Comments for JOSH KOSMAN

Comment on The Lack of Private Equity Growth Story by bob kranz

bob kranz — Mon, 03 Oct 2011 00:22:50 +0000

I truly believe that the information about Romney/Bain Capital and the companies that he helped starve/destroy (as well as the jobs lost ) should be a major campaign issue. Every other Republican candidate should be presented with the information and their feet should be held to the fire if they do not use the info. Smugness is not a virtue and Romney keeps “suggesting” how much business experience he has. This is not the kind of of business person we need leading this country.

I am not affiliated with any of the other presidential candidates and would really appreciate any info you wish to share directly. Really enjoyed the “Buyout” even though it kept me awake many nights.

Comment on SHARE YOUR EXPERIENCE by Relieved Vertis employee

Relieved Vertis employee — Sat, 20 Nov 2010 02:25:50 +0000

I have been an employee of Vertis (Chalfont, Pa
) for over 20 years now. In 1999 Thomas Lee co. bought out vertis and layed them with a 1.5 billion dollar loan to pay off , Well vertis hung in as long as they could but finally in 2008 merged with Color Grapics in a chapter 11 bankrupty, where Avenue Capital took over and at the momment are in a refinacing to clear up more debt.( of course Avenue Capital will collect on the huge fees ).
Well there is some good news , on November 18, 2010 a majority of the appr. 400 employees voted to become members of the Teamsters Union. ( District Council 9 ) We will finally have a voice over benefits , wages , and working conditions!!

Comment on SHARE YOUR EXPERIENCE by Explaining Clear Channel

Explaining Clear Channel — Tue, 05 Oct 2010 03:18:13 +0000

I bought several copies of your book. A few of them went to friends who work at Clear Channel and now understand what has happened to their company and what the future holds there.
I also highly recommend http://www.paypalfreeze.squarespace.com which covers Bain Cap and its involvement in eBay-Paypal and many other companies and reveals just how they do business.

Comment on SHARE YOUR EXPERIENCE by PE Employee

PE Employee — Tue, 26 Jan 2010 00:59:37 +0000

My colleagues and I spent over a decade building a highly successful software firm. In less than 4 years of ownership by a PE consortium including KKR, Bain, Blackstone, TPG and others, we will never be the same. Once loyal customers are so mad they are leaving and we are powerless to stop it as 50% margins are the norm. Positions have been slashed or sent to India irrespective of skills or true capacity. We will be one of the lucky ones to survive w/o bankruptcy; but we are crippled and cannot get back lost time. Thank you so much for the book and for dedicating it to millions of PE employees; we appreciate it !

Comment on SHARE YOUR EXPERIENCE by First Data Employee

First Data Employee — Sun, 24 Jan 2010 20:54:55 +0000

I am an employee of First Data purchased by KKR in September 2007. Reading your book was like watching my own autopsy, but I couldn’t look away. I recognized the dangers of the buyout and began educating myself on KKR’s method of operation. At the time I was only worried about myself and my fellow employees. Now I realizee the entire world’s economy is treatened. Thank you Josh for writting this book. I will encorage everyone I know to read it.

Comment on SHARE YOUR EXPERIENCE by Euro Exec

Euro Exec — Thu, 24 Dec 2009 20:57:52 +0000

I had worked many years for US-style private equity ‘managed’ companies in Europe. An experience which proved very beneficial. Now, I know how not to run a company or better how to ruin a company.

I read through your book in one single night! I can only stress that the situation in Europe is even worse than what you describe in your book as situation in the USA.

We will see a lot more value destroyed by the looming PE-debt crisis than we ever thought possible by the current financial crisis. The perverse thing is that the PE companies will be able to buy out their way of the crisis once again by gobbling up the loans on the ultra-cheap. PE in its current state should be outlawed at once.

Comment on SHARE YOUR EXPERIENCE by Frustrated Clear Channel employee

Frustrated Clear Channel employee — Mon, 14 Dec 2009 00:05:00 +0000

PE Thomas H Lee and Bain Capital purchased Clear Channel Communications in July 2008 for $26 Billion. Its been 18months, they have cut staff, consolidated business office operations, consolidated National Sales to one office, therefore cutting the cost of sale by eliminating local National sales teams. Your book said the third year is the worst cuts for PE firms. I don’t see much more to cut in my office. There is no cash leaving the office except in the form of payroll.
We were notified by email Friday that they were taking millions in loans from the Outdoor division of the company to pay down debt coming due in the radio division. Your book has opened my eyes to who the owners of my company are and what the future holds for the business.
It used to be fun, great people, good money, not anymore. The writing is on the wall. It’s unfortunate most people I work with don’t have a clue.