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...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...

Author: /time Magazine | Title: Will Private Equity Be the Next Meltdown? | 11/24/2009 | See Source »

...title, Georgia put this year's act through four months of training and arrived in Kiev with an entourage of 21 people, including two vocal coaches, a stage producer, a choreographer and a psychologist. Maia Baratashvili, head of Georgia's delegation, sees Junior Eurovision not as a mere variety show, but as a glimpse into the region's collective psyche. "The West is leading today, so the countries of the former Soviet Union want to see themselves as a part of Europe," she says. "We can compete. We have a talent, and we also have an aspiration." (Read...

Author: /time Magazine | Title: Junior Eurovision: Schoolyard Crushes with Glitter | 11/23/2009 | See Source »

...seriously. Very seriously. Eastern European nations have won four out of the past five competitions, which isn't particularly hard when the vast majority of the performers come from that part of the world. Steve De Coninck-De Boeck, the founder of Belgium's Junior Eurovision program, believes the show is a barometer of the east's promise. "A lot of people don't see the evolution in Eastern Europe," he says. "When you're within Junior Eurovision, you see it every year. Their self-confidence is growing. They're becoming richer. And they usually do a better job than...

Author: /time Magazine | Title: Junior Eurovision: Schoolyard Crushes with Glitter | 11/23/2009 | See Source »

...weeklong competition to select the country's finalist, politicians have tapped into that symbolism, too. Earlier this month, Prime Minister Yulia Tymoshenko banned all public gatherings for several weeks, supposedly to slow the spread of swine flu. But when it came to Junior Eurovision, she decided that the show had to go on - if only so she could be photographed with the children ahead of January's presidential election. During the final on Saturday night, Tymoshenko took to the stage to thank all of the children for putting on "a beautiful festival in Ukraine." Not to be outdone, her rival...

Author: /time Magazine | Title: Junior Eurovision: Schoolyard Crushes with Glitter | 11/23/2009 | See Source »

...countries have such a healthy appetite for it all. In 2004, after 10-year old María Isabel of Spain won with her ode to materialism called, I'd Rather Be Dead Than Plain, French broadcasters dismissed the show as "vulgar" and withdrew from all future contests. In 2006, Denmark and Norway followed suit, claiming that the high-profile event puts too much pressure on young children. With that in mind, the producers of the competition have taken steps to let children be children - and slow their maturation into the scantily clad stars common in the adult version...

Author: /time Magazine | Title: Junior Eurovision: Schoolyard Crushes with Glitter | 11/23/2009 | See Source »

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