An authoritative and well-organized “sell smart” guide.
A manual offers expert advice on selling a business.
Coffey, who wrote The Private Equity Playbook(2019) and has “bought, sold, and financed around one hundred companies in twenty years,” makes a compelling argument for owners to prepare for a business sale years before they’re ready. Whether or not they heed that sound advice, entrepreneurs are sure to benefit from the author’s wisdom. This four-part “playbook” covers the bases: looking at buyers, preparing a business for sale, working with advisers, and managing the sale process. Part 1 addresses two basic types of buyers: strategic and financial. Coffey compares and contrasts them, supplying insights into each. Included is a nifty formula to estimate the size of a target financial buyer. A brief section discusses other buyer types, including Special Purpose Acquisition Companies, which are currently in vogue. Part 2 is all about preparing for a business sale; the information shared by the author here is invaluable. Coffey provides a clear definition of the variations of “earnings before interest, taxes, depreciations, and amortization”—“a measure by which all companies are valued by most strategic and financial buyers.” He deftly explains such key financial terms as cash-basedversus accrual-based accounting, generally accepted accounting practices, and quality of earnings. He also delivers a useful chapter that will likely help business owners increase the value of their companies by isolating their real estate holdings from any sale. Tax advisers, accountants, attorneys, and investment bankers are considered in Part 3. Not only does Coffey describe these roles succinctly, he also presents lists of questions to ask when evaluating such professionals. In Part 4, the author does an excellent job of detailing a typical business sale process, including steps, documentation, and meetings. The “example questions” to ask financial or strategic buyers are sure to help any seller garner vital information. This section also features sage counsel regarding how sellers should behave and why it could be beneficial for them to remain involved in a company even after a sale. Business owners who digest the instructive material in this book should be far better prepared for a maximum value sale.
An authoritative and well-organized “sell smart” guide.Pub Date: Sept. 3, 2021
ISBN: 978-1-5445-2303-3
Page Count: 198
Publisher: Lioncrest Publishing
Review Posted Online: Oct. 18, 2021
Kirkus Reviews Issue: Dec. 1, 2021
Review Program: Kirkus Indie
BOOK REVIEW
A clearly delineated guide to finally eradicate poverty in America.
A thoughtful program for eradicating poverty from the Pulitzer Prize–winning author of Evicted.
“America’s poverty is not for lack of resources,” writes Desmond. “We lack something else.” That something else is compassion, in part, but it’s also the lack of a social system that insists that everyone pull their weight—and that includes the corporations and wealthy individuals who, the IRS estimates, get away without paying upward of $1 trillion per year. Desmond, who grew up in modest circumstances and suffered poverty in young adulthood, points to the deleterious effects of being poor—among countless others, the precarity of health care and housing (with no meaningful controls on rent), lack of transportation, the constant threat of losing one’s job due to illness, and the need to care for dependent children. It does not help, Desmond adds, that so few working people are represented by unions or that Black Americans, even those who have followed the “three rules” (graduate from high school, get a full-time job, wait until marriage to have children), are far likelier to be poor than their White compatriots. Furthermore, so many full-time jobs are being recast as contracted, fire-at-will gigs, “not a break from the norm as much as an extension of it, a continuation of corporations finding new ways to limit their obligations to workers.” By Desmond’s reckoning, besides amending these conditions, it would not take a miracle to eliminate poverty: about $177 billion, which would help end hunger and homelessness and “make immense headway in driving down the many agonizing correlates of poverty, like violence, sickness, and despair.” These are matters requiring systemic reform, which will in turn require Americans to elect officials who will enact that reform. And all of us, the author urges, must become “poverty abolitionists…refusing to live as unwitting enemies of the poor.” Fortune 500 CEOs won’t like Desmond’s message for rewriting the social contract—which is precisely the point.
A clearly delineated guide to finally eradicate poverty in America.Pub Date: March 21, 2023
ISBN: 9780593239919
Page Count: 288
Publisher: Crown
Review Posted Online: Nov. 30, 2022
Kirkus Reviews Issue: Jan. 1, 2023
BOOK REVIEW
PERSPECTIVES
PERSPECTIVES
SEEN & HEARD
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.
“Quality of life means more than just consumption”: Two MIT economists urge that a smarter, more politically aware economics be brought to bear on social issues.
It’s no secret, write Banerjee and Duflo (co-authors: Poor Economics: A Radical Rethinking of the Way To Fight Global Poverty, 2011), that “we seem to have fallen on hard times.” Immigration, trade, inequality, and taxation problems present themselves daily, and they seem to be intractable. Economics can be put to use in figuring out these big-issue questions. Data can be adduced, for example, to answer the question of whether immigration tends to suppress wages. The answer: “There is no evidence low-skilled migration to rich countries drives wage and employment down for the natives.” In fact, it opens up opportunities for those natives by freeing them to look for better work. The problem becomes thornier when it comes to the matter of free trade; as the authors observe, “left-behind people live in left-behind places,” which explains why regional poverty descended on Appalachia when so many manufacturing jobs left for China in the age of globalism, leaving behind not just left-behind people but also people ripe for exploitation by nationalist politicians. The authors add, interestingly, that the same thing occurred in parts of Germany, Spain, and Norway that fell victim to the “China shock.” In what they call a “slightly technical aside,” they build a case for addressing trade issues not with trade wars but with consumption taxes: “It makes no sense to ask agricultural workers to lose their jobs just so steelworkers can keep theirs, which is what tariffs accomplish.” Policymakers might want to consider such counsel, especially when it is coupled with the observation that free trade benefits workers in poor countries but punishes workers in rich ones.
Occasionally wonky but overall a good case for how the dismal science can make the world less—well, dismal.Pub Date: Nov. 12, 2019
ISBN: 978-1-61039-950-0
Page Count: 432
Publisher: PublicAffairs
Review Posted Online: Aug. 28, 2019
Kirkus Reviews Issue: Sept. 15, 2019
SEEN & HEARD
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