Worldwide Grinding Systems steel
May 22, 2012
Private Equity Ain’t No Reform Movement
New York Times columnist David Brooks, defending Mitt Romney against a new Romney-bashing ad from President Obama’s re-election campaign, describes private equity as a “reform movement”: "Forty years ago, corporate America was bloated, sluggish and losing ground to competitors in Japan and beyond. But then something astonishing happened. Financiers, private equity firms and bare-knuckled corporate executives initiated a series of reforms and transformations. The process was brutal and involved streamlining and layoffs.
