The Only Thing Worse Than A Backhanded Compliment Is A Crabhanded One

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LAST month, as Henry R. Kravis, the co-founder of Kohlberg Kravis Roberts & Company, and his wife, Marie-Josée, took their seats at the Water Cube in Beijing for a session of synchronized diving at the Olympics, they quickly recognized a couple sitting nearby: Stephen A. Schwarzman, the co-founder of the Blackstone Group, and his wife, Christine Hearst.
For a brief moment, there was an awkward pause as the longtime rivals took stock of each other. Then both men cracked smiles, and Mr. Schwarzman extended his hand, congratulating Mr. Kravis on his latest move: an attempt to take K.K.R. public despite a stock market mired in uncertainty and fear.

What Does Henry Kravis Want? [NYT via City File]

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