Blackstone

10 Stories

Famous Budget Hotel Chain Scooped Up for $525M

Purchase is latest move for India-based Oyo, which has been expanding in US since 2019

(Newser) - Motel 6 has 1,500 or so locations sprinkled throughout the United States and Canada, and now a hotel giant from India is about to take over. The Wall Street Journal reports that Oyo has agreed to buy the budget motel chain for $525 million from parent company Blackstone, as...

Crichton's Books Written as 'John Lange' See New Life

Blackstone acquires rights to 8 early novels in 7-figure deal, will publish new editions

(Newser) - The early writings of Michael Crichton look destined for the big screen following a seven-figure deal announced Tuesday. The late Jurassic Park author's estate sold the worldwide print, e-book, and audiobook rights to Crichton's first eight novels—unconnected pieces of fiction across various genres, written under the pseudonym...

Morgan Stanley to Bar the Unvaccinated

Only fully vaccinated people will be allowed inside New York offices starting July 12

(Newser) - Investment bank Morgan Stanley plans to lift mask and physical distancing requirements in its offices next month, but only after banning unvaccinated workers, clients, and visitors. The company told its workforce on Tuesday that employees and clients who are not fully vaccinated against COVID-19 will be unable to return to...

3 Dead Infants Found in Squalid Mass. Home

4 children had been removed from Blackstone home 2 weeks ago

(Newser) - The bodies of three infants were found in a now-condemned, vermin-infested Massachusetts home yesterday, two weeks after the state removed four children from the place, the Boston Globe reports. "We do not have the genders of the infants yet, we don't have the manner and cause of death,...

Feds Seize Florida Bank in $4.9B Bust

BankUnited sold off to private equity consortium

(Newser) - Florida's BankUnited went bust yesterday as the FDIC seized the critically undercapitalized bank and sold it off to a private-equity team including Blackstone, reports the Wall Street Journal. BankUnited's troubles stemmed from overeager moves in the housing market. It specialized in loans for foreigners wanting to buy Florida property. After...

Hedges, Private Equity Funds to Invest in Bailout

TALF program could see very rich outfits get even richer

(Newser) - With its highly touted TALF program to spur consumer lending, the government is undertaking a $1 trillion effort that hinges on the participation of some unpopular outfits: hedge funds and private equity firms. As the Washington Post reports, the Fed and Treasury's "public-private partnership" relies on investment from the...

WaMu Looks to Private Equity as Bank Teeters

Blackstone, Carlyle in talks after overtures to other banks flop

(Newser) - Washington Mutual is hoping private equity will save the bank after its efforts to broker a sale to another financial institution came to nothing. Both the Carlyle Group and Blackstone are considering a takeover of WaMu, insiders tell the Wall Street Journal, although a deal is not yet assured. Many...

Dow Dips Below 13K
Dow Dips Below 13K
Nov 12, 2007 3:38 PM CST

Dow Dips Below 13K

Markets seesaw, close down

(Newser) - The Dow closed below 13,000 today after seesawing on bad news from the financial sector and falling oil prices. The Dow finished at 12,987.55, down 55.19, after E*Trade said further mortgage-related write-downs might come—and its shares dropped 56%. The Nasdaq slid 43.81 to close...

Blackstone Pushes to Delay Tax Increase Bill

If measure won't die, buyout giant wants 10-year grace period

(Newser) - If Blackstone and other buyout firms can't kill a proposed bill that would increase their taxes, they'll try for a 10-year delay in enacting it. Under pressure from lobbyists, lawmakers are discussing doubling the proposed 5-year grace period, Bloomberg reports. The legislation, introduced before Blackstone went public in June, has...

Blackstone Lobbying Backfires
Blackstone Lobbying Backfires
Sep 21, 2007 8:10 PM CDT

Blackstone Lobbying Backfires

Private equity firms ‘overreach’ with claim they help the poor

(Newser) - Private equity firms launched their first coordinated effort at lobbying this year—and overshot by a long stretch, Bloomberg reports. Blackstone and 11 other firms joined hands to fight a tax hike on carried interest—fund managers' share of profits—and have gone so far as to argue that the...

10 Stories