FT Opening Quote – Carillion questions over exec bonuses

Carillion’s collapse and liquidation are set to have more repercussions today – and provoke more recriminations. Among the more astonishing facts to emerge yesterday was that not a single direct employee had been dismissed from the construction group. “Everyone is still on the payroll,” said the Official Receiver on Monday – including, it would seem, former boss Richard Howson, who stepped down last July but will keep receiving his £660,000 salary and £28,000 of benefits until October. Continue reading: FT Opening Quote – Carillion questions over exec bonuses

PE-backed Dyehard Fan Supply acquires sports merchandising company All Pro Championships

Dyehard Fan Supply, which is backed by Teall Capital, has acquired the assets and business of of Louisville, Kentucky-based All Pro Championships, a sports merchandising company. No financial terms were disclosed. PRESS RELEASE WINSTON-SALEM, N.C., Jan. 15, 2018 /PRNewswire/ — Dyehard Fan Supply, an event and retail merchandise experience and e-commerce company formed and managed by Teall Capital, has acquired the assets and business of Louisville, Kentucky-based All Pro Championships, a sports merchandising company. The purchase of All Pro marks Teall Capital’s third acquisition in recent months as part of the formation of Dyehard. Teall Capital, a private equity company based in Winston-Salem, NC; Atlanta, GA; and San Francisco, CA, created Dyehard Fan Supply in late 2017 with Team Retail Solutions as its first acquisition followed soon afterwards by the acquisition of Sports Entertainment Events Merchandising (SEE Merchandising). With the three acquisitions and anticipated additional investments, Dyehard
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HSH Nordbank suitors J.C. Flowers and Cerberus to begin exclusive talks: Reuters

The state owners of Germany’s HSH Nordbank [HSH.UL] on Monday agreed to exclusive talks with potential buyers J.C. Flowers and Cerberus as long-running attempts to privatize the ailing bank near conclusion, three people close to the matter said. The buyout groups were given roughly two weeks to negotiate a deal with the German regional states of Schleswig-Holstein and Hamburg, which hold 89 percent of the bank, one of the sources said on Monday. J.C. Flowers, which owns 5 percent of HSH, and Cerberus submitted a joint bid with a headline price of more than 700 million euros ($860 million), a person familiar with the matter had said last week. It remained unclear what conditions were attached to the offer, including how a state guarantee against future HSH losses will be treated, the sources said. Bawag (BAWG.VI), still 35-percent-owned by Cerberus after the Austrian lender’s 2017 IPO,
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Bushman [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
Bushman I immediately recognized the Dustin Yellin at a distance, as we have become friends, and he even gave me a glass rocket!

aortic sprinkler [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
aortic sprinkler I immediately recognized this pneumatic LVAD from my Bain & Co. days.... but not with this attachment. Thoratec made cardiac assist pumps that run in parallel with the left ventricle.

Not sure what it is called, but it could be an aortic sprinkler

sleepwalking [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
sleepwalking before the Pilkington float glass process (on a bed of molten tin or mercury), it was hard to make window glass. If you pour molten glass onto a flat surface to let it cool, you end up with warped puddles of wrinkles, like this

Yutta and Pilat — Space Artifact Painters [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
Yutta and Pilat — Space Artifact Painters Yutta is making a big debut at the Untitled Art show, with her painting of my Apollo IMU ball.

Pilat, with microphone, painted an adult-sized version, below. I am excited to be a new buyer of her art, and Yutta's first sale!

Here is a fun video of Yutta and my IMU ball from the Apollo Command Module (only 2-axis gyros, the root of gimbal lock versus the 6-axis sensors in all of our phones, built on Silicon with MEMS). And here here is a video of Pilat at work on the same still life subject.

Note huge fireplace hearth behind her. Did not expect to see that in the Palace of Fine Arts. Pilat is at www.agnieszkapilat.com

Golden Gate Bridge Snow Storm by Globe Robot [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
Golden Gate Bridge Snow Storm by Globe Robot My favorite from the Untitled Art Fair this weekend: the snow ball on the left gets a rotary shake every once in a while and the macro zoom camera projection of the screen shows the Golden Gate bridge getting engulfed in snow flurries from time to time. Here's a short video I took.

fill in the blank [Flickr]

        <a href="https://www.flickr.com/people/jurvetson/">jurvetson</a> posted a photo:
fill in the blank I mentioned to Gen Gen that if she stood there, she would complete the pink sentences.

The artist overheard me and said that was adorable.

The one on the right is Binary Star, 2016 by James Clar

PE-backed Burton Saw and Supply merges with Simonds International

Burton Saw and Supply, a portfolio company of Pfingsten, has merged with Simonds International, which is backed by Ironwood Manufacturing Fund and Nautic Partners. No financial terms were disclosed. Brown Gibbons Lang was financial adviser to Burton Saw and Supply and Simonds International on the transaction. The newly combined company will serve as a producer of cutting tools, related equipment and consumable products for the wood processing industry. PRESS RELEASE Chicago, Illinois – January 11, 2018 Pfingsten announces the merger of its portfolio company, Burton Saw and Supply, with Simonds International, a portfolio company of Ironwood Manufacturing Fund and Nautic Partners. The transaction creates the leading producer and marketer of cutting tools, related equipment and consumable products for the wood processing industry. The combined entity will continue to leverage the Burton, Simonds, Cut Technologies, BGR, Armstrong, Wright, and Global Tooling brands and operate in the United States
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Links for 01-15-18

Colorado Startup Summer

Every entrepreneur starts her journey somewhere. Colorado is a premier location for entrepreneurs and innovative thinkers. This is why I co-founded and commit a portion of my time to Startup Colorado; an organization that empowers and sustains startup communities across Colorado. One of the programs that Startup Colorado runs – called Startup Summer – cultivates and engages undergraduate entrepreneurs looking to get involved in the Front Range startup community. Startup Summer is an immersive 10-week program that includes weekly seminars from local entrepreneurs who teach the fundamentals of entrepreneurship. The student entrepreneurs form teams and build companies while receiving coaching and mentorship from alums of the program and local entrepreneurs, culminating with a pitch competition. The program admits 50 student entrepreneurs from around the country, bringing together different backgrounds while exposing them to the Front Range startup ecosystem. Startup Summer is now in its sixth year. All internships are paid.
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