Excerpts: Cosmopolitan may be for sale on Las Vegas Strip The Blackstone Group LP, a major player in the Southern Nevada real estate market, has retained Deutsche Bank AG and PJT Partners, Inc. to explore strategic alternatives for the property, including a sale, according to sources familiar with the deal. Chad Beynon, an analyst with […]
Paul Taubman
Restructuring Watchlist: EFH Moves Off, In Largest Default
Excerpts: Restructuring Watchlist: EFH Moves Off, In Largest Default Energy Futures received S&P’s speculative-grade default rate in November, 2009, and was downgraded to SD on account of a distressed exchange. All this came in the wake of the $45B LBO of TXU, engineered by KKR, TPG, and GS — the largest LBO deal in history was
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Excerpts: Morgan Stanley Misses Deal Harmony With Colm Kelleher – Paul Taubman Clash Colm Kelleher and Paul J. Taubman, co-heads of Morgan Stanley’s biggest business, work on opposite sides of an ocean, disagree about strategy and share an enmity that has become the subject of company jokes. Neither Kelleher, 54, a gregarious former fixed-income salesman,
Morgan Stanley Property Fund Faces $5.4 Billion Loss
Excerpts: Morgan Stanley Property Fund Faces $5.4 Billion Loss Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss–$5.4 billion–in the history
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Excerpts: John Macks’s Letter to Shareholders
Excerpts: John Mack’s Letter to Shareholders dated February 1, 2006 We will take full advantage of our global scale and our world-class franchise by further integrating our businesses and putting more of our own capital to work in principal investments. We are employing more of our own equity capital to work in principal investing, both
Stacking the deck
Excerpts: Stacking the Deck Leo Hindery’s place at the centre of America’s cable and telecom industry over the past two decades has been obscured by men whose lives are really spent in the headlines—Rupert Murdoch, John Malone or AT&T’s Michael Armstrong. But this has given Mr. Hindery something that every author craves, an inside view
Excerpts: Morgan Stanley Realty touches real estate’s biggest deals In fact, Morgan Stanley & Co. has been involved in the real estate industry longer than any other Wall Street-based investment banking firm, some 25 years. Today, the Morgan Stanley Realty team is part of a global company with offices in London, Hong Kong, Tokyo, New