About this product: An authoritative exposé of the mysterious and potentially dangerous world of private equity
Few people realize that the top private equity firms, such as Blackstone Group, Carlyle Group, and Kohlberg Kravis Roberts, have become the nation's largest employers through the businesses they own. Using leveraged buyouts that load their acquired companies with loans, private equity firms have generated more than $1 trillion in new debt-which will come due just when these businesses are least likely to be able to pay it off.
Journalist Josh Kosman explores private equity's explosive growth and shows how its barons wring profits at the expense of the long-term health of their companies. He argues that excessive debt and mismanagement will likely trigger another economic meltdown within the next five years, wiping out up to two million jobs.
He also explores the links between the private equity elite and Washington power players, who have helped them escape government scrutiny. The result is a timely book with an important warning for us all.
The Only Official Guide to the #1 Personal Finance Software
Manage your finances and assets with ease! Quicken 2010: The Official Guide is packed with insider tips and expert techniques for tracking your income, expenses, savings, transactions, investments, and so much more.
Fully endorsed by Intuit, makers of Quicken, this official guide saves you time and money by showing you how to maximize all of the software's powerful capabilities--including new features and hidden gems. You'll get valuable guidance along with information about online resources to help you make strategic financial decisions and plan for a secure future.
Customize Quicken for your preferences
Track your cash flow
Set up Online Account Services
Automate transactions and tasks
Reconcile checking, savings, and credit cards accounts
Track investments and optimize your portfolio
Monitor assets and loans
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Reduce debt, save money, and plan for retirement
Simplify tax preparation and maximize deductions
Maria Langer is a freelance writer, helicopter pilot, and long-time Quicken user. A former financial analyst with a degree in accounting, she is the bestselling author of the previous editions of this book.
About this product: In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Due to the fast-paced nature of this world, however, no one has been able to take the time to properly codify the lifeblood of the corporate financierâs workânamely, valuation. Rosenbaum and Pearl have responded to this need by writing the book that they wish had existed when they were trying to break into Wall Street.
Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions is a highly accessible and authoritative book that focuses on the primary valuation methodologies currently used on Wall Streetâcomparable companies, precedent transactions, DCF, and LBO analysis. These methodologies are used to determine valuation for public and private companies within the context of M&A transactions, LBOs, IPOs, restructurings, and investment decisions. Using a step-by-step how-to approach for each methodology, the authors build a chronological knowledge base and define key terms, financial concepts, and processes throughout the book. They also provide a comprehensive overview of the fundamentals of LBOs and an organized M&A sale process.
In the aftermath of the subprime mortgage crisis and ensuing credit crunch, the world of finance is returning to the fundamentals of valuation and critical due diligence. This involves the use of more realistic assumptions governing approach to risk as well as a wide range of value drivers. While valuation has always involved a great deal of âartâ in addition to time-tested âscience,â the artistry is perpetually evolving in accordance with market developments and conditions. In this sense, this book is particularly topicalâin addition to detailing the technical fundamentals behind valuation, the authors infuse practical judgment skills and perspective to help guide the science.
About this product: From award-winning Financial Times journalist Gillian Tett, who enraged Wall Street leaders with her newsbreaking warnings of a crisis more than a year ahead of the curve, Fool's Gold tells the astonishing unknown story at the heart of the 2008 meltdown.
Drawing on exclusive access to J.P. Morgan CEO Jamie Dimon and a tightly bonded team of bankers known on Wall Street as the "Morgan Mafia," as well as in-depth interviews with dozens of other key players, including Treasury Secretary Timothy Geithner, Tett brings to life in gripping detail how the Morgan team's bold ideas for a whole new kind of financial alchemy helped to ignite a revolution in banking, and how that revolution escalated wildly out of control.
The deeply reported and lively narrative takes readers behind the scenes, to the inner sanctums of elite finance and to the secretive reaches of what came to be known as the "shadow banking" world. The story begins with the intense Morgan brainstorming session in 1994 beside a pool in Boca Raton, where the team cooked up a dazzling new idea for the exotic financial product known as credit derivatives. That idea would rip around the banking world, catapult Morgan to the top of the turbocharged derivatives trade, and fuel an extraordinary banking boom that seemed to have unleashed banks from ages-old constraints of risk.
But when the Morgan team's derivatives dream collided with the housing boom, and was perverted -- through hubris, delusion, and sheer greed -- by titans of banking that included Citigroup, UBS, Deutsche Bank, and the thundering herd at Merrill Lynch -- even as J.P. Morgan itself stayed well away from the risky concoctions others were peddling -- catastrophe followed. Tett's access to Dimon and the J.P. Morgan leaders who so skillfully steered their bank away from the wild excesses of others sheds invaluable light not only on the untold story of how they engineered their bank's escape from carnage but also on how possible it was for the larger banking world, regulators, and rating agencies to have spotted, and heeded, the terrible risks of a meltdown.
A tale of blistering brilliance and willfully blind ambition, Fool's Gold is both a rare journey deep inside the arcane and wildly competitive world of high finance and a vital contribution to understanding how the worst economic crisis since the Great Depression was perpetrated.
About this product: A former Wall Street manager turned muckraking journalist gets inside how the banks looted the Treasury, stole the bailout, and continued with business as usual
We've all watched as packs of former Big Finance leaders commandeer posts in Washington and lavish trillions in bailouts to "save" big Wall Street firms that will use that money for anything and everything except to fill in Main Street's potholes.
Former Wall Streeter Nomi Prins has been watching, too, and she isn't going to let them get away with it. She knows all about Big Finance and big money and moving numbers - and in this book she exposes the fundamental follies of our economic system and the schemes of the bigwigs who have no intention of letting it change. Prins:
Explains that the current crisis did not happen because ordinary citizens were able to borrow a little more than they could afford, but because Wall Street converted loans into assets that allowed it to borrow much, much more than it could afford.
Reveals all the ways corporations inhaling bailout money have gamed the system to get the most money with the least oversight.
Exposes the power-bankers that bagged more than $5 billion in compensation before and after their companies siphoned off more than a trillion dollars in federal bailout subsidies.
Shows how the most egregious pillagers work at the Fed and Treasury department, detailing how Hank Paulson, Ben Bernanke, and Tim Geithner siphoned off $10.7 trillion from the publicâs future for Big Financeâs present.
Slams a financial system that will not change, if our government doesn't force it to change, no matter what happens in the so-called free market.
Is a former managing director at Goldman Sachs, now a senior fellow at Demos, who writes regularly on corruption in Washington and Wall Street for news outlets ranging from Fortune to Mother Jones. It Takes a Pillage is her third non-fiction book.
If you've found yourself enraged and frustrated with how the bank bailout went bust for the American people, or how Wall Street continues to operate as if the rest of the world doesnât matter, It Takes a Pillage gives voice to your outrage, and provides a deeper understanding of what we really have to be angry about and how we can fight for some real change.
One year ago, Sarah Palin burst onto the national political stage like a comet. Yet even now, few Americans know who this remarkable woman really is.
On September 3, 2008 Alaska Governor and vice presidential nominee Sarah Palin delivered a speech at the Republican National Convention that electrified the nation and instantly made her one of the most recognizable women in the world.
As chief executive of America's largest state, she had built a record as a reformer who cast aside politics-as-usual and pushed through changes other politicians only talked about: Energy independence. Ethics reform. And the biggest private sector infrastructure project in U.S. history. And while revitalizing public school funding and ensuring the state met its responsibilities to seniors and Alaska Native populations, Palin also beat the political "good ol' boys club" at their own game and brought Big Oil to heel.
Like her GOP running mate, John McCain, Palin wasn't a packaged and over-produced candidate. She was a Main Street American woman: a working mom, wife of a blue collar union man, and mother of five children, the eldest of whom was serving his country in a yearlong deployment in Iraq and the youngest, an infant with special needs. Palin's hometown story touched a populist nerve, rallying hundreds of thousands of ordinary Americans to the GOP ticket.
But as the campaign unfolded, Palin became a lightning rod for both praise and criticism. Supporters called her "refreshing" and "honest," a kitchen-table public servant they felt would fight for their interests. Opponents derided her as a wide-eyed Pollyanna unprepared for national leadership. But none of them knew the real Sarah Palin.
In this eagerly anticipated memoir, Palin paints an intimate portrait of growing up in the wilds of Alaska; meeting her lifelong love; her decision to enter politics; the importance of faith and family; and the unique joys and trials of life as a high-profile working mother. She also opens up for the first time about the 2008 presidential race, providing a rare, mom's-eye view of high-stakes national politicsâfrom patriots dedicated to "Country First" to slick politicos bent on winning at any cost.
Going Rogue traces one ordinary citizen's extraordinary journey and imparts Palin's vision of a way forward for America and her unfailing hope in the greatest nation on earth.
After years of living in Los Angeles, I made a pit stop in my hometown in Oklahoma on the way to a new, exciting life in Chicago. It was during my stay at home that I met Marlboro Man, a mysterious cowboy with steely blue eyes and a muscular, work-honed body. A strict vegetarian, I fell hard and fast, and before I knew it we were married and living on his ranch in the middle of nowhere, taking care of animals, and managing a brood of four young children. I had no idea how I'd wound up there, but I knew it was exactly where I belonged.
The Pioneer Woman Cooks is a homespun collection of photography, rural stories, and scrumptious recipes that have defined my experience in the country. I share many of the delicious cowboy-tested recipes I've learned to make during my years as an accidental ranch wifeâincluding Rib-Eye Steak with Whiskey Cream Sauce, Lasagna, Fried Chicken, Patsy's Blackberry Cobbler, and Cinnamon Rollsânot to mention several "cowgirl-friendly" dishes, such as Sherried Tomato Soup, Olive Cheese Bread, and CrÃme BrÃlÃe. I show my recipes in full color, step-by-step detail, so it's as easy as pie to follow along.
You'll also find colorful images of rural life: cows, horses, country kids, and plenty of chaps-wearing cowboys.
I hope you get a kick out of this book of mine. I hope it makes you smile. I hope the recipes bring you recognition, accolades, and marriage proposals. And I hope it encourages even the most harried urban cook to slow down, relish the joys of family, nature, and great food, and enjoy life.
About this product: In 1954, in the cookhouse of a logging and sawmill settlement in northern New Hampshire, an anxious twelve-year-old boy mistakes the local constableâs girlfriend for a bear. Both the twelve-year-old and his father become fugitives, forced to run from Coos Countyâto Boston, to southern Vermont, to Torontoâpursued by the implacable constable. Their lone protector is a fiercely libertarian logger, once a river driver, who befriends them.
In a story spanning five decades, Last Night in Twisted RiverâJohn Irvingâs twelfth novelâdepicts the recent half-century in the United States as âa living replica of Coos County, where lethal hatreds were generally permitted to run their course.â From the novelâs taut opening sentenceââThe young Canadian, who could not have been more than fifteen, had hesitated too longââto its elegiac final chapter, Last Night in Twisted River is written with the historical authenticity and emotional authority of The Cider House Rules and A Prayer for Owen Meany. It is also as violent and disturbing a story as John Irvingâs breakthrough bestseller, The World According to Garp.
What further distinguishes Last Night in Twisted River is the authorâs unmistakable voiceâthe inimitable voice of an accomplished storyteller. Near the end of this moving novel, John Irving writes: âWe donât always have a choice how we get to know one another. Sometimes, people fall into our lives cleanlyâas if out of the sky, or as if there were a direct flight from Heaven to Earthâthe same sudden way we lose people, who once seemed they would always be part of our lives.â
About this product: The architect of the Obama campaign reveals how it all happened- and how it will revolutionize our politics
David Plouffe not only led the effort that put Barack Obama in the White House, but he also changed the face of politics forever and reenergized the idea of democracy itself. The Audacity to Win is his story of that groundbreaking achievement, taking readers inside the remarkable campaign that led to the election of the first African American president.
For two years Plouffe worked side by side with Obama, charting the course of the campaign. His is the ultimate insider's tale, revealing both the strategies that delivered Obama to office and how the candidate and campaign handled moments of great challenge and opportunity. Moving from the deliberations about whether to run at all, through the epic primary battle with Hillary Clinton and the general election against John McCain, Plouffe showcases the high-wire gamesmanship that fascinated pundits and the drama and intrigue that captivated a nation.
The Audacity to Win chronicles the arrival of a new moment in American life at the convergence of digital technology and grassroots organization, and the exciting possibilities revealed by a campaign that in many ways functioned as a $1 billion start-up with laser-like focus and discipline. In this extraordinary book, David Plouffe unfolds one of the most important political stories of our time, one whose lessons are not limited to politics, but reach to the greatest heights of what we dream about for our country and ourselves.