Josh Lerner, a Harvard Business School professor who has written about efforts to boost entrepreneurship, says cash on companies' balance sheets can free them to pursue innovation. Lerner talks with Bloomberg's Tom Keene and Sara Eisen on Bloomberg Radio's "Bloomberg Surveillance."
Racks of lime-green batteries awaited inspection on the factory floor when the well-connected investor swept through Smith Electric Vehicles in Kansas City, Missouri, last month. A week later he broke ground on an advanced vehicle battery plant in Holland, Michigan, the ninth battery facility his money has helped jump-start in the last year.
Blackstone Group LP, Carlyle Group and other buyout firms have already reaped a $425 million windfall this year after companies they own refinanced debt in the biggest loan market rally since the 2008 financial crisis.
As National University of Singapore students drifted to the college bar for Wednesday’s “Ladies Night,” Ishan Agrawal sat in his dorm’s common room, working out how to harness the Internet to fight corruption in India.
Pacific Investment Management Co. has abandoned an effort to oversee money for endowments and foundations that would have used some outside managers, according to four people familiar with the decision.