As more details come to light on the pending restructuring of Houghton Mifflin Harcourt parent Education Media and Publishing Group (EMPG), the storyline moves from Barry O’Callaghan’s financial folly to hedge fund operator John Paulson’s perverse market triumph. (Paulson is the guy who made billions by betting the right way on the collapse of the sub-prime mortgage market, a tale told in Gregory Zuckerman’s THE GREATEST TRADE EVER and also examined in this week’s Malcolm Gladwell piece on entrepreneurs and risk-taking in the New Yorker.) Here is the picture that has emerged since yesterday’s Lunch report. EMPG confirmed that they […]
