When Cheap Money Runs Out


	When Cheap Money Runs Out

Brett Nelson

12-3-2007 5:41 PM

1089 views

tags:

private equity

Brett Nelson says:

Funny finance conceit for Simon and Garfunkle fans.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/fdef8e7b-3202-4f03-8dce-b25d3f8589db/9C276288-99B1-4BAA-9523-C80D301CB9C1/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.slate.com/id/2178583/fr/flyout" href="http://www.slate.com/id/2178583/fr/flyout" style="font-size: 11px;">www.slate.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.slate.com/id/2178583/fr/flyout"><P>Private equity firms regard themselves not as asset-flipping gigolos but, rather, as sophisticated serial monogamists, always on the prowl for profitable long-term relationships. But their willingness to take a longer view is largely dependent on the supply of cheap money. When cash becomes more expensive and loans arrive with too many strings attached, a beautiful deal can transform overnight into an ugly hag. And so in recent months, as the effects of the credit crunch have rolled through the economy, private equity firms have balked at consummating high-profile deals. In 1975, Paul Simon identified "<A target="_blank" href="http://www.wbr.com/paulsimon/lyrics/50ways_to_leave.html">50 Ways To Leave Your Lover</A>." Today, buyout barons like Henry Kravis of <A target="_blank" href="http://www.kkr.com/">KKR</A> and Steve Schwarzman of the Blackstone Group are singing a different tune: There must be 50 ways to leave your private equity acquisition target. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9C276288-99B1-4BAA-9523-C80D301CB9C1/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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