China Minzhong Food Corp., the vegetable processor targeted by Glaucus Research Group, said it “strongly” denied the allegations in the short-seller’s report, describing it as going beyond fair comment.
The tax regime that’s been the backbone of the Eurobond market since its inception 50 years ago is now threatened by the same regulatory overhaul driving corporate borrowers to issue bonds rather than take bank loans.
Leon Black ’s Apollo Global Management LLC is joining private-equity firms that have their own broker-dealers, relying in part on an investment bank built by his former boss at Drexel Burnham Lambert Inc.
In 1997, Josh Weston persuaded the founder of J. Crew Group Inc. to sell the company to TPG Capital. Now, he’s heading the special board committee that approved TPG’s offer to again buy the apparel retailer.
Carlyle Group LP, in a transaction nine months before it filed to go public, saddled itself with debt to pay owners including William Conway, Daniel D’Aniello and David Rubenstein a $398.5 million tax-deferred dividend.
The economic power that some in the financial community attain bothers many people deeply. It offends our ideal of a society that aspires to respect, appreciate and support everyone. The pursuit of power that often drives financial capitalism seems contrary to the concept that finance should be about the stewardship of society’s assets.