Trapped

In my skin. Sometimes it feels this way.

So despite the gloom and doom and blah blah, private equity has cashed in a record amount of dough : the value of companies sold by pe firms worldwide reached $85 B since April (data from Preqin) - this exceeds the record deal volume of Q4 2010 when the industry sold out of 325 companies worth $81.3 B. Give or take. The exits driven by European deals, mostly, and the re-emergence of strategic buyouts which bought most of the bigger assets that were up for sale. Exhibit 1. Takeda Phama of Japan buys Nycomed from Noric Capital for $14 B. Exhibit 2. Microsoft buys Skype from Silver Lake for $8.5 B. So what gives ?

Well, firstly, a combo of factors like a greater availability of debt financing and cash-rich strategic buyers. But consider this : most private equity firms avoided fundraising after the collapse of Lehman Bros in '08 since few traditional fund owners had appetite or cash for new commitments. Now managers see their mgmt fees decline after the typical 5-year investment period when they are paid full freight. These guys need to show investors that they can make money if they wish a shot at another partnership. + more fees. And so the exits.

The next five years will see a clearing out of middling managers unable to raise more money. There is already an industry overhang of $500 B of capital ion Europe alone which of course hurts returns. Only the strongest franchises and freaks will survive.

Brother's In The House

President Obama arrives in London from Dublin, 12 hours ahead of schedule, as the skies cover with volcanic ash. Same as it ever was. Here Obama reacts to Irish Prime Minister Enda Kenny's gift of a "Hurley stick" . Obama tells Kenny that the U.S. and Ireland share a "blood link" that extends beyond strategic interests or foreign policy into the hearts of the millions of Irish Americans who still see a homeland here. 40 million in the US call themselves "Irish American" which is interesting as Ireland's population less than 6 million.. and shrinking given Ireland wrecked its economy requiring a bailout by the Germans and yours, truly, a British tax-payer. But let us not dwell on that. Today it is about the Dutch and Dutches of Cambridge then the Queen. Photo from AP.

"A hurley (or camán) is a wooden stick used to hit a sliotar (leather ball) in the Irish sport of hurling. It measures between 70 and 100 cm (28 to 40 inches) long with a flattened, curved end (called the bas) which provides the striking surface. It is also used in camogie, the female equivalent sport."

--Wikipedia

Any Night Out

Me: "So what do young people wear to the bars these days?"

Aneta: "Young people?"

Me: "Yeah, like the boys. What do they wear?"

Aneta: "There are men. And there are boys. The men wear suits."

Me: "What do the boys wear?"

Aneta: "I don't know. Maybe jeans I think."

Me: "And what do the girls wear? Dresses?"

Eitan, backseat: "Dad!"

Aneta: "They no wear dresses. It more like shirt. Over bottom."

Eitan: "A mini skirt!"

Aneta: "I see no skirt. And high heals - they walk not so well. And lots of make up."

Me: "And how about drinking? Do they drink too much?"

Aneta: "Oh, yes, it horrible. They lie in the street."

Me: "They do?"

Aneta: "Yes, the girls lie in the street. Sometimes boys too. It horrible"

Me:

Woody Guthrie

Today is Bob Dylan's 70th - we all know that - so I celebrate his music by listening to folk-singer and political whisperer Woody Guthrie, pictured. Guthrie's music from the first half of the last-century but his influence on the second-half why he is remembered today. Guthrie's musical legacy includes hundreds of political, traditional and children's songs and ballads - most famously, "This Land Is My Land Is Your Land." He frequently performed with the slogan "This Machine Kills Fascists" displayed on his guitar. As Cornel would say, "A Berkeley brother." Dylan was listening.

"You can either go to the church of your choice
Or you can go to Brooklyn State Hospital
You'll find God in the church of your choice
You'll find Woody Guthrie in Brooklyn State Hospital

"And though it's only my opinion
I may be right or wrong
You'll find them both
In the Grand Canyon
At sundown"

--Boby Dylan, "Last Thoughts On Woody Guthrie"

Dad Wigs Out

Sunday. Sonnet off to the museum to research ball room gowns or Italian fashion. I am with the Shakespeares and a bit on the rough w/ the crew I confess, pictured. 

Maybe it is because my day starts with Rusty breaking his lead and bounding across the Upper Richmond Road, which is also the A205 and also the "ring road" , for the Cafe Nero to terrorise staff and customers. I race into Nero to see the dog jumping up and down frantically trying to sink his teeth into an almond croissant. An audience watches me beat the pooch down and drag him yipping onto the sidewalk (Madeleine: "Maybe I will go home now"). Or maybe it is because I have not had coffee this week-end. 

Either way, I find my excuses to Lay Down The Law and show the little monsters who is master of them. I make the kids draft a chores sheet, which Eitan re-writes 2X and Madeleine 3X (He, grudgingly, she despairingly, respectively). They sign and date the document which I counter-sign - it goes on the inside kitchen cupboard next to the dog-pledge. 10-hup!

Sonnet walks in the door as I hear fighting : "Get out of my room!" (Madeleine); "Well then give me my book!" (Eitan). Must .. . show . patience. Must.. not strangle. them.. as . they are. little people . ..

Trophy

Eitan earns a trophy for most goals scored for KPR this season - 15. The "Player's Player" award to Robert, the hardest working kid on the squad, and Coach's Player goes to Joe - who Eitan and I heartily agree deserves the recognition. Personally I think Maxime The Goalie owed some copper. Without Maxime the lads would have been lost. The kid went horizontal more times than I can recall saving sure-goals and keeping KPR in many a game they shouldinta. While season #2, Div 1, mostly a disappointment - the team in 2nd place until season's end then 6th following a "rough patch" (as Coach says) - today's BBQ wrap-up (with all the KPR squads from under-8s to 18s) w/ free beer and burgers puts everybody in a good vibe. The clouds lofting by spell rain but it does not ruin the afternoon.

Sonnet Turns A Year

Sonnet looks better than the day I met her, June 6, 1993. Seeing that I don't have a birthday gift for her, Madeleine steps in to make things right and buys me a candle; she rolls her eyes in disgust when I refuse to wrap it. Otherwise Sonnet's day spent at yoga and the hairstylist where her gay coiffeur fills our darling in on all the local gossips. Eitan makes a "Happy Birthday Mum" birthday cake, pictured. We now sit around the living room watching a movie - "Julie & Julia" about Julia Childs. Sonnet's pick.

Sonnet says "I've had a great birthday. Thank you family."

Skate Rat

Madeleine adroit with her board, which she has owned for a couple of years.

I hum "Mrs. Robinson."

Sonnet: "Is that my birthday song?"

Eitan makes a birthday cake that doesn't work out.

Me: "I could have used it for bricks in the backyard."

Eitan: "It wasn't that bad, Dad."

Me: "It's a good thing I didn't chip a tooth."

Eitan: "Yeah, well, I ate some of it this morning. It was really good actually."

Me: "Do you have any teeth left?"

Madeleine: "I want to make a cake for mom!"

Eitan: "I am going to make another one. Can we go to the store?"

Madeleine: "You always get to do things! I want to make a cake, too."

Me: "Madeleine, this is the first time you have mentioned baking a cake for today."

Eitan: "Do we have any ricotta cheese?"

Madeleine: "It is so unfair."

Eitan: "Or plain chocolate? What is that - like, not milk chocolate?"

Me: "I don't know. Madeleine I would love for you to cook but today Eitan has the kitchen."

Eitan: "How many eggs?"

Me: "Would you knock it off? Look, you can bake whenever you wish. Let's plan something."

Madeleine: "Ok. Can we go to the High Street so I can get some football boots?"

Me:

Sonnet Lays One On

Richmond Sunset

And Friday again. Another week under the bridge. And why? Maybe as simple as the pooch - a scratch behind Rusty's ears and it all kinda makes sense.

Me: "What are your goals any way?"

Madeleine: "I don't know."

Me: "Well, what do you enjoy doing?"

Madeleine: "I like looking at bugs."

Me: "I get that, but what excites you? What gets you out of bed in the morning?"

Madeleine: "Well, first I get bored. Then I am hungry."

Me: "We don have to have goals but it sure makes life more interesting. Let's have a think about this for a while and come up with some ideas."

Madeleine: "Ok."

Skeptical

I pick up Madeleine from school.

Me: "How was your day?"

Madeleine: "Fine."

Me: "More than one word please."

Madeleine: "Very fine."

Me: "What did you do?"

Madeleine: "We had our first day of school council."

Me: "That's cool."

Madeleine: "I proposed to change the school song, which is really boring, to something new."

Me: "Neat. Like what?"

Madeleine: "I don't know. Just something that is not rock and roll because adults don't like it."

Me: "Good idea."

Madeleine: "So I said Elvis Presley"

Me: "Do you think they are going to go for it?"

Madeleine: "Well, Mrs. X looked at me kind of funny. So probably not."

Me: "Do you know what 'sceptical' means?"

Madeleine: "Dad, I am trying to read. Just leave me alone."

Me: "Fine. Just tell me what it means."

Madeleine: "Dad . ."

Me: "It means 'having doubt.'"

Madeleine: "Ok, Dad, now leave me alone."

Me: "Use it in a sentence."

Madeleine: "I am skeptical that you will ever leave me alone."

Me: "Works."

Life Repeats

1976 - I think. Please note the plaid pants. This puts me about Madeleine's age.

How did that happen ?

Samuel Wanjiru RIP

The world may have lost its greatest marathoner, who you have probably never heard of. Samuel Wanjiru died after a fall from the balcony of his home in Nyahururu, Kenya at 24. Wanjiru the first Kenyan to win a gold in the marathon, which he did in Beijing, in 2:06:32 despite 29C temperatures. Wanjiru also won London (2009, pictured), Chicago (twice) and Fukuoka, Japan. He was the youngest man, at 23, to win four of the world's major marathons and he did it in style : Wanjiru's London time of 2:05:10 suggested that he would one day own the great Haile Gebrselassie's World Record of 2:03:59. Haile 35 when he lined up in Berlin to set the standard, an age, Dear Reader, generally thought to be the peak for long-distance running. In the athletic community, the whisper that Wanjiru might have a legitimate shot at The Holy Grail : sub-2-hours. We shall miss him in London next summer.

IMF WTF

Dominique Strauss-Kahn, until yesterday the head of the IMF which, you know, is bailing out Greece as I write this, charged with sexual assault, forcible confinement, and attempted rape of a hotel maid.

Hair Job

Sonnet's morning routine fascinates me - indeed, I live with a woman. She allows me to post this photo btw.

Word on the playground that my vampire a success : "spooky," and "scary" and even "creepy" are the words that get back to me. Sonnet worries that I may have given the children nightmares. Hope so. Eitan informs me that he was embarrassed but then I overhear him tell Auntie Katie that he "was proud" of my story-telling. A high complement. Eitan's teacher asks me to return for an encore.

Le Count

So today, a vampire. The kids' school doing "story week" so Eitan's teacher has me in the classroom, little does he know. I'm stumped for an idea until last night then,voila, it strikes me : "Twilight" (even if the little monsters not supposed to see the movie since rated 18 - they have, and Madeleine gives me a "thumbs up"). So I open Party Palace costume store to buy a cape and faux fangs (chewing gum holds them in place) and loosely retell Bram Stoker's tale relocating the plot to the bayou. I use the first-person to suggest that I recount a true thing - kidnapping, bloodletting and etc, all on a business trip to Monsieur de la Bloodfern's Louisiana estate. Half way into the story I pull down the drapes, light a candle, pour red-dyed water into a glass (blood), put on a cape and switch to .. Count Dracula , complete with snarling and hissing. Kids enthralled. Eitan mortified. Eitan's teacher on the edge of his seat. It all works and, once again I think, "I am in the wrong profession."

As an encore, I bring back "Kit Kat Cowboy" who checks in on his cow gals and cow pokes to make sure everybody happy and working hard.

Dear Grace : you would be proud.

The Many Faces Of Dad

Me: "Walk the dog."

Madeleine: "My plan is doing some reading."

Me: "I've walked Rusty twice today. Your turn, kiddo."

Madeleine: "I am supposed to do reading for my school homework. If you give me a lolly I will walk Rusty. And no reading."

Me: "Nicely negotiated. How's this: Walk the dog. Then reading. No lolly, followed by bed."

Madeleine: "That's not a deal, Dad!"

Me: "That is the only deal. Now get going."

Madeleine: "And you say negotiating is supposed to be fair."

M & S

Indeed.

The venerable Marks & Spencer draws complaints for its national campaign, pictured. This one of 8,000 ads over the past three years which have prompted complaints because of their effect on children, says the Advertising Standards Authority.

Self Portrait XVII

While on red . . . .

Madeleine has a hard time with the 7AM Sunday swim-practice. Madeleine likes swimming but is not a morning person which makes me think of our other night owl Katie who somehow endured all those early AM workouts at King pool. Poor kid. Anyways, Sonnet notes age-9 a difficult moment for many future Olympians - the sport's demands increase yet the competitions not for another year or so. Many kids drop out at now - all this work and for what?

Me, I love that Madeleine swims and I know her big, powerful, body will make her competitive. Swimming also one of the few sports in the UK that women may pursue without a ceiling. Exhibit A: football. Our gal has been in the pool since age-3 and the structure has snuck up on her. She has never really decided about it and so she must. But it will not be over Sunday practices. This, Dear Reader, part of the package: swimming and morning workouts like bread and jam.

Red Shirts

Madeleine and I share a goof before going to Stephen and Jennifer's party. Today is Jenn's 40th and their newborn, Sabrina, christianed.

Eitan and I run the Richmond Park 5K. One fella gets a tee-shirt for having completed the race 100 times. Eitan tells me confidently: "I want to be in the top-third" and so we give it a go. Unfortunately my body arthritic from the two marathons in '09 so racing no longer a joy - my Achilles let me know who is boss. I'm still able to keep a step or two ahead of the boy until the final end, when he throws in a gear and races another kid who nips him at the gate. Good lesson. Eitan's time: 21 minutes or 6:45 per mile.