Accountancy Age – off to pastures new

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The FT reports this morning that VNU is to get the private equity treatment now that's its been owned by that sector for six months. This is short hand for mass sackings. In the old days we used to call this asset stripping. Now its people stripping. In either case it amounts to much the same thing: the unacceptable face of capitalism that fails to add value to society but in the process expropriates more of its wealth to the already well off.

Amongst those who might come off lightly (I hope) are the profession's friends at Accountancy Age, of whose fate the FT reports:

Separately, VNU confirmed the sale of its European business media division to 3i, the buy-out group. No price was disclosed but the deal is thought to value the division at about €320m.

One wishes them a good New Year. Free, I hope of any private equity treatment to justify the price tag.