The New York Times notes that the Carlyle Group for the longest time had a PR problem. It was seen as the "ultimate Washington insider" with ties to the government, business and the military. Business Week once likened it to a firm right out of a Grisham novel. For me personally, the hiring of Lou Gerstner, ex-CEO of IBM, in 2002 as chairman was a big sign that the firm wanted to put itself on a new course. He replaced Frank Carlucci, Defense Secretary during the Reagan Administration. But you have to wonder, as does the Times, if the firm's deal for the government contracting side of Booz Allen Hamilton will revive its old image. Probably not. The fact is that deals are hard to come by these days, and government contracting is in major growth mode.  

For more:
- here's the New York Times article

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