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For all the years the investigation found child labor, PSSI has been owned by Wall Street's Blackstone--the largest private equity firm in the world. Blackstone told us "extensive pre-investment duediligence showed PSSI had industry-leading hiring compliance." How can this happen? Where did oversight fail?
So, 00:22:17 [Speaker Changed] So when you are evaluating a company, this is more than EBITDA or earnings per share or something like that, you are really doing your duediligence on the management team and how effective they are. How, how are the higher rates affecting valuations amongst privatecompanies?
Just really a fascinating history from, from a privatecompany to a public company back to a, a partnership. He is uniquely situated because he has run both public mutual funds as well as privates, including late stage venture private equity credit down the list. Really interesting. In terms of being that specific.
And it stopped in like September of 2008. 00:33:08 Who, who is advising him to waive duediligence? Well, 00:33:14 He, so I actually think that in hostile public company m and a, it is not that uncommon to not do duediligence, right? And it restarted in, I wanna say March of 2009, but like onlya little bit.
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