$7 billion/Carlyle

[Michael Perelman]

Tim, I don't understand.  Didn't Carlucci get what he wanted?  The mere
appearance of the Crusader's success got Carlyle the big bucks, but now Rumsfeld
can appear not to be in the sway of Carlyle.  Only some investors may have
gotten burned.  Besides, now they can dump White without it being over Enron.

Tim Shorrock wrote:


> I guess the latest news with Carlyle's defense subsidiary UDI shows that
> Carlucci & gang are not all-powerful, despite Carlucci's lifelong friendship
> with Rumsfeld, his old Princeton pal. But hey its business. Carlyle decided
> on the Crusader IPO in the weeks after 9-11, knowing full well that defense
> stocks would go up. Since the IPO in December, Carlyle has sold most of its
> stock (last I checked they held 48%), reaping hundreds of millions of
> dollars for their coffers. That was when it looked like the Crusader would
> be funded.

--

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu