HEADLINE: Carlyle Makes A KILLING With Defense Sale

London (9 Feb 07) - We all know that making a handsome profit is the raison d'etre of private equity firms, but some seem to take the pursuit to a whole other level. The Carlyle Group raked in an 800% return on its investment on Friday when it sewed up the sale of its 10.3% stake in QinetiQ Group, the British defense research company, said to be the inspiration behind doddering gadget maven Q in the James Bond films.

Carlyle had bought a 30% stake in the company in 2002 for just £42.4 million ($82.7 million), and listed 19.7% of that last year to make nearly $400 million.

Reports said the Washington, D.C.-based private equity company had sold the rest of its stake to institutional investors. The sale was presided over by Credit Suisse, JPMorgan Cazenove and Merrill Lynch International.

The British government still holds a 19.2% stake in QinetiQ, worth around £330 million ($643.4 million), but it had reduced its 56% stake in February 2006 by listing QinetiQ on the London Stock Exchange.

http://www.forbes.com/markets/2007/02/09/carlyle-qinetiq-stake-markets-equity-cx_po_0209markets13.html

The Carlyle White House (Wm. Rivers Pitt)

... Behind it all is George H.W. Bush, former employee of Carlyle, who has somehow managed to refashion his reputation into that of a grandfatherly, level-headed, steady hand, a foreign policy "realist" whose mere presence will soothe and calm the troubled waters we sail in. Unfortunately, his "realism" is a significant reason the United States finds itself in its current mess - until the Gulf War, Saddam Hussein was a boon confederate of both the Reagan and Bush administrations in their fight against Iran - and the team of experts he has brought with him have done more to undermine the national security of the country than any other three people one could name.

The winner in all this, of course, is the Carlyle Group. Meet the new boss, same as the old boss.
http://www.truthout.org/cgi-bin/artman/exec/view.cgi/66/23859

Note: "Makes a killing" indeed!

George H.W. Bush was on the board of Directors at Carlyle as the Iraq war started but distant himself from the defense contractor after too many bloggers made this aware on the net.

We've got the former president who is the father of the current president saying this war on terror will go on thru the year 2015, which is what the pentagon has already budgeted it for.

Pardon my French. Everything else aside, every Rush Limbaugh show, every AAR show, every Bill Maher or Fox and friends panel, any CSPAN program, chuck it and follow the money, America. It's all you need to do to see what you have been standing for and allowing to happen for years.

Remember, as our Puritan forebearers told us, everything is our fault.

So, we can't actually make anything better because we are flawed.

I guess I disagree with that. And will continue on that flawed path. :evilgrin: