Tuesday, Mar 24, 2009
Making Up Your Own Reality - Private Equity Style
Reuters: Foxtons trading profitably, BC Partners says
Foxtons supposedly still profitable on tiny volumes whilst carrying £260m of debt. I really don't understand how that's possible. Of course, private equity can say what they like - it's private and not listed.
"We do see a level of activity, particularly in prime London real estate -- we don't see prices falling there for example ... which is extraordinary,"
Sadly this VI has it wrong. He shouldn't care about trying to hold up prices, he should be trying to hold up volumes which will only happen if prices do fall
Posted by ontheotherhand @ 05:16 PM (554 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. dohousescrashinthewoods said...
No change in the business model then - lie, cheat and steal.
2. jonb said...
Playing devil's advocate here - they do have a lettings business. That is probably pretty busy at the moment - landlord supply up 80%, tenant demand up about 66%. Maybe they manage to make the same sort of money from renting places as they would from selling it? I don't know.
3. Jackassjoiner said...
they also had the debt "restructured" by nm rothschild bank, those guys are pretty good with money, was gonna ask them t restructure mine