Monday, December 01, 2008

Vulture Capitalists

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I was reading an article about the end of Mervyn's today. I think it was in Business Week.
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Having been fortunate enough to get to see small business owners in action, one paragraph of the article really struck home. I have added the emphasis.
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"Mervyns' collapse reveals dangerous flaws in the private equity playbook. It shows how investors with risky business plans, unrealistic financial assumptions, and competing agendas can deliver a death blow to companies that otherwise could have survived.
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And it offers a glimpse into the human suffering wrought by owners looking to turn a quick profit above all else."
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