Last year, a group of leading private equity firms formed a lobbying group named the Private Equity Council that is responsible for changing the public's perception of private equity. In December, the group announced the hiring of Doug Lowenstein, the founder and head of the Electronic Software Association, a group that represents the interests of the video game industry. However, based on the opinions of some in the video game industry, maybe the buyout guys did not choose wisely. Video game blogger Dennis McCauley of Joystiq had a number of harsh words to say about Lowenstein on his way out the door of the ESA. McCauley's biggest complaint was Lowenstein's failure to successfully address the public's misperception of the game industry, especially remaining silent when its leading detractor, attorney Jack Thompson, mugged for the media's cameras. If Lowenstein cowered or simply ignored the aggressive behavior of Thompson, then will he really go face-to-face with private equity's equally aggressive detractors?—Matthew Wurtzel
See post from Joystiq
See story from The Deal
Continue reading below
