So now CEO’s have to create value? How novel!
It was fascinating to read in this week’s Business Week that as easy money has evaporated in the world of private equity, that the CEO’s of these firms have to resort to the traditional practice of management – “making the companies they control more profitable” as the magazine says (November 5, 2007 issue, page 40). Astonishing. And perhaps gratifying, as we see evidence that the folks with purely financial know-how have come a cropper, to think that perhaps knowing how to actually run a company has value.
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