McCain says making young workers pay into a plan unlikely to benefit them is a "disgrace." Counters a rep for one group planning to fight... More »

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John McCain • privatization • Social Security • McCain 2008 • Election 2008 • election

Senate Moves to Privatize Anemic Restaurants

Move takes money- losing subpar eateries off the taxpayer dime

Jun 9, 08 8:03 AM CDT
(Newser) - The Senate has voted to privatize its restaurants after decades of losing money, the Washington Post reports. The decision comes after much wrangling among Democrats, split between the $250,000 taxpayer subsidy that keeps the restaurants afloat and the lower wages workers would receive. “You cannot stand on the... More »

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Congress • taxes • Senate • Dianne Feinstein • restaurant • privatization • subsidies

$19B Buyout of Clear Channel Nearly Dead

Credit woes have sale of radio giant to private firms crumbling

Mar 25, 08 7:30 PM CDT
(Newser) - A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one... More »

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Clear Channel • Bain Capital • Thomas H. Lee Partners • privatization • bank • credit market • financial institutions • sale

More US Troops Outfitting Themselves for Combat

With slow supply chain—and style—among concerns, market grows to $150M annually

Mar 6, 08 1:39 PM CST
(Newser) - US troops are increasingly augmenting their military-issue gear with higher-end commercial products to gain an extra edge—and look sharp, the Christian Science Monitor reports. The military has encouraged the trend, perhaps in response to the equipment shortages that have dogged the Iraq and Afghanistan war efforts, loosening procurement rules... More »

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Iraq • Afghanistan • privatization • House Armed Services Committee • Iraq war • supply chain • military gear • military equipment • Commando Military Supply • Tactical Tailor • Oakley • Gore-Tex • Operation Helmet • DefenseWatch • Iraq war spending

Hit the Road, Jack—or You Can Lease It

Critics balk as states privatize highways
to raise capital

Oct 24, 07 11:15 AM CDT
(Newser) - Cruising the Goldman Sachs Turnpike might not be as futuristic as it seems, Time reports, as more states lease highways to private companies to raise quick cash for infrastructure needs. And backlash didn't stop Indiana from grabbing $3.8 billion for a 75-year lease on the Indiana Toll Road. States... More »

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Carlyle Group • Goldman Sachs • privatization • highways • House Transportation Committee • Indiana Toll Road • governor

Shareholders
OK Tribune Takeover

But analysts say
Zell's bid should
be lowered

Aug 21, 07 1:41 PM CDT
(Newser) - The Tribune Co.’s shareholders approved Sam Zell's $8.2 billion takeover today, nudging the publisher one step closer to private ownership. But some analysts remain skeptical that the deal will go through as planned—the company’s declining profitability since the April announcement has triggered speculation that the... More »

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Chicago Cubs • Sam Zell • FCC • Chicago • Tribune Company • shareholders • privatization • acquisition • takeover • Los Angeles Times • JPMorgan Chase

Blackstone Books Hilton For $26B

Offer represents 40% premium; chain to stick to hotel management

Jul 3, 07 8:38 PM CDT
(Newser) - Blackstone moved to expand its hotel portfolio in a big way late today, making a deal to take Hilton private for $26 billion, including $7.5 billion in debt. The $47.50 per share offer, 40% more than yesterday's close, turned the head of the chain's CEO, who called it... More »

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private equity • Blackstone Group • privatization • Wyndham • hotel • Hilton • LaQuinta

BCE Agrees to Landmark LBO

Ontario teachers' retirement fund lines up largest Canadian takeover ever

Jul 1, 07 10:24 AM CDT
(Newser) - Canada's dominant telecom company will go private in the country's biggest takeover ever, and one of the largest LBOs in the world. A powerful teachers' retirement fund and two American private-equity firms made a deal yesterday for CBE, also known as Bell Canada. The $48.5 billion (C$51.7 billion)... More »

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private equity • Canada • Bell Canada • privatization • telecom • takeover • Madison Dearborn • buyout • LBO • retirement fund • CBE • Providence Equity • teacher

Wendy's on Block as Stale Sales Sink Earnings 

High beef prices, tough competition take toll

Jun 19, 07 5:29 AM CDT
(Newser) - Wendy's is looking for buyers as the hamburger chain's earnings and market share plummet. Aggressive competition from McDonald's and Burger King as well as soaring beef and dairy prices have taken a  big bite out of Wendy's bottom line, the Wall Street Journal reports. More »

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food • McDonald's • fast food • Nelson Peltz • Wendy's • privatization • Triarc Co.

Gambling Firm Agrees to Buyout

Penn National Gaming changes hands for $8.9B

Jun 15, 07 4:08 PM CDT
(Newser) - The casino-operator buyout spree continued today as Penn National Gaming agreed to be acquired by two private-equity firms for $8.9 billion. The deal, which allows the company to solicit bids for 45 days, includes $2.8 billion in debt. News of the $67-a-share offer, a 31% premium over yesterday's... More »

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private equity • business • stocks • Penn National Gaming • Fortress Investment Group • Centerbridge Partners • Harrah's • privatization • casino • acquisition

Hot LBO Market
Takes Hit

As big-time deals struggle to manage debt, beware the Trojan piggy bank

Jun 8, 07 9:40 AM CDT
(Newser) - The red-hot market for LBOs may be hitting a long-awaited rough patch. Several big deals—including Apollo's $1.3 billion Linens 'n Things buy and the multigroup $17.6 billion acquisition of Freescale Semiconductor Holdings—have turned sour, with the companies struggling to generate enough cash to pay down debt... More »

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takeovers • leveraged buyouts • merger • business • LBOs • Apollo Management LP • Avista Capital Partners • debt • privatization • acquisition • US economy

US Intelligence In Private Hands

Billions a year spent on private intel contracts—but where's the money going?

May 31, 07 8:00 AM CDT
(Newser) - Since 9/11, the US government has been upping spending on private intelligence contractors, doling out cash that is often classified and impossible to trace, Salon reports. 70% of all classified intelligence spending goes into private hands, making waste and corruption serious concerns. More »

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intelligence • outsourcing • contractors • intelligence spending • money • privatization • secrecy

Tishman, Lehman Close REIT Deal

$13.5B offer for apartment giant marks major privatization

May 29, 07 11:50 AM CDT
(Newser) - In a penthouse-level play, real estate developer Tishman Speyer Properties and investment bank Lehman Brothers will spend $13.5 billion to buy the nation's second-largest apartment owner. The $60.75 per share offer for real estate trust Archstone-Smith, confirmed this morning, will take the company private in a deal worth... More »

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real estate • merger • business • privatization • acquisition • Tishman Speyer Properties • Lehman Brothers • Archstone Smith • investment banks

Kerkorian Bets on Bellagio

Billionaire who controls MGM Mirage makes bid for its two hottest assetsi

May 22, 07 2:54 PM CDT
(Newser) - Activist investor Kirk Kerkorian, who holds a controlling interest in MGM Mirage, is making a play to buy two of the casino company's crown jewels. Kerkorian's company, Tracinda Corp., is in talks to acquire MGM's Bellagio Casino and the $7.4 billion CityCenter development, currently under construction. Kerkorian currently owns... More »

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private equity • Kirk Kerkorian • investors • Bellagio • MGM Mirage • Tracinda Corp. • privatization • CityCenter

(Newser) - After months of stops and starts, Clear Channel's board today gave the green light to a $19.5 billion buyout offer. The communications giant bit after Thomas H. Lee Partners and Bain Capital, which have been bidding since November, gained the backing of two large shareholders. The successful offer was... More »

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private equity • radio • Clear Channel • Bain Capital • Thomas H. Lee Partners • shareholders • business • privatization • communication

Blackstone Makes $7.8B Deal for Alliance

Private equity continues to pour into financial processing

May 17, 07 2:55 PM CDT
(Newser) - Blackstone has snapped up credit card services provider Alliance Data for $7.8 billion, joining a surge of private equity into dull but profitable back-office firms. The 30% above-market offer for Alliance, which also runs a data processing unit, is the latest in a wave of takeovers in the financial-processing... More »

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private equity • Blackstone Group • takeovers • Alliance Data Systems Corp. • merger • business • KKR • First Data • privatization • acquisition

(Newser) - The looming Murdochization of the Wall Street Journal highlights what people should have realized long ago, writes Gary Weiss: just how disastrous public ownership is to the newspaper business. Every time that investors' bottom lines are matched against journalistic integrity, journalism gets tramped. "The only solution," he says,... More »

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newspaper • Rupert Murdoch • Wall Street Journal • journalism • privatization • pubic ownership • newspaper industry

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