The Caesars Palace Coup

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The Caesars Palace Coup

Sujeet Indap,Max Frumes
The Caesars Palace Coup Book PDF

Author : Sujeet Indap,Max Frumes
Publisher : Diversion Books
Page : 352 pages
File Size : 40,5 Mb
Release : 2022-08-02
Category : Business & Economics
ISBN : 1635767741

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The Caesars Palace Coup by Sujeet Indap,Max Frumes Pdf

It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: relentless financial engineers Marc Rowan, David Sambur, and David Bonderman with their teams at Apollo Global Management and TPG Capital. On the other: superstar distressed debt investors Dave Miller and Ryan Mollett with their cohorts at the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG--in the midst of the post-Great Recession slump--had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars' hedge fund lenders and bondholders had scooped up the company's paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs--if they could just stop their own infighting. These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society--and even each other. In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens--vultures, as they are condemned--in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance.

The Caesars Palace Coup

Sujeet Indap,Max Frumes
The Caesars Palace Coup Book PDF

Author : Sujeet Indap,Max Frumes
Publisher : Diversion Books
Page : 352 pages
File Size : 44,7 Mb
Release : 2021-03-16
Category : Business & Economics
ISBN : 163576677X

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The Caesars Palace Coup by Sujeet Indap,Max Frumes Pdf

From the Vegas Strip to Wall Street boardrooms and Federal courts, modern corporate titans collide in this explosive true story of how private equity firm Apollo Global Management's thirty-billion-dollar buyout of Caesars Entertainment turned into unprecedented bankruptcy of the gaming empire.

The Caesars Palace Coup

Sujeet Indap,Max Frumes
The Caesars Palace Coup Book PDF

Author : Sujeet Indap,Max Frumes
Publisher : Diversion Books
Page : 282 pages
File Size : 48,5 Mb
Release : 2021-03-16
Category : Business & Economics
ISBN : 9781635766769

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The Caesars Palace Coup by Sujeet Indap,Max Frumes Pdf

It was the most brutal corporate restructuring in Wall Street history. The 2015 bankruptcy brawl for the storied casino giant, Caesars Entertainment, pitted brilliant and ruthless private equity legends against the world's most relentless hedge fund wizards. In the tradition of Barbarians at the Gate and The Big Short comes the riveting, multi-dimensional poker game between private equity firms and distressed debt hedge funds that played out from the Vegas Strip to Manhattan boardrooms to Chicago courthouses and even, for a moment, the halls of the United States Congress. On one side: Apollo Global Management and TPG Capital. On the other: the likes of Elliott Management, Oaktree Capital, and Appaloosa Management. The Caesars bankruptcy put a twist on the old-fashioned casino heist. Through a $27 billion leveraged buyout and a dizzying string of financial engineering transactions, Apollo and TPG—in the midst of the post-Great Recession slump—had seemingly snatched every prime asset of the company from creditors, with the notable exception of Caesars Palace. But Caesars’ hedge fund lenders and bondholders had scooped up the company’s paper for nickels and dimes. And with their own armies of lawyers and bankers, they were ready to do everything necessary to take back what they believed was theirs—if they could just stop their own infighting. These modern financiers now dominate the scene in Corporate America as their fight-to-the-death mentality continues to shock workers, politicians, and broader society—and even each other. In The Caesars Palace Coup, financial journalists Max Frumes and Sujeet Indap illuminate the brutal tactics of distressed debt mavens—vultures, as they are condemned—in the sale and purchase of even the biggest companies in the world with billions of dollars hanging in the balance.

Distressed Debt Analysis

Stephen G. Moyer
Distressed Debt Analysis Book PDF

Author : Stephen G. Moyer
Publisher : J. Ross Publishing
Page : 518 pages
File Size : 52,5 Mb
Release : 2004-11-15
Category : Business & Economics
ISBN : 9781932159189

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Distressed Debt Analysis by Stephen G. Moyer Pdf

Providing theoretical and practical insight, this book presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The author uses numerous real- world examples to demonstrate concepts and critical issues. Readers will understand the chess-like, multi- move strategies necessary to achieve financially advantageous results.

Casino Conquest

Frank Scoblete
Casino Conquest Book PDF

Author : Frank Scoblete
Publisher : Triumph Books
Page : 315 pages
File Size : 50,6 Mb
Release : 2012-09-26
Category : Games & Activities
ISBN : 9781623680053

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Casino Conquest by Frank Scoblete Pdf

Penned by a reputable authority on casinos, this guide provides the tools of the trade in order to perform a successful climb to the top of the gaming mountain. A step-by-step instructional approach is presented, going beyond the standard handbooks on blackjack, craps, and slots to include tips and tricks on baccarat, roulette, and more. A must-have for both casual and professional gamblers throughout the nation, this invaluable companion is guaranteed to provide the winning edge to beat the house.

Cable Cowboy

Mark Robichaux
Cable Cowboy Book PDF

Author : Mark Robichaux
Publisher : John Wiley & Sons
Page : 338 pages
File Size : 43,9 Mb
Release : 2002-10-31
Category : Business & Economics
ISBN : 9780471434320

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Cable Cowboy by Mark Robichaux Pdf

An inside look at a cable titan and his industry John Malone, hailed as one of the great unsung heroes of our age by some and reviled by others as a ruthless robber baron, is revealed as a bit of both in Cable Cowboy. For more than twenty-five years, Malone has dominated the cable television industry, shaping the world of entertainment and communications, first with his cable company TCI and later with Liberty Media. Written with Malone's unprecedented cooperation, the engaging narrative brings this controversial capitalist and businessman to life. Cable Cowboy is at once a penetrating portrait of Malone's complex persona, and a captivating history of the cable TV industry. Told in a lively style with exclusive details, the book shows how an unassuming copper strand started as a backwoods antenna service and became the digital nervous system of the U.S., an evolution that gave U.S. consumers the fastest route to the Internet. Cable Cowboy reveals the forces that propelled this pioneer to such great heights, and captures the immovable conviction and quicksilver mind that have defined John Malone throughout his career.

How to Beat Internet Casinos and Poker Rooms

Arnold Snyder
How to Beat Internet Casinos and Poker Rooms Book PDF

Author : Arnold Snyder
Publisher : Cardoza
Page : 274 pages
File Size : 40,7 Mb
Release : 2006-03-01
Category : Games & Activities
ISBN : 1580421709

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How to Beat Internet Casinos and Poker Rooms by Arnold Snyder Pdf

A quick and easy guide shows players how to beat online casinos and poker sites safely and for profit. Arnold Snyder shows how to play and win money online against the internet casinos. People love to gamble, and now that they can do so from their own homes, Snyder shows them how to choose safe sites to play. He goes over every step of the process, from choosing sites, opening an account, and how to take your winnings! There are major chapters covering the differences between "brick and mortar" and internet gaming rooms and how to handle common situations and predicaments. A major chapter covers internet poker and basic strategies to beat hold'em and other games online.

The Predators' Ball

Connie Bruck
The Predators Ball Book PDF

Author : Connie Bruck
Publisher : Simon & Schuster
Page : 400 pages
File Size : 43,6 Mb
Release : 2020-02-04
Category : Business & Economics
ISBN : 9781982144265

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The Predators' Ball by Connie Bruck Pdf

“Connie Bruck traces the rise of this empire with vivid metaphors and with a smooth command of high finance’s terminology.” —The New York Times “The Predators’ Ball is dirty dancing downtown.” —New York Newsday From bestselling author Connie Bruck, The Predators’ Ball dramatically captures American business history in the making, uncovering the philosophy of greed that dominated Wall Street in the 1980s. During the 1980s, Michael Milken at Drexel Burnham Lambert was the Billionaire Junk Bond King. He invented such things as “the highly confident letter” (“I’m highly confident that I can raise the money you need to buy company X”) and the “blind pool” (“Here’s a billion dollars: let us help you buy a company”), and he financed the biggest corporate raiders—men like Carl Icahn and Ronald Perelman. And then, on September 7, 1988, things changed... The Securities and Exchange Commission charged Milken and Drexel Burnham Lambert with insider trading and stock fraud. Waiting in the wings was the US District Attorney, who wanted to file criminal and racketeering charges. What motivated Milken in his drive for power and money? Did Drexel Burnham Lambert condone the breaking of laws?

Den of Thieves

James B. Stewart
Den of Thieves Book PDF

Author : James B. Stewart
Publisher : Simon and Schuster
Page : 614 pages
File Size : 47,8 Mb
Release : 2012-11-20
Category : True Crime
ISBN : 9781439126202

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Den of Thieves by James B. Stewart Pdf

A #1 bestseller from coast to coast, Den of Thieves tells the full story of the insider-trading scandal that nearly destroyed Wall Street, the men who pulled it off, and the chase that finally brought them to justice. Pulitzer Prize–winner James B. Stewart shows for the first time how four of the eighties’ biggest names on Wall Street—Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine—created the greatest insider-trading ring in financial history and almost walked away with billions, until a team of downtrodden detectives triumphed over some of America’s most expensive lawyers to bring this powerful quartet to justice. Based on secret grand jury transcripts, interviews, and actual trading records, and containing explosive new revelations about Michael Milken and Ivan Boesky, Den of Thieves weaves all the facts into an unforgettable narrative—a portrait of human nature, big business, and crime of unparalleled proportions.

Commercial Real Estate Restructuring Revolution

Stephen B. Meister
Commercial Real Estate Restructuring Revolution Book PDF

Author : Stephen B. Meister
Publisher : John Wiley & Sons
Page : 272 pages
File Size : 47,8 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 0470944307

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Commercial Real Estate Restructuring Revolution by Stephen B. Meister Pdf

How to plan for the commercial real estate collapse Encompassing apartment, office, retail, hospitality, warehouse, manufacturing, and flex or R & D buildings, commercial real estate (CRE) investment in the U.S. totaled $6.4 trillion at the end of 2008. As noted in the February 2010 Congressional Oversight Panel Report, $1.4 trillion of CRE debt is coming due by 2014 and half of the CRE projects securing such debt are underwater. Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery looks at how we got into this mess–impacts of the housing crisis, debt structures, lender-borrower collusion, and bankruptcy abuses–and offers possible solutions to the CRE crisis. Along the way, author Stephen Meister: • Discusses how CRE value losses are being driven by investors’ risk adjusted cap rates, not just poorer market fundamentals • Discusses strategies and emerging trends in CRE foreclosures, including forced lender fundings, lender attempts to chill bids and UCC foreclosure tactics and pitfalls • Proposes legislative solutions and explains how any rebound will require federal spending cuts, a vast deleveraging and a market clearing process With a crashing CRE debt market and the hundreds of CRE-heavy regional banks destined for failure, getting out ahead of the curve is essential. Commercial Real Estate Restructuring Revolution addresses how we got here and how you can plan for the impending crash.

Monkey Business

John Rolfe
Monkey Business Book PDF

Author : John Rolfe
Publisher : Grand Central Publishing
Page : 288 pages
File Size : 41,9 Mb
Release : 2009-11-29
Category : Business & Economics
ISBN : 9780759523203

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Monkey Business by John Rolfe Pdf

Animal House meets Liar's Poker in this hysterically funny, often unbelievable, and absolutely, positively true account of life at DLJ, one of the hottest investment banks on Wall Street. "Like most other young business school graduates, John Rolfe and Peter Troob thought that life in a major investment banking firm would make their wildest dreams come true -- it would be fast-paced, intellectually challenging, glamorous, and, best of all, lucrative. They were in for a surprise. For behind the walls of Wall Street's firms lies a stratum of stunted, overworked, abused, and in the end, very well-compensated, but very frustrated men and women. Monkey Business takes readers behind the scenes at Donaldson, Lufkin, and Jenrette (DLJ), one of Wall Street's hottest firms of the 90s, from the interview process to the courting of clients to bonus time. It's a glimpse of a side of the business the financial periodicals don't talk about -- 20-hour work days, trips across the country where associates do nothing except carry the pitch book, strip clubs at night, inflated salaries, and high-powered, unforgettable personalities. Monkey Business provides readers with a first-class education in the real life of an investment banker. But best of all, it is an extremely funny read about two young men who, on their way towards achieving the American dream, quickly realized they were selling their souls to get there."

The Dealmaker

Guy Hands
The Dealmaker Book PDF

Author : Guy Hands
Publisher : Random House
Page : 341 pages
File Size : 42,9 Mb
Release : 2021-11-04
Category : Business & Economics
ISBN : 9781473598782

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The Dealmaker by Guy Hands Pdf

An inside account of the multi-billion pound world of private equity and a masterclass on the art of deal-making. The Dealmaker is a frank and honest account of how a severely dyslexic child who struggled at school went on to graduate from Oxford and become a serial entrepreneur. It describes Guy Hand's career in private equity, first at Nomura and then as head of his own company, Terra Firma. It looks in detail at the huge deals that Terra Firma has done over the years, involving everything from cinema chains and pubs to waste management, aircraft leasing and green energy. And it offers a brutally honest appraisal of the deal that almost bankrupted him - the acquisition of multinational music recording and publishing company EMI in 2007, just as a global financial crash loomed on the horizon. Above all, he gives the reader a real sense of what it's like inside the secretive world of private equity, describing in frank detail the pressures and rewards involved. Insightful and page-turning, The Dealmaker will prove inspirational and essential reading for all those who want to understand how huge business negotiations are done, and what makes one of private equity's biggest players tick.

King of Capital

David Carey,John E. Morris
King of Capital Book PDF

Author : David Carey,John E. Morris
Publisher : Crown Currency
Page : 402 pages
File Size : 52,8 Mb
Release : 2012-02-07
Category : Business & Economics
ISBN : 9780307886026

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King of Capital by David Carey,John E. Morris Pdf

The story of Steve Schwarzman, Blackstone, and a financial revolution, King of Capital is the greatest untold success story on Wall Street. In King of Capital, David Carey and John Morris show how Blackstone (and other private equity firms) transformed themselves from gamblers, hostile-takeover artists, and ‘barbarians at the gate’ into disciplined, risk-conscious investors while the financial establishment—banks and investment bankers such as Citigroup, Bear Stearns, Lehman, UBS, Goldman Sachs, Merrill Lynch, Morgan Stanley—were recklessly assuming risks, leveraging up to astronomical levels and driving the economy to the brink of disaster. Now, not only have Blackstone and a small coterie of competitors wrested control of corporations around the globe, but they have emerged as a major force on Wall Street, challenging the likes of Goldman Sachs and Morgan Stanley for dominance. Insightful and hard-hitting, filled with never-before-revealed details about the workings of a heretofore secretive company that was the personal fiefdom of Schwarzman and Peter Peterson, King of Capital shows how Blackstone and private equity will drive the economy and provide a model for how financing will work in the years to come.

Dethroning the King

Julie MacIntosh
Dethroning the King Book PDF

Author : Julie MacIntosh
Publisher : John Wiley & Sons
Page : 430 pages
File Size : 46,9 Mb
Release : 2011-09-20
Category : Business & Economics
ISBN : 9781118202821

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Dethroning the King by Julie MacIntosh Pdf

How the King of Beers collapsed without a fight and what it means for America's place in the post-Recession world How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands with scarcely a whimper of opposition? Chalk it up to perfect timing—and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. In Dethroning the King, Julie MacIntosh, the award-winning financial journalist who led coverage of the takeover for the Financial Times, details how the drama that unfolded at Anheuser-Busch in 2008 went largely unreported as the world tumbled into a global economic crisis second only to the Great Depression. Today, as the dust settles, questions are being asked about how the "King of Beers" was so easily captured by a foreign corporation, and whether the company's fall mirrors America's dwindling financial and political dominance as a nation. Discusses how the takeover of Anheuser-Busch will be seen as a defining moment in U.S. business history Reveals the critical missteps taken by the Busch family and the Anheuser-Busch board Argues that Anheuser-Busch had a chance to save itself from InBev's clutches, but infighting and dysfunctionality behind the scenes forced it to capitulate From America's heartland to the European continent to Brazil, Dethroning the King is the ultimate corporate caper and a fascinating case study that's both wide reaching and profound.

Inside Money

Zachary Karabell
Inside Money Book PDF

Author : Zachary Karabell
Publisher : Penguin
Page : 457 pages
File Size : 41,5 Mb
Release : 2021-05-18
Category : Business & Economics
ISBN : 9780698197961

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Inside Money by Zachary Karabell Pdf

A sweeping history of the legendary private investment firm Brown Brothers Harriman, exploring its central role in the story of American wealth and its rise to global power Conspiracy theories have always swirled around Brown Brothers Harriman, and not without reason. Throughout the nineteenth century, when America was convulsed by a devastating financial panic essentially every twenty years, Brown Brothers quietly went from strength to strength, propping up the U.S. financial system at crucial moments and catalyzing successive booms, from the cotton trade and the steamship to the railroad, while largely managing to avoid the unwelcome attention that plagued some of its competitors. By the turn of the twentieth century, Brown Brothers was unquestionably at the heart of what was meant by an American Establishment. As America's reach extended beyond its shores, Brown Brothers worked hand in glove with the State Department, notably in Nicaragua in the early twentieth century, where the firm essentially took over the country's economy. To the Brown family, the virtue of their dealings was a given; their form of muscular Protestantism, forged on the playing fields of Groton and Yale, was the acme of civilization, and it was their duty to import that civilization to the world. When, during the Great Depression, Brown Brothers ensured their strength by merging with Averell Harriman's investment bank to form Brown Brothers Harriman, the die was cast for the role the firm would play on the global stage during World War II and thereafter, as its partners served at the highest levels of government to shape the international system that defines the world to this day. In Inside Money, acclaimed historian, commentator, and former financial executive Zachary Karabell offers the first full and frank look inside this institution against the backdrop of American history. Blessed with complete access to the company's archives, as well as a thrilling understanding of the larger forces at play, Karabell has created an X-ray of American power--financial, political, cultural--as it has evolved from the early 1800s to the present. Today, unlike many of its competitors, Brown Brothers Harriman remains a private partnership and a beacon of sustainable capitalism, having forgone the heady speculative upsides of the past thirty years but also having avoided any role in the devastating downsides. The firm is no longer in the command capsule of the American economy, but, arguably, that is to its credit. If its partners cleaved to any one adage over the generations, it is that a relentless pursuit of more can destroy more than it creates.