There is no equity in Private Equity

ICARUS COMES HOME

Turns out that you were the "exit strategy":



I can remember the excitement of this issue, when it IPOed, the hype. Months later, some poor soul was still glowing, gushing prose about "private equity". I didn't have the heart to tell him that he was not ... the smartest person in the room, on that.

Now, the company is making losses, paying dividends, being crimped by limited access to debt-financing by some reports and deals-gone-bad, and has indicated that management compensation is so high that they will be reporting "GAAP losses" for at least five years.

Still, I ought not be smug. It's not like I warned anyone aloud.

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