private equity

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After 58 Years, Founding Families Sell Subway

Chain is being sold to private equity firm Roark Capital

(Newser) - Subway said Thursday it will be sold to Roark Capital, a private equity firm with expertise in restaurant management that could help the sandwich chain expand and improve its stores. Terms of the deal weren't disclosed. Earlier this week, the Wall Street Journal reported that Atlanta-based Roark was offering...

Billionaire Financier Found Dead in NYC Office
Billionaire Financier Found
Dead in NYC Office
OBITUARY
Feb 24, 2023 5:49 AM CST

Billionaire Financier Found Dead in NYC Office

Sources tell 'New York Post' Thomas Lee died by suicide

(Newser) - Billionaire financier Thomas H. Lee, a pioneer of leveraged buyouts best known for his hugely profitable buyout of Snapple in 1992, has died at age 78. Family members confirmed the death and said "Our hearts are broken," per the Boston Globe . They did not disclose a cause of...

One Explanation for Why Things Get Worse at Nursing Homes

The 'New Yorker' looks at the role private equity plays

(Newser) - American society is in the early stages of a "silver tsunami," with adults over 65 expected to outnumber children by 2035. Demand for nursing homes will surge, as will revenues for those who operate such facilities, writes Yasmin Rafiei for the New Yorker. It’s an irresistible business...

Kim Kardashian Launches Private Equity Firm

SKYY Partners aims to translate her influence into investments

(Newser) - The financial papers are now keeping up with the Kardashians. Kim Kardashian's latest venture is a private equity firm, which she is launching with industry veteran Jay Sammons. The new firm, SKYY Partners, will seek to build on Kardashian's influence with her 329 million followers and will make...

Private-Equity Firm Bans the D-Word
Private-Equity Firm
Bans the D-Word
Oct 22, 2021 4:30 PM CDT

Private-Equity Firm Bans the D-Word

Saying 'deal' at Partners Group could get you fined $1K

(Newser) - As a private equity firm, making deals is what Partners Group Holdings does—but CEO David Layton has banned the D-word and set up the equivalent of a swear jar. Partners who write or say the word "deal" have to make a $1,000 donation to charity, while the...

Billionaire Charged in $2B Tax Evasion Case

'We will not hesitate to prosecute the smartest guys in the room'

(Newser) - Federal prosecutors charged Texas billionaire Robert Brockman on Thursday with a $2 billion tax fraud scheme in what they say is the largest such case against an American. Department of Justice officials said at a news conference that Brockman, 79, hid capital gains income over 20 years through a web...

Denver Post Revolts Against 'Vulture Capitalist' Owners

Editorial takes New York City hedge fund Alden Global Capital to task

(Newser) - "The smart money is that in a few years the Denver Post will be rotting bones." If you think the Post's newsroom staff was horrified to read such a prediction, you'd be wrong: Staffers wrote that line. It's found in a weekend editorial that calls...

Secret Ingredient That Saved Twinkies Is a Financial One

Private equity creates some of the biggest fortunes of our day

(Newser) - In 2012, the iconic Twinkie nearly went away for good. But in 2013, the snack made its triumphant return . The story of how that came to be illustrates a powerful, if poorly understood, force in the US economy—one that has created "some of the greatest fortunes of the...

Investor Group Gets Its Claws on PetSmart for $8.7B

Acquisition led by BC Partners will be 2014's largest private-equity deal

(Newser) - The question probably shouldn't be why someone just snatched up PetSmart for $8.7 billion, but why more investors weren't interested in acquiring this retailer. That's what a managing director of BC Partners—the private equity firm that led itself and other buyers in a strategic move...

Geithner Headed to Wall Street

Named president of private equity firm

(Newser) - Former Treasury Secretary Timothy Geithner, who played a central role in the government's response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC. The New York-based firm announced today that Geithner will serve as its president and managing director starting March 1. The company...

Romney's Next Job Will Be...
 Romney's Next Job Will Be... 
Nov 9, 2012 10:32 AM CST

Romney's Next Job Will Be...

People close to Mitt speculate about his future

(Newser) - When the bell tolled on Mitt Romney's presidential ambitions, he told his staff they'd just seen his final political campaign. But, he vowed, "I will not fall off the map," the New York Times reports. Now speculation is swirling over the former CEO's next gig....

Romney Event Hosted By Hedge Fund Sex Partier

Leder says he hasn't seen the video yet

(Newser) - Mitt Romney probably wishes you hadn't heard his impolitic talk at a closed-door fundraiser, and he's probably also hoping you don't hear much about the man who organized it: Private equity manager and Philadelphia 76ers co-owner Marc Leder. Mother Jones points out earlier reports painting Leder as...

Romney's Campaign a Lie of 'Historic Dimensions'

Mitt Romney rails against debt, but he got rich by creating it, Matt Taibbi argues

(Newser) - Mitt Romney's entire campaign is built around debt—he once described the nation's debt as a "prairie fire" getting "closer to the homes and children we love." Which makes the whole affair "a shimmering pearl of perfect political hypocrisy," writes Matt Taibbi for...

Why Obama's Bain Attacks Are Actually Working

They illustrate 'stark divide between capital and the rest of us': Michael Wolff

(Newser) - Barack Obama's attacks on Mitt Romney's Bain Capital tenure are working, especially in swing states, according to a recent New York Times article—even though Democrats' populist attacks tend to flop, and even though many Democrats, like Cory Booker, oppose them. Their thinking is simple, Michael Wolff explains...

Top Dems to Obama: Keep Attacking Bain

But a few worry strategy could hurt among independents

(Newser) - Some Democratic leaders may have their doubts about President Obama's attacks on Bain Capital —but most give the message the thumbs up and want him to keep at it. Mitt Romney "wanted to have this conversation," Pennsylvania's Democratic chair tells the Washington Post , which has...

'Masters of the Universe' Sure Have Fragile Egos
'Masters of the Universe'
Sure Have Fragile Egos
paul krugman
May 25, 2012 1:08 PM CDT

'Masters of the Universe' Sure Have Fragile Egos

It would be funny, if it weren't so 'shameful': Paul Krugman

(Newser) - Paul Krugman has some choice words today for the titans of Wall Street, who can't seem to take a little criticism from the president. "It has, in a way, been funny to see how childish and thin-skinned the Masters of the Universe turn out to be," he...

President: Romney's Bain Record Is Fair Game

Mitt's job creation claims should be examined, says prez

(Newser) - President Obama isn't backing down from his attacks on Mitt Romney's record at Bain Capital. The focus on the private equity firm "is not a distraction. This is what this campaign is going to be about," he said at a press conference in Chicago yesterday. Romney'...

Private Equity Can Ruin Firms —and Still Profit

Tax loopholes, money tricks benefit bosses like Mitt Romney: James Surowiecki

(Newser) - Mitt Romney's opponents have slapped Bain Capital over layoffs, but private equity actually has little overall effect on job numbers. Instead, the crimes of such companies are centered on the way they make money, writes James Surowiecki in the New Yorker . What we should be concerned about is the...

Romney's Bain Had Loads of Profit, Bankruptcies

Wall Street Journal says Romney's firm didn't always turn things around

(Newser) - Mitt Romney has touted his time at Bain Capital as proof that he's the "turnaround artist" America needs, but an analysis of the companies he took over shows that may not be entirely true. The Wall Street Journal looked at 77 businesses Bain invested in under Romney's...

Yahoo Attracts Many Suitors, Weak Offers

$20.6B price way down from 2008

(Newser) - The good news: There are plenty of suitors shopping for the 19.9% minority stake Yahoo is peddling. The bad news: Everybody's looking for a deal. A Microsoft-linked private equity group has put in a bid that values the onetime behemoth at $20.6 billion, reports the Guardian —...

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