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What Time Is It in the Bubble?

What’s a bubble?  Wikipedia defined the dot-com bubble of the 90’s as:  The dot-com bubble (also referred to as the dot-com boom, the Internet bubble and the information technology bubble)  was a historic speculative bubble covering roughly 1997–2000 (with a climax on March 10, 2000, with the NASDAQ peaking at 5,408.60  in intraday trading before closing at … Continue reading »

Categories: M&A, Private Equity, Selling, Uncategorized, Venture Capital | Tags: , | Leave a comment

The Idiocy of Multi-Billion $ Evaluations

 Part  Deux –  In Which I Continue My Rant On Valuations The other day, I penned my thoughts about private equity. Amplifying on that theme, there are a lot of unprofitable companies out there funded by private equity or venture money, with multi-billion dollar valuations. Oh yeah? Sez who? Apparently only the people who hope … Continue reading »

Categories: Buying, Selling, Startups, Uncategorized | Tags: , | Leave a comment

The Evil of Private Equity Deals in America

Having been born and raised in the country that changed the world with its manufacturing ability, capacity and innovations, I have no respect for the primary industry of the America of today – the business of moving money from one point to another, and making money off of the move. Particularly this week, I have … Continue reading »

Categories: M&A, Selling, Uncategorized | Leave a comment

Are You Contemplating Becoming an Angel?

(Caveat:  I am not an attorney, accountant, or licensed professional in any regard; before contemplating any financial transaction, you should seek the advice of trusted professionals.  The following is strictly my opinion.) I saw an interesting deal this week which didn’t make me very happy.  A second stage start-up that I am aware of filed … Continue reading »

Categories: M&A, Selling, Startups, Uncategorized | Leave a comment

Carl’s Jr. Update

(OPINION) Investor Norman Peltz (Wendys/Arbys group, says he wants to play too, is studying CKE financials to see if he wants to bid.   Peltz is an activist investor, and as head of Triarc Companies, has hit a couple home runs (let’s not talk about Snapple, tho). On the other hand, TH Lee, the first bidder, … Continue reading »

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Lee Bags Carl Karcher

CKE, parent of Carl’s Jr and Hardee’s picked up by Thomas Lee Partners for  close to a billion, including debt assumption.  Lee also holds big stakes in Dunkin’ Donuts and Baskin Robbins. This is the second big food deal this week, with the news that Diamond Foods (DMND) of California has gobbled up Kettle Foods … Continue reading »

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Steak ‘n Shake Hungry for Western Sizzlin

Steak ‘n Shake  and Western Sizzlin Corp. have announced they have signed a non-binding letter of intent to merge the Sizzlin group into a wholly-owned subsidiary of SNS.   The deal is valued at $23 million.  SNS  has 486 restaurants, and the Sizzlin folks operate or franchise 113 outlets in 19 states.   Full press release here.

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Reconstructed Cash Flow

In marketing your business, the idea is to make it as attractive as possible to any prospective buyer, but of course stay within the confines of legality and ethics. You should consider having a pro-forma reconstructed cash flow statement of what the operation might look like under a different owner,but I wouldn’t send these statements … Continue reading »

Categories: Selling, Uncategorized | Leave a comment

The Sum of the Parts

You probably learned the word “arbitrage” in the Julia Roberts/Richard Gere film “Pretty Woman.” They gave quite a detailed explanation of how the sum of the parts, in a business, is sometimes worth more than the whole. Under certain circumstances, this might be an option for you – selling off inventory, intellectual property or patents, … Continue reading »

Categories: Selling, Uncategorized | Leave a comment

How to Find a Business Broker

If the value of your business is under $2 million, you’ll want to use a local business broker, hopefully who has experience in your industry, but whom most certainly will probably maintain a database of local buyers. Hopefully, the broker has gone through the process of pre-qualifying those buyers. So he’ll have a handful of … Continue reading »

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