Nouriel Roubini's Trying To Sell His Firm (And It's Losing Money)

roubini

Photo: ap

CNBC reports that Roubini Global Economics — the global investment research firm begun and chaired by economist Nouriel Roubini — is up for sale.RGE has been losing money, despite the popularity of its namesake.

CNBC cites sources who had been approached by an investment bank conducting an auction for the firm. Potential bidders were evidently asked to submit a range that they were willing to pay.

Sources also said that the company will lose about $2 million this year, with revenue of about $14 million. It is unclear who would want to purchase RGE.

Roubini, who is currently in Korea, did not immediately confirm or deny this report.

A few more facts on RGE:

– It has 85 employees.

– Its primary customers are corporations.

– It predicts 8% revenue growth next year and 40% revenue growth in 2013.

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