The new edition of The Deal is all about breezes, gusts, gale force winds: No, we're not talking the market crisis. We're referring to a special report by our folks at Tech Confidential, edited by Alain Sherter, which drills deeply into the dealmaking possibilities of the emerging, if still immature, wind energy business. We look at selected venture capitalists, entrepreneurs, at the legal and regulatory challenges, at the opportunities -- or, in some cases, lack of opportunities -- for M&A. It's a cold, clear, fresh look at an burgeoning business.
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Wind may be a bit of a departure for The Deal, but David Carey's close examination of the Carlyle Group's buyout of Hawaiian Telcom Communications Inc. is meat and potatoes. Carey digs deeply into an LBO that looked like a sure winner on all fronts -- big returns for the sponsors, growth for the utility, more jobs for the locals. Instead, it's turned ugly, fueled by huge back-office problems, which has forced Carlyle to hire turnaround maestro Steve Cooper to come in and try to work his magic. It won't be easy.
Elsewhere in the issue, we turn once more to gloomier events. Ron Orol takes a close look at the Securities and Exchange Commission, which went missing during the Fed's big act with Bear Stearns Cos., and Jonathan Braude in London ponders the difficulties of coping with liquidity rumors like the ones that beset Bear and that threatened HBOS plc. Vipal Monga in Follow the Money again finds a ray of cheer in the recent decision by battered Citigroup Inc. to unload some leveraged loans, further freeing up the market and boosting its liquidity. In Media Maneuvers, Yvette Kantrow peers closely at The New York Times scoop on the renegotiated Bear deal -- where was The Wall Street Journal? -- and Richard Morgan in Backstory recounts the deal that seems to never get done from the perspective of Clear Channel Communications Inc.'s Mays family. And finally, Corporate Dealmaker's Kenneth Klee graces the weekly with a fascinating interview with AlixPartners' Jim Peters on how to use working capital. You want to play like the PE guys, master that working capital. - Robert Teitelman
Comments
I note the edition special report on wind energy.
Has The Deal ever done a focused review (or special report) of "water" - or any specific segments of these critical markets : purification, sanitation, etc?