Projections Used In An Auction Process
Bullish financial projections do not attract a higher price for a business. In fact, they speak to lack of credibility of the vendor and their advisers and potentially damage the functioning of the auction.
Informal Creditor Restructurings – Don’t Negotiate
Informally restructuring a balance sheet is not about a series of individual negotiations. The real work is to establish guiding principles and to convince creditors the process is being rationally and fairly handled. If successful, the proposal itself is just math.
Focus on the Engine in a Turnaournd
When a company is in trouble, management must side-step the external stresses and focus more on core profit generating activities.
Practical Advice for Raising Early Stage Venture Capital
Inside is an article in HBR containing practical advice on the process of raising early stage VC money.
Who Are Your M&A Advisors?
“The Goldman Four were unsupervised, inexperienced, incompetent and lazy investment bankers who were put on a transaction that in the scheme of things was small potatoes for Goldman.” – NYT