If you’re wondering what all the fuss is about concerning Private-Equity takeovers of blue-chip companies, here is an excellent explanatory article by Irwin Stelzer in the British Sunday Times. He takes a broadly favourable view of the venture capitalists and what he sees as their contribution to the economy. [Private Equity]

The nub of the problem?

The controversy began, in part, because company executives, unconstrained by the dispersed and therefore relatively powerless company owners (also known as shareholders), persuaded many supine boards of directors to award compensation bearing little relationship to performance.

So, all is forgiven, then?