Roubini Global Economics, the global investment research firm co-founded by economist Nouriel Dr. Doom Roubini, is reportedly for sale as it continues to lose money, according to a report from CNBC's David Faber.
The report indicates that RGE, as it's known, is projected to lose $2 million this year on revenues of $14 million, prompting the company to look for interested buyers, despite a projection of 8 percent growth in 2012 and 40 percent growth in 2013.
RGE has more than 85 employees.
Roubini, who is still chairman of the firm, has been in South Korea, has not returned calls and a spokesman at the firm declined to comment.
RGE Seeking Bid Ranges
Interested parties have been asked to submit bid ranges; the asking price for the company is unknown.
Roubini, a professor of economics at NYU's Stern School of Business who four years ago accurately predicted the global financial crisis, founded the company in 2004 to enhance the economics discussion by policy leaders and fellow economists.
Living up to his Dr. Doom moniker, Roubini continued his bearish stance Monday, arguing:
My own analysis suggests that the U.S., the Eurozone, and the UK are going to end up in a contraction -- whether you call it a double dip or a continuation of the first dip is just semantics -- by Q4 or Q1, we're going to be there. Certainly, we're there already in terms of economic contraction in the peripheral of the Eurozone - and soon the core will be in an economic contraction, Roubini told Foreign Policy. The question, in my view, is not whether we're going to have a double dip, but whether it's going to be a plain-vanilla recession or one as severe as the last with the financial crisis.