Skip to comments.Bono's Investment Firm Still Hasn't Found What It's Looking For (Bono, Worst Investor in America)
Posted on 03/29/2010 5:50:55 PM PDT by DogByte6RER
Bono's Investment Firm Still Hasn't Found What It's Looking For
By Rachel Bailey
24/7 Wall Street recently had some strong words to say about U2 frontman Bono. Namely, based on a string of disastrous choices made by his investment firm, Elevation Partners, that hes the Worst Investor in America.
Among the companies Elevation has poured money into is Palm, maker of the unsuccessful Pre smartphone. There is a 90% chance that they go bankrupt or get acquired within a year," a hedge fund managing partner told 24/7 Wall Street. Then theres the restaurant review site Yelp, which was sued for fraud in February after reports that the company had offered to take down unflattering comments about poorly-reviewed restaurants in exchange for those restaurants purchasing ads on the site. The list goes on.
Whats next for the perpetually-sunglassed frontman? Hard to say, but as Vulture suggests, perhaps hell quit
(Excerpt) Read more at pastemagazine.com ...
He would have been better off sending all his money to African dictators.
“A Piece of Crap” was a great parody of Bono on South Park. Watch it at:
He pays no taxes because his companies have a nifty loophole through Holland or the Isle of Man where he pays no taxes.
Yet, he still loses on his investments. What a piece of crap!
I would like your business perspective on this.
Oh, this so TOTALLY made my day! Thank you!
Me, a dopey little serf that you’d never pick out in a line-up of Little Old Ladies is making money hand over fist in commodities these days...while someone as SMART and as COOL as Bono is losing his shirt?
I. Love. It. :)
Hey, Bono! Mama made $13K today while she was workin’ her slightly-above-minimum-wage job for the health insurance benefits, alone.
Pass the caviar and champagne, Loser. *Rolleyes*
“Bono Becomes The Worst Investor In America”
Palm was yesterday's big thing, now surpassed by its successors. Ironic enough for ya?
I hate it when I read crap like that. I love my Pre.
He’s probably so blinded by his fashion ideology, he would never consider 70% of companies that might actually make him some money. I would imagine whole sectors such as oil, insurance, food, commodities are off his list because they are not politically correct, or simply not “cool.”
All U2 dodge Irish taxes by their corporation being domiciled in Holland. Bunch of hypocrites and their music sucks. Peter Gabriel is just as much to the left but has put out more likable tunes than U2. Biko is an amazing tune even though I don’t go for its politics
I like my old Treo too, but PalmOS is dying. Palm coasted too long.
Is he still holding Al Gore GWG? (Global Warming Greenies)rhetorical
I used to like Bono. Then I read about his hooting over his disdain for President Bush - refused his handshake or his hug or whatever it was? After Bush had cooperated so fully with his AIDs in Africa campaign.
I was disappointed and disillusioned, and think very poorly of him now.
I like my Treo too...hard to think about what kind of smart phone will replace it..
Always number 2!!
I use a Nokia E63 these days. The Treo has a superior PDA, but the Nokia is far faster on Net access. (Gotta have my mobile freeping!) Also, it’s kind of nice not having to reset five times a day. ;^)
Who’s Bono? Wasn’t U2 a spy plane?
The Pre and Pixi run WebOs, not the Palm Os. WebOs now has an emulator to let you run legacy Palm apps, but they are not the same. So I have to think you don’t know much about Palm presently.
I think he was married to Cher.
OH! Thanks. I think.