Jozef Imrich, name worthy of Kafka, has his finger on the pulse of any irony of interest and shares his findings to keep you in-the-know with the savviest trend setters and infomaniacs.
''I want to stay as close to the edge as I can without going over. Out on the edge you see all kinds of things you can't see from the center.''
Private equity: harnessing secrecy to fleece investors and taxpayers
The period between the fall of the Berlin Wall and the Great Recession saw probably the most profound reshuffle of individual incomes on the (Monsanto the toxic face of globalisation ) global scale since the Industrial Revolution Iron Curtain The widely-read U.S. financial blog nakedcapitalism (Naked Capitalism) is running a fascinating post about the private equity industry, which involves the release of a number of apparently sensitive documents. The article notes:
“For decades, private equity (PE) firms have asserted that limited partnership agreements (LPAs), the contracts between themselves and investors, should be treated in their entirety as trade secrets, and therefore not subject to disclosure under Freedom of Information Act laws in any jurisdiction. These private equity general partners argued that the information in their contracts was so sensitive that it needed to be shielded from competitors’ eyes, otherwise their unique, critically important know-how would be appropriated and used against them.”
Of course, there are cases when private equity firms also seek to inject business nouse into badly managed companies, but as this article describes, it’s not necessarily any more profitable to do so when you may be able to make a quicker buck by just buying, squeezing, flipping and then discarding the husk, moving onto the next target.
Naked Capitalism is running a series on this, and the documents are available on their site, for those who take an interest in this sort of thing.