http://www.milkeninstitute.com/events/gcprogram.taf?function=bio&EventID=GC08&SPID=3194
Michael Pollak wrote:
>
> This is kind of an appropriate topic on a list named for the original
> LBOs. (For those younger than 30: Leveraged Buy Outs, where public firms
> were taken private using lots of debt, were all the rage in the 1980s
> when the Left Business Observer first set up its stand).
>
> Smith thinks the new private equity versions of LBOs might turn out even
> worse than their junk-bond predecessors due to cov-lite agreements and
> the lack of DIP financing -- both of which he explains admirably by the
> end of his post:
>
> http://www.nakedcapitalism.com/2008/11/surprisingly-superficial-new-york-times.html
>
>
> Michael
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>
>