Word: takeout
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There is admittedly a certain irony in redefining as luxury items ingredients formerly associated with subsistence eating or animal feed. It wasn't all that long ago, before the days of Nordic affluence and takeout pizza, that eating tree bark and foraging for edible lawn clippings were reserved for dire necessity or particularly hard times. "For a long time," says Danish restaurant critic and former Slow Food president Bent Christensen, "all we had were pigs, coal, potatoes and the cold. We were not proud of our own kitchen. Not anymore. We want to discover our own good things. Nordic cuisine...
That's one reason some private-equity players are going public, such as Blackstone Group and Fortress Investment Group. Others are resorting to deal jumping--busting in on another firm's deal with a higher bid, as Filmore Capital Partners did to Formation Capital in the Genesis Healthcare takeout. "There has never been a buyout market that has been this frothy," says Thomas Roberts, partner at Weil, Gotshal & Manges, a leading mergers and acquisitions (M&A) law firm. "[The cycle] looks like...
...Steers, the firm's co-CEO, won't shy from speaking up when he feels a takeout isn't fair. "Oh, absolutely," he said. "Our fiduciary obligation is to maximize the returns and the valuation for our investors." Carl Icahn more recently suffered a similar predicament when shareholders rebelled against his offer for auto-parts maker Lear Corp., forcing him to cough up more cash. And several PE financings have flopped because investors balked at the lenient loan terms...
...find beauty in Manila, you won't find it anywhere," he quips as we later scarf Chinese takeout in his high-ceilinged Malate apartment. I find it impossible to disagree. Manila's aesthetic isn't perfect, and that's its attraction. There's an ironic local expression that sums it up: Frankenstein. It describes an old object or concept injected with new life through fresh components-"antique" chairs bolstered by new arms and legs, jeepneys revamped with transplanted motors and fresh paint jobs (a new MTV program, Pimp My Jeepney, is in the works), to ukay-ukay, or rummage-sale...
...more he can rattle off fluently. Life as an illegal immigrant has deflated the dreams he once had. Still, he must keep up appearances for his family back home. His brother thinks Big Lin owns his own restaurant. In reality, he sweats over a wok at someone else's takeout joint, six days a week. Nor does he own a house, as Little Lin believes. Instead, Big Lin lives in a small room in a Cambridge boarding house along with other migrants from Indonesia, Malaysia and Poland...