Guy Hands and EMI

When I wrote about the decision of Guy Hands's private equity firm Terra Firma to buy EmI for Bloomberg, I got chewed up by his PR man at Financial Dynamics for suggesting it wasn't a fantastic deal. So it was interesting to see in the FT today that Terra Firma have written off half what they paid for the business. No doubt they will blame that on the credit crunch. But last time I checked, CD sales were actually rising. So maybe it was just a bad deal.