What he said.
Well, up to a point. There are lots of private equity firms that invest in growing companies in need of capital, experience and contacts; and others that turnaround businesses that would otherwise fail - and they have my full respect. I know lots of guys in that line of business, and they work hard and get a buzz out of transforming businesses.
But these days "private equity" has become shorthand for the LBO merchants - who fall into three categories: merchant bankers (ugh), asset strippers (ugh) and megalomaniacs (ugh). Them, you can keep - read John Caddell at the above link for a fairly reasoned attack on them and their actions.
About Me
- Richard Young
- I've been writing about business since 1996, when I joined BusinessAge as a staff writer. After VNU bailed on the magazine, I spent 18 months - from launch to closure - as business editor on Business Computer World. I then became deputy editor at Financial Director magazine. When editor Andy Sawers was seconded to a web project, I was acting editor for six months. That resulted in me being headhunted by Caspian Publishing in 2000 to launch Real Finance magazine, also a title aimed at FDs. Since 2006 I've been a freelance writer and editor working with mags andh a number of companies on their comms. I also chair seminars and conferences for the business community and run training courses on better business writing. For three days a week I'm also the strategic editor for seven ICAEW Faculty magazines at their contract publisher PCP. These are aimed at accountants with specialisms in tax, audit, IT, financial services, corporate finance, management and reporting - so my beat remains as broad as ever.
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