BLACKSTONE CEO: The 1980s Are Coming Back To Wall Street Deal Making 'Like Freddy Kruger'
Forbes/YouTube
Two serious dealmakers, JP Morgan's legendary Jimmy Lee and Blackstone CEO Steve Schwarzman just left the stage after speaking really candidly about the mergers and acquisitions landscape right now.
And actually, they're kind of funny.
The duo used humor to talk about some serious stuff, however. One matter that caught our attention was that Schwarzman and Lee agreed that in terms of deal making, the 1980s are back.
Lee started it off saying: "There is some sort of echo of the 80s... behavior that is non-acceptable, it starts creeping up and becomes more acceptable. I wouldn't be surprised to see a private equity firm do something more unusual."
Schwarzman agreed. ""It's back...it's like Freddie Kruger."
"That movie didn't end well," said Lee.
If you're not familiar with what happened in mergers and acquisitions in the 1980s, just know this - it was the Wild Wild West. Think: Corporate takeovers, green money payouts to get corporate raiders to go away... Carl Icahn running even wilder than he is now.
It was crazy.
For more reading on this, pick up Barbarian's at the Gate by Bryan Burrough and John Heylar. It's about the deal to take RJR Nabisco private, and all the players are in there.
- As Ilya Sutskever announces OpenAI exit, here’s a quick recap of his involvement in Sam Altman's firing last year
- DHFL scam, simplified: Here’s all about the Dheeraj Wadhawan case — allegedly India’s biggest banking loan fraud ever
- India-UK trade pact: Work in progress to resolve pending issues
- 5 most colourful mountains in the world
- Vivo takes the top spot in India: Top smartphone brands in Q1 2024
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market