Download or read book Private Equity at Work written by Eileen Appelbaum and published by Russell Sage Foundation. This book was released on 2014-03-31 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
Download or read book Private Trust Companies written by Todd Mayo and published by . This book was released on 2020-08-12 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is a comprehensive resource for lawyers, accountants, family office executives and any others who advise ultra-wealthy families on private trust companies. Featuring chapters written by leading practitioners, it fully explores the legal, regulatory and practical dimensions of forming and operating a private trust company.
Download or read book Private Military and Security Companies written by Erika Calazans and published by Cambridge Scholars Publishing. This book was released on 2016-05-11 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book’s primary concern is the application of International Humanitarian Law and International Human Rights Law in addressing the business conduct of Private Military and Security Companies (PMSCs) during armed conflicts, as well as state responsibility for human rights violations and current attempts at international regulation. The book discusses four interconnected themes. First, it differentiates private contractors from mercenaries, presenting an historical overview of private violence. Second, it situates PMSCs’ employees under the legal status of civilian or combatant in accordance with the Third and Fourth Geneva Conventions of 1949. It then investigates the existing law on state responsibility and what sort of responsibility companies and their employees can face. Finally, the book explores current developments on regulation within the industry, on national, regional and international levels. These themes are connected by the argument that, in order to find gaps in the existing laws, it is necessary to establish what they are, what law is applicable and what further developments are needed.
Download or read book Valuation for M A written by Chris M. Mellen and published by John Wiley & Sons. This book was released on 2010-05-11 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the tools necessary to determine what your company's value is, what drives its value, and how to enhance that value during an M&A transaction. The only book to focus on valuation specifically for mergers and acquisitions, Valuation For M&A: Building Value in Private Companies, Second Edition lays out the steps for measuring and managing value creation in privately held businesses. This groundbreaking work led directly to authors Chris M. Mellen and Franck C. Evans being named the joint 2010 AM&AA Middle Market Thought Leader of the Year by the Alliance of Merger & Acquisition Advisors, and its thorough overview of the subject: Recognizes a company as an investment and explains how to manage that value to maximize shareholder returns, focusing on returns, risks, and capital invested Explains investment or strategic value versus fair market value and provides a document request checklist; sample interview questions; and formats for adjusting financial statements, developing discount rates, the computation of net cash flow; and a valuation reconciliation form Includes a comprehensive case study to illustrate concepts and calculations Now covers fair value accounting and the impact of SFAS Nos. 141, 142, and 157 and their IFRS counterparts, intangible asset valuation techniques, exit planning, international M&As, and venture backed/early stage companies Showing corporate executives as well as M&A professionals and business appraisers how to value privately-held businesses for merger and acquisition purposes, this book helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value to maximize return on investment.
Download or read book Private Capital for Private Companies written by Chris Kaine and published by Business Angels Pty Ltd. This book was released on 1998 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Private Military and Security Companies written by Thomas Jäger and published by Springer Science & Business Media. This book was released on 2009-04-23 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Private Sicherheits- und Militärunternehmen erleben seit den 1990er Jahren einen außerordentlichen Boom und sind derzeit eines der spannendsten Phänomene in den internationalen Beziehungen. Die Palette der von ihnen angebotenen Dienstleistungen ist groß. Sie reichen von logistischer Unterstützung über Aufklärung bis hin zu Kampfeinsätzen. Zu ihren Kunden zählen Regierungen, Wirtschaftsunternehmen, internationale Organisationen, NGOs, humanitäre Organisationen sowie Privatpersonen. Gegenwärtig lässt sich an den Auseinandersetzungen im Irak sowohl die Aktualität wie auch die Brisanz ihres Einsatzes illustrieren, gibt es doch Anzeichen dafür, dass Beschäftigte solcher Unternehmen u.a. in die Folterung von Gefangenen verwickelt sind. Die Beiträge des Sammelbandes aus der Feder nationaler wie internationaler Expertinnen und Experten beschreiben und analysieren verschiedene Typen von privaten Sicherheits- und Militärunternehmens, ihre Dienstleistungen und die Umstände, die ihren Boom befördert haben. Sie diskutieren die Vor- wie auch die Nachteile ihres Einsatzes und beschreiben Instrumente, die die Tätigkeit dieser Unternehmen stärker reglementieren und kontrollieren könnten.
Download or read book Mercenaries A Guide to Private Armies and Private Military Companies written by Alan Axelrod and published by CQ Press. This book was released on 2013-12-27 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mercenaries: A Guide to Private Armies and Private Military Companies provides a comprehensive survey and guide to the mercenary forces, entrepreneurs, and corporations that are a major component of warfare today. Security, military advice, training, logistics support, policing, technological expertise, intelligence, transportation—all are outsourced to a greater or lesser degree in the U.S. military—while countries as diverse as Saudi Arabia and Australia rely on privatization in one form or another. This comprehensive one-volume work covers the full range of mercenaries active on the international military scene today, including a concise history of mercenaries and private armies on land, sea, and in the air. Key Features Illuminating sidebars include biographies of major figures, key statistics, historical and current documents, contracts, and legislation on private armies and outsourced military services. Each chapter includes a bibliography of books, journal articles, and web sites. A general bibliography concludes the entire work. Mercenaries is a must-have reference for academic libraries, public libraries, and any social science, governmental, or non-governmental reference collection.
Download or read book Corporate Soldiers and International Security written by Christopher Kinsey and published by Routledge. This book was released on 2006-06-07 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book traces the history of private military companies, with a special focus on UK private forces. Christopher Kinsey examines the mercenary companies that filled the ranks of many European armies right up to the 1850s, the organizations that operated in Africa in the 1960s and early 1970s, the rise of legally established private military companies in the late 1970s and early 1980s, and today’s private and important actors in international security and post-conflict reconstruction. He shows how and why the change from the mercenary organizations of the 1960s and 1970s came about, as the increasing newness of private military companies came to be recognised. It then examines how PMCs have been able to impact upon international security. Finally, Kinsey looks at the type of problems and advantages that can arise for organizations that decide to use private military companies and how they can make an unique contribution to international security. Corporate Soldiers and International Security will be of great interest to all students of international politics, security studies and war studies.
Download or read book Entrepreneurial State written by Mariana Mazzucato and published by Anthem Press. This book was released on 2015 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of Tables and Figures; List of Acronyms; Acknowledgements; Introduction: Thinking Big Again; Chapter 1: From Crisis Ideology to the Division of Innovative Labour; Chapter 2: Technology, Innovation and Growth; Chapter 3: Risk-Taking State: From 'De-risking' to 'Bring It On!'; Chapter 4: The US Entrepreneurial State; Chapter 5: The State behind the iPhone; Chapter 6: Pushing vs. Nudging the Green Industrial Revolution; Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis; Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems; Chapter 9: So.
Download or read book Private Companies Should Receive More Consideration in Federal Mass Transit Programs Urban Mass Transportation Administration Department of Transportation written by United States. General Accounting Office and published by . This book was released on 1976 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Private Empire written by Steve Coll and published by Penguin. This book was released on 2012-05-01 with total page 654 pages. Available in PDF, EPUB and Kindle. Book excerpt: “ExxonMobil has met its match in Coll, an elegant writer and dogged reporter . . . extraordinary . . . monumental.” —The Washington Post “Fascinating . . . Private Empire is a book meticulously prepared as if for trial . . . a compelling and elucidatory work.” —Bloomberg From the Pulitzer Prize-winning and bestselling author of Ghost Wars and The Achilles Trap, an extraordinary exposé of Big Oil. Includes a profile of current Secretary of State and former chairman and chief executive of ExxonMobil, Rex Tillerson In this, the first hard-hitting examination of ExxonMobil—the largest and most powerful private corporation in the United States—Steve Coll reveals the true extent of its power. Private Empire pulls back the curtain, tracking the corporation’s recent history and its central role on the world stage, beginning with the Exxon Valdez accident in 1989 and leading to the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The action spans the globe—featuring kidnapping cases, civil wars, and high-stakes struggles at the Kremlin—and the narrative is driven by larger-than-life characters, including corporate legend Lee “Iron Ass” Raymond, ExxonMobil’s chief executive until 2005, and current chairman and chief executive Rex Tillerson, President-elect Donald Trump's nomination for Secretary of State. A penetrating, news-breaking study, Private Empire is a defining portrait of Big Oil in American politics and foreign policy.
Download or read book Valuation for M A written by Chris M. Mellen and published by John Wiley & Sons. This book was released on 2018-04-16 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determine a company's value, what drives it, and how to enhance value during a M&A Valuation for M&A lays out the steps for measuring and managing value creation in non-publicly traded entities, and helps investors, executives, and their advisors determine the optimum strategy to enhance both market value and strategic value and maximize return on investment. As a starting point in planning for a transaction, it is helpful to compute fair market value, which represents a “floor” value for the seller since it by definition represents a value agreed upon by any hypothetical willing and able buyer and seller. But for M&A, it is more important to compute investment value, which is the value of the target company to a strategic buyer (and which can vary with each prospective buyer). Prepare for the sale and acquisition of a firm Identify, quantify, and qualify the synergies that increase value to strategic buyers Get access to new chapters on fairness opinions and professional service firms Find a discussion of Roger Grabowski's writings on cost of capital, cross-border M&A, private cost of capital, intangible capital, and asset vs. stock transactions Inside, all the necessary tools you need to build and measure private company value is just a page away!
Download or read book Private Equity Funds written by James M. Schell and published by Law Journal Press. This book was released on 2023-08-28 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The best guide to private equity funds. Insight and explanations for both fund sponsors and investors. The gold standard." --Andrew Zalasin, General Partner and CFO: RRE Ventures Best Practices for Organizing and Managing a Fund With nearly $7 trillion invested in more than 20,000 funds, investor interest in the private equity industry has returned, despite the economic turmoil of recent years. Still, guidance about the organization and administration of these funds is tough to find. This 1,400+ page resource, will equip corporate lawyers, investment professionals, and tax practitioners and with best practices to manage these funds effectively. Private Equity Funds: Business Structure and Operations covers a wide range of important issues, such as: the key economic differences between various types of funds; structuring the private equity fund to meet economic expectations and investment goals; securing maximum tax benefits for the sponsor of the fund; duties of the fund's General Partner and Investment Advisor; the major regulatory issues affecting the private equity fund; and much more. Private Equity Funds: Business Structure and Operations reflects the aftermath of the financial crisis of 2007 to 2009. The authors also focus on cyber risk and the compliance obligations of investment advisers.
Download or read book Private Government written by Elizabeth Anderson and published by Princeton University Press. This book was released on 2019-04-30 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why our workplaces are authoritarian private governments—and why we can’t see it One in four American workers says their workplace is a “dictatorship.” Yet that number almost certainly would be higher if we recognized employers for what they are—private governments with sweeping authoritarian power over our lives. Many employers minutely regulate workers’ speech, clothing, and manners on the job, and employers often extend their authority to the off-duty lives of workers, who can be fired for their political speech, recreational activities, diet, and almost anything else employers care to govern. In this compelling book, Elizabeth Anderson examines why, despite all this, we continue to talk as if free markets make workers free, and she proposes a better way to think about the workplace, opening up space for discovering how workers can enjoy real freedom.
Download or read book The Accountant written by and published by . This book was released on 1913 with total page 1062 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Private Security Companies during the Iraq War written by Scott Fitzsimmons and published by Routledge. This book was released on 2015-07-16 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the use of deadly force by private security companies during the Iraq War. The work focuses on and compares the activities of the US companies Blackwater and Dyncorp. Despite sharing several important characteristics, such as working for the same client (the US State Department) during the same time period, the employees of Blackwater fired their weapons far more often, and killed and seriously injured far more people in Iraq than their counterparts in DynCorp. In order to explain this disparity, the book undertakes the most comprehensive analysis ever attempted on the use of violence by the employees of these firms. Based on extensive empirical research, it offers a credible explanation for this difference: Blackwater maintained a relatively bellicose military culture that placed strong emphasis on norms encouraging its personnel to exercise personal initiative, proactive use of force, and an exclusive approach to security, which, together, motivated its personnel to use violence quite freely against anyone they suspected of posing a threat. Specifically, Blackwater’s military culture motivated its personnel to fire upon suspected threats more quickly, at greater distances, and with a greater quantity of bullets, and to more readily abandon the people they shot at when compared to DynCorp’s personnel, who maintained a military culture that encouraged far less violent behaviour. Utilizing the Private Security Company Violent Incident Dataset (PSCVID), created by the author in 2012, the book draws upon data on hundreds of violent incidents involving private security personnel in Iraq to identify trends in the behaviour exhibited by the employees of different firms. Based on this rich and original empirical data, the book provides the definitive study of contemporary private security personnel in the Iraq War. This book will be of much interest to students of the Iraq War, Private Security Companies, Military Studies, War and Conflict Studies and IR in general.
Download or read book State Control over Private Military and Security Companies in Armed Conflict written by Hannah Tonkin and published by Cambridge University Press. This book was released on 2011-08-11 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past two decades have witnessed the rapid proliferation of private military and security companies (PMSCs) in armed conflicts around the world, with PMSCs participating in, for example, offensive combat, prisoner interrogation and the provision of advice and training. The extensive outsourcing of military and security activities has challenged conventional conceptions of the state as the primary holder of coercive power and raised concerns about the reduction in state control over the use of violence. Hannah Tonkin critically analyses the international obligations on three key states - the hiring state, the home state and the host state of a PMSC - and identifies the circumstances in which PMSC misconduct may give rise to state responsibility. This analysis will facilitate the assessment of state responsibility in cases of PMSC misconduct and set standards to guide states in developing their domestic laws and policies on private security.
