May 1, 2012 |
Asian-themed restauranteur P.F. Chang's China Bistro Inc. will go private for $1.1 billion in a deal with private equity firm Centerbridge Partners after attempting to refresh its image and offerings. The Scottsdale, Ariz., company, which operates its namesake upscale casual dining spots as well as fast-casual Pei Wei Asian Diners, has struggled to catch up to competitors who are now enjoying post-recession sales and traffic highs . Last month, it introduced a new lunch menu.
April 4, 2012 |
WASHINGTON — Trying to ward off a financial crisis like the one that shook the world in 2008, a powerful panel of federal regulators approved criteria for classifying which non-banking firms pose a risk to the entire financial system and are subject to tougher rules. The new financial regulations are aimed at large, previously unregulated insurance companies, such as bailed-out American International Group Inc., as well as hedge funds, private equity funds and other firms whose complicated securities and bad bets on mortgages created a credit crisis and helped deepen the recession.
April 2, 2012 |
A national ground beef processor owned by Los Angeles private equity firm Yucaipa Cos. and basketball Hall of Famer Magic Johnson filed a bankruptcy petition seeking protection from creditors, blaming, in part, bad publicity over products containing so-called pink slime. AFA Foods Inc. said it sought bankruptcy protection because it was "faced with an immediate and unanticipated liquidity crisis" and was unable to pay vendors last week without a loan, which banks refused to provide.
March 20, 2012 |
Are political centrists in America without a political home? Do we need a third-party presidential candidate to represent those socially progressive, fiscally austere voters who find our two parties too extreme? There's no disputing that the Republican Party continues to move rightward at warp speed. Virtually every GOP elected official who's been in office for more than a couple of years has had to repudiate previously mainstream Republican positions (such as creating a health insurance system with an individual mandate, an idea cooked up by a right-wing think tank)
March 10, 2012 |
Technology firm Quest Software Inc. has agreed to go private in a deal valued at $2 billion. The Aliso Viejo software company said Friday that it had agreed to be acquired by private equity firm Insight Venture Partners for $23 a share in cash, a 19% premium over its closing price Thursday. The announcement led to a surge in Quest's stock price, with shares rising $4.67, or 24%, to close Friday at $24.07, as some investors bought on the prospects of a bidding war for the company.
January 31, 2012 |
A Los Angeles private equity firm wants to drive off with Manny, Moe and Jack. Pep Boys, the iconic auto parts retailer that is synonymous with California's car culture, said Monday that it has agreed to sell itself to Los Angeles-based Gores Group in a deal worth nearly $800 million. Gores Group is paying $15 a share, a 24% premium over Pep Boys' closing price of $12.08 on Friday. The stock jumped $2.85 on Monday to $14.93. The deal has a provision in which Pep Boys can solicit higher bids until mid-March.
January 26, 2012 |
Some investments listed in Mitt and Ann Romney's 2010 tax returns - including a now-closed Swiss bank account and other funds located overseas - were not explicitly disclosed in the personal financial statement the GOP presidential hopeful filed in August as part of his White House bid. The Romney campaign described the discrepancies as “trivial” but acknowledged Thursday afternoon that they are undergoing an internal review of how the...
January 24, 2012 |
Politicians bickering over private equity's impact on jobs and how to bring down the high unemployment rate are entirely missing the point about the crisis facing working Americans. The predicament we face isn't simply that there are too few jobs; it's also that an increasing number of workers don't have the kind of job that can pay the bills. While productivity has grown by more than 80% over the last 30 years, wages have effectively been flat for 80% of Americans. So, although we're making stuff faster and more efficiently, the benefits of that hard work have not trickled into the pockets of the people who do it. Let's turn first to the intensifying debate over Mitt Romney's role as a private equity manager.
January 21, 2012 |
Conceding his loss in South Carolina -- where he finished a disappointing fourth place four years ago -- Mitt Romney told supporters in Columbia that the Republican race was “getting to be even more interesting” and that the competition was only making "our campaign better.” “We're now three contests into a long primary season,” he said. “This is a hard fight because there's so much worth fighting for. We've still got a long way to go and a lot more work to do. And tomorrow we are going to move on to Florida.
January 15, 2012
It had to be done Re "How far is too far on Iran?," Editorial, Jan. 12 The editorial regarding the car-bomb killing of an Iranian nuclear scientist comes across as rather sanctimonious. All but assuming that Israel's hand was at play, the editorial condemns the action as somehow unfitting. The Iranian regime has said Israel should be destroyed. Such a move by Iran could only be accomplished through a nuclear attack on Israel, which probably motivates Iran's unrelenting effort to develop such weapons.