“I have views on most matters, and I am as willing as a politician to change most of them.” -James Agate
I recently testified in a marital dissolution case in which there existed a 10-year-old buy-sell agreement among the owners of a privately held, family-owned company. The well intentioned drafters of the buy-sell agreement sought to provide for the following:
Most business owners know when they are in trouble, but often do not take action early enough. Many factors can contribute to ‘distress creep’ for businesses. The legislative pressure brought to bear on some businesses by the Sarbanes-Oxley act and – of being pushed – or dragged – into the world economy, are just a couple.
One of the great privileges in my business career has been to serve for the past six years on the board of the Federal Reserve Bank of Atlanta, Jacksonville Branch.
In today’s business climate, business owners considering liquidity are facing challenging times in the marketplace. The reason: fewer buyers, with those active in the marketplace being more discerning in their acquisitions. In addition, businesses are receiving lower valuations compared to the historical values companies received a few years ago. And, it is most unlikely that high values will return to those record highs in the near future.
Opportunity knocks, but doesn’t always answer to its name. — Mason Cooley
“It is courage based on confidence, not daring, and it is confidence based on experience” -Dr. Jonas Salk
“The Constitution guarantees you the pursuit of happiness… but doesn’t guarantee to finance the chase.”
Our recent survey of Florida business revealed that many owners did not know the value of their businesses. This fact illustrates one of the major issues owners face in private companies – measuring performance.