Word: cressey
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Rauner is managing principal of Golder, Thoma, Cressey and Rauner, Inc. (GTCR), a firm specializing in acquiring and consolidating service businesses such as those that deal in laundry equipment, propane distribution and funeral homes, according to information obtained from...
...entered HBS shortly after finishing Dartmouth and then went on to work at a startup company called Golder, Thoma, Cressey...
...Bryan Cressey. When Cressey, 36, was growing up in Seattle, he developed a deep admiration for professional risk takers. "I always heard about these successful entrepreneurs who went to Harvard Business School," he says, "so I wanted to go too." After graduating from Harvard in 1976 with both an M.B.A. and a law degree, he decided to become a venture capitalist, but "there were no jobs in the field and no prospects of getting any." Then a professor introduced him to Stanley Golder, president of First Chicago's venture capital...
That encounter eventually led to the formation of Golder, Thoma & Cressey, a Chicago venture capital firm that started business in 1980 with $60 million. Now the partnership manages two funds worth $160 million. Cressey rides herd on nine companies, primarily in the health-care industry, including his most promising current venture, Continental Medical Systems, a nursing-home operator. "In the office, we spend all our time juggling phone calls from CEOs, dealing with problems from hiring to firing," he says. "You've got to change your mind-set quickly from one company to another." Cressey spends his free time...
...sweetheart" contracts that are grossly unfair to the workers it is supposed to represent. The difference between what a legitimate union might win for the workers and what the Mob union actually obtains is split between the mobsters and the company owners. In one such contract, writes Donald Cressey in his definitive work, Theft of the Nation, the president of a paper local won his union only one paid holiday a year: Passover. His membership was exclusively Puerto Rican...