Word: steve
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...equity firms make, but the amount is reliably assumed to be humongous. And so what? Right? If he can turn, say, a $5 billion company into a $10 billion company a couple of years later, what's wrong with a few hundred million in the tip jar for Uncle Steve...
Well, one wrong thing is that Uncle Steve's 20% fee gets a huge tax break. It is considered a capital gain rather than ordinary income, so it is taxed at 15% rather than 35%. There is no conceivable justification for this loophole. No one who benefits from it could possibly need the money. Why hasn't some private-equity billionaire taken this up as a cause, the way Bill Gates' father has taken up preserving the estate tax? What about Pete Peterson--a co-founder of Blackstone and longtime Cassandra about the national debt...
...much worse behavior. I don't want to enable monsters. In fact, I don't want to interact with them. But neither do I want to work in an office staffed solely with smiley faces. Imagine American Idol without Simon, House without House, Family Guy without Stewie. Colleagues of Steve Jobs bear the scars, but wouldn't you prefer him on your team than theirs...
...Steve and I would pay very little attention to our classes and then furiously inhale the key books just before an exam,” Gates recalled in a 1995 autobiography. A member of the Fox Club, Gates has said he was as a loner at Harvard who rarely slept, “sitting around in my room being a philosophical depressed guy, trying to figure out what I was going to do with my life...
Conventional wisdom might ask: After being the class of the conference the past three season, why wouldn’t Penn be the favorite to win again? Three reasons—Steve Danley, Ibrahim Jaaber, and Mark Zoller. All three were starters on the past three league champions, the latter duo emerging as the top two players in the Ivies this past season. Unfortunately for the Quakers—but fortunately for everyone else in the league—those three have played their final basketball games in Penn uniforms...