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Private Equity Can Make Firms More Innovative

Harvard Business Review

If you ask someone who works in finance (as I had to) about PE and innovation, he or she will likely tell you that PE sponsors aren’t looking for the next big thing—they’re looking for companies that are dominant in a market, aren’t risky, and have a predictable and steady stream of cash to pay back debt.

LBO 8
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Why We Build Fiscal Cliffs

Harvard Business Review

The then-sainted Alan Greenspan had given them ample cover, by expressing concerns that surpluses might eventually kill the bond market. And there's the Budget Control Act of 2011. credit rating but no observable increase in interest rates. Plus, it turned out there was a recession in the works.