Word: buyouts
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...vice president of corporate communications and investor relations at gamemaker 3DO.After that, she served as vice president of marketing and investor relations at search pioneer Inktomi, acquired by Yahoo. At Inktomi, Daver helped build the company's marketing group, brand identity, and guided the company's public offering and buyout...
...bargain considering what he made for the shareholders. In a disastrous year, there were, as the annual reports say, a number of factors. If top executives mess up so badly that they have to be canned, they get paid for that too. (F. Ross Johnson, who botched the leveraged buyout of RJR-Nabisco badly enough to lose the entire company, was handed $53 million on his way out the door.) Top executives of major corporations are the only Americans who do business in a totally risk-free environment...
...commodities markets that Refco had dominated were holding up well last week. But there will be plenty of fallout elsewhere. A source close to Refco's largest shareholder, buyout kingpin Thomas Lee, says Lee figures his remaining Refco stake is worthless. Lee recouped $175 million in the Refco IPO. But he had invested $507 million for 57% of Refco in 2004, using funds from dozens of public and private pension systems, including California Public Employees' Retirement System, Pennsylvania State Employees' Retirement System, General Motors and Verizon. As a Refco insider (several Lee executives are on the Refco board...
...Wind buyout has some investors puzzled because it runs counter to Sawiris' strategy of investing in underserved Middle Eastern markets. Wind, with 12 million subscribers, is Italy's third largest mobile-phone service, but it has never made a profit. Moreover, given Sawiris' focus on bringing phone service to developing countries, it's hard to see the attraction of Italy, a wealthy nation saturated with telefonini. That's one reason Sawiris is investing his own money, not Orascom's. "It doesn't fit," he acknowledges--at least not for now. Yet Sawiris can point to his record of success...
...which it acquired and quickly took public again in the U.S., that it has drawn the ire of a New York City--based hedge fund, Paulson & Co., which alleges that the initial deal wasn't fairly valued. And some private-equity firms are starting to fret that the European buyout scene has grown so fast that it's in danger of overheating. "It's like a perfect storm," says Carlyle's Millet, who is worried about the increased amounts of debt and dwindling returns. "All the ingredients are there for a big blowup...