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The Boston Globe Boston Capital Column.
Knight Ridder/Tribune Business News, July, 2003
By Steven Syre, The Boston Globe Knight Ridder/Tribune Business News
Jul. 3--God only knows how many people imbued with excessive confidence and a competitive nature have lost a few dollars on the golf course. Henry Kravis blew something over $400 million in Chicopee.
Kravis and his associates at Kohlberg Kravis Roberts & Co. lost big on their leveraged buyout of Spalding Sports Worldwide Inc., owner of the Top-Flite golf brand among others. The seven-year fiasco neared a final chapter this week when Callaway Golf Co. agreed to purchase the bankrupt golfing business for $125 million.
The KKR ac...uisition actually led to losses approaching $1 billion, if you throw in money loaned to the investors and more debt assumed from the previous...
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