Over some time now, the private equity has tried to bolster its poor public image. A gulf has emerged between the private equity self-image (best practice management and financing that creates substantial long-term economic value) and the image held by the world at large (slash-and-burn costs, fire employees, short-term profiteers).
Today Wall Street Journal - a highly respected and financier friendly publication - wrote an article that compared the industries of private equity and piracy. OK, so there's a healthy dash of journalistic humour afoot. But it certainly is not helpful to public perception of the industry. Odd that such a prominent industry has incited the rath of so many stakeholders - competition authorities, accountants, taxation policymakers, unions, even industry leaders.
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