The Republican Party of Virginia has posted on its blog my thoughts on Republicans and the U.S. Senate, including the John Warner retirement news and the Larry Craig development. I suggest there are still reasons to be optimistic. You can see the Fred Malek guest post here: Republican Party of Virginia blog.
Archive for September, 2007
One of the credit crunch’s victims is the huge Sallie Mae proposed buyout.
The Washington Post covers it extensively today – and includes my thoughts on what’s happening.
“One of the largest private takeovers in history — the $25.3 billion buyout for college loan giant Sallie Mae — unraveled yesterday after its buyers balked at the price, citing turmoil in the credit markets and federal legislation to cut subsidies to student lenders.
The buyers, headed by fund manager J.C. Flowers, left open the possibility of acquiring Sallie Mae at a lower price. Sallie Mae vowed, however, that it would fight to keep the deal intact ‘to the fullest extent permitted by law.’ …
‘Several deals have collapsed under their own weight. There will be more,’ said Frederic V. Malek, chairman of Thayer Capital, a private-equity firm in the District.”
Indeed. I’ll be curious to watch as the trend continues. My further sense however is that does not signal the end of the buyout boom. We in private equity will just need to be more conservative in our pricing and leverage and earn returns the old fashioned way of growing revenues and profits.
In its October issue, Washingtonian magazine puts me on its “Super Power” list — the 150 most influential people in Washington.
Here’s what they say:
“Fred Malek. He lost his bid to own DC’s baseball team, but the GOP insider and corporate-buyout artist doesn’t lose often.”
I appreciate the praise. But as far as DC’s baseball team in concerned, here’s what the Washingtonian magazine said about me last year:
“Fred Malek: … we wouldn’t have baseball without him.”
It was a pleasure to work with a visionary leader like Mayor Tony Williams and all the members of my Washington-based ball group team. I am deeply gratified to have played a role in bringing baseball to our city. We are also pleased that it is in the hands of strong local owners, with a solid team president like Stan Kasten.
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I had the opportunity to do an interview with Virginia blogger Jim Riley of Virginia Virtucon. It was a great experience. We talked about the future of the Republican party – both in Virginia and nationally. We also discussed topics such as the Malek family’s involvement in charities such as Americans Friends of Cancer Research. Here’s an excerpt from the interview in which he asked about my entry into the blogging world:
“Jim Riley – Switching gears a bit, you recently started blogging yourself. What inspired you to join the blogosphere? Do you have any blogs that you like to read?
Fred Malek – Well, I enjoy writing. I’m very late to the party in being competent in the use of a computer frankly, but even being late to the party you can’t help but realize the power and reach of the blogosphere. At the same time I’ve got a few things on my mind that I wanted to share and invite reaction to. I’m not sure that anyone cares, but writing these few blogs, every couple of weeks – helps to crystallize my thoughts on various issues and is helpful to me. Occasionally I get some reactions that are useful. I read an awful lot of political blogs because it is kind of fun and interesting to see what people are saying, what their thoughts are and I learn a lot from them, but am not sure there are any favorites except yours.”
If you have a moment, I urge you to check out the full interview here: Virginia Virtucon – Ten Questions with Fred Malek.