asterisk2a + m&a   72

Theresa May must take £115bn hint from Kraft Heinz's failed Unilever bid | Business | The Guardian
Warren Buffett and 3G were apparently surprised at hostility from Unilever’s board – but PM must use this bid as cue to form proper policy on takeovers [...] Kraft’s crew of billionaires should get out more. Did they miss the debates that have raged over rootless global companies, asset-stripping deals and the UK’s open-doors policy on takeovers? Hostility was predictable and justified.

Unilever’s board was always likely to reject the chance to be bought by a financier-led firm in search of another target for its job-cutting formula. [...] If Buffett and Jorge Paulo Lemann, 3G’s co-founder, couldn’t see outrage in the offing, they were astonishingly naive.
Brexit  British  Pound  £  devaluation  FTSE100  Warren  Buffett  WarrenBuffett  conglomerate  multinational  food–industrial  complex  debt  ZIRP  NIRP  QE  reflate  M&A  profit  maximisation  anti-trust  antitrust  taxation  tax  evasion  avoidance 
february 2017 by asterisk2a
ARM chip designer to be bought by Japan's Softbank
ARM-Who? bbc.in/29OUgUM //&! 43% premium // on.recode.net/29On8LK - One key question is whether other firms will let SoftBank purchase ARM or if there will be a bidding war. Apple, arguably ARM’s most important client, and Intel, which lost the mobile chip war to ARM, are both potential buyers. The offer is already a generous multiple. As the FT notes, it’s some 70 times ARM’s net income last year. That’s around the same price-to-earnings ratio as Facebook stock. //&! politicians grasping for a positive headline - bit.ly/29OyjUD - bit.ly/2an8nk6 &! bit.ly/29PpN7N &! bit.ly/29ODbdM << calling a takeover/M&A an investment is criminal. Softbank will extract value out of it for its shareholders. What else?! &! Labeling Softbank as a japanese company; bbc.in/29OhqdK &! Vince Cable worried - bbc.in/2a3c95T &! youtu.be/T4IZdNW-e5U :: M&A is not investment, stupid! misleading people.
M&A  SoftBank  Capital  shareholder  value  shareholder  capitalism  dividends  smart  phone  IoT  profit  maximisation  profit  maximization  equity  bubble  distortion  hunt  for  yield  ARM  Venture  Capital  ROI  Tories  nasty  party  Conservative  technological  unemployment  research  R&D  productive  investment  Intel  Apple 
july 2016 by asterisk2a
The Growth Trap
[ growing for growth sake! vs growing in a world/area that is not conducive to grow ] When Twitter went public in 2013, its stock soared and its value jumped to $25 billion. Its founders and early investors got rich. But since then, the company has been considered a failure, despite the fact that it boasts 320 million active users, because it's not growing fast enough. Douglas Rushkoff, author of "Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity," talks to Steve Paikin about why he sees the push for more growth as dangerous. // true capitalists (shareholder, crony, greedy) w/o self-regulation or governance extract all the value there is to extract and then leave, dispersing it to the few who already have [...] WE MUST REWRITE THE RULES OF THE GROWTH GAME ITSELF! [...] you want to optimise the economy based on velocity of money (circulation of money), not share price and value extraction [...]
Venture  Capital  Unicorn  shareholder  capitalism  Greed  shareholder  value  profit  maximisation  profit  maximization  Wall  Street  Wall  Street  activists  Yahoo!  Google  Inc.  Alphabet  Inc.  Microsoft  IBM  Intel  Oracle  capitalism  exploitation  Super  Rich  short-termism  short-term  thinking  1%  plutocracy  oligarchy  M&A  economic  growth  growth  round  Mutual  Fund  macroeconomic  policy  secular  stagnation  Private  Equity  MBO  Pivot  IPO  dividends  prosperity  Start-Ups  Start-up  s&p500  pension  scheme  pension  finite  resources  resource  depletion  economic  history  creative  destruction  share  buyback  Apple  capitalism  in  crisis  capitalist  Uber  monopoly  oligopol  oligopoly  antitrust  corruption  western  world  squeezed  middle  class  emerging  middle  class  BRIC  business  cycle  company  book  cost  center  overhead  costcutting  operating  performance  operating  margin  globalisation  globalization  Universal  Basic  Income  artificial  intelligence  AI  augmented  intelligence  Robotics  automation  structural  unemployment  materialism  consumerism  status  anxiety  disenfranchise  disenfranchised  youth  unemployment  post-capitalism  Mobile  Banlieue  deprivation  poverty  trap  poverty  meritocracy  meritocratic  Gini  value  coefficie 
april 2016 by asterisk2a
Pfizer's merger collapse prompts speculation it will seek new takeover
$160bn tie-up with Allergan, which would have been world’s biggest pharmaceutical deal, scuppered by US tax crackdown [...] first announced in November and now abandoned after the US Treasury Department stunned financial markets with measures to clamp down on tax efficient mergers and takeovers. [...] The merger plan had been motivated by the ability to save as much as $1bn in tax annually by shifting Pfizer’s domicile from New York to Ireland, after Allergan moved its base there a year ago in a similar move. Allergan moved its head office to Dublin after a reverse merger with the Irish drugmaker Actavis. [...] [ from the inside of Allergan ...] “It really looked like they [the US government] did a very fine job at constructing a temporary rule to stop this deal and obviously it was successful,”
tax  evasion  tax  avoidance  M&A  accounting  scandal  shareholder  capitalism  big  pharma  pharma  pharmaceutical  industry  Wall  Street  shareholder  value  profit  maximisation  profit  maximization 
april 2016 by asterisk2a
Why Everyone Must Get Ready For The 4th Industrial Revolution
For example, as automation increases, computers and machines will replace workers across a vast spectrum of industries, from drivers to accountants and estate agents to insurance agents. By one estimate, as many as 47 percent of U.S. jobs are at risk from automation. Many experts suggest that the fourth industrial revolution will benefit the rich much more than the poor, especially as low-skill, low-wage jobs disappear in favor of automation.

But this isn’t new. Historically, industrial revolutions have always begun with greater inequality followed by periods of political and institutional change. The industrial revolution that began at the beginning of the 19th century originally led to a huge polarization of wealth and power, before being followed by nearly 100 years of change including the spread of democracy, trade unions, progressive taxation and the development of social safety nets.
Mobile  Creative  Mobile  Creatives  augmented  intelligence  artificial  intelligence  AI  Robotics  automation  destruction  creativity  book  social  safety  net  welfare  state  tax  credit  working  poor  Precariat  low  pay  low  income  Universal  Basic  income  tax  receipts  job  creation  Service  Sector  Jobs  precarious  work  precarious  employment  Contractor  part-time  Zero  Hour  Contract  self-employment  tax  evasion  profit  maximisation  profit  maximization  shareholder  capitalism  shareholder  value  Wall  Street  M&A  Autonomous  Cars  Google  Car  Uber  public  transport  public  transportation  corporate  tax  rate  tax  amnesty  tax  avoidance  Panama  Papers  offshore  banking  Super  Rich  1%  plutocracy  oligarchy  Soziale  Marktwirtschaft  skills  gap  skills  economy  skill  mismatch  skill-biased  technological  change  skill  gap  skills  mismatch  skills  shortage  skills  missmatch  skill  investment  education  policy  winner  take  all  business  model  R&D  R&D  underinvestment  austerity  Generationengerechtigkeit  fairness  democracy  secular  stagnation  western  world  job  market  labour  market  poverty  trap  economic  history  UK  USA  Europe  Germany 
april 2016 by asterisk2a
Börsenpläne von Spotify: Der Sound der Zocker
Eine Milliarde Dollar (880 Millionen Euro) leiht sich der Musikdienst laut "Wall Street Journal" bei Finanzinvestoren und der Großbank Goldman Sachs. Spotify verspricht den Geldgebern neben Zinszahlungen auch Anteile am Unternehmen. Wie viel Spotify zahlen muss und in welcher Größenordnung Anteile den Besitzer wechseln, hängt davon ab, wann die Schweden an die Börse gehen. Mit jedem Halbjahr, in dem das Start-up die Erstemission herauszögert, wird es jedenfalls teurer.

Das macht den Deal hochriskant für Spotify: Von Profitabilität ist der Dienst weit entfernt, 2014 fuhr der Dienst einen Verlust von 162 Millionen Euro ein. Die neuen Schulden könnten das Unternehmen in einen ruinösen Strudel von schrumpfenden Geldreserven, drückender Zinslast und immer mieseren Börsenaussichten reißen. [...] [ M&A out of question ] &! bit.ly/1MYHBK4 &! on.recode.net/1oo4GQ1
Spotify  IPO  growth  round  Private  Equity  Goldman  Sachs  liquidation  preferences  termsheet  Box  Aaron  Levie  Apple  Music  Apple  Google  Inc.  Google  Play  Music  Google  Play  Amazon  Prime  Amazon  M&A  Soundcloud  Deezer  Rdio  Pandora  Microsoft  Venture  Capital  Unicorn  business  model  subscription  model  freemium 
april 2016 by asterisk2a
Die Macht der Finanzkonzerne - Wie Blackrock mittels Geld die Welt regiert - YouTube
extraction of fat. no skin in the game. // Privatisation of housing stock - social and affordable, anglo saxon capitalism style; profit maximisation, dividends. // after Goldman Sachs the new vampiresquid // no skin in game; get money for speculation from pension funds, other investors, mutual funds. << that is the system! // nur wer geld hat, kann es vermehren. // nearly no governance, no guidelines regarding sustainability, ethics, transparency, morals. // no regulation = big profit and exploitation, corruption, bribery.
BlackRock  MBO  LBO  M&A  Private  Equity  financial  product  Hedge  Fund  Black  Swan  blackswan  Nassim  Taleb  self-regulation  Mutual  Fund  Venture  Capital  risk  governance  corporate  governance  lobbyist  lobby  Lobbying  Wall  Street  shareholder  value  profit  maximisation  activist  investor  Main  Street  accountability  transparency  mainstreet  arbitrage  squeezed  middle  class  wage  stagnation  bonuses  bonus  speculation  revolving  door  regulation  regulators  Career  Politicians  CEO  pay  dividends  Heuschrecken  ROI  speculative  sustainability  tax  code  ethics  corporate  scandal  accounting  scandal  oligarchy  plutocracy  Super  Rich  1%  GFC  sovereign  debt  crisis 
february 2016 by asterisk2a
Matt Taibbi: Mitt Romney and the Looting of America (1/2) - YouTube
https://de.wikipedia.org/wiki/Heuschreckendebatte // companies turned into financial instruments. // fictionalisation of economy // >> money spend (debt) on hostile takeover/LBO/MBO/M&A are tax deductible! << = invest in debt, rather than equity! & carried interest is only taxed at 15% max. still can reduce it w deductions xyz. // !!! NO SKIN IN THE GAME !!! Nassim Taleb //
Mitt  Romney  risk  capital  Venture  LBO  MBO  Wall  Street  M&A  shareholder  value  profit  maximisation  multinational  conglomerate  Mafia  Private  Equity  oligarchy  plutocracy  Super  Rich  1%  activist  investor  share  buyback  Hedge  Fund  Heuschrecken  bankruptcy  public  sentiment  public  awareness  creative  destruction  financial  product  self-regulation  regulation  regulators  BlackRock  Bain  CEO  pay  bonuses  bonus  squeezed  middle  class  Blackstone  dividends  mainstream  Main  Street  hostile  takeover  USA  lobbyist  lobby  Lobbying  tax  code  Nassim  Taleb  vested  interest  interest  groups  Career  Politicians 
february 2016 by asterisk2a
China bietet 43 Milliarden Dollar für Syngenta - SPIEGEL ONLINE
Es wäre es der bisher größte chinesische Zukauf im Ausland: Der Staatskonzern ChemChina will den Schweizer Agrochemie-Konzern Syngenta für mehr als 43 Milliarden Dollar kaufen. Allerdings müssen EU- und US-Behörden noch zustimmen.
China  M&A  credit  bubble  Hegemony  USA  Europe  antitrust  commodity  prices  Oil  price 
february 2016 by asterisk2a
Rewe droht mit Klage gegen Fusion von Edeka und Kaiser's - SPIEGEL ONLINE
Die Supermarktkette Edeka will Kaiser's Tengelmann übernehmen - mit Sondererlaubnis von Wirtschaftsminister Gabriel. Konkurrent Rewe hält das für rechtswidrig und kündigt nun juristischen Widerstand an.
M&A  corporate  welfare  subsidies  subsidizing  antitrust  Career  Politicians  monopsony  duopoly  oligopol  oligopoly 
february 2016 by asterisk2a
Yahoo: Was der Niedergang Apple, Google und Facebook lehrt - SPIEGEL ONLINE
Yahoo baut Stellen ab und endet wohl als Ramschware. Der Abstieg des Internet-Pioniers ist auch eine Warnung an Apple, Facebook und Co. [...] Die Krise von Yahoo lässt sich in einer Zahl zusammenfassen: minus 13 Milliarden Dollar. So niedrig bewertet die Börse das Kerngeschäft des amerikanischen Internet-Konzerns inzwischen, hat der Tech-Journalist Matt Levine ausgerechnet. Abzüglich einiger lukrativer Beteiligungen und seiner Bargeldreserven ist Yahoo nichts mehr wert. Weniger als nichts. [...] Die digitalen Mode- und Tech-Magazine, die sie startete, finden wenige Leser. Auch die 2013 gekaufte Blog-Plattform Tumblr entwickelte sich nicht, wie von Mayer erhofft: Von der 1,1-Milliarden-Dollar-Akquisition schreibt Yahoo nun rund ein Viertel ab.
Yahoo!  Y!  Yahoo  Silicon  Valley  Twitter  Apple  Facebook  Google  Inc.  Alphabet  Inc.  Marissa  Mayer  eBay  Paypal  creative  destruction  Tumblr  M&A  WhatsApp  Snapchat  Wall  Street  profit  maximisation  shareholder  value  Greed  capitalism 
february 2016 by asterisk2a
Sainsbury's to 'future-proof' with £1.3bn Argos deal - BBC News
Sainsbury's aims to "future-proof" its business with the £1.3bn offer to buy Argos owner Home Retail Group.
M&A  e-commerce  Retail  brick  and  mortar  business  pure  play  Online  Shopping  Tesco  ASDA  Walmart  Amazon  Sainsbury 
february 2016 by asterisk2a
Fred Block: The Tenacity of the Free Market Ideology - YouTube
Fred Block discusses his book “The Power of Market Fundamentalism,” which extends the work of the great political economist Karl Polanyi to explain why free market dogma recovered from disrepute after the Great Depression and World War II to become the dominant economic ideology of our time. // wo state role there would be no market system. // need social democracy in complex diverse society - representing people // freedom in complex diverse society = free of hunger and economic uncertain & freedom of nonconformity - protections, no marginalisation, no economic punishment // social democracy and free market are both Utopias // Thatcher & Co blaming State for malaise! nobody likes technocratic arguments, leaves public out, thus was able to make big return. // wealth creation through efficiency route takes more work and capital than predation (rentier/rent seeking) - ie relaxing fuel efficiency savings regulation for Detroit back in the days // trust that state can support innovation
economic  history  freemarkets  free  market  neoliberalism  self-regulation  neoliberal  book  macroprudential  policy  macroeconomic  policy  microeconomic  policy  Chicago  School  USA  UK  social  democracy  capitalism  dogma  ideology  austerity  trickle-down  economics  globalization  globalisation  borderless  flat  world  Greed  boom  and  bust  crony  capitalism  plutocracy  oligarchy  Super  Rich  1%  democracy  revolving  door  Career  Politicians  No  Representation  social  mobility  American  Dream  meritocracy  meritocratic  Alain  de  Botton  philanthropy  profit  maximisation  shareholder  value  Wall  Street  Gini  coefficient  income  mobility  education  policy  welfare  state  social  safety  net  Supply  and  Demand  market  economy  Demand  and  Supply  JohnMaynardKeynes  keynes  Keynesianism  GFC  Great  Moderation  Great  Depression  Utopia  Ronald  Reagan  Margaret  Thatcher  rentier  rent-seeking  predation  financial  product  wealth  creation  R&D  STEM  productive  investment  productivity  output  gap  public  investment  underinvestment  infrastructure  investment  competitive  competitiveness  M&A 
january 2016 by asterisk2a
"How The Investment Grade Dominos Will Fall" - UBS Explains | Zero Hedge
According to Citigroup's Matt King, it is now officially too late to save junk debt, which has entered the final stage of the credit cycle, the one where defaults for high yield bonds rise with every passing month. [...] we estimate that nearly $1tn of speculative-grade credits are at risk of default over the next downturn, as the stock of low-quality credit has soared. [...] These developments are a negative headwind for investment-grade corporates in 2016.
creditrating  creditrisk  NPL  corporate  debt  ZIRP  NIRP  QE  distortion  speculative  bubbles  debt  monetisation  debt  monetization  leverage  junk  bond  sovereign  debt  crisis  PIGS  monetary  policy  emerging  market  Frontier  Markets  BRIC  economic  history  Taper  QT  M&A 
january 2016 by asterisk2a
General Electric could cut hundreds of UK jobs | Business | The Guardian
Approximately 6,500 jobs are at risk across Europe, including more than 600 in the UK, as the US industrial company General Electric begins to cut costs after its takeover of the power operations of the French company Alstom. The cuts are taking place even though GE pledged to create 1,000 jobs in France when the deal was completed in November. About 765 jobs are expected be lost in France and 1,700 in Germany as the company, which employs 100,000 in Europe, begins a consultation with unions. The jobs at risk in the UK amount to about 3% of the 22,000-member workforce. Jeffrey Immelt, the longstanding chief executive of GE, met the French president, François Hollande, and appeared before the French National Assembly to win support for the deal, the largest undertaken by the US company.
M&A  Wall  Street  profit  maximisation  shareholder  value  conglomerate  crony  capitalism  capitalism  lobbyist  lobby  Lobbying  antitrust  oligopoly  oligopol 
january 2016 by asterisk2a
Dow Chemical und DuPont: Fusion verdrängt BASF als Nummer eins - SPIEGEL ONLINE
Der neue Konzern soll DowDuPont heißen. Er stößt den bislang weltgrößten Chemiekonzern BASF Chart zeigen aus Ludwigshafen vom Thron, der aktuell einen Börsenwert von gut 65 Milliarden Euro hat. Dies dürfte aber nicht von Bestand sein, da sich der neue Konzern wiederum in drei verschiedene börsennotierte Unternehmen aufspalten will. Einer dieser Konzerne soll für die Landwirtschaft zuständig sein, einer für Spezialchemieprodukte und der dritte für klassische Chemieprodukte. [...] DuPont kündigte am Freitag zugleich ein Sparprogramm an: 700 Millionen Dollar sollen eingespart werden, vor allem durch die Streichung von etwa zehn Prozent der Stellen. Derzeit arbeiten rund 54.000 Menschen bei dem Konzern. Mit den Fusionsplänen reagieren die beiden Chemieriesen auf Druck von Investoren, denen die Unternehmen nicht profitabel genug sind.
M&A  corporate  scandal  Wall  Street  profit  maximisation  shareholder  value  crony  capitalism  capitalism  conglomerate 
december 2015 by asterisk2a
Pfizer lässt sich für 160 Milliarden Dollar von Allergan übernehemn - SPIEGEL ONLINE
Bei der Fusion entsteht der größte Pharmakonzern der Welt: Allergan übernimmt offiziell nun Pfizer und nicht umgekehrt. Der Kniff ermöglicht es den Konzernen, die neuen Regeln des US-Finanzministeriums zu umgehen - und so Steuern zu sparen.
tax  evasion  tax  avoidance  M&A  big  pharma  pharmaceutical  industry  pharma  lobbyist  lobby  Lobbying  Consumer  Protection  shareholder  value  profit  maximisation  Wall  Street  antibiotics  antibiotic  resistance  post-antibiotic  era  shared  economic  interest  Career  Politicians  No  Representation 
november 2015 by asterisk2a
SAP: Ehemaliger Mitarbeiter erhebt schwere Vorwürfe gegen SAP - SPIEGEL ONLINE
Hinter den Kulissen tobt um die Entwicklungsgeschichte des Erfolgsprodukts indes seit Jahren ein erbittert und mit harten Bandagen geführter Streit, der mittlerweile auch Gerichte und Behörden in Deutschland und den USA beschäftigt. Ausgerechnet ein Mitarbeiter der internen SAP-Revision, der mit einer Untersuchung ("Audit") über den Entwicklungsprozess von Hana befasst war, wirft dem Unternehmen vor, sich bei der Entwicklung eigener Produkte wie Hana am geistigen Eigentum von Wettbewerbern wie Oracle, IBM und Teradata bedient zu haben. Der bislang unbekannte Vorgang geht aus internen SAP-Dokumenten sowie Gerichtsunterlagen hervor, [...] Für SAP sind die Vorwürfe gefährlich, denn das Unternehmen ist einschlägig vorbelastet. In den vergangenen Jahren musste es Wettbewerbern wie Oracle Chart zeigen bereits hunderte Millionen Dollar an Schadensersatz überweisen. [...] [ $25m fuer sich zu fordern war dumm. Super naive. Schweigegeld oder was? ]
SAP  Oracle  intellectual  property  IP  IBM  competitive  competitiveness  competition  Silicon  Valley  M&A  Big  Data  disruption  disrupting  markets  SME  SMB  Mittelstand  innovation 
september 2015 by asterisk2a
Crash bei Dax und Dow: Das war's mit Illusion Nummer drei - SPIEGEL ONLINE
Solange die Weltwirtschaft brummt, kann eine einzelne Volkswirtschaft ihre Währung so lange abwerten, bis sie wieder wettbewerbsfähig ist und der Aufschwung fast von alleine kommt. Globale Krisen funktionieren anders. Die Weltwirtschaft insgesamt kann nicht abwerten. Sie kann nur produktiver werden, aber nicht wettbewerbsfähiger. Da alle großen Wirtschaftsregionen der Welt - USA, Euroraum, Russland, China, Japan und Südostasien - ihre Mega-Krisen in den letzten zwei Jahrzehnten hatten, gibt es auch keinen Unversehrten mehr, der die Rolle einer weltwirtschaftlichen Lokomotive übernehmen könnte. Das Wachstum der Weltwirtschaft verlangsamt sich somit stetig. [...] Die fetten Jahre sind vorbei [...] [ Share buyback was hot in 2014/15 till now ] [...] Die Verschiebung der Macht von Arbeit zu Kapital schreitet nicht weiter fort. [ low interest rate environment bc low capital returns, new Millennials have to serve now this debt burden and can't hope to inflate it away. & stagnant wages! ]
IMF  OECD  global  economy  global  trade  globalisation  global  imbalances  globalization  borderless  flat  world  GFC  dot.com  recovery  reflate  reflation  secular  stagnation  Richard  Koo  economic  history  austerity  2015  China  USA  UK  Europe  savings  glut  structural  imbalance  distortion  QE  ZIRP  NIRP  monetary  policy  fiscal  policy  underinvestment  productive  investment  output  gap  participation  rate  productivity  Great  Moderation  New  Normal  asset  bubble  equity  bubble  speculative  bubbles  bond  bubble  property  bubble  bubbles  hunt  for  yield  liquidity  trap  monetary  transmission  mechanism  debtoverhang  debt  servitude  deleveraging  balance  sheet  recession  inflation  expectation  deflationary  deflation  Oil  price  energy  price  OPEC  Makers  policy  error  policy  folly  unintended  consequences  complexity  unknown  unkown  share  buyback  Wall  Street  profit  maximisation  shareholder  value  public  investment  infrastructure  investment  business  investment  M&A  mainstreet.org  crony  capitalism  exploitation  short-term  thinking  short-term  view  capitalism  bank  bailout  lobbyist  lobby  Lobbying  Career  Politicians  No  Representation  social  contract  political  theory  structural  unemployment  Impediments  faultlines  policy  social  l 
august 2015 by asterisk2a
QVC Owner Buys Zulily: Bloomberg West (Full Show 8/17) - YouTube
etsy is a marketplace stupid. // once they saturated their category/market, the growth tapers off! especially home market & then they have 2 fund through IPO international expansion; ie etsy. & will hit on competition, obviously. // &! min 16 discussion on Amazon corporate culture & values! & stock based compensation package. // &! Amazon: How Bruising a Workplace Is It? - youtu.be/CJKkRMMaF7c 'extraordinary demanding workplace, and high turnover' 'exceptional company, what every they do, its working' 'up or out' 'unique culture by a company of that size' // &! youtu.be/qo9b8CtSqqE - 'unreasonable high standards' 'feedback system enables backstabbing' 'they call it purposeful Darwinism: staff ranking' 'GE dropped it' [ personal note: I think u still have the sort of responsibility (moral/ethical/hr as CEO) 2 help & coach ur worst performers, before firing them with compensation package (making them go), balance! also no charity ] &! youtu.be/NpiPc3gPeYY &! youtu.be/YtUhvnXF3Yc
Zulily  e-commerce  flash  sale  IPO  Wall  Street  profit  maximisation  shareholder  value  Etsy  M&A  eBay  vertical  category  Start-Up  lesson  Start-Up  advice  Silicon  Valley  growth  round  Amazon  compensation  package  compensation  Office  Politics 
august 2015 by asterisk2a
Disney’s $4 Billion Steal — 500ish Words — Medium
Since Iger took over, Disney has made a number of key acquisitions. The three biggest are arguably the three most important deals any company has done over that span. In 2006, Disney bought Pixar for $7.4 billion. In 2009, Disney bought Marvel for $4.3 billion. And in 2012, Disney bought Lucasfilm for $4 billion. [...] Based on nothing other than internet reaction, pent-up demand, and the fact that this new Star Wars cannot possibly be as bad as the last three, I’m going to go not-so-far out on a limb and predict that The Force Awakens makes over $2 billion worldwide at the box office. Yes, that would put it third all time behind the James Cameron tentpoles Titanic and Avatar, and ahead of both Avengers films. But I can just see it happening.
Disney  M&A  intellectual  property  IP  Star  Wars 
august 2015 by asterisk2a
Maker Studios May Not Hit Disney Earn-Out Goals | Re/code
The most significant issue for Kreiz and other Maker executives and investors will likely come down to money. There’s no dispute about the fact that Maker has continued to grow under Disney, but it appears that Maker hasn’t hit goals it thought it could clear in May 2014 (I don’t know how the specific earn-out goals are structured). It’s not unusual for acquired companies to miss earn-out goals — it may be more common than not. But at the time of the deal, Maker backers seemed unusually confident about their ability to get all or most of the extra $450 million Disney might pay out. [ ... ] [ apparently, income ] generated per view has decreased.
Disney  Maker  Studios  M&A  Mark  Suster  Start-Up  lesson  Start-Up  advice  acquisition  YouTube  Facebook  Video  Newsfeed  Facebook  Video  content  discovery  content  distribution  business  model  pageviews  CPM  The  Wars 
august 2015 by asterisk2a
Buffett-Backed Kraft Heinz Cuts 2,500 Jobs as Hees Targets Costs - Bloomberg Business
[ fifth-largest food and beverage company. ] Kraft Foods and H.J. Heinz merged in July in a deal orchestrated by Buffett and 3G Capital, which jointly controlled the ketchup company. 3G’s Bernardo Hees, who is now running the combined foodmaker, cut more than 7,000 jobs in 20 months after taking over at Heinz. Berkshire Vice Chairman Charles Munger has endorsed the job cuts, saying such measures are essential to a productive capitalist system. [...] The alternative to reducing staff is “what happened in Russia,” Munger said at Buffett’s annual meeting in May. “The whole damn economy didn’t work.” // &! https://en.wikipedia.org/wiki/Cadbury#Acquisition_by_Kraft_Foods &! https://en.wikipedia.org/wiki/Mondel%C4%93z_International
conglomerate  M&A  processed  food  junk  food  food  industry  fast  food  synergy  Wall  Street  commodity  business  commoditization  profit  maximisation  shareholder  value  recovery  2015  USA  Big  Sugar 
august 2015 by asterisk2a
Fear Trumps Greed in Silicon Valley as Some Venture Firms Hedge - Bloomberg Business
[... high ops cost associated w SF/Palo Alto ... fancy office (and expensive (rarefied) developers from Google or Facebook) in SF as a sign of success while burning +2m per year at least with no cash flow in sight ... and with all consumer products being free and hoping to finance themselves in the future with advertising ... ] Some VCs are urging their companies to build a rainy day fund to ensure their survival. [...] It’s a constant battle deciding whether to invest in a potentially lucrative deal, said Philadelphia financier Rudy Karsan: “Greed versus fear.” [ Softbank Capital just last week came out publicly with a shift in strategy, to invest now ONLY in proven winners, at slightly premium to get in (and with preferred liquidation preferences in writing), &focus resources on those portfolio companies ... than to compete in a crowded, distorted, muggy, in transparent, very speculative (with lots of ifs and luck and bet on CEO to execute well) A-, B- (and C-Round) market. ]
Silicon  Valley  burn  rate  runway  cash  flow  cash-is-king  hunt  for  yield  distortion  ZIRP  NIRP  QE  growth  round  SPV  war  for  talent  Private  Market  Private  Equity  Hedge  Fund  Mutual  Fund  bubble  USA  Fed  Taper  asset  bubble  asset  allocation  Angel  Investor  Seed  business  model  advertising  VC  Venture  Capital  Greed  FOMO  bubble  speculative  bubbles  speculative  speculation  SoftBank  Capital  IPO  NASDAQ  A  Unicorn  Decacorn  termsheet  liquidation  preferences  exit  strategy  M&A  acquisition  acquihire  acqui-hire  business  cycle  business  plan  business  investment  business  confidence  consumer  confidence  leverage  debtoverhang  irrational  exuberance 
july 2015 by asterisk2a
Lookout For The Wall Street Time-Bomb - YouTube
synergies and efficiencies mostly not realised. it just delays death of both slow as snails tax evading global rootless conglomerate. it just squeezes out what is remaining, and M&A is a way to do it - for shareholders! not stakeholders (customers, economy, employees)
M&A  shareholder  value  marketshare  capitalism  creative  destruction  Wall  Street  profit  maximisation  shared  economic  interest  stakeholder  economic  history  crony  capitalism  tax  evasion  tax  avoidance  lobbyist  lobby  Lobbying  antitrust  monopoly  exploitation 
july 2015 by asterisk2a
Microsoft and Nokia - a marriage made in hell? - BBC News
Microsoft's takeover of Nokia's mobile phone operation is bound to end up as a business school case study. The deal now looks like a disaster for all concerned - many of the 25,000 Nokia employees have seen their jobs disappear and Microsoft has written off just about all the money it spent. [...] What next then? Microsoft insists that it will still make smartphones, but will focus on its wider "ecosystem". There will be fewer in-house phones, and the aim will be for them to showcase Windows Phone's capabilities for other manufacturers, much as the Surface does for tablets.
Microsoft  stevebalmer  Satya  Nadella  Nokia  M&A 
july 2015 by asterisk2a
Forget the Verizon-AOL deal. The big wave in tech M&A is just getting started. | PandoDaily
The all-cash AOL deal may drain Verizon’s cash reserves, but consider that Verizon generated $10 billion in operating cash flows last quarter – on top of $113 billion in total debt. [W]hats another $4.4 billion in loans, especially when interest rates are as cheap as they’ve ever been? // &! S&P 500 Companies Spend Almost All Profits on Buybacks - bloom.bg/1ECu06U // &! Companies have been gobbling up their own shares at an exceptional rate. There are good reasons to worry about this [...] The companies in the S&P 500 index bought $500 billion of their own shares in 2013, close to the high reached in the bubble year of 2007, and eating up 33 cents of every dollar of cashflow. [...] [$650 billion of cash overseas] [ leading firms to skimp on long-term investment] [firms are being sensible by restraining investment in the face of economic uncertainty] - econ.st/1t90jry //
M&A  Stock  buyback  productive  investment  underinvestment  GFC  bubble  asset  allocation  Wall  Street  shareholder  value  profit  maximisation  ZIRP  NIRP  QE  2015  speculative  bubbles  speculative  speculation  asset  bubble  equity  bubble  Amazon  Apple  s&p500  recovery  austerity  Western  World  secular  stagnation  hunt  for  yield  compensation  zombie  corporations  zombie  banks  dividends  offshore  Taper  fiscal  policy  monetary  policy  economic  history  long-term  view  long-term  thinking  short-term  thinking  short-term  view  compensation  package  golden  parachute  marginal  cost  economics  of  abundance  Moore's  Law  capital  expenditure  corporate  investment  uncertainty  Europe  USA  Career  Politicians  policy  folly  policy  error  PIGS  infrastructure  investment  business  investment  digital  economy  knowledge  economy  job  creation  Industrial  Revolution  2.0 
may 2015 by asterisk2a
Three ‘Silicon Valley’ Moments Ripped From the Headlines | Re/code
M&A talks disguised as intelligence collection, like NSA asking BND to do something for them.
Google  Yelp!  M&A 
april 2015 by asterisk2a
Unraveling Comcast Merger Exposes Weaknesses In Its Powerful Lobbying Arm | TechCrunch
Comcast spent $4.62 million on lobbying in the first quarter of 2015, an increase of 50 percent from its spending in the same quarter last year. But now the cable giant is reportedly walking away with little to show. Much of Comcast’s spending was aimed at ushering through the company’s merger with Time Warner Cable Inc. and preventing the adoption of strict net neutrality rules. Today Bloomberg reported Comcast is dropping the deal. The news came a day after the FCC staff recommended a hearing on the merger, a procedural move that would essentially halt the deal in its tracks.
Comcast  Time  Warner  Cable  M&A  ISP  oligopoly  oligopol  FCC  Net  Neutrality  lobbyist  lobby  Lobbying  revolving  door 
april 2015 by asterisk2a
The Bebo Lawsuit, and the Tragedy of Departed Founders Who Can’t Let Go | PandoDaily
In my early twenties, as I’ve written before in painful detail, I was kicked out of several companies that I co-founded. Like after any relationship gone sour, I decided the best approach was to simply move on and never look back. (Note: I was less good following that advice when actual relationships went sour). Really that’s the only sensible approach. To many entrepreneurs, the company that made their name and fortune is like a first-born child. Suddenly finding oneself no longer intimately involved in its upbringing is impossibly difficult to deal with, especially when its new parents are — to one’s own mind at least — mistreating it. But there’s a difference between a child and a company: You can put a price on a company. And many entrepreneurs, including Michael Birch have done precisely that.
Bebo  Michael  Birch  AOL  M&A  Facebook  Social  Media  Web  2.0  Digg  2008  Silicon  Valley  Start-Up  lesson  Start-Up  advice 
april 2015 by asterisk2a
U.S. Antitrust Lawyers Said Leaning Against Comcast Deal - Bloomberg Business
Antitrust lawyers at the Justice Department are planning to recommend that regulators prevent Comcast and Time Warner Cable from merging. They are said to be planning this recommendation “out of concerns that consumers would be harmed” if the companies merge. &! 24hrs later; Comcast and Time Warner try to convince the DOJ that competition is bad for consumers - http://pando.com/2015/04/20/comcast-and-time-warner-try-to-convince-the-doj-that-competition-is-bad-for-consumers/
Comcast  ISP  oligopoly  oligopol  Time  Warner  Cable  M&A  USA 
april 2015 by asterisk2a
Marc Andreessen on innovation and diversity | Fortune - YouTube
Public Market became cautious '14/'15: oil price slump + China + Russia + secular stagnation of the west in general (productivity gap & output gap), Abenomics, negative bond yields for gov debt and nearly 0 for corporate AAA debt, deflationary pressures in UK (0% inflation last 2 quarters), Europe (steady decline of M3 & issuance of new debt), & USA (with deflationary pressures as well). macroeconomic indicators do signal caution, because despite all the efforts (throwing the bathtub at the problem; ECB installing negative yield 4 overnight bank deposits with them) from central banks (NIRP, QE, POMO & other policies), the economic engine of the world & the west is still not going into 3rd or higher. // & Andreesen's argument, against, that tech is in bubblish territory, is, that in comparison with '99/'00 & the Public Markets current caution; (re-)investment (GOOG 11bn '14) & share buybacks (IBM, MSFT) schemes & dividends payout dwarf VC & growth rounds in tech by several magnitudes.
2015  IPO  M&A  Wall  Street  shareholder  shareholder  value  Silicon  Valley  bubbles  equity  bubble  bond  bubble  recovery  GFC  ZIRP  NIRP  QE  BOE  BOJ  Abenomics  ECB  Fed  Public  Market  Private  Market  hunt  for  yield  single-class  share  structure  Marc  Andreessen  Venture  Capital  Unicorn  economic  history  macroeconomics  debt  bubble  secular  stagnation  demographic  bubble  speculative  bubbles  behavioral  economics  behavioral  finance  distortion  sovereign  debt  crisis  zombie  corporations  zombie  banks  zombie  consumer  Super  Cycle  debt  monetisation  debt  monetization  deleveraging  debtoverhang  balance  sheet  recession 
april 2015 by asterisk2a
A Year Later, $19 Billion For WhatsApp Doesn’t Sound So Crazy | TechCrunch
Messaging is the center of mobile. Snapchat is raising at around a $20 billion valuation. And no one cares who owns apps. On February 19th, 2014, we didn’t know any of these things for sure. So when Facebook announced it would pay $19 billion to acquire WhatsApp — an app most American pundits had never used — it seemed ludicrous. Zuck had to be crazy, right? Wrong. Without WhatsApp, Facebook’s international situation would look a lot dicier. And if a competitor like Google acquired it instead, it could have been disastrous. Instead, Facebook possess the most popular messaging app, and has neutralized the biggest threat to its global domination of social networking. Why? Chat Is The Mobile Portal! [...] Its Stories feature has grown into a competitor to Facebook’s News Feed. And Discover could make it all quite monetizable if it gets popular. Snapchat is constantly cited as where teens are ditching your parents’ social network for.
WhatsApp  Snapchat  Instagram  Pinterest  Facebook  Twitter  Mark  Zuckerberg  Yahoo!  Google  Microsoft  SMS  Wireless  Carrier  MMS  Newsfeed  trend  trends  M&A  acquisitions  acquisition  scale  Tumblr  mobile  first  mobile  homescreen  mobile  phone  user  experience  user  behaviour  Phablet  AOL 
february 2015 by asterisk2a
Sure Stripe has more cash, but does it have a path to exit? | PandoDaily
The problem with raising capital at nosebleed valuations is that the number of scenarios under which a positive outcome is possible becomes greatly diminished. By raising at $3.5 billion, Stripe, [... and Investors ...] — are betting that the company can exit at or above $7 billion. That’s a steep price and largely eliminates acquisition as an option. The list of potential acquirers is likely limited to Facebook, Google, Apple, eBay, Amazon, and Alibaba in the tech sector. On the financial side, there are the large banks and credit card companies. But it’s hard to see anyone ponying up $7 billion to acquire Stripe, which has yet to prove that it has a sustainable business or attractive margins. [...] Not every round requires a doubling valuation, and in this case, it may turn out that everyone involved would be better if more modesty was applied. [...] [ Merger of Square & Stripe as worst case scenario? ] [ & IPOs to forget - Box, Groupon, Zynga, HortonWorks ... ]
Venture  Capital  Stripe  Apple  Pay  PayPal  Google  Wallet  Bitcoin  Amazon  Alibaba  Rakuten  Silicon  Valley  growth  round  exitstrategy  exit  strategy  IPO  M&A  business  model  margin  AliPay  Braintree  mobile  first  mobile  homescreen  Platform  network  effect  economies  of  scale  scaling  scale  Venmo  valuation  ycombinator  Unicorn  Square  Wall  Street  mobile  payments  online  payments  creditcard  Visa  Mastercard  payments  micropayments  Start-Up  lesson  Start-Up  advice 
december 2014 by asterisk2a
WhatsApp Gets a Warm Welcome Into Facebook - Bloomberg View
People make fun of tech froth, and, I mean, sure, why not, Facebook did pay $19 billion for a company with $10 million in 2013 revenue, but here regular old accounting comes off looking just a bit silly as well.
ARPU  WhatsApp  Facebook  business  model  M&A  speculation  speculative  Mark  Zuckerberg 
november 2014 by asterisk2a
Symantec Said to Explore Split Into Security, Storage Cos - Bloomberg
@Symantec ($16B mkt cap) is in advanced talks to split into separate storage & security entities, @Bloomberg reports; new CEO Michael Brown reportedly supports the split ... [...] “We are focusing our investments in businesses where demand is greatest and improving operational efficiencies to grow revenue and operating margin,” Brown said in a statement at the time. “I look forward to continuing to focus the company’s strategy to deliver for our customers and our shareholders.”
focus  focused  conglomerate  corporate  Wall  Street  eBay  PayPal  HP  Symantec  economic  history  creative  destruction  competitive  competitiveness  organisational  overhead  M&A  profit  maximisation  shareholder  shareholder  value 
october 2014 by asterisk2a
Twitter Might Have to Buy Its Way to Growth. Here’s a List of Possible Targets. | Re/code
In short, Twitter still hasn’t solved its growth problem. ... Based on conversations with a handful of people in the industry, including VCs and ad execs, here are a few possible acquisition targets for Twitter, and why we think they might be a fit.
Twitter  M&A  Wall  Street  Platform  growth  capitalism  profit  maximisation  user  acquisition  user  churn  Soundcloud 
october 2014 by asterisk2a
Forget AOL — Activist Attack on Yahoo Is All About Forking Over Alibaba Cash | Re/code
many think such a merger [w AOL] could save costs by bringing together two companies that are in the same two key businesses, advertising and content. Others consider it a potential disaster, knitting together two companies saddled with backward-looking assets and a questionable recipe for future growth. That is, outside of acquisitions, which Mayer has employed heavily in the past two years of her leadership, frantically buying up a range of small mobile-focused startups to try to inject more innovation, talent and product savvy into the long-moribund Yahoo. While the effort is laudable in principle, investors seem unimpressed with her purchases, and, at this point at least, they have yielded no concrete bottom-line improvements to Yahoo’s much-flagging core business.
AOL  content  commoditization  commodity  business  Yahoo!  differentiation  differentiate  Tumblr  youthification  M&A  BuzzFeed  Upworthy  Maker  Studios  Marissa  Mayer  shareholder  shareholder  value  short-term  thinking  short-term  view 
september 2014 by asterisk2a
Lex v Wolf on shareholder value - YouTube
aim of increasing shareholder value compelling execs and CEO's to do so leads to always looking for short-term views, decisions, models ... // thus the clay christensen disruption theory ( http://www.claytonchristensen.com/key-concepts/ ) as the original founders leave, and hired CEO strives for short-term optimisation, operational and managerial optimisation and cost reduction ... instead of continued innovation and disruption (even within their existing business). +++ http://www.forbes.com/sites/stevedenning/2012/07/03/does-business-short-termism-require-a-long-term-stock-exchange/ + http://www.ft.com/cms/s/6aa87b9a-2d05-11e4-911b-00144feabdc0
shareholder  shareholder  value  Wall  Street  corporatism  M&A  short-term  thinking  short-term  view  long-term  thinking  long-term  view  corporate  culture  corporate  values  Mindfulness  sustainability  sustainable  crony  capitalism  capitalism  GFC  greatrecession  marketshare  a16z  disrupting  markets  disruption  marketplace  inefficiencies  Public  Policy  CEO  Leadership  management 
august 2014 by asterisk2a
Amazon Pounces On Twitch After Google Balks Due To Antitrust Concerns
Google was unable to close the deal, because it was concerned about potential antitrust issues that could have come with the acquisition. The Mountain View, Calif. company already owns YouTube, the world’s most-visited content streaming site, which competes with Twitch to broadcast and stream live or on-demand video game sessions. One source noted that because of the concerns, Google and Twitch could not come to an agreement on the size of a potential breakup fee in case the deal did not go through. Representatives at Twitch could not be immediately reached for comment while representatives at  Google declined to comment. +++ http://www.businessinsider.com/what-happened-to-the-google-twitch-acquisition-2014-8?op=1 +++ !!Start-Up lesson >> http://pando.com/2014/08/25/twitch-ceo-on-jilting-goolge-amazon-shares-our-long-term-values-but-does-it-really/ !! // Google failed @social & human aspect again. Twitch better than YouTube. + tcrn.ch/1tyKLNv + HN - http://bit.ly/1tDvj2T
Twitch  Google  Amazon  YouTube  Platform  antitrust  Yahoo!  M&A  Jeff  Bezos  acquisition  advertising  engagement  Video  streaming  attention  attention  span  advertisement  marketing  audience  user  acquisition  customer  acquisition  corporate  culture  corporate  values  personal  values  Start-Up  lesson  Start-Up  advice  community  freemium  Entertainment  eSport  gaming  competitive  gaming  network  effect  branding  Brand  Brand  Social  Media  beings  creativity  Google+ 
august 2014 by asterisk2a
A Look Back At Yahoo’s Flickr Acquisition For Lessons Today | TechCrunch
[The Future is uncertain & Vague"] .... Flickr decided in January 2005 to take the Yahoo offer — reportedly for $35 million. There were too many compelling reasons to take the offer during what was still an uncertain time. Because it was early in the growth of tech startups after the dot-com crash, Flickr missed some of the up-tick in the market, as others sold for more when the market took off: Myspace sold to News Corp. for $580 million in July 2005 and later YouTube, which Google acquired in October 2006 for $1.65 billion in stock. “We definitely made the wrong decision in retrospect. We would’ve made 10 times [what we did]. But it’s not like I regret it,” Butterfield says. How can something be a mistake and also be completely correct? The sale left potentially 10 times more on the table. But Butterfield doesn’t regret it because he believes they made the right decision knowing what they did at the time. And he and other team members have all gone on to do well at other ventures.
Flickr  Yahoo!  M&A  Start-Up  lesson  Start-Up  advice  incomplete  information  complexity  unknown  unknowns  acquisitions  acquisition  Silicon  Valley 
august 2014 by asterisk2a
Why Zillow Would Want to Buy Rival Site Trulia: Video - Bloomberg
One of those "Winner takes all." creations? - http://www.cnbc.com/id/101871614 || Together, the two will dominate the traffic for online home listings. Last month, Zillow reported 83 million users across both web and mobile Internet use, while Trulia reported 54 million – a combined 61 percent of total Internet users for the category, according to comScore. [...] Zillow’s goal, according to Mr. Rascoff, is to create a portfolio of real estate properties, becoming more along the lines of an IAC/InterActiveCorp. ( http://dealbook.nytimes.com/2014/07/28/zillow-to-buy-trulia-for-3-5-billion ) +++ http://pando.com/2014/07/28/can-the-zillow-trulia-merger-finally-disrupt-the-home-buying-process-brokers-should-be-terrified-to-find-out/
M&A  business  strategy  ZIRP  Zillow  Trulia  IAC 
july 2014 by asterisk2a
Will Yahoo Buy AOL? | Re/code
But wait: Mayer has told a number of people inside and outside the company that she just does not “get” the merger, despite all the potential benefits. As explained to me, she finds it small, unexciting, uninspiring and backward-looking. Mayer has a point.
AOL  Yahoo!  Marissa  Mayer  Tim  Armstrong  M&A  marketplace  plurality  market  plurality  Huffington  Post 
july 2014 by asterisk2a
Pfizer and AstraZeneca: Deal or no deal | The Economist
IT'S ALL A MATTER OF DEGREE. Degree of vitality, dynamism, plurality & competition further reduced within the pharmaceutical industry in case of a M&A deal. + http://www2.deloitte.com/global/en/pages/mergers-and-acquisitions/articles/growth-through-merger-and-acquisitions.html "M&A deals intended specifically 2 enable growth fail 2 achieve their expressed growth objective." + http://www.entrepreneur.com/article/52090 /// vs. Internal Growth through start-up/entrepreneurial culture within. --->> once you are a public company, your options to facilitate growth are hugely curtailed do to the short-term thinking of money, crony capitalism >> Wall Street. /// http://en.wikipedia.org/wiki/AstraZeneca#Pfizer_takeover_bid + http://www.bbc.co.uk/news/business-27391124 + http://www.bbc.co.uk/news/business-27309851 | BRITISH INTEREST IS & SHOULD BE MARKET PLURALITY. From May 7th. http://bit.ly/QNgGtz - 7 days later http://bit.ly/1k5sGCg | this case; fiduciary responsibility = short-term thinking
market  plurality  Pfizer  AstraZeneca  UK  big  pharma  pharmaceutical  industry  pharma  oligopol  oligopoly  crony  capitalism  corporate  governance  WallStreet  growth  though  acquisition  M&A  mergers  merger  growth  through  merger  Career  Politicians  business  management  short-term  thinking  long-term  thinking  public  policy  antitrust  Competition  collusion  research  medical  research  public  health  policy  trust  trustagent  confidence  Science  R&D  European  Competition  Commission  Europe  regulators  regulation  governance  transparency  accountability  davidcameron  general  election  2015  GeorgeOsborne  Lobbying  lobbyist  lobby  interest  groups  national  interest  job  market  productivity  skill-biased  technological  change  skill  skills  capital  skills  knowledge  worker  White-collar  Blue-collar  Mobile  Creative  Mobile  Creatives  fiduciary  responsibility  greed  stakeholder  shareholder  unknown  unknowns  unintended  consequences  complexity  human  progress  technological  progress  humanity  post-antibiotic  era  external  threats  externalaties  externality 
may 2014 by asterisk2a
Yahoo’s China Syndrome Now Morphs Into WWMD? (What Will Marissa Do?) | Re/code
meeting expectations by WallStreet analysts + meaingful long-term value creation = are incompatible. PERIOD. That is organic, "true growth."
Yahoo!  WallStreet  value  creation  conflict  of  interest  Marissa  Mayer  organic  growth  acqui-hire  acquisitions  customer  acquisition  acquisition  acquihire  M&A  AOL 
may 2014 by asterisk2a
With Alibaba IPO Filing Set to Arrive Tomorrow, Here’s Why It Does Matter to Silicon Valley | Re/code
Thus the big question: What will Mayer buy? Or will the money go to buying back shares? Or what? As many have correctly noted, the Alibaba stake has had a significant halo effect on Yahoo’s stock and, once public, the company will have a definite value that can be counted. And, more to the point, once the Alibaba impact is felt, it will become completely clear how the core Yahoo business is valued by Wall Street — right now, hardly at all — and whether the company is a good deal or not. That clarity means a lot of things for Mayer and Yahoo, including whether it could ever be a takeover target itself — a strange but not implausible scenario that has been brought up to me recently by many players who could pull off such a deal. ||| + I believe a major tie-up between Yahoo and AOL is still in the cards. http://recode.net/2014/05/01/yahoo-and-aol-are-still-on-a-collision-course/
Alibaba  Yahoo!  AOL  marissamayer  Silicon  Valley  M&A  TimeWarner  Comcast 
may 2014 by asterisk2a
The Corrosive Downside of Acquihires
So why not announce big, hairy audacious goals on recruiting the best mobile talent with sign-on bonuses and retention plans? And reward your existing top 10% of employees handsomely. I’ll bet the ROI would be higher than acquihires. .//. .... Friendfeed or Dodgeball - example http://en.wikipedia.org/wiki/Dodgeball_(service)
acquisitions  aquisition  acqui-hire  M&A  Silicon  Valley  Facebook  Friendfeed  war  for  talent  war-for-talent  Top  people  management  ROI  bonuses  bonus  Google  Dodgeball  Venture  Capital  venturecapital  Failure  market  capitalism  entrepreneurship  entrepreneur  Start-Up 
march 2014 by asterisk2a
TARPed, RETARPed, And Then DETARPed | ZeroHedge
Former Merrill Lynch CEO John Thain accurately described the problem to the FCIC in September 2010:
 "when you have a system where you pay someone for originating mortgages simply on volume and nothing happens to them if the credit quality is bad, and nothing happens to them if the borrower is fraudulent on his loan application, and nothing happens to him if the appraisal’s fraudulent, then that’s probably not a very smart system."

Some of the firms sued today had asked the Treasury and the Fed to slow the process so they could settle the claims out of court, according to a person briefed on the private conversation who spoke on condition of anonymity. The impending lawsuits were one subject of an Aug. 10 meeting at Treasury between Bank of America Chief Executive Officer Brian Moynihan and Treasury Secretary Timothy F. Geithner, the person said.

his purchase of Countrywide is now the single worst M&A transaction in history,
FHFA  FCIC  subprime  mortage  fraud  misleading  security  securities  securities-fraud  2011  Bofa  toobigtofail  CountrywideFinancial  KenLewis  merrylllynch  M&A  2008  henrypaulson  history 
september 2011 by asterisk2a
Steve Jobs Puts His Foot Down on Dividends (AAPL)
Apple Inc. Chief Executive Officer Steve Jobs said he prefers holding on to the company's cash hoard for potential acquisitions and "bold" investments, rather than paying dividends or buying back stock.
Apple  M&A  lala  stevejobs 
march 2010 by asterisk2a
As Software Firms Merge, Synergy Is Elusive - WSJ.com
While the voluminous deal activity has meant a bonanza for shareholders -- many software stocks have soared this year, partly because of the hot merger landscape -- Mr. Gonick's experience highlights the flip side: As the big software companies flesh out their integration plans internally, customers on the outside are left with unanswered questions about their future.

But that isn't the only thing that has changed in recent years. Today, many of the companies being acquired aren't start-ups. They're established, profitable companies with a slew of customers.

This has left CIOs and information technology departments with less influence in negotiating software discounts because there are fewer vendors to pit against each other at the bargaining table, though customers can also potentially lower maintenance and integration costs by buying more software from a single vendor, says Eliot Colon, chief operating officer at Miro Consulting Inc., a software-licensing consultancy in Fords, N.J.
M&A  oracle  IBM  peoplesoft  software  industry  synergy  failure  customerservice  HP  SAP  startups  startup  Google  trend 
march 2010 by asterisk2a
Schumpeter: The emperor's clothes | The Economist
But the obstacles in the way of the heroic media mogul are especially big. Advertising is swiftly migrating online, and moving away from media companies as it does so. The internet retains the power to disintermediate (that is, bypass media firms by bringing products straight to consumers) and de-aggregate (turning albums into tracks and newspapers into articles). Few have worked out a way of making money from putting content online. Nor is it clear that a willingness to spend on media-playing devices is a wholly good sign. Consumers bought lots of iPods in the past few years. But they did not spend much money on music.

And there is always the threat that media moguls will go on another buying spree. The industry has a history of splashy mergers and acquisitions, particularly involving technology outfits, which end up destroying value. So let the content cocks crow. But if they start talking about synergies, run for the hills.
conglomerate  tuki  newscorp  newspapers  media  newspaper  M&A  nbcuniversal  comcast  internet  economics  trends  trend  content 
march 2010 by asterisk2a

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