A widespread misunderstanding concerning leveraged buyouts (LBOs) is the belief that they accomplish little but the ruin of companies and the loss of employment. How else could it be? Until recently, journalists, including much of the business press, have depicted LBO specialists as generally greedy, if not sinister, forces whose activities compound the dislocations of modern American economic and social life. This kind of criticism reached a crescendo in the press and in Congress at the end of the 1980s, and Kohlberg Kravis Roberts found itself in the middle of the controversy. Based on interviews with partners of the firm and on unprecedented access to KKR's records, George P. Baker and George David Smith have written a definitive account of how KKR has approached LBOs in a book that will appeal to the specialist and general reader alike. The authors focus on KKR's founding, evolution, and innovations as ways to understand issues in modern American business. In examining KKR as a unique form of enterprise--one that subscribes to a set of alternative perspectives on business and value creation--the book bridges the gap between public perception and academic knowledge of how financial innovation impacts economic life. The firm's approach to leveraged buyouts was an important aspect of the corporate restructuring and governance reforms in the American economy from the mid-1970s through 1990 (the years of what some have called the "leveraged buyout movement"). KKR and other companies fundamentally altered the prevailing perception of the role of debt in the modern American corporation and established an alternative model for organizing and managing corporate enterprises. KKR financed the companies it acquired with high levels of debt, while linking their ownership to management. It then imposed rigorous monitoring by the board of directors over the companies in its portfolio. This combination of factors forced managers to concentrate not on growth but rather on how to achieve value through whatever means was most appropriate to the company's circumstances. The purpose of the leveraged buyout was to realize, or "create," value in companies by reforming their management systems. KKR's approach to restructuring the relationship between owners and managers in a highly leveraged firm rested on a basic principle: Make managers owners by making them invest a significant share of their personal wealth in the enterprises they manage, and they will have stronger incentives to act in the best interests of all shareholders.

This Is A New Release Of The Original 1921 Edition.

This Is A New Release Of The Original 1919 Edition.

This Is A New Release Of The Original 1909 Edition.

THIS 94 PAGE ARTICLE WAS EXTRACTED FROM THE BOOK: Representative Plays by John Galsworthy, by John Galsworthy. To purchase the entire book, please order ISBN 141790657X.

THIS 94 PAGE ARTICLE WAS EXTRACTED FROM THE BOOK: Representative Plays by John Galsworthy, by John Galsworthy. To purchase the entire book, please order ISBN 141790657X.

This scarce antiquarian book is a selection from Kessinger Publishing's Legacy Reprint Series. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment to protecting, preserving, and promoting the world's literature. Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone

1919. From the Introduction: The Harvard Dramatic Club before the War brought a pause of two years in its activities, had for some ten years produced annually as part of its activity three or four one-act plays. The four new selections from its repertory of one-act pieces included in this volume can hardly require any special introduction, for the history of the Harvard Dramatic Club was given in the prefatory matter to the volume of one-act plays of this Club published in 1918, and the reception by the public of the four plays therein contained shows that they were welcome to readers and amateur acting organizations. The plays here printed have not been chosen as the only remaining four sufficiently worthy, for there are others any editor would be glad to see published in a volume like this, but as a group which perhaps gives the volume best variety and balance. The editor's hope is that they may please their public as well as did the first group of Harvard Dramatic Club plays. Contains: The Harbor of Lost Ships, by Louise Whitefield Bray; Garafelia's Husband, by Esther Willard Bates; The Scales and the Sword, by Farnham Bishop; and The Four-Flushers, by Cleves Kinkead.

This scarce antiquarian book is a selection from Kessinger Publishing's Legacy Reprint Series. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment to protecting, preserving, and promoting the world's literature. Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

1909. English novelist and playwright, winner of the Nobel Prize for Literature in 1932, Galsworthy became known for his portrayal of the British upper middle class and for his social satire. Contents: The Silver Box; Strife; Justice; The Pigeon; A Bit O'Love; and Loyalties. See other titles by this author available from Kessinger Publishing.

This scarce antiquarian book is a selection from Kessinger Publishing's Legacy Reprint Series. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment to protecting, preserving, and promoting the world's literature. Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone

This scarce antiquarian book is a selection from Kessinger Publishing's Legacy Reprint Series. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment to protecting, preserving, and promoting the world's literature. Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

1909. English novelist and playwright, winner of the Nobel Prize for Literature in 1932, Galsworthy became known for his portrayal of the British upper middle class and for his social satire. Contents: The Silver Box; Strife; Justice; The Pigeon; A Bit O'Love; and Loyalties. See other titles by this author available from Kessinger Publishing.

1909. English novelist and playwright, winner of the Nobel Prize for Literature in 1932, Galsworthy became known for his portrayal of the British upper middle class and for his social satire. Contents: The Silver Box; Strife; Justice; The Pigeon; A Bit O'Love; and Loyalties. See other titles by this author available from Kessinger Publishing.

This scarce antiquarian book is a selection from Kessinger Publishings Legacy Reprint Series. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment to protecting, preserving, and promoting the worlds literature. Kessinger Publishing is the place to find hundreds of thousands of rare and hard-to-find books with something of interest for everyone!

1919. From the Introduction: The Harvard Dramatic Club before the War brought a pause of two years in its activities, had for some ten years produced annually as part of its activity three or four one-act plays. The four new selections from its repertory of one-act pieces included in this volume can hardly require any special introduction, for the history of the Harvard Dramatic Club was given in the prefatory matter to the volume of one-act plays of this Club published in 1918, and the reception by the public of the four plays therein contained shows that they were welcome to readers and amateur acting organizations. The plays here printed have not been chosen as the only remaining four sufficiently worthy, for there are others any editor would be glad to see published in a volume like this, but as a group which perhaps gives the volume best variety and balance. The editor's hope is that they may please their public as well as did the first group of Harvard Dramatic Club plays. Contains: The Harbor of Lost Ships, by Louise Whitefield Bray; Garafelia's Husband, by Esther Willard Bates; The Scales and the Sword, by Farnham Bishop; and The Four-Flushers, by Cleves Kinkead.