Providence Equity Partners related stories
All articles and analysis
peHUB First Read* USA Today has an exhaustive list of private equity firm contributions to elected officials http://www.usatoday.com/money/perfi/funds/2009-08-27-pension-fund-donations-graphic_N.htm * Must-read for bosses: What alienates top performers http://blogs.harvardbusiness.org/demaio/2009/08/how-to-alienate-a-top-performe.html * Last week you were able to ask Tim Geithner a question via Digg. This week you can apparently ask Barney Frank a questions via Bravo TV's website http://www.politico.com/blogs/anneschroeder/ * Morning Call: U.S. futures point higher http://www.reuters.com/article/usMktRpt/idUSLS59488420090828 London rises on revised Q2 GDP http://www.reuters.com/article/londonMktRpt/idUSLS68076020090828 European shares advance http://www.reuters.com/article/eurMktRpt/idUSLS61552620090828 the Nikkei edges up http://www.reuters.com/article/tokyoMktRpt/idUST20808820090828 and Hong Kong shares drop http://www.reuters.com/article/hongkongMktRpt/idUSHKG32085020090828 * Jabil Systems is laying off more than 300 workers via a plant closure in Billerica, Mass., but is a case study in how to help ease the pain http://www.boston.com/business/articles/2009/08/28/easing_the_pain_of_a_shutdown/?p1=Well_MostPop_Emailed5 * Theo Francis: The FDIC's cushion is bigger than it looks http://www.businessweek.com/blogs/money_politics/archives/2009/08/why_fdics_shink.html * TechCrunch reports that an investor group is forming to make a bid for Skype http://www.techcrunch.com/2009/08/28/investor-group-makes-play-for-skype/ including original backer Index Ventures and newbie venture firm Andreessen Horowitz. The last time these rumors came up was back in April https://admin.venturecapitaljournal.com/36896/skype-founders-talk-to-pe-firms-about-buyback-from-ebay/ when Skype's co-founders reportedly teamed up http://blogs.wsj.com/deals/2009/04/13/kkr-warburg-providence-and-elevation-surface-in-skype-bid/ with firms like Warburg Pincus, KKR, Elevation Partners and Providence Equity Partners. eBay quickly nixed that talk by announcing plans for a Skype IPO in the first half of 2010, so we'll see how they respond this time (perhaps with an S-1?).
- peHUB Second Opinion 8.19
This Is Bad: The New York Times published a pretty unfavorable article about New York City Comptroller William C. Thompson Jr. The system has lagged in performance behind its peers even as the city tripled its money managers and fees paid. Meanwhile Thompson's campaign contributions have grown. "In some cases, the executives gave to Mr. Thompson just months before the pension funds hired them to manage tens of millions of dollars, according to interviews and public records," the article states. (NY Times http://www.nytimes.com/2009/08/19/nyregion/19pension.html?_r=1 ) Putting an End to the Speculation: Mark your calendars for August 26 to finally find out what's up with the FDIC's rules on PE investing in banks. That's when they're voting. (Reuters http://in.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idINWEN261420090819 ) Debate Club: Private Equity versus Venture Capital. BusinessWeek thinks private equity wins in times of economic trouble. (Bigger is better? Believing the "operational expertise" lie?) (BW http://www.businessweek.com/debateroom/archives/2009/08/private_equity.html ) And On The Other Side Of The Pond: Private equity firms are going back to investors for more money to fix ailing companies or to make acquisitions, opening a new round of tough talks as they struggle to recover from the credit crunch. (Reuters http://www.reuters.com/article/privateEquity/idUSLE35982420090819. ) The Travails of Journalists Turned Financiers: The crossover hasn't been pleasant for all. (DJ http://blogs.wsj.com/deals/2009/08/19/bad-news-bears-the-travails-of-journalists-turned-financiers/ )
- peHUB Wire: Wednesday, August 19, 2009
Random Ramblings
- peHUB Wire: Wednesday, August 19, 2009
Random Ramblings
- Stream Global Merging with eTelecare
Stream Global Services Inc. (AMEX: OOO) has agreed to merge with the parent company of eTelecare Global Solutions Inc. The stock-for-stock exchange would result in current Stream shareholders owning 57.5% of the combined call center company, and eTelecare shareholders holding 42.5 percent. eTelecare was taken private last December by Providence Equity Partners.
- peHUB Wire: Friday, August 14, 2009
Friday Feedback
- peHUB Wire: Friday, August 14, 2009
Friday Feedback
- Weekly Downgrade Wrap-up
As usual, we have a week's worth of ratings actions on LBO-backed companies from ratings agencies Standard & Poor's and Moody's Investor Services. It's the second light week in a row--last week /45565/weekly-downgrade-wrap-up-8/ S&P and Moody's only took a ratings action on one company. This week we have four. Company Station Casinos Inc. Sponsor: Colony Capital LLC Action: S&P lowered its issue-level rating on the business to ‘D' after it filed for Chapter 11 bankruptcy protection and revised its recovery rating on the company's senior unsecured notes to '5' from '4'. Moody's downgraded the company's probability of default rating to D from Ca and downgraded the ratings on the company's senior secured revolver and term loan were downgraded to Caa3 from B3. Highlights: From S&P: "This rating action follows our Feb. 4, 2009, research report in which we lowered our corporate credit rating on Station and our issue-level rating on its 6.5% senior subordinated notes to 'D' following th" Given the severe challenges faced by the gaming industry and by Station in particular, Moody's used a fundamental distressed EBITDA valuation (6 times multiple) to estimate loss-give-default rather than the 50% mean family recovery rate."