Private Equity at Work: When Wall Street Manages Main Street
| Author | : | |
| Rating | : | 4.40 (709 Votes) |
| Asin | : | 0871540398 |
| Format Type | : | paperback |
| Number of Pages | : | 396 Pages |
| Publish Date | : | 2013-07-03 |
| Language | : | English |
DESCRIPTION:
In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers.Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. And since 2000, nearly 11,500 companiesreprese
Private Equity Firms: Angels or Sharks? Eileen Appelbaum and Rosemary Batt show with much conviction how much influence private equity (PE) firms have acquired through their ownership and control of Main Street companies across the US economy. Ms. Appelbaum and Ms. Batt also cover PE firms operating abroad whenever appropriate for the understanding of their examination of PE.To their credit, Ms. Appelbaum and Ms. Batt don't characterize all PE firms as uniformly harmful to the acquired co. "a bit dry but the Kindle edition is good value" according to Brian Probert. Applebaum and Batt begin with a success story – a private equity (PE) group buys a specialist sausage maker, expands the workforce from 1a bit dry but the Kindle edition is good value Brian Probert Applebaum and Batt begin with a success story – a private equity (PE) group buys a specialist sausage maker, expands the workforce from 140 to 350 in three years and resells the company to a major foods group. However, once you read beyond the first paragraph the message is less positive and the majority of the book will be a depressing read if you are an employee of a PE-owned company (i.e. a portfolio company).A private equity firm is contro. 0 to a bit dry but the Kindle edition is good value Applebaum and Batt begin with a success story – a private equity (PE) group buys a specialist sausage maker, expands the workforce from 1a bit dry but the Kindle edition is good value Brian Probert Applebaum and Batt begin with a success story – a private equity (PE) group buys a specialist sausage maker, expands the workforce from 140 to 350 in three years and resells the company to a major foods group. However, once you read beyond the first paragraph the message is less positive and the majority of the book will be a depressing read if you are an employee of a PE-owned company (i.e. a portfolio company).A private equity firm is contro. 0 to 350 in three years and resells the company to a major foods group. However, once you read beyond the first paragraph the message is less positive and the majority of the book will be a depressing read if you are an employee of a PE-owned company (i.e. a portfolio company).A private equity firm is contro. 50 in three years and resells the company to a major foods group. However, once you read beyond the first paragraph the message is less positive and the majority of the book will be a depressing read if you are an employee of a PE-owned company (i.e. a portfolio company).A private equity firm is contro. eco-liberal said Cogent, engaging analysis. I am twenty per cent through the Kindle version and am very impressed with the clarity of the ideas presented. It is apparent to me that PE is a means of using debt and its favorable tax treatment to leverage economic equity out of companies taken private while externalizing costs onto company employees and taxpayers. There is no benefit to society and only costs, all to benefit the PE partners. The PE paradigm is yet another example of unregulated,
and Visiting Professor in the Management Department, University of Leicester, UK.ROSEMARY BATT is the Alice Hanson Cook Professor of Women and Work at the Industrial and Labor Relations School, Cornell University.. EILEEN APPELBAUM is senior economist at the Center for Economic and Policy Research, Washington, D.C
A dense but accessible look at a little-understood sector of the financial markets. Finally, Appelbaum and Batt recommend changes in public policy to reduce incentives that overburden companies with debt and to promote greater transparency in such deals. From Booklist Deregulation of the financial markets and investor thirst for higher profits have given an enormous boost to private equity financiers. They buy companies, issue huge debt, and reconfigure or dismantle them for profitable returns, sometimes at the expense of workers, suppliers, customers, and creditors. Economic scholars Appelbaum and Batt shine some light on the shadowy world of private e