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On March 8, 2014, Malaysian Airlines Flight 370, and its 239 occupants, took off from Kuala Lumpur International Airport with a final destination of Beijing, a journey that should have been no more than seven hours long. Not only did the Boeing 777 never make it to China, it hasn’t been seen since, and all its passengers and crew members are presumed to have died somewhere in the Southern Indian Ocean. <br/><br/>What sounds like an episode of \
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Bravo
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Bravo
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Drier and brighter today, particularly in the north and east. In southern parts, however, it will be cloudier day with rain and drizzle at times. Feeling warm, especially in any sunshine.– This is the Met Office UK Weather forecast for the morning of 11/04/24. Bringing you today’s weather forecast is Annie Shuttleworth.
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Bravo
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Hurrdat Media
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It's time to refresh your home!
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Heavy rain continues across the northwest this evening. This band of rain will sink southwards and ease overnight, stalling across southern parts through Thursday. Generally a drier and brighter day on Thursday, and feeling warm in any sunshine. – This is the Met Office UK Weather forecast for the evening of 10/04/24. Bringing you today’s weather forecast is Annie Shuttleworth.
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Staying small is working out big time for Shore Capital. Their average internal rate of return on its 14 exits, all in health care, is 53%, net of fees. That’s nearly triple the average net IRR of U.S. buyout funds raised since 2009, according to data from Cambridge Associates. After Shore took its 20% to 30% cut of profits, its exits multiplied investors’ money by 5.5 times on average, also nearly triple the average total value to paid-in capital multiple of U.S. buyout funds raised during that period. Shore has never unloaded a company for less than three times cost before fees, nor, it says, has it ever suffered a loss. “Those are top 1% returns in private equity,” marvels one investor who asked not to be identified, citing his organization’s press policy. “That’s rarefied air, right? That’s more like venture capital than a traditional buyout firm.”<br/><br/>Ishbia and his team have acquired more than 1,000 mom-and-pop shops across the country (average cost: $15 million) since Shore’s 2009 founding and rolled them up into 61 larger chains of things inclu­ding autism treatment clinics, bakeries and exterminators. “We’re buying businesses in Akron, Ohio, and Pittsburgh, and Birmingham, Alabama,” Ishbia says. “There’s more low-hanging fruit for me. It’s Joe Schmo on Main Street.”<br/><br/>Shore then invests in computer systems and equipment, stacks the businesses’ boards with industry veterans and hunts for complementary companies in adjacent markets. “We’re just buying and buying and buying,” says Ishbia, who insists Shore doesn’t take on as much debt as other private equity firms and doesn’t cut servi­ces or head count. “The private equity world gets a bad rap for ‘buy this, slash that.’ We are growth—we have almost 35,000 employees and hire thousands per year.”<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/mattdurot/2024/04/08/this-main-street-billionaire-bought-over-a-thousand-small-businesses-and-never-lost-a-dime-justin-ishbia/?sh=3140aa9e39ee<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
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Have a behind-the-scenes look at Flip Out Mittagong before it opens on April 13.
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The most powerful telescope in history. <br/>The James Webb Space Telescope's \
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In a class action settlement, railroad company Norfolk Southern has agreed to pay $600 million to people and businesses affected by their February 2023 derailment in East Palestine, Ohio. Veuer’s Matt Hoffman has the story.
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