When I was a CEO, I thought I understood private equity. I didn’t. And what I’ve learned since my retirement, and since becoming directly involved in the world of private equity, points the way to a new career path for thousands of talented senior executives – and a new engine for value creation.
America should be about owning a piece of the rock, about letting every worker have equity and share in the returns to capital.
While I was at NYU, I did a play at The Public called ‘The Forbidden City,’ where I went in as an understudy and got my Equity card.
If you can’t afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can’t afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled.
Our combination of great research universities, a pro-risk business culture, deep pools of innovation-seeking equity capital and reliable business and contract law is unprecedented and unparalleled in the world.
The restructuring theme can be of various kinds. Some amount of debt gets serviced out of cash flows, some gets back-ended and resolved with sale of non-core assets of the company, and some debt gets converted into equity which might today look like a haircut.
When I started out as an equity analyst, we had no securitization data. We relied on company data.
Market discipline can only limit moral hazard to the extent that debt and equity holders believe that, in the event of distress, they will bear costs.
People used to think that private equity was basically just a compensation scheme, but it is much more about making companies more efficient.
On average, it takes as much as $100 million in paid media for a brand to be a household name in America. Marketing partnerships are the best form of off-balance sheet financing one can ever find. Smart startups use this technique to scale their companies and build their brand equity.
The average mutual fund holding period for equity or fixed income is only about three years. It’s too short.
Private equity firms working closely with venture capitalists and technologists may be able to unlock assets that others have not leveraged and build technology cultures to iterate on solutions that make these assets more productive.
As president of the International Brotherhood of Teamsters, I have seen private equity firms plunder company after company, taking rich fees for themselves and cutting costs until there’s nothing left to cut. Time and again I’ve seen their reckless behavior drive companies to declare bankruptcy.
In any architecture, there is an equity between the pragmatic function and the symbolic function.
I am unapologetic about the need for social change, greater inclusion, and equity.
Globalization has much potential. It could be the answer to many of the world’s seemingly intractable problems. But this requires strong democratic foundations based on a political will to ensure equity and justice.
Time’s Up is really about safety and equity in workplaces, and that’s a very multi-layered demand.
As our region and neighbors face unprecedented challenges and impacts amid the Covid-19 crisis and the call for racial equity, our support of United Way and its work is more critical than ever.
I delivered lectures, and I was also a consultant for international companies in finance, both private equity and big venture capital funds.
As a supporter of secularism, I am willing to accept same-sex weddings in a state-sanctioned register office, on grounds of equity. As a believer in Islam, however, I insist that no mosque be forced to hold one against its wishes.
We believe that either our own teams or teams that we direct are best capable of creating ‘Mario’ games that will live up to the franchise. The same is true for ‘Metroid’ and ‘Zelda’ and all those wonderful properties. For us, we want to control those characters as a key corporate equity.
As a CEO, I had significant exposure to private equity, enough that I had in no way bought into the media’s caricature: rapacious privateers who destroy companies.
It’s pretty shocking that the guys in Europe who cover traditional media will cover Google, whereas in the U.S., there are five different equity analysts that will cover the internet universe.
We don’t understand the equity market well, and so we deploy funds in fixed-income securities, and like any other securities, investment in those securities also need to follow the mark-to-market accounting principle.
I will say that equity overall is an important issue and one we are constantly looking at. In a perfect world, the entertainment and media industry and the content on our screens would reflect the true American scene.
There are a limited number of letters in the alphabet. AFL? Nope, taken. BFL? Eh, doesn’t sound very good. CFL? Taken. DFL? What’s the D stand for?… They went all the way down the list, slept on it for a couple of days, came back – and, long story short, they said the XFL still has some brand equity.
I think good private equity investors create a lot more economic value than they destroy.
I was always a secretary in the early days, before we decided we were brave enough to join Equity and see if this thing has any legs.
Equity everywhere is worth fighting for.
I’m someone very interested in diversity, equity, social justice, and getting rid of white supremacy.
The basic idea of retirement income is, to me, to get a check, two checks every month, one from your fixed income and one from equity account. And you want them to grow over time.
If we don’t figure out a way to create equity, real equity, of opportunity and access, to good schools, housing, health care, and decent paying jobs, we’re not going to survive as a productive and healthy society.
Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.
Pay equity matters because those dollars add up over time.
Private equity firms aren’t necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.
Most startup entrepreneurs unnecessarily spend half their time and give up half their equity in search of funding from angel investors and venture capitalists. Tens of millions of dollars are available to them for free from partners who not only don’t want their equity, they don’t even want to be paid back.
From his lifetime of experience as a turnaround expert in private equity to his experience with the turnaround mission of the Olympics to his successful term as a blue state GOP governor, Romney can point to a record of bipartisan leadership and achievement that Obama can only talk about.
My goal is not to overtake Tinder or compete with Tinder. To be fully honest with you, I think Tinder is a great product. It’s still my baby at the end of the day. So I wish it continued success. I still have equity in Tinder.
In fact, I argue that the future of advertising, whatever the technology, will be to associate each brand with one word. This is one word equity. It’s the modern equivalent of having the best site on the high street, except the location is in the mind.
When you’re a writer, there is a selflessness that has to happen; you have to have equity with how you treat each of the characters and the information you bring into the room.
STG is a combination of a holding company and a private equity model.
A good default, like Portugal or Greece, would be very good for the private equity business.
My older son works in finance and private equity, which he loves, and Lucas works in film and theater.
It’s important that we educate Americans about how hedge funds and private equity play completely different roles.
If achieving the Hong Kong dream becomes a vanishing hope, then our society will suffer. What would the Hong Kong dream be? It’s no different from the American dream, whereby an everyday man on the street who works hard would be able to make good savings and use those savings as equity for their future small business.
Venus Williams is a multi-millionaire not in spite of the fact that she is a woman, but precisely because she’s a woman. She receives much higher pay than an equally skilled man. Isn’t that precisely the opposite of what is meant by pay equity?
David Hayman gave me my Equity card and my first job out of drama school – the first person I really looked up to professionally.
Equity and economic justice are now hardwired into all of our climate policies.
Until we address the pervasive structural and interpersonal threats facing communities of color, we will remain unequipped to make equity a reality.
The basic dream of many Colombians is to have a secure nation, without exclusions, with equity, and without hatred.
The first job I got was a production of ‘Fame – the Musical,’ at the North Shore Music Theatre in Beverly, Massachusetts, and it got me my Equity card, too. I waited 12 hours to be seen for it, though!
I got my Equity card from an audition out of Backstage. We did ‘Guys and Dolls’ and ‘Kismet.’
One thing is that you won’t get climate action without equity, and Greens around the world have always understood this. This has been the dividing point between the green party of France and Emmanuel Macron: You can’t get climate policy without equity.
