Richard Branson, Managing Director, Frank Motech discussed on KNX Programming
Steady right now. Seventy five degrees. Heading up to about eighty in the valleys will get into the mid eighties. If you're heading for the beach at seventy but you might want to stay out of the water, especially with young children. There's going to be a high surf advisory going into effect because of hurricane Rosa later tonight. But the surf right now could be dangerous as well eleven thirty six time to get back to Motech on money. Motech of money continues as Frank Motech top people in the world of corporate merger deals. Private equity and investment banking gathered this past week in Beverly Hills at the association record growth, silly chapter annual conference which included some impressive keynote speakers including Sir, Richard Branson. And with me now Jim Friedman, the managing director at intrepid investment bankers in west LA, one of the organizers of the a CG L A conference. Jim it's great to see you here. Tell us about the conference and some of the highlights for you this year. Franken was one of the best conferences, I think we've had we had about twelve hundred people attending a lot of private equity funds a lot of investment bankers. Lot of accountants lot of attorneys. It was quite a show and Richard Branson. Just did a great keynote at the end. So we're pretty happy. Congratulations on that. And all of this happening in a big week for activity, what sixty billion dollars worth of deals done this week alone. Yeah. It's been a big week. And it's been a big year. And as far as we can tell. Tell the rest of the year looks like it's going to be just as active. So it's pretty good. It's hard to believe it was ten years ago. When I was at this conference. We had Richard Parsons on stage at the day. I got a bailout. We're here for some pretty significant events at the time of during the financial crisis ten years ago. It's been quite a turnaround. Yes. It's been a remarkable. We've had a good run with the economy for the last ten years. And let's keep our fingers crossed that it keeps going for merger activity of through the rest of the year. I think it's going to be very strong. A lot of people are busy even folks that were coming to this conference had to cancel at the last minute because they were involved in in getting deals done. So pretty interesting. What's fueling this latest surge of merger activity? You know, it's just a continuation. Frank of what's been going on the last four or five years? It's a challenge to grow your companies and bigger companies have lots of cash on their balance sheets. This is a way to do it. Technologies. Changing their businesses they need to morph into new types of companies. And so there's a constant challenge for everybody to kind of try to stay ahead and be relevant. Use had a big conversation with sir. Richard Branson on stage. Of course is very active in what's happening in aerospace here in southern California at the moment, tell us about some of the big takeaways with your conversation with serve Richard Branson. Well, he's a remote. Guys, remarkable entrepreneur he's started about two hundred companies. He's broken seven world records and ballooning and boating. He is involved in hyperloop out here. He's involved in virgin, galactic and space travel. He's involved in philanthropy. It's it's tough to find anybody. That's more interesting than Richard Branson any other big takeaways from this today conference here in Beverly Hills. I think just that there's a lot going on. I think that it was very robust we had one hundred twenty private equity groups trying to give away money here. Which is unique. We had a bunch of deal source folks where people come to make deals, and it was as robust as I've ever seen it in the twenty one years we've had this conference. Congratulations. Again, Jim Freeman managing director intrepid investment bankers. And of course, among the folks responsible for organizing the GLA conference. Thank you very much for joining us here this weekend. Great. Thank you Frank taking a closer. Look at some of the big merger deals. We saw this past week. Comcast when the bidding war for the British pay TV giant sky peeled see in a deal valued at about forty billion dollars. We also saw Michael Kors announcing its buying the Italian fashion house for sake that deal value at two point one billion dollars. The new group, by the way will be called Capri holdings. Ltd dodds. However Saatchi will remain as the houses, creative director. We also saw big deal in the mining business with gold giant Barrick Gold buying Randgold resources. And this makes a barricade by far the world's largest gold company that deal was valued at six billion dollars and subscription radio companies. Sirius XM is buying music streaming service Pandora and a stock deal valued at about three and a half billion dollars that allow siriusxm to expand the service beyond cars and into homes and other mobile areas. Also over the past week the financial times reported the chief antitrust enforcer of the Justice department has vowed to speed up merge. Reviews promising corporate America that you will not place an undue burden on dealmaking appointed last year by President Trump to lead. The Justice Department's anti-trust division says he would Andrew resolved most investigations within six months of businesses cooperating provide information at an early stage coming up another giant on the business sane on a leader in entrepreneurship than more straight ahead on Motech on when posting on most jobs sites. You get candidates. I'm the sales director. Director you're looking for. But when you posted indeed dot com, you get the candidates just right for you. I'm a sales director with an MBA over ten years experience. Who's also fluent in Japanese.