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Buyout Firms Profited as a Company's Debt Soared

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HOW TO DRAW BLOOD FROM A STONE
New York Times looks at how private equity firms were able to profit during the last credit boom, driving companies to take on more debt. The article's example is Simmons Bedding Copmpany, a 133-year-old firm based in Wisconsin. The company will soon file for bankruptcy protection, its bondholders alone likely to lose more than half a billion dollars. Meanwhile, "various private equity owners have made around $750 million in profits from Simmons over the years." Well done.
SOURCE:   New York Times

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