Words from the Wise: Gone Deal-making
This weekend my “daytime” job – executive chairman of Cape Town-based investment management firm, Plexus Asset Management – requires my undivided attention to put a very exciting deal to bed. The bad news for my readers is that time does not permit compiling an edition of “Words from the Wise” today.
It is not always easy to keep all the balls in the air, especially with increasing overseas travel, but the posts will still be forthcoming – perhaps just more slowly on occasion.
On the topic of deals, any private equity managers interested in hearing about attractive deals in South Africa and the rest of the African continent, please drop me a line as there are lucrative opportunities available in this neck of the woods.
In lieu of my weekly review, please feel free to post any interesting links or snippets from your reading in the comments section, i.e. a DIY round-up so as to speak.
I will leave you with two light-hearted items from the F&F debacle. Firstly, a musical parody of the Seal song “Kiss from a Rose”.
Source: YouTube, April 28, 2008.
And how about this: The Sun has tracked down a real-life Freddie Mac and Fannie Mae – and found they have been hit by the credit crunch.
“They share their names with the US home loan firms causing financial chaos around the world.
“Freddie Mackie – known as Freddie Mac – lives with his wife Carol in a two-bed terraced house in Glasgow. Amazingly, he is a mortgage broker. And he has had to take on a second job as a debt adviser to survive.
“Instead of 40 hours a week, he now works 60 to try to maintain his £25,000 a year pay.
“Dad-of-one Freddie, 56 said: ‘It is ridiculous. You work twice as hard just to stand still. There was no way I could afford to have my normal quality of life if I didn’t take another job.’
“Retired teacher Fannie MAY is trying to beat the crunch by going back to work as a rock singer. Fannie, 53, of Cambridge, quit school earlier this year to record an album after cutbacks saw her do more work for no pay rise.
“The widowed mum of one has a £400,000 mortgage and is worried house price falls could leave her in negative equity. She also invested in property but is now selling her five flats.
“She said: ‘I hoped the flats would give me a healthy pension but it’s an uncertain future.’”
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