Definition of ‘Carried Interest’
A share of any profits that the general partners of private equity and hedge funds receive as compensation, despite not contributing any initial funds. This method of compensation seeks to motivate the general partner (fund manager) to work toward improving the fund’s performance.
Investopedia explains ‘Carried Interest’
Traditionally, the amount of carried interest comes out to around 20-25% of the fund’s annual profit. While all funds tend to have a small management fee, the management fee is meant to only cover the costs of managing the fund, with the exception of compensating the fund manager.
Carried interest is meant to serve as the primary source of income for the general partner. However, the general partner must ensure that all the initial capital that the limited partners contribute is returned along with some previously agreed upon rate of return.
I don’t understand Iowa. That is I don’t understand the Republicans in Iowa and the media and how they talked about the Iowa Republican caucuses.
When it seemed that Mitt Romney won the Iowa Caucuses … and it was by a total of 8 votes, I considered that a tie. Both Romney and Rick Santorum had 24 percent of the vote. The pundits all said it was a win for Romney.
Then Romney won the New Hampshire primary and was leading in SC and it seemed he would win three of the first three contests for picking the Republican nominee.
Everyone was talking Mitt.
Forget that now the news stations, all of them, are saying that Iowa was a tie. Forget that the Republicans LOST the results of 8 Iowa precints, my problem with the Republicans is that everyone is NOW saying Iowa was a tie.
When Romney won by 8 votes it was a win.
Now that Santorum won by 34 votes (how they did this with 8 precincts missing is beyond me) everyone says it was a tie.
The one thing that no one is talking about is how they all talked for a week about Mitt having all the momentum.
Mitt went from nearly having all of the first three nominating contests locked up, to only having won one!
Rick should have gotten the push from his win in Iowa. Rick Santorum won Iowa!
I want to hear pundits talking about Santorum momentum. Poor Rick never got his juice out of the Iowa Caucuses. Why aren’t more people talking about Santorum.
Well, the good news is that smug look is no longer riding on Mitt Romney’s face.
The bad news is that shows up on Newt Gingrich now, after his win yesterday in the South Carolina primary.
It seems clear that Newt charged into favor when he attacked John King for asking the question in the last debate, about Newt’s second wife’s claim that Newt had asked for an open marriage.
Newt cleverly deflected the shame and embarrassment of the answer to that question by attacking the interviewer. He did say it was not true, you can ask my friends and my kids – as if that kind of talk between a husband and wife would have been shared with his kids!
I feel that it was a fair question because people want to know what kind of person the president is. I’m not saying its wrong to have an open marriage. I’m not saying that its wrong to be divorced twice or to have your second mistress be the first lady of the United States.
I am saying it reflects on you, the office, and the country that she cheated on the cheater. I don’t care if Newt is offended. I don’t care that it isn’t relevant to policy.
I’m saying two things.
One, it would have been smarter to let one of Newt’s opponent’s open the door to morality questions since they like to talk about their fidelity and their family. Then return to Newt after Santorum or Romney made it an issue.
Two. It wasn’t relevant to policy when Newt was leading the charge to impeach Mr Clinton for his indiscretions, while Newt Gingrich was cheating on one of his wives with one of his mistresses.
What is carried interest? How often will we hear it this term in the next 10 months?
Its pretty clear that Mitt Romney wanted to wait till he couild scuplt this years tax return before he released his tax return. Which means that there is something embarassing in his older tax returns.
Now he says that he’ll release his 2010 taxes as well. But how about the last 12 years worth of taxes. One of the pundits, one of the interviewers, one of the reporters this last week asked him if he would release all 12 years like his dad did, when his dad started the practice. George Romney? I’ve heard of him. Don’t know anything about him, but his son now seems to have a problem based upon what dad did.
What I do know is that Mitt Romney was a “bishop” in the Mormon church. Some people suspect that Mitt Romney doesn’t want it out there how much money he gave to his church.
Sounds right to me. But I’m a liberal. I’ve heard that liberals have more problems with Mormonism than Evangelicals.
Could be.
Still it has come out that Bishop Romney has money parked in the Cayman Islands.
And whatever it means. It probably won’t look good that Bishop Romney has a lot of “carried interest”.
Check it out. Like others, I couldn’t get the song out of my head (see Max’s theory on why that happens) so I went and dug it up and its great. (That’s the other reason we can’t get it out of our heads). This song has “it”.
Into The Wild – LP lyrics
Are we on the lonely side
Say oh now the past long away
Are we’re so lost in the dark of our hearts
That there’s no light of day
No oh oh oh
No oh oh oh
1, 2, 3, 4!
Somebody left the gate open
You know we got lost on the way
Come save us a runaway train
Goin insaane(?)
How do we How do we not fade
how do we how do we how do we not fade away
how do we how do we ooooh
Into the wild
how are we living living living
Into the wild
How are we living living living
Wooohooo
Wooohoohoo
Heeeyy
Heeey
Oh please believe me Im more scared than not
That oh now this isnt the way
And please be there I can barely hang on
But oh I wait til I break
Yea eh eh eh
Yea eh eh eh
Somebody left the gate open
You know we got lost on the way
Come save us a runaway train
Goin insane
how do we how do we not fade
how do we how do we how do We not fade away
How do we how do we ooooooooh
Into the wild
How are we living living living
Into the wild
How are we living living living
No wait. That was just Iowa. And a frothy bit of voting it was too. In the end, it all came out Santorum.
Forget Romney’s tight finish. This was Santorum squeezing out a victory. It was Rick who campaigned hard in Iowa. It was Rick who stayed. Rick who visited every area of Iowa, working his tail off to pull out this victory. Yes, they tied, in vote percentage. Yes, technically Romney was on top…
Yesterday was supposed to be the day. Yesterday was legal new years day. Dad was supposed to go in to “Absolut of Endicott”, a nursing home, which isn’t the nursing home he wants to go in, but one that he’s willing to go into, so that he can get out of the home care home he is at now, where he is decidedly unhappy. He didn’t want to go to this place after having seen it, till my brother called him and suggested he needed to accept it. My brother still wants to bring my Dad down south. He tells Dad this is a stepping stone to get there. I wish I felt like he was working with me. Its so hard to keep everyone happy.
But I called Dad and told him I’d pick him up. I was told that everything was ready. Its hard enough to put a parent in the nursing home. But Dad’s been slipping. In the last three days he’s been asking me what’s going to happen. I kept telling him, it would be Monday. I was told all was set.
All was not set. So I had to call him and tell him it would be Tuesday. Twice Monday night he calls me to ask what’s going to happen. Tuesday I’ll follow up with everyone and see if I can get every form signed by whomever needs to sign it. Tuesday he goes into Absolut of Endicott. I hope?
Dad seems to be declining by the day. I couldn’t seem to get him to understand that there was a second option. There was a different nursing home that was willing to provide a bed. I kept telling him that he could go see it, but he never said “Let’s go”. We drove by it last week. I asked him if he wanted to go in, but all he would say is “That was the one that Uncle Paul was in, right?” It was, and I’d tell him. Five minutes later he’d ask again.
Inventory at work. Ugh. Performance reviews are going on at work. Ugh!
And its still cold in the house. Don was going to add more baseboard to the heating system. We have one downstairs outside wall filled with baseboard heating. And when I say we, I mean me and Anya, my cat. She’s really confused and clingy.
But it was official New Years Day. Nothing was open. The cold didn’t get the message. The house is a mess, that’s typical, both for me and for a house under reconstruction. But the one baseboard isn’t doing the job anymore. Its gotten colder outside. I’d been amazingly lucky that the winter has been as mild as it has. Right now its cold with lake effect snows. It is supposed to warm up Thursday.
I’m broke. Not just cash poor. I used to laugh at the term “cash poor”. Now I get it. Broke. Possibly without power to borrow any more money, except by borrowing enough from my sister, to payoff one 401k loan, so that I can borrow more from my 401k. They only let you take two loans from your 401k.
So I’m cold, broke, stressed at work and trying to take care of my Dad.
A realtor I talked to said that I should just let his house go. There’s not enough value to save there. He has a loan against the property, and lean from Medicaid. Just let it go.
Oh yeah, the electric heaters have flipped the circuit breakers twice. I would have stayed at a friend’s house last night, but I didn’t want to leave the cat alone in the cold house. She’s pretty much freaked out.
Things aren’t good. Cold. Broke. Struggling to take care of an aging parent.
It used to be I had the house to go back to, to decompress. Now the house adds to the stress, and there’s no where to hide.
Furnace guy wanted to get a carpenter to deal with the rug. I wonder if he meant carpeter? He said he can have one there beginning of next week! I said let’s do it tomorrow. I’ll cut the carpet myself if I have to. Got to get someone under the house to look at the pipes.
Today MWV announced the spin off of their Consumer and Office Products division to a company called ACCO. This is supposed to be good for us. They are in the same business but make complimentary products.
But the announcement or the bosses or somebody used that awful word “synergies”. This means that someone with an MBA has decided that some jobs are duplicated and half of those can be cut. Also, benefits can be cut. Shedding benefits (if not people) is the fastest way for corporations to save money. Here’s a lump sum. Now go away. We have no more obligations to you and we have no need of the HR people who would manage those pensions and insurances. Its a win win!
The good news is I’m going to work tomorrow. Hopefully it won’t be my job that gets synergized.
Forget Rick Perry’s “Oops” moment. Watch this man making shit up as he goes along. This man is lying. AND he’s lying because he doesn’t know what he’s talking about, yet he has the hubris to criticize.
]Its been a hard stretch for me. More on that soon, but for now, its funny what that brings out.
The other day in line in the cafeteria I was telling Catalina, the cafeteria lady, my story of the only time I’d ever woken up laughing.
It almost happened again last night.
I went to dinner with a large group of old friends, all of whom I wanted to share a conversation with. But the matre’d at Tully’s (maybe he was just the chief seater guy) wouldn’t let us push two tables together. Now I was happy to sit with whom I sat with but I wished I could talk with my old friend Max who was about as far away as possible. No go.
So just now I’m dreaming. And we’re sitting at the table at Tully’s (boo!) only this time my old friend and I are sitting across from each other. Its funny what you remember from a dream. I remember the sound of the knives and forks hitting the ceramic plates (we didn’t have ceramic plates!), and I remember the end of the conversation.
In the end of the conversation, and other than we were talking about New York in general, and my little trivia comments from when I was a co-MC at the Talking Hands Show, earlier, I don’t know what we were talking about other than it had to do with New York City and trivia.
He’s not a big Met’s fan. Ok, he kinda hates the Mets. And apparently, (remember it was a dream) we were talking about logos. And apparently, something about the top of the Mets’s interlocking NY and how it splits at the top. Glancing up from his steak, just long enough to make sure I’m paying attention, he says “Its called Al Heintzman’s Ass”!
Now its not waking up laughing, but its close. I was smiling, thinking I’ve got to google Al Heintzman! And I wonder if that’s real!?
Many people may not know that one of the early videos on MTV was submitted from Michael Nesmith of “Monkees” fame.
Mike was the cool one. Didn’t care. Has a personal fortune and didn’t care in 1981 when MTV started. He was the Monkee, who actually wrote music. Just cuz’.
He was is and will ever be – cool! He just is. He always seems to be the reality of that advertising slogan “cool, calm and collected”. Perhaps being independently wealthy gives you that option, I just think his heart beats a little slower, a step further back, a little disengaged – cool.
I just checked out this video again. I remembered liking it then. I still like it! You should check it out. Its way bad by modern terms. No quick edits. Fairly literal to the lyrics. Has the cheesiest special affects (check out that background behind him). But the girls are pretty and there is a great flow to their movements on skates that’s kind of hypnotic. The mirror affect is the worst cheese of all, but he just smiles through it.
And he’s everywhere in it, always with that “yeah, I know” grin. Its great. Should be higher on everyone’s classic video list. Check it out!
In a previous comment Kevin C asks what is it about Irish guys and right wing politics. Bill O, Hannity, P.J O’Rourke. Pat Buchanon, a practicing Catholic. Even Geraldo Rivera is half Catholic, I believe.
I think Catholics, and in particular Catholic School kids, were granted, or given, or perhaps provided upon their backsides, a structured absolutist world view. Structure. Rules were commandments! Order was maintained by people larger than you who would beat you if you didn’t do what they wanted. (When I say that out loud I realize that could be true of biker gangs too. Do you suppose bikers are fundamentally conservative? Rolling Thunder anyone?)
Perhaps if I’m an interesting person it is because my intellect which is liberal and agnostic, fights my nature which is conservative and my training which is religious.
But there is definitely something in the Catholic upbringing that helps form people whose opinions are comfortable in structured environments. I went to Catholic school for 12 years. 6 kids from my graduating class went on to become cops.
I think having clear constant consistent rules reinforced over decades probably has an effect.
I also think that education, other’s opinions, new ideas and, higher IQ (yes, I said it) challenges that kind of indoctrination particularly when it challenges the rules.
Sectarian parents who do send their kids to college, send them some place where people still think the same. I think that’s why Catholics love Notre Dame. I think that’s why Jehovah’s witnesses discourage their children from going to colleges. (That’s what I’ve heard. I can’t prove it.) (I can, however, prove Catholics love Notre Dame!) (They also love Boston College, St John’s, DePaul, LeMoyne, St Bonnie’s, Villanova … The Big East … whups!)
I think there’s something here. Structure and dogma imposed from above vs new and liberal education particularly real history, true history, the kind of history that says that Thomas Jefferson owned slaves and that Jesus was born 3 years before he was said to have been born, and he was most likely born in the summer, facts that challenge established thinking. Facts, as in archeological facts, science – real science where techtonic plates move continents, and tiny trilobite fossils actually are millions of years old! These things challenge dogma.
A person raised in dogma and structure, but with a curious mind and the ability to think abstractly and independently and let’s face it with a higher potential for learning, can use their mind to free themselves from the ingrained, embedded structures of their elementary training. Pherhaps it is easier if they break away from that structure in a non-Catholic, non – sectarian education makes it easier to break away intellectually.
Thus we have Bill Maher (Cornell) and (Doctor of Philosphy – Oxford) Rachel Maddow. Both raised Catholic.
I’d like to have a demonstration in support of Occupy Wall St in Sidney NY, but we don’t have a college or a town hall per se, or a newspaper or tv station. But this guy has a point.
I listened to Buzz Out Loud for about an hour last night, people shocked and saddened by the not surprising loss of Steve Jobs. I skipped the last two hours.
I have this thought on Steve Jobs. He made the future. I’ve seen the future from years ago, in that there would be a device some day that would do all of these things that Steve’s devices do. My problem was that I couldn’t make it happen. Steve Jobs did. The recording industry saw Napster and filed lawsuits. Steve saw Napster and changed the way we not only listen to music, but get our entertainment. And he made computing accessible for millions with elegant and artful products. He helped
So yay for Steve Jobs.
At least on that account.
But there’s also FoxConn. I heard today from Naomi Cline on “UP” with Chris Hayes that FoxConn has installed anti suicide nets! FoxConn is where the production of Apple devices happens. People at FoxConn are so stressed work under such horrible conditions (i.e. standing 12 hours a day doing repetitive tasks) that they are committing suicide in such numbers (by jumping out of windows) that “the company” has installed nets to prevent these people from killing themselves.
Excerpted from Daily Tech
Meanwhile back in the USA young college graduates cannot get jobs, are not allowed to default on their college loans (Bankruptcy Reform Act).
It used to be that the innovations in America produced jobs in America. Now American innovation includes banking trickery such as credit default swaps and slave wages in China.
In this time of Occupy Wall St, where people seem to be declaring that Americanism as we used to know it is slipping away, I think its time to say sure Steve Jobs was important. But lets put him and his production facilities under a bit greater scrutiny. And raise our voices in support of the protests down on Wall St.
Its time we had two Consitutional Amendments.
1. A corporation is not and cannot be a legal person. [It is not alive, it should not have full human liberty, and it is not capable of pursing happiness.]
2. Money is not speech. [Corporations should not have more speech than myself, just because they have more money. The "Citizens United" decision must be reversed.]
