Word: firming
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...June 22, shares in the private-equity firm Blackstone Group began trading publicly on the New York Stock Exchange. By late afternoon, CEO Stephen Schwarzman's 23% stake in the firm he co-founded was worth almost $9 billion; he also pocketed $700 million cash from the deal...
...tort lawyers. In many states, every link in the chain that brings an unreasonably dangerous product to the U.S. is potentially liable for the damage it causes. "It's not a defense to say, I was just a distributor," says Jonathan Bunge, a partner at the law firm Kirkland & Ellis in Chicago. Foreign Tire Sales, the company that imported the recalled tires from Hangzhou Zhongce Rubber, is named in a lawsuit over a fatal crash involving the tires...
...aren't serious cyclers. "People have epiphanies on our trips all the time--climbing a hill they thought they couldn't or going farther than they thought they could," says Gray. B&R clients are mostly 45-plus, and she says they are far better riders today than the firm's clients were 10 years ago. "Boomers are different," she says. "They want more from their vacation than a hangover...
...Since then they have fallen below their IPO price, while public shares in Fortress Investment Group, a firm that specializes in hedge funds, are down 28% since the close of trading on their February 9 debut. Granted, that's a short-term, backward-looking view?never the best way to size up a potential investment. Yet as other shops like Kohlberg Kravis Roberts, Carlyle Group, Apollo Group, and British hedge fund manager GLG Partners toy with listing public shares, it's worth taking a critical look at the broader, ongoing forces impacting these stocks...
...private equity business model - buying existing companies and then spending years fixing them up before reselling and realizing gains - but it also makes it next to impossible to model future earnings and thus come up with a fair stock price, says Brian Hamilton, CEO of Sageworks, a financial analysis firm that specializes in private companies going public...