tiistai 30. kesäkuuta 2009

Davenport: Private Equity and the Ownership Decision

Tom Davenport kirjoittaa Harvard Business Blogissa kriittisesti Private Equitystä. Davenport kritisoi erityisesti Private Equity-yhtiöiden runsasta velankäyttöä, mikä on talouden taantumassa ajanut useita niiden omistamia yrityksiä vaikeuksiin.


Poimintoja Davenportilta:

"Private equity is in shambles now, and deservedly so. Deals are down 96% from their peak. The "industry" has run several pretty good companies into the ground, including Mervyn's, Linens 'n Things, Steve & Barry's, Station Casinos, and 66 of 105 bankruptcies in 2009"

"Which would you rather have; owners who load your company with debt and take away your water, or owners who give you gyms, on-site subsidized childcare, and a piano player at lunch? Granted, not all private owner/operators will act like Jim Goodnight, but it's hard to imagine private equity owners investing for the long haul and to keep employees productive and happy. Think about this decision before you sell your company to a PE firm — or work for one that's already been sold."

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