LBO etc.

This is the kind of mails you get from your CEO when you’ve been LBOd!

As I mentioned last quarter, we are increasingly focused on EBITDA as we gauge the company?s profitability and cash flows, because we believe these metrics more fairly represent the performance of our ongoing operations, given that including interest, taxes, depreciation and amortization can sometimes obscure how we?re really doing.?

Thank goodness the LBO happened before the current crisis in the debt markets! And I just hope the buyout firms took a fixed rate loan! And to think that I’m in a division which is not exactly profitable!

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