As someone who has worked in private equity for the last 24 years, I understand the negative comments as most folks are only familiar with the failures and misdeeds by some unscrupulous firms because that’s all that makes the evening news and headlines. I work for a firm that invests pension money in private equity funds and the returns (which have outpaced the public markets) we have generated are going to pay the retirements and health care of hard-working everyday people. I can tell you from first hand experience that the majority of the private equity managers are interested in growing businesses and helping them succeed, and sometimes that does involve cutting costs to become more efficient. Unlike most of Wall Street, PE managers invest a significant portion of their own wealth alongside investors so that interests are appropriately aligned. As a specific example, you might be familiar with the company 80/20 which makes aluminum extrusions. They were purchased by a private equity firm a couple years ago as the founder was looking for growth capital and to professionalize the management of the company as part of a sucession plan. The company has flourished under the new ownership. I don’t know Doug Starrett but I know that he is 69 years old and probably looking to retire. There may not be another family member or obvious heir apparent to take over the company and he may be looking to partner with a private equity firm to develop such a plan. I would encourage folks to educate themselves a bit before making blanket disparaging comments about an entire industry.