The always yummy Abnormal Returns points out that I have, once again, been robbed. This time, however, Time (in partnership with CNN) stole my piece (poorly) after two others. Late to the game, folks. Additionally, this Justin Fox quote, taken from the Time piece, wins Going Private's 2007 Maxwell Smart Prize (awarded to the financial journalist issuing the most sweeping generalizations, possessed of the weakest grasp of finance and most the deficient command of economics). I'm confident awarding it this early in the year because it is pretty clear, even at this early date, that no one is going to get more qualified for the honor than this:
It does nicely underscore the basic truth of the private equity business, which is that without public markets on which to buy and sell companies, it couldn't exist.
Congratulations, Mr. Fox. The prize (a well worn and pungent shoe, owned by a man whose religious convictions forbade him to own socks and which the recipient is expected to use like a phone) can be accepted in London or forwarded by post provided the recipient compensates Going Private for shipping.