One for the sharp-pencil readers: Blackstone's sweet tax deal
Published: July 13, 2007 at 9:12 AM
Well, if the sharp pencil guys taketh, the sharp pencil guys can giveth, too. Check out today's "Must Read" from Josh Marshall's outstanding blog, Talking Points Memo:
Blackstone, of course, is NBC Universal's partner in the Universal Orlando Resort and the primary investor in Merlin Entertainment Group, the owner of the Tussauds and Legoland theme parks.
The gist of the article? That Blackstone eventually will get tax deductions worth more than the multi-billion tax bill it paid by going public last month. Why? By writing off the eroding value of its companies' "good names" after the companies' sale.
Hey, maybe the "sharp pencil guys" on the site can explain it. ;-)