From the Fool:

Investors Warn of ‘Rot in Private Equity’ as Funds Strike Circular Deals

discussion.fool.com - Right hand sells to left hand books profit

We saw this sort of "engineering" 25 years ago: Enron wannabes would daisy chain sales of power, and ramp up their revenues as fast as they liked. Worldcom wannabe broadband network operators had an even better scam: selling Indefeasible rights of use, aka IRUs. The selling company would book all the proceeds of the sale as current revenue, while the buying company would capitalize the cost over years. *presto* instant profits, to go with the soaring revenue, as they bought and sold network capacity around their daisy chain.

For those who missed it, Office Depot has been sold to an PE group. Will the PE group loot it, or daisy chain sales, as described in the article Wendy posted? And the curse of Steve continues: pump seal company circled the drain until it was bought out. RS went BK, twice. OD circling the drain. Workplace Integrators liquidated.

The past place I worked made the local news over the last few days.

Metro Detroit moving company employee accused of stealing $215K through fake debit cards
Deborah Beaudoin facing wire fraud charge

clickondetroit.com - Metro detroit moving company employee accused of stealing through fake debit cards

The CFO that was at Rose, when I worked there, was fired for doing something scummy several years ago, but I never heard exactly what. Deb was the assistant to the CFO.

Steve