peHUB Second Opinion 6.19
Happy Weekend! Keep On Rockin' Through The Layoffs: A cover band comprised of several laid off Credit Suisse bankers is "kept together by the music." Aged Inventory, the band's name, refers to a bond that sits in a trading book for more than 60 days. (Bloomberg) Private Equity Should Stay Away From Showbiz: Providence Equity Partners' MGM stake and Goldman Sachs' investment in the Weinstein Co. are reminders that betting on movies is a treacherous business. (BW) BDC Mess: American Capital's shares surged yesterday, and LBOWire isn't sure why. I suspect it had something to do with a rumour floating around about a "secret" meeting between the company and its lenders. There was little further info on the situation, but people will trade on anything. (LBOWire) Walking The Walk: Despite years of touting "operational expertise," it appears that buyout firms are finally walking that walk. (CNBC) From Phys. Ed. to PE: An interview with Adam Dudley of Grace Capital, which is seeking another partner. (Venture Hype) Why The OTS elimination shouldn't cause many tears: Fortune Swallows the Banks' Baloney (Columbia Journalism Review)
