Word: bookings
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...Suck up companies with borrowed money, make them more efficient and then resell, turning a profit in the process. These days, nearly 1 in 10 nongovernmental employees works for a private equity-owned company, and that, says longtime industry reporter Josh Kosman, is a big problem. In his new book, The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis, Kosman argues that private-equity firms not only pillage the companies they buy, but also put the broader economy at risk by making those companies take on copious amounts of debt. TIME's Barbara Kiviat spoke...
...there anything we could do now to prevent this wave from coming? Probably not much. One of the main points of the book is to show how private equity and leveraged buyouts don't work, and even if the credit crisis I'm predicting doesn't happen - even if the economy recovers and some of the companies can refinance and push their debt off - the core practice is still destructive. Many of these companies will fall apart anyway. In the 1980s, when Michael Milken was funding buyouts, 52% of the biggest 25 companies acquired ended up going bankrupt...
...publication of On the Origin of Species, the landmark work in which Darwin laid forth his theory of natural selection. While celebrations have emphasized the British naturalist's giant role in the advancement of human progress, British political journalist Dennis Sewell is not convinced. In a new book, The Political Gene: How Darwin's Ideas Changed Politics, he highlights how often - and how easily - Darwin's big idea has been harnessed for sinister political ends. According to Sewell, evolution is scientifically undeniable, but its contribution to human well-being is unclear...
...derived solely from long-term U.S. data. But the excellent historical returns of stocks are not limited to the U.S. Three U.K. economists - Elroy Dimson, Paul Marsh and Mike Staunton - have examined the historical stock and bond returns from 16 countries since 1901 and published their research in a book entitled Triumph of the Optimists: 101 Years of Global Investment Returns. Despite wars, bouts of hyperinflation and depressions, stock investors in all 16 countries examined enjoyed high returns that outpaced fixed-income assets...
...member of the Election Commission makes a statement. The girl starts by presenting a Justice book. She's asking for backup from Kant and Aristotle? We don't really know what's she's talking about. She seems to be saying something about justice in the student election process...