Orthogonal: A Word to Remember
You say “hockey stick projections,” I now say “orthogonal projections.”
Category Archives: The Personal Side
New York’s Largest Corporate Dissolution | AriZona Iced Tea
Buy-sell agreements are critical corporate documents. I’ve said that many times and in three books on the topic. This post is about a case in which the parties did not have a buy-sell agreement. They were involved in litigation over the buyout of one 50% owner (not in management) by the other (in management). There was a trial and, following the trial, a private settlement. I was involved in the case and so now am providing an analysis of the case.
New York’s Largest Corporate Dissolution | AriZona Iced Tea
Buy-sell agreements are critical corporate documents. I’ve said that many times and in three books on the topic. This post is about a case in which the parties did not have a buy-sell agreement. They were involved in litigation over the buyout of one 50% owner (not in management) by the other (in management). There was a trial and, following the trial, a private settlement. I was involved in the case and so now am providing an analysis of the case. The text of the analysis begins:
After several years of litigation involving a number of hearings and trials on various issues, a trial to conclude the collective fair value of a group of related companies known as the AriZona Entities occurred.
The Court’s decision in the AriZona matter was filed on October 14, 2014. I have not written about the AriZona matter because I was a business valuation expert witness on behalf of one side. The parties recently closed a private settlement of the matter, so there will be no appeal.
When is the Right Time for Management Transition?
When I read about Uber’s most recent financing, which valued its equity at $51 billion, I thought about FedEx Corporation, a Memphis-based company. I then wrote a blog post titled Uber Market Cap of Equity Exceeds that of FedEx. This past week, my thoughts about FedEx turned towards AutoZone, another Memphis-based company, as well as […]
Top 10 Takeaways from National Speakers Association 2015 Conference
A good friend and nationally known speaker, Don Hutson, invited me to join the National Speakers Association way back in 1997. NSA conferences are just about the only non-appraisal related meetings I attend. Last week, I attended the 2015 annual convention of NSA, where the theme was Influence.
I attend the NSA conferences to learn more about the art and craft of speaking, as well as to hear about new trends in social media and more. However, this year, I was pleased to find the session beneficial both for me personally and professionally, but also, perhaps, for you as well in my top 10 takeaways.
What’s So Magic About Age 65?
Baby Boomers own a disproportionate number of the private businesses in America. They are turning 65, or reaching the so-called “normal” retirement age at an astounding rate. Generation X is smaller than the Boomer generation by a significant amount and that means there are fewer of them to take the place of retiring Boomer business owners.
Following the smaller Generation X, the Millenials will exceed the Baby Boomers in numbers by 2016 or 1017. While they are the largest generation in the workforce today, they may not yet be likely purchasers of businesses from Boomers.
So what’s an aging business owner to do? Is the glass half empty and this situation is all bad?
If, But, and Yes, But … No Way to Sell Anything
In a business damages trial a number of years ago, the plaintiff was answering questions with a lot of conditional phrases, like if, and but, and however. At the conclusion of his cross-examination, the defendant’s attorney said the following: If “ifs” and “buts” were candy and nuts, every day would be Christmas! The judge immediately […]
My First Saturday This Week
May Day, May 1st, was Friday, on the calendar, at least. And I did something I don’t think I’ve ever done. I took the day off and treated it like a Saturday. The idea is not original, but what I can say about it is that I feel great. See what I did and ask yourself if would be a good idea for you too.
Two Great Lessons Learned from a Week on the Road
Last week, I spoke on Unlocking Private Company Wealth before three audiences in New York, Philadelphia, and Las Vegas. My two key takeaways from the trip were referrals to two resources Simon Sinek’s Ted Talk, “Start with Why” and Brian Moran and Michael Linnington’s book The 12 Week Year.
Where There is a Will, There is a Will: Are Your Will and Health Care Proxy Current?
Recent surveys suggest that a large number of Americans and baby boomers do not have wills or a healthcare proxy, and often wills lag personal situations and desires. Conversations can be difficult, and the difficulties of an already difficult situation are compounded. However, unplanned situations happen. Consider these steps to do something, providing structure within which you can work.