On the Block

Have a few extra hundred million dollars burning a hole in your pocket? Our parent company, ALM, may be for sale. Its owners, the private equity firm Wasserstein & Co. (yes, that Wasserstein), has retained investment bank Credit Suisse to explore "various strategic alternatives" on its behalf, "including the possible sale of the company," according to a press release yesterday.

Why now? "ALM’s established ten-year track record of success, its pre-eminent market positions and the attractive environment for business information assets have combined to make this an opportune time to explore our alternatives," said Anup Bagaria, vice chairman of Wasserstein & Co. in the release.

Ironically, Credit Suisse is the bank LT wrote about earlier this week in a story by Tony Mauro. Justice Anthony Kennedy's son is a managing director for the firm, which ostensibly led the elder Kennedy to bow out of a case involving Credit Suisse on Tuesday. Although perhaps that isn't truly ironic, just Alanis Morissette ironic.

Or if you don't want buy a fully vertically integrated media company, you could always just blow it in Vegas on blackjack and bourbon.