35 Burst results for "Joint Ventures"

Depot fire latest to spotlight Bangladesh industrial safety

AP News Radio

00:42 sec | Last month

Depot fire latest to spotlight Bangladesh industrial safety

"Authorities in Bangladesh are still struggling to determine the cause of a devastating fire that's killed at least 49 people including 9 firefighters and injured more than 100 others Efforts to extinguish the fire at the BM inland container facility a Dutch Bangladesh joint venture continued overnight after the inferno broke out on Saturday following explosions in a container full of chemicals officials say the number of casualties rose over the weekend as many workers and firefighters were unaware of the chemical storage there a few hundred workers and dozens of firefighters had been attempting to extinguish the fire when the first explosion took place I'm Charles De

Bm Inland Container Facility Dutch Bangladesh Bangladesh Charles De
What to Expect From the Sussman Trial With Kash Patel

The Charlie Kirk Show

01:50 min | Last month

What to Expect From the Sussman Trial With Kash Patel

"What are the next steps then? So this trial is going to wrap up. There is a period of time between the conviction and then the sentencing, right? Kind of decision of the jury, and then the sentencing, what can we expect next out of John Durham? What are the targets you think he's going to indict next? And has there been anything in this trial that has really surprised you? Yeah, so next, will the sentencing will be a couple of months away if and when I believe sussman's convicted in the next day or two. After that, we have to remind the audience. He already has another indictment in place in the trial set for this fall of the source to steal, and he also has a multiple count indictment for lying to the FBI at ton of times. And for making up all that Christopher Steele information. So he's got that in the pipeline public already. What I think is next is the joint joint venture conspiracy as John Durham has called it in the federal pleadings in the sussman indenting case that he has multiple other targets. And he has said Rodney joffe, the tech executive that was paid millions of dollars to drum up this false alphabet narrative while they were also drumming up their steel stuff. He has said publicly. He John Durham like Rodney joffe is a target of my ongoing investigation. He has also said in his pleading, these other people in the joint venture conspiracy, all that is, is legalese for a bunch of people have to get together to do this. The FBI, the Clinton campaign, fusion GPS, and these guys like Rodney joffe. And the Jake sullivans of the world. They're all mentioned by title in these pleadings. And they're all under his investigation. So that's why I think he's going to get a couple of FBI agents, and he should get Andy mccabe, who orchestrated this entire thing. And Peter strzok, hopefully, as well, along with fusion GPS and this tech guy Rodney joffe. And if he does all that, that's pretty good work.

John Durham Rodney Joffe Sussman Christopher Steele FBI Jake Sullivans Andy Mccabe Clinton Peter Strzok
Will There Be Charges Against Hunter Biden & Joe Biden?

Mike Gallagher Podcast

01:59 min | Last month

Will There Be Charges Against Hunter Biden & Joe Biden?

"For two years, people were shut down. Donald Trump tried to raise Hunter Biden's shady business deals with China. Oh, he's crazy. He's just Donald Trump. Biden said there's nothing to it. Well, settle in and witness the unfathomable. Here is NBC's Hallie Jackson, the morning on The Today Show. Hey there, Craig. Good morning to you. And this morning, we're learning more about the president's son and the paying off of a multi-million dollar tax bill he owed. Now the open question for both Hunter Biden legally and President Biden politically is whether or not there will be any charges in this federal criminal investigation. With federal prosecutors poring over Hunter Biden's finances, investigating whether he violated federal tax law this morning a representative for the president's son tells NBC News, his IRS Bill totaling about $2 million has been paid off. Two people familiar with the matter. Say the money was arranged by one of the younger Biden's new attorneys. Hollywood lawyer Kevin Morris, best known for brokering a deal for the South Park TV show. Does paying that tax bill wash away any liability that Hunter Biden may have now? Paying the tax bill. If in fact that's what he did, doesn't undo the crime. It would be like returning money to a bank that you robbed. You still rob the bank. The president's son and his company brought in about $11 million between 2013 and 2018 working as an attorney, a board member to a Ukrainian gas company accused of bribing a prosecutor, and for a joint venture involving a Chinese businessman. Now accused of fraud, according to an NBC News analysis of a copy of Biden's hard drive, and iCloud account obtained by NBC from a representative for Rudy Giuliani, as well as documents released by a Senate committee. During the campaign, then candidate Biden denied his son profited off of China connection.

Hunter Biden Donald Trump Hallie Jackson Biden President Biden Kevin Morris The Today Show NBC Nbc News Craig China IRS South Park Hollywood ROB Rudy Giuliani Senate Committee
Biden Wrote College Rec Letters for Kids of Chinese Exec Tied to Hunter

The Dinesh D'Souza Podcast

02:38 min | 3 months ago

Biden Wrote College Rec Letters for Kids of Chinese Exec Tied to Hunter

"Turns out there's now a piece of smoking gun evidence that ties Joe and Hunter Biden very closely together in the Biden racket. And it is an email that reveals that Joe Biden wrote a letter of recommendation for a crooked Chinese businessman who was, in partnership with Hunter Biden. So this was a political favor directly extended by Joe Biden. President Biden wasn't the president then, but it was vice president. And this is the same Joe Biden who said, I don't know anything about my son's business deal. I don't have any involvement in any of that. It's nothing to do with me, and this has been the left's mantra now. Now that they can deny the laptop, they are taking refuge in the idea well, Joe didn't know anything about it. Well, let's look at what happened here. Turns out, in 2017, vice president Ben vice President Biden wrote this letter of recommendation for a guy named Jonathan Lee ally. And this guy Lee is the head the CEO of a big company, which was in a joint venture with Biden's Hunter Biden's company, which was called Rosemont, Seneca. Hunter Biden, in fact, had a 10% stake in the Chinese guy Lee's company. And this guy Lee sends a note to Hunter Biden and his business associates, which is Devin archer and Jim bolger, and this is what Lee writes. He goes, gentlemen, please find the attached resume of my son, chrisley. He's applying to the following colleges for this year, and he lists Brown university Cornell University and New York University. And then he attaches, quote, an updated version of his son's CV. Now, what's interesting is to kind of follow this trail. Hunter Biden's associate James Bulger responds with, and he's responding now internally to hunter and Devin archer, he goes quote let's see how we can be helpful here to Chris. In other words, what can we do for this kid? And then a few weeks later, Eric schwinn, who is the president of Rosemont, Seneca. This is the Hunter Biden company. He replies to Lee. And he says, Jonathan, this is Jonathan Lee. Hunter asked me to send you a copy of the recommendation letter that he asked his father to write on behalf of Christopher for Brown university. So what we have here is confirmation that Joe Biden went ahead and as his son asked, wrote the letter for this guy and submitted it to Brown university.

Hunter Biden Joe Biden President Biden LEE Devin Archer Biden Vice President Ben Vice Presid Jonathan Lee Ally JOE Jim Bolger Chrisley Rosemont Brown University Cornell Unive Seneca James Bulger Eric Schwinn New York University Hunter Jonathan Lee
Sen. Ron Johnson: 2020 Report Proved Joe Biden Was Compromised

Mark Levin

01:58 min | 3 months ago

Sen. Ron Johnson: 2020 Report Proved Joe Biden Was Compromised

"Can we tell today senator Johnson if he's compromised And isn't it a fair question Well I think it's pretty obvious that he is We issued our report in September of 2020 And you are right It wasn't like it was very it wasn't well supported my investigation by members of my own committee it just wasn't okay I could not get a subpoena Hunter Biden and James Biden couldn't do it I needed votes I couldn't get the votes So we still without that plus we had COVID It was really difficult to be investigating in 2020 because of COVID We couldn't do it in person So that hampered our investigation But we still got our report out We showed a vast web of foreign international payments It's obvious that Joe Biden was implicated in these things It was obviously he was compromised But our report ended up being a catalyst Mister mc Isaac came forward with his distress Then you had Tony Bobbie saw that he got posed for $5 million that was not invested in their joint venture It was directly given two Hunter Biden That took him off He came forward and Tony bob Lewinsky who met Joe Biden Remember Joe Biden claimed I never talked to hunter about my overseas his overseas businesses And yet we've got these photographs with hundreds of overseas business partners and Joe Biden He met Tony bob lenski Tony bob Lewinsky said that Joe Biden is compromised I think I'll go with what Tony Bobbie's saying So no I truly believe that president of the United States is compromised Is that maybe why he weighed the sanctions on the Nord stream two pipeline Is that maybe why he discontinued the training initiative to the Department of Justice that was supposed to be investigating how China steals our intellectual property and our university systems Is that's what's going on here

Hunter Biden Senator Johnson Joe Biden James Biden Tony Bobbie Tony Bob Lewinsky Tony Bob Lenski Tony Bob Lewin Isaac Hunter Biden JOE United States Department Of Justice China
Ye Jianming, Biden's Partner, Had Ties to Chinese Communist Party

Mark Levin

01:35 min | 3 months ago

Ye Jianming, Biden's Partner, Had Ties to Chinese Communist Party

"Vuk jeremic a Serbian politician had recently served as president of the United Nations General Assembly But an email under the younger Biden that he was hosting a small private dinner in Washington with Yi whom he called one of the ten wealthiest Chinese businessmen and 100 to ten Hunter was unable to attend the dinner and Jeremy said in an email to the post that while he knew both men he was not involved in their mutual introduction and found out from media reports that the two would eventually connected Now this Chinese Communist Party company CFC is a massive oil and gas company founded in two zero zero two 2002 at financing from government development banks ties to the Communist Party of China and the People's Liberation Army according to people who studied the firm yeast official biography said he was once deputy secretary the China association for international friendly contact wow what a name An organization that a 2011 U.S. congressional report called a front for the People's Liberation Army Surely after Joe Biden left the vice president he Hunter Biden and Ye met over dinner in Miami The two discussed business opportunities for the communist Chinese company in the United States including a $40 million joint venture to produce liquefied natural gas in Louisiana That deal failed but yemin was so pleased with his initial meeting with Hunter Biden that after dinner he sent a 2.8 carat diamond a hundred Biden's hotel room with a card thanking him for the conversation according to The New Yorker

Vuk Jeremic Chinese Communist Party United Nations General Assembl Communist Party Of China And T Biden China Association For Internat YI Hunter Biden People's Liberation Army CFC Jeremy Hunter Washington Joe Biden United States Yemin Miami Louisiana
Russia's war spurs corporate exodus, exposes business risks

AP News Radio

01:00 min | 4 months ago

Russia's war spurs corporate exodus, exposes business risks

"The Russian invasion of Ukraine is prompted automakers beer distributors and cargo ships to change their business plans with Russia Russia's invasion of Ukraine's forced a growing number of the world's best known brands to pull out of that country that's become a global outcast hoping to maintain their reputations with the public Charlie Davidson has halted its motorcycle shipments to Russia saying that its thoughts are for the safety of the people of Ukraine Vladimir Putin famously rode a Harley on a visit to Ukraine a decade ago Swedish automaker Volvo says it's avoiding the potential risk of sanctions Ford is suspending operations in a joint venture on commercial vans Boeing and Airbus say they'll stop supplying airplane parts and service one analyst says you basically have Russia becoming a commercial pariah while another says business with Russia is like going into business with the Manson family referring to murderous cult leader Charles Manson hi Jackie Quinn

Ukraine Russia Charlie Davidson Vladimir Putin Volvo Airbus Boeing Ford Manson Charles Manson Jackie Quinn
"joint ventures" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:01 min | 6 months ago

"joint ventures" Discussed on Bloomberg Radio New York

"Now Let's do this baby Only on peacock Demand at avanade a joint venture between Microsoft and Accenture That's why avanade executive Brett Newton says the company is funding student scholarships at MJ IT and earmarking them specifically for women in stem fields What I really like about Avon's scholarship program with MJ 18 is it's more than just a financial investment in the students It's a relationship that we bring that into We picked njt because it's a very different technical university It's deeply rooted in solving business problems with technology which is very much like avignon They're non traditional in that there are much more focused and active in marrying technology to solving world problems and society problems That's not normal of a lot of the engineering schools that we've had relationships with in the past And JIT is very innovative and very entrepreneurial And JIT New Jersey institute of technology Learn more at njit EDU This is a Bloomberg monitor As vaccinations and cabin fever help feed recovery in the leisure hospitality business even through the delta and now Akron variants hotel operators say the historically high spending business traveler remains AWOL and for many that's creating two businesses a weekday one and a weekend one The weekends were almost as busy as we were pre-pandemic Jay Stein is CEO of boutique hotel company dream hotels We're getting back to regular levels but primarily more on the Thursday Friday Saturday nights The Sunday for Wednesdays are slow and some of the venues haven't reopened yet Venues including restaurants and nightclubs operated by the hotels because business travel hinges on more factors than leisure travel such as work from office rules convention schedules and corporate budgets Stein says he and others are waiting to address the industry wide shortage of labor which will cost quite a bit of money We'll raise those salaries and then the prices for the rooms are going to go up You know it'll balance out I'll take a little while once COVID runs through its costs Andrew Bloomberg radio.

avanade Brett Newton Accenture Avon New Jersey institute of techno Jay Stein Microsoft Stein Andrew Bloomberg
"joint ventures" Discussed on The Nice Guys on Business Podcast

The Nice Guys on Business Podcast

04:29 min | 10 months ago

"joint ventures" Discussed on The Nice Guys on Business Podcast

"Fuck is jay wien. I had no idea so. She told me joint venture partnership and even after she said. I never really understood what a. Jv or a joint venture partnership was until i met you and what was so great issue. Smart house doing again. Jay's got he's got his hand his phone enhanced you know. Here's the king of multitask. I i cannot talk right now. i'm on with the nice guys the other guy i. I'm texting my dear wife. Corey rate varies. Stop with the music. Okay so i'll keep talking as you're doing it so i so fast forward let's say about Probably about a year and a half two years. After i met virginia and i met a michael neely event. And i and i hear this guy speaking you makes a lot of sense. I mean he's talking about jv partnerships and he's talking about masterminds and all of that and long-haul. This is jay phys. Ed we go back to. I think it was. Jane albers house at the time and you and i had. This conversation was more about my dad. Because i think you know my family in the background of my dad's selling system and i was just fascinated by number one. There was no pressure. Like you've got to do this because this is the place where you you know you've got you've got to join. It was more of just building a relationship with me and we laughed ass. Aw base for that night to find that that's just who you are. You're a guy that legitimately will help the dumb. That's me understand without making me feel dumb but the second thing is it's like it's no pressure and how the somebody that applies no pressure. Get to be in the tacoma club. And so i start my whole thing with you there because that's totally. You're nice guy. You know what you're doing you've been successful and you have wheelbarrows of money that you've burnt in your backyard. I know that all the all the trials and tribulations you've been to. Where do we even begin with all of this stuff. Jay good lord. There's some burnt. Yes and that doesn't even count my car collection. That's already another wheelbarrows. Well i just think number one. In i i actually think it's probably an error in a weakness. Mind to be honest that joint venturing when you understand it it is so self evident that people either are going to say yes or no and no amount of what i call silliness or pressure or manipulation or sales tactics is gonna make any difference whatsoever. Now that said. I just recently had our website. Our website assessed by professional. And he's like so the very first thing on your website is a buy button and go. Yeah he goes. You're sure you wanna lead with my world is like yes. Hi either you get makes good sense to come and sit in a room with hundred fifty people who are your potential partners are going to send you free leads like. Should i do that or you..

jay wien michael neely jay phys Jane albers Jay tacoma club Corey virginia Ed
Global Plug-in Car Sales July 2021: Almost Doubled to 480,000

EV News Daily - Electric Car Podcast

01:56 min | 10 months ago

Global Plug-in Car Sales July 2021: Almost Doubled to 480,000

"Start with the global plug in car. Sales around the world always interesting to look at. These isn't it gives a bit of a big picture a wider view about how we doing as a planet with the and i've been talking about the august numbers lately but let's talk about the july numbers because it does take longer to assemble the global up global plug in car sales increased in july by ninety four percent year-over-year to four hundred eighty thousand one of the best results ever ever ever the market share. Globally of plug in cars was seven point. One percent. Two thirds of them will all electric going to inside tvs. I father she passenger plug in electric car sales over three million. That's wonderful since the beginning of the year which seems five minutes ago. Three million more eady's are on the road. Market share increased over the year to six point five percent less than july seven point. One percent is expected as well that by the end of the year. We have a six million. there's always i is increasing take rights of ev's but also more sold in the second half of the year so it could be well over six million plug in vehicles also this year. Globally the top selling models for the month of july will would be the ruling hongguang. Mini av the tesla model. Three the testimony. Why and the volkswagen. Id four. In that order id four by the way pretty much on par. With the tesla model y both fourteen and a half thousand sales in july globally. The highest number of new plug in electric car registrations noted by byu they lead the way and byu were a long way ahead of tesla in july By like eleven thousand vehicles. Byu then tesla than saic gm. Which is the joint venture in china of general motors and volkswagen in fourth place. About six thousand behind tesla

Eady Tesla BYU Volkswagen General Motors Saic China
Breaking Down the Science Behind OneWeb's Planned Constellation

Daily Tech Headlines

01:39 min | 11 months ago

Breaking Down the Science Behind OneWeb's Planned Constellation

"On monday we talked about the successful deployment of thirty four internet satellites by uk. Communications company one web bringing their total network to two hundred eighty eight satellites. Their goal is to reach six hundred and forty eight satellites by twenty twenty two. But how in the world does the internet come all the way down from space satellites straight down into your ears right. Now let's take a closer look at some far out satellite science one. Web satellites is a joint venture with airbus. They aim to deploy a constellation of up to nine hundred. Low earth orbit satellites at around one thousand two hundred kilometers altitude to provide high speed internet. These efforts intend to compete with spacex. His starling system which currently has one thousand seven hundred internet satellites orbiting the earth at five hundred fifty kilometers altitude amazon also has plans to launch internet satellites for its project copier constellation. All of these companies are aiming towards providing low latency internet from space. But how does it work rather than sending internet signals through electric cables satellite internet beams information through the vacuum of space or it travels forty seven percent faster than fiber optic cable. This is particularly interesting for remote locations where laying electric cables is complicated in order to transfer a signal. You i need to emit one. So i and internet signal is delivered to a large antenna or earth station on the ground and this station then sends radio waves up into space targeting a specific satellite which is around the size of a large table.

Airbus Spacex UK Amazon
Politico Sells to German Publishing Giant Axel Springer in Deal Worth About $1 Billion

WTOP 24 Hour News

00:15 sec | 11 months ago

Politico Sells to German Publishing Giant Axel Springer in Deal Worth About $1 Billion

"No Price disclosed, but it's reportedly worth a billion dollars. Axel Springer and Politico already have a joint venture with political Europe. Celebrity chef Gordon Ramsay is bringing a restaurant to D. C. The Washington

Axel Springer Politico Gordon Ramsay Europe Washington
Ghost Kitchens See Light of Day During Pandemic

The Daily Dive Weekend Edition

00:55 sec | 11 months ago

Ghost Kitchens See Light of Day During Pandemic

"Of ghost kitchens is expanding exponentially, as is investment in the concept. What's a ghost kitchen and then those? No, It's not a place where ghost is the chef Michelle Romano, Tech entrepreneur and co founder of Clear Coat. These are very small kitchens that are designed to serve only customers. That order from them from platforms like seamless or uber eats. And so there's no need for a storefront. There's no need for guests eating, Romano says. That means you don't have to invest a million dollars to start up a ghost kitchen like you would a regular restaurant. You can set up a ghost kitchen now. $50,000. Now This isn't just about startups and entrepreneurs. Grocery giant Kroger will begin preparing restaurant meals from Ralph's location in Los Angeles this fall. More kitchens will be added in stores later this year in a joint venture with Kitchen United, which specializes in ghost kitchens. As many as six different restaurant companies, including local, regional and national brands will be featured. Gregg

Michelle Romano Clear Coat Romano Ralph's Location Kroger Kitchen United Los Angeles Gregg
Ford: Electric Vehicles to Be 40% of Global Sales by 2030

AP News Radio

00:42 sec | 1 year ago

Ford: Electric Vehicles to Be 40% of Global Sales by 2030

"Ford expects forty percent of its global sales to be electric vehicles by twenty thirty as it adds billions to what it's spending to develop them the automaker says it will add about eight billion to its electric vehicle development spending through twenty twenty five that would bring the total to nearly twenty billion as board begins to build batteries in a joint venture with SK innovation right now board only offers the all electric Mustang S. U. V. but by next spring it will happen all electric F. one fifty pickup and a battery powered fan Ford says seventy thousand customers have put down a hundred dollar deposit on the F. one fifty and the company says it has plans for an electric Ford explorer SUV I'm Julie Walker

Sk Innovation Ford Explorer Julie Walker
Myanmar Is on the Brink of Collapse

The Economist: The Intelligence

01:50 min | 1 year ago

Myanmar Is on the Brink of Collapse

"The roads outside me on mars government offices are splattered with red. Paint protests against february's military coup or unrelenting and demonstrators are trying to shame the generals the paint red blood spilled as the army's campaign grows increasingly brutal and indiscriminate a week ago on state television the announcement. Twenty-three protestors would be put to death. Hundreds are already dead with the is undeterred. Strikes and boycotts are strangling the economy on the country's fringes rebel militias made ethnic minorities. That have fought. The government for decades are banding together and external pressure is rising targeted international sanctions are stacking up this week. The un's human rights commission lambasted. The army's crackdown the military seems intent. On intensifying its pitiless policy of violence against the people of myanmar using military grade and indiscriminate weaponry. They're clear echoes of syria in two thousand eleven. He'd an investment are all but frozen just. Today a south korean steel-making giant called posco said it would hold plans for a joint venture. The country is fast heading toward becoming a failed state but both sides of the conflict are dug in determined and seemingly fearless. The burmese military is gunning down people from all walks of life. Charlie mccann is the economists. Southeast asia correspondent students activists taxi drivers even children. They've killed scores of children and even in the face of that danger. People are still protesting in in big numbers. Yeah that's right that's still demonstrating but these administrations have gotten much smaller. Since the military started cracking

Army Human Rights Commission Posco Myanmar UN Charlie Mccann Syria Southeast Asia
Interview With Jon Damush, CEO of Iris Automation

Airplane Geeks Podcast

02:18 min | 1 year ago

Interview With Jon Damush, CEO of Iris Automation

"Okay our guest is john damage. He is the ceo of iris automation. They produce the cassia which is platform agnostic. Three hundred and sixty degree radio computer vision detect and avoid system for you a. s. and they also have something they call the regulatory resource center. Which is an online tool that manages. The bbc loss waiver application process. How john's got a really nice long. Fantastic aviation technology career. He led new. Business ventures at boeing next. He was chief growth officer. At boeing's subsidiary in situ and he was a boeing executive liaison and board observer to sky grid which was a joint venture between boeing and spark ignition. John was also the ceo of two d three sensing they're a leading provider of computer vision based image processing software for aerial surveillance in on top of all that he's also an faa certified commercial pilot. He has multi-engine an instrument ratings and he's a cf. I the certified flight instructor. John welcome to the uav digest. Thank you very much. Max and i'm calling in from southern california to stay on team there. We go which probably makes both of your little bit jealous. This time year. I grew up in new jersey so i definitely remember what late february early march felt like This tease of spring but winter holding on for dear life. Well we were at seventy three degrees today. So i actually had the hanger open at the museum which was kind of a nice thing was on the teas. Get the punch is coming all right. Well john why don't we start off talking a little bit about the products and services that irish automation offers Detected avoid is certainly a big part of what you do. Yeah i would say. Detection is primarily what we do we at our core our computer vision and machine learning software company and what the founders of our business realized is that the drone industry was not going to be able to grow exponentially like all the hype held for so many years until drones were allowed to fly more like regular airplanes

Boeing John Damage Iris Automation Regulatory Resource Center BBC John FAA Southern California MAX New Jersey
"joint ventures" Discussed on M&A Science

M&A Science

01:54 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Get a transaction. Close definitely have popped up on a on a number of transactions that involve. I'm sure that's now. Become part of the diligence process. Yes you had to make the decision on whether it's a good thing or a bad thing when there's kids in in spouses involved in the same business. Imagine that adhesive complexities and if you're not a prepared for the more surprises for sure. Thank you so much for time today. Really appreciate the conversation walking through how to scale. Jv model thanks. Here's the deal..

"joint ventures" Discussed on M&A Science

M&A Science

05:32 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Additional purchase price. They thought they were gonna get. There's always a disappointment. There you have to kind of walk them through that not really set sellers remorse because at the end of the day. I think you know. The vast majority of our partners are very happy that they argued with as you especially during the pandemic. everyone's been through in the last year because it was really a great time to have a partner versus being single owner in a business especially in a healthcare related business where you're researching on websites trying to find out if your business is allowed to be open and the governor's putting out mandates on what businesses are essential nonstop. It was a really a great time to have a partner to help you. Control your labor in make sure you're complying with all these new laws that were being put in place. I think our our partners are thrilled with the decision. They made this model. Where other industries could we apply this to. Obviously we need a fragmented industry. Which is why. It's so right for a lot of the healthcare and you sita's in whether it's dennis dermatologists and that's where you see a lot of these these roll up strategy in the human healthcare space. The fragmentation obviously is one big keys. Because if someone's going to invest into space knowing that hey there's clinics out there for all the competitors to buy which is why there's so much pe you in the space. It's pretty low risk as well. So i mean it's one of those things i've heard people say investing in this space. It's not gonna be some crazy multiple or the the firm gets ten times their investment. But it's give me a solid low risk double or triple a. Might not be a grand slam. But there's grand stands out a lot of risk interesting. Yeah you're right running on industries. We can do this in many years down the road. Once it becomes more consolidated you'll probably see more strategic buyers because of that coin you'll have some of the consolidators probably mine each other versus outline. Right now's new e firms coming in space that have been again face every industry i'm thinking of that's fragmented. There's somebody doing a roll up our as they're doing any of those managed service providers the other security agencies that you see the car wash industry. I mean there's healthcare like we talked about whether it's behavioral health is seen a lot of different service providers whether it's h prepare anything really any type of people based service provider business. It's pretty right. We got a good amount of practitioners new to the industry for working on manet. Even it house folks. That are now getting active. What kind of advice would you give for. Actors earned work in the first deal. Inc it's really about giving in a place where you can do deals. That's how you learn in this space. Just doing lots of deals. We have someone looking to get into corp data. I would want to try to get in with the company that kind of key to their business model. Not just you know. We'll do one or two deals a year. 'cause companies did not do a lot of acquisitions they start having discussions have do. We need a core team right. If only gonna do one deal a year on this go hire a big four accounting firm an investment banker. They can do it for me versus investing in dedicated person. Obviously you want to make sure your keep yourself busy when you're employed somewhere but i'd say it's just getting in a place where you can do deals whether it's doing corp dev were for a company where you can really focus on just doing yeltsin company or coming at it through the transaction services space where. He's at work on a lot of deals to kind of learn that way or from the banking side. There's obviously lots of different avenues. Forgetting deal experience for someone that does it kind of want the same thing every day where it's hey. Here's what i do each month. And i kinda wanna keep doing the same thing on line of work to get into the lower. Your are obviously gonna have your task roles in the process but try to always offer to help your bosses go. Sit in on the management meetings. You may be able to talk on. Call they go and sit your boss's office in kind kinda just absorb as much as you can. Everyone's looking to kind of grow their careers. Just be a spy. Jin absorb as much information as you can. Cause you'll learn on everyday you do being that it's in negotiating a deal. I mean i've never done a deal. It's the same everyone's s good point. The closest is deal. A hands on do you have a preference for working on these kind of consolidation strategies or would you ever go back to work more of the traditional strategic approach where you're working on a variety case by type of strategy. This is my first time doing it from both p back company but also i'm consolidators space. So it's definitely challenging and the deal flow is pretty aggressive. I i like it. I definitely like the p. backspace denver public company before. Because you know sometimes you can have. Competing priorities have been public company. That's having manage their profitability. A quarter at a time for the street and staff. So one year you may be really focus on acquisitions in the next year. We're here we're gonna use are available cash to buy back shares and things like that. The one thing that i liked about consolidator he back company is that they're always going to be a line with what i wanna do. 'cause a consolidator is gonna do deals. That's really the point of why they exist. So you know you're gonna have plenty to do and not have any kind of months where you're may be sitting around at working on different projects because the company is not focused on doing anything. Acquisition was the craziest thing. I was thinking of mind. Potential foreign practices that issue. I was that was presented to me in barcelona years. Probably the one thing that comes to mind in reading like disclosure schedules on deals. I mean it's amazing that when you're buying people based businesses like kind of the things you have to get involved with and trying to close a deal and there's a divorce involved in you got a spouse that's on the title for the real estate you're trying to do. It's amazing how things that you didn't think you'd have to get involved in maryland. Disputes in order to.

one last year next year both first deal two deals first time barcelona one big keys maryland each month one year one deal a year double denver ten times one of those triple each one thing
"joint ventures" Discussed on M&A Science

M&A Science

07:32 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Make sure they're comfortable and know that. Hey nothing's going to change your day alive other than there's a new partner. It's there to kind of help. Make your job easier for you. Obviously retaining our veterinarians is really key in having a successful acquisition with these sort of learnings that you pick up build a deal as there an approach that you have to retain it is her age. We have a meeting. Do like a a retrospective or post mortem talk about what went good while went bad. I'm kind of curious. I feel like different organizations. Approach that differently alive and gets this guys kind after your clothes when you really call it like a budget hand off a. That's kind of a call to kind of recap everything. We had our finest There the ops team gration to make sure that everyone is kind of that transfer of the knowledge whereas talking about making sure that they understand. Our first forecast talk about any intricacies and things like that a lot of its via communication to and were still somewhat of a small growing companies. There's constant communication amongst the leadership team on learning from past mistakes and how we can build on our success. We also do do a lot of surveys. we'll send out surveys effort slows to are now partner right. Hey what did you not like about the process. Everybody complains about diligence. So you take some of that with a grain of salt. We're always looking to improve and get better. I mean that's one thing i challenged. My team is that. I don't like anyone who tells me that when you ask them why they're doing something a certain way last because we've always done it right. I mean i wanted to always be challenging norms in looking for better ways to do things awesome continuously optimize when it comes to task. You can't delegate to other team members. Oh you handle. Prioritization of tasks manage the different responsibilities. You have underplate. It makes insurance want you have a very good team underneath you trust. Because i'm the one that's held responsible. So i can't make all the decisions you teach train them to make sure they're flagging the appropriate issues up to you or i need to get involved in also keep them as involved as can't hate when it's something that needs to come to me but keeping them involved in the process they can learn from the way i'm thinking about things making decisions so ultimately you can push in delegate more stuff to them so i can focus on other things if you've got twenty deals and obviously on any of those deals and important issue above the address some of. It's obviously just not knowing the timing of winter schedule a wisdom to close you kind of have to. It's an issue that's kind of equal importance. I probably need to focus on the one for the deal. That's going to close as soon as we like to do onsite closing. Trawl deals in when. You're doing the math when you're closing forty plus deals a year. That's one a week most weeks year. Sometimes two a week. You'll have some gaps. You really have to keep those deals on track to hitting their clothes dates or really becomes a nightmare for your integrations team of deals are constantly shuffling around the closed aids because it puts a strain on your hr teams to because they're setting up payroll to go live on a certain day or benefits in those aren't things that can be easily changed with the flip of a switch. It requires some time and effort from those teams so we try to stick to our clothes countered miss we can possibly keep our ties in using the software and things. You have your fingertips to help flag issues and things like that emails. A big part of any companies far communication but it can get someone overwhelming so you try to find ways of centralizing the communication or it's not just via email that i can spend all day just answering emails. It's not the most efficient use for best use of my time. Absolutely keep the questions coming. What is your exit strategy. What's the time line for that. Kinda market will dictate that. Obviously when they entered into the investment they don't have a date they have to be al but where the market where it is today and continue to grow. I mean what we kinda tell. People is probably in the next two to three years would be the most likely exit event for our sponsor the market will end up dictating when the right time that is diligence. You always come across these surprises. I'm curious if you've seen anything interesting on deals if you've worked on maybe this particular your space or even some of your prior roles if you have any interesting stories around surprises you come across for your post. It somewhat related to diligence when thing that comes to mind and prior company we were looking to do an acquisition in spain and we went over to spend time with the the owners of the business. We went to dinner with him. It was in harbor and barcelona in his broken english and he basically said you know if you do good diligence you can have one of these boat. We have not doing that. Acquisition bay with the foreign corrupt practices act in bribery. And things like that was going to be real kosher but that was something that it was interesting. Obviously different parts of the world. Different things are accepted as a us based company. That time that wasn't gonna fly is that was somewhat of an interesting thing. That happens to me on a deal. Dealing with somewhat of say unsophisticated sellers from a financial perspective. Some deals during code where you have some valuation gaps. We do earnouts on certain deals. Even though these earned outsor- negotiated at arm's length with both sides represented by counsel at the end of the earn out period. Where you had to find metrics they will have potentially achieved none of the metrics they get the earn out. But they're still like no. I didn't earn it. Can you still pay explained now that the businesses kind of underperforming and it really wouldn't be a good use of our capital to put more money into it based reform. It's by the unique things dealing with a small business owner versus in my prior lives doing large billion dollar acquisitions. it somewhat of a different negotiation process. That's one thing that's unique about the jv model to is that the traditional hundred percent deal add save negotiates be somewhat more adversarial. You're two parties negotiating the best deal and sometimes you go your separate ways. Hey you buy the business in the person you bought the business from might not even be coming on as an employee of the new business but here arguing with these people so you kind of had to explain to them in you want to really make a fair deal for both parties because if you come in to buyer friendly you may get the deal closed. But you're just gonna create headaches. Fear itself post closing when they may be realized things that they didn't understand that the deal negotiated that's an interesting view because it does give you more incentive to be fair you don't want them off the afterwards. Yeah and as a consolidator. We heavily rely on our is referrals to buy more clinics. Does me no good to get a great deal. You know i pay less than marquette. Maybe a very buyer friendly indemnification structure. That really doesn't do me any good. And then i have an upset art. Riposte closing you know. I saved a couple of candies. That's gonna cost dollars on the back end because he's not gonna help refer b- at other clinics. What do you see is like houses of seller remorse. If it ever does happen we use our partners handling all say it's a fair deal on you know sometimes no fault of anyone yes. Sometimes the business dismay not work out. Sometimes they lose it a veterinarian. You may have a high producing veterinarian that decides to move to a different state or for family reasons decide. Stop working right and then you gotta go find a replacement. Obviously that's going to affect your profitability. So everyone wants to have a successful deal. I think sometimes when you have earnouts involve anytime. Someone agrees to earn out in their mind. They're going to achieve that whole earn out. Obviously when you get to the end of that period if someone has an urnov.

spain barcelona two parties both parties two a week today one a week forty plus deals both sides twenty deals english hundred percent harbor billion dollar three years foreign corrupt practices act one thing one jv first forecast
"joint ventures" Discussed on M&A Science

M&A Science

07:28 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Fade to go spend the money and then hope it works out but luckily we've been successful and it's worked out for us. Let's talk through the telltale signs about adjusting. The size of your emanate team for anyone. A lot of it especially being consolidated with a lot of deal activity. I think some of it is when you can't keep up with the deal. Slow you start identifying bottlenecks in the process right. Because i think we we use them in a software platform and were we track all phase of the process from once in indy as side. To how long it takes us to get the financial information back from the potential partner to work presenting the deal for approval to getting the l. ally issued to sign all the execution phases as well once side. How long does it take to get our first legal drafts out. How long does it take to get big q. Report down with our third parties. Anytime i started. Seeing you know how bottlenecks in the process and definitely looking to add to the team of a person could solve some of those problems sometimes. It's it's changing process. But if i say this is just a bandwidth issue as need another person that obviously a key time to add someone you know just getting the daily vibe of your team too you can tell when people are being over weren't there may be keeping up. It's just probably working more hours than they are. You liked them the word so it will and can have a balanced style with something as a leader of a team. You just got to keep your eye on. Make sure your team still be productive but also happy when the work they're doing is getting challenging. Were in not just having to dig monotonous activities. Chevy's it's not really helping me grow as a corporate owned. I'm always interested by this because all these organizations that we've ever worked with. They have such very team size when it comes to their emanate function. I'm curious how do you assess between operationally. We need to adjust things to be more efficient We need to throw bodies at this. A lot of corporate development teams one or two people. I think it's different when you're a consolidator. Because a lot of companies the corporate development group or person is opportunistic. We need to add to this business segment. Or here's a new technology that you make the buy versus build decision and you don't really need a big team when you're kind of opportunistically doing one or she deals a year but for us. I mean that's orbit. We wanted to go. Do forty deals a year. The funny thing though is as competitive as the market is i wish i wanna do forty deals i could just go issue for the is right. But but that's not the reality and how competitive so a lot of your team's work is spent on deals that will never come to fruition. It's somewhat of a volume game. It takes a lot of effort to do. The valuations in produce. Yellow is even negotiate can sometimes Then you never actually win the deal. You know it's finding that balance and like you said we're always trying to improve processes figuring out okay. How can we get our close rate at the. You know things like that. Where ancient kind of takes some of the workload off of my tv instill allow us to close the same number of beale. It's a constant challenge of. Is it at a body or is it improvement process. Yeah that's interesting. How you got to figure that out. Is there certain things that you've seen as you've been involved with this and how it's evolved. Because they i feel like with consolidators like you mentioned a lot of times. You can have a really small core core fifteen. That's doing the front end of the process. Ersan deals tracking it running through the coals. And then what does that structure look like when you have to go through the other components of integration and things ask for you have a dedicated team around that like. I'm just curious. In general how you seem earth things evolve and what are the lessons learned in driving that process to be efficient. We really have three distinct teams. We have visited the team which is in charge of sourcing. The deals where they're servicing. Their own does not necessarily deals coming in from bankers brokers but actually out there pounding the streets you know meeting veterenarians through their. You know a lot of our bt has history in animal health space product sales people in the in the veterinary spe selling drugs or or different different products so that they have a lot connections in event space and we're working those connections. In addition to gold calling to you'll going off lists of the veterinarians in their markets. Where they're the right size. We live to approach. But also you know that. I have developed team which is really knows from an identified opportunity all the way through closing the transaction but we also have an integration team as well and so that's an important hand off later in the process between my corp dev team who as most of the knowledge on this particular clinic is where the most heavily involved in handing that off to the operation the integration team interesting approach. Three distinct teams is dave. You're doing your own dealers nation or do you. Use bankers are you. Yeah we do set a we august. They get a lot of inbound stuff from you know. There's a lot of business brokers in our spanks year not necessarily as many. I wouldn't say true investment bankers because they typical veterinary clinic is just a little on small size for a big bank. But you'll see groups of clinics come to market together and then and then you'll see more. Traditional investment banker get boss a lot of business brokers this specialized in the space. That's a deal source. Then you rely on your own team to go out there and source thrown deals then they can actually find deals that maybe the seller the future partner we're talking to is not shopping and around and taking dairy competitor out there maybe get lower multiple with less competition which obviously a good thing for us. That's a value on your proprietary metro earlier. Conversation jeremy seventy two staff you can always outsource somebody's functions as well. I mean obviously. We use third party you the firms to do that. We obviously had outside legal counsel and stuff we do have aligned interaction with already made me my team or the one making the decision along with working with our internal teams in also external parties is world out. You have the business than you're on. The corporate side really isn't negotiation finalizing terms. I saw question from deb on chat. What percentage of the business does the original owner usually keep on average. It's thirty percent okay. Could range a little bit or right around thirty percent. We have some dinner at forty nine percent. Most of our deals are between that twenty to forty but we have not liars there. We have a majority interest in all of our clinics. It thirty percent is the average for the retained interest for the veterinarian. When you take those deals to close even prior to that you get the integration team evolved. As if anything specific that you've seen up you become more efficient between running a deal or or knitting between the different teams in a deal process. You learn from every deal everyday's a new day. I learn something every day. Some do come. You do a lot of deals. It's amazing how they're all still unique so constantly whether were negotiating employment agreements. Working with our hr team and our partners is figuring out the right timing. We face this on every deal just like any anyone selling business. They're always little apprehensive to bring everyone over the wall on their side until they know the deal is going to happen. There's always that risk in canada the disruption to your own business so that's a challenge Integration teams to getting the seller comfortable to informing the staff. Instead of so we really can make sure we have a smooth closed. A smooth integration. So we're always learning from that on ways to get the partner on board with that. And how we about handling the negotiations for our a revenue generators which are canarian and typically. Let's say in a vet clinic. They may have three or four veterinarians. Only one of them as a partner. Who's really going to be giving proceeds from this sale right so you really have to spend some time with those associated veterinarians the ones. Who are you getting any equity..

thirty percent jeremy forty three one twenty forty deals two people four veterinarians three distinct teams Three distinct teams forty nine percent canada a year seventy Chevy first legal drafts around thirty percent Ersan two staff
"joint ventures" Discussed on M&A Science

M&A Science

07:13 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Know you just gotta approach last week by xyz p. e. verb and they gave you the sort of multiple or cast on what they would pay for it a little let me sort of explain our model and why it's different. I think that's one of the challenges. Right mean obviously one hundred percent acquisitions. A lot easier to understand. We're going to pay you x. Versus when i'm showing someone term. She is going to include in different components. So we're gonna pay you a multiple on your dial up front then we're gonna show you a time line of you know up until a recapitalisation during that timeframe you're going to get paid a salary and then also get profit distributions for your you know the percentage interest you have in your clinic and then also at the same time you know having assumptions based on where the market is it. Didn't here's what we think your. Let's say thirty percent retain interest is going to be word. They stopped the multiple a few years or a couple of years down the road after coaching of our business development people. It's not just a relationship job to they really have to understand and explain some complex innings to a doctor who that's not their know kind of bread and butter they practice medicine they're thinking about multiples exit recaps and things like that. So it's something you definitely have to walk them through but to show the value in our model and how to be a lot more beneficial versus taking a little more upfront but you know. He enters risk and ball as well. So that's why you really have to sell them on the industry and how we really believe based on recent eggs multiples for our competitors did. This is going to come true. And it's it's not a pie in the sky type scenario where you're selling is. Hey i'm going to buy a portion of your clinic and you're going to retain partial ownership you're keeping all these entities independent. They're keeping essentially the same structure. Or are you still acquiring them into a larger company is still like an asset sale. They're all asset. Yes so we set up a legal entity reach the clinics. We acquired it's in its own legal entity and there's obviously some structuring involved to just in the vet space but certain states prohibit the corporate practice of medicine so you have to kind of structure around that. Were you have a veterinarian own. The actual legal entity that employs the veterinarians. And then you have years inter-company agreements and things like that each of our acquisitions sits in its own llc entity i'm wondering how does that fare when it does come time actually exit the portfolio. We have to address complicate things in our operating agreements. It's one thing when you're negotiating an agreement but you're also having to contemplate what's going to happen in future as well which is an unknown so it's really odd to find out you know. Based on what their ebid. I is at the time of exit. So you know if they can grow their clinics. They're going to do better than they would if they if they don't grow the clinics that's all laid out in the operating agreements. And it's things that we usually get involved with the other side's legal counsel on the veterinarians. Don't get too involved in. They want know when they're going to get their money and they'll get the next big check down roads but it's it's it's nice drivers for them because it's like the growth equity model where a we're going to let you take some chips off the table but still give part of the secondary exit as very generous for veterinarians where there's Jd consolidators in our space. That will it has kind of predefined amount that they would get on exit ours is hey the better. We do the better. You'll do right so the higher multiple amir that gets when we take our whole platform to market better. You'll do so. Do you see other groups that would keep a single entity and basically give them fractional ownership into the yen dappling so most of our competitors. Jd exposes they're setting up clinics in the individual entities. But a lot of them are doing top with yes where you're getting equity in the overall parent company versus equity in your individual clinic. We kind of set ours purposely this way because now everyone controls their own destiny. You kind of get some people that want to rest on their laurels in just let all their other partner clinics. Pick up the slack. Where here is you control your destiny. Hey you really believe in your thinking growing you're gonna do better off whereas one of our other clinics under our portfolio doesn't grow as much they won't benefit as much so we really want everyone to be aligned to drive in the same direction and help grow the clintons as interesting some interesting givers and considerations around with structure to go with that kind of structure. What concerns do you see from these clinic. Owners when you start talking about this kind of model a lot of it is making sure they really understand it. This year's been challenging with the restrictions on travel. 'cause obviously it's a lot easier. Explain this sitting down with someone who walked through an ally versus having to do it over the phone or a resume calls espinha challenge for a business development team interesting. Guess the other part of this is where you done with the transaction. Are you doing immigration at all. A lot of our integration is happening pretty closing once we go lie. Close a clinic there on our benefits. They're on our payroll also kinda last thirty days before we close our integrations in ops teams. Really get involved in meeting the staff by answering all questions. They may have and also getting them on board for payroll benefits and things like that because the of the day. We're a people business and we really want to make sure that the employees are comfortable because really nothing other didn't name of who their payroll check is coming from. Nothing relate changes on a day-to-day basis is really important for us to keep the culture of the clinic or by we don't go change their name all of our clinics keep their names or really this there in the background to help in assist them grow their clinic. Take things off their plate interesting. Sounds like you're still catching some cost. Synergies you're sort of picking out some of the stuff that you could leverage in terms of the the energies on scale but then still allowing them to have the autonomy. We even let them choose their own suppliers they always end business with. We have contracts with all the suppliers myspace the space in obviously can get better pricing if they can take advantage of whence they come under our umbrella so there's always immediate cost synergies from a procurement status. Most clinics are small businesses right. I'd say between two to three million of revenue. They're focused on delivering medicine to the pets. And they're in their asians and not necessarily focused on driving down their cost of goods sold as low as they can't. They have low hanging fruit in ways that we can help these clinics out both from growing revenue but also reducing expenses at the same time. Order some challenges you need to consider when building a jv model the scale when you're starting off. I think it's always that tough decision on spending all the money to invest in the infrastructure that you know you're gonna need at some point you actually have the clinics under your umbrella. The profits and revenue to kind of justify spending all that money you. Jv models complex. There's a lot of cooks in the kitchen. You live interaction with your partners. Because they're co owners business and owner of a business a lot differently than just an employee as far as the information they want to see in their involvement in decision-making gossip think about it to a lot of tax returns to file. So just there's a lot of kind of administrative staff has to take place in a jv model since one of those things to that. Most people kind of slowly built the team structure making sure the revenues are they're justified to believe.

thirty percent last week two Jv one hundred percent three million one both one thing each year thirty asians xyz single entity years jv those days
"joint ventures" Discussed on M&A Science

M&A Science

08:40 min | 1 year ago

"joint ventures" Discussed on M&A Science

"Ceo and founder of deal room. Dan here with clayton. Stanley is president of corporate development at amarah vetinarian partners lane his previously had roles as vp cooperative ntt data rector of corp dev xerox and worked in transaction services. Ewc we're gonna talk about how to make the jv model work scale and figuring out the right size of the emanating a cling to kick us off tell tells a little bit about your role and organization. Thanks guys on our from maryland Veterinary partners private equity backs. That clinic consolidator headquartered in san antonio texas. We were started in twenty seventeen in canada because financial backer is a private equity firm out of canada. Called imperial capital. I came on board. In august of nineteen is the head of corporate development. today we're about eighty five clinics probably around one hundred twenty by the end of this year so we have a pretty aggressive targeting a lot of clinics in our current sign. Although i pipe line i came on board to help run the corporate development being that. We're a consolidator. We kind of have to separate groups. I've got a separate team. Our business development teamed handles all the sourcing side in really once we have a live opportunity to negotiating the nba and yellow. All the way through. Uchida's what my team is focused on where our team is. The relationship team is focused on finding the partners that are interested in partnering with us. The industry itself has generated a lot of interest from firms. What are some of the reasons. The industry so attractive and still very highly fragmented industry estimates aren't still up to eighty percent fragmented. And when i say fragmented i mean. Eighty percent of the that clinics are still owned independently by the veterinarian. So there's still a lot of greenfield where even though there's a lot of competition in our space there's a lotta clinics for consolidators by or still probably in the early innings of baseball game as far as in the industry becomes more solid in and it gets tougher to buy next. That's one reason. Another ad saying the private equity firms make very good return in investing in this space to high margin business the margins for typical good veterinary clinic or the mid twenties. And it's a very low risk business. A couple of other advantages are there's the lack of strategic buyers in the space typically. Most of the people buying the clinics are the p. e. back consolidators. Like ourselves it has a private pay revenue stream on life human health. Care where you have. The government through medicare medicaid setting your prices or the big payers. The blue crosses the aetna's united's of the world setting your prices here you know. The veterinarian's can set their own prices. It's a cash pay when it service model. The industry has proven to be recession pru compared to other industries in also even more recently that business arrived throughout coded. So i'd say it's even pandemic bruce in there's also a couple of other things millennials. Research is showing. They're delaying starting families. They're buying pets instead of having kids it at least putting that off which is obviously in a positive for the industry in another thing too. Obviously anytime of private equity firm invest in that portfolio company. They're obviously having exit in mind at some point in all of the recent recapitalizations in the space of all been north of twenty times ebid. It's a very nice return for your financial sponsor is there. He thinks about the industry. I should say because of all that. It's it's highly competitive when you're going to talk to veterinarian about buying their clinic a lot of your competitors also talking to that same clinic ultimate we can still buy the clinics in a lot lower multiple than we hope to exit at but as highly competitive so in make sure your you know issued to close a lot lower than you in line because of the competition on. It definitely seems like it's got the fundamentals being highly fragmented market good margins. Yeah i think the healthcare nature of the private pay mentioned is also really good elements ultimately another challenge. Just there's a short debate in areas up there. You're veterinarians our revenue producers. You're always trying to recruit or reading is huge debt consolidators organization your investment strategy. Is she talks about it. We were one of the first joint venture consolidators in the space a lot of the competition. Our space is buying hundred percent of the clinics. The former owner. Dennis becomes an employee practicing medicine. Instead of our under in the space we wanted to differentiate ourselves in arquette when we entered. We do the j. d. mato or buying obviously a minimum of fifty one percent so we have a controlling interest of what we did. Was we allow our our nurse to retain roll over equity in their own clinic. instead of a taco model. You know some of our editors would give equity in the in the parent company whereas our partners retain equity in their own clinic. It aligns our goal was that they're really focused on driving their own clinics performance. Because that's what's going to benefit them at the end when we exit and we also are going to give them the same old support that we get an extra. That's have a big ditch of our strategy as we're going to pay you acts up front but retain thirty percent when we get scale and bring a lot of operational efficiency and help you grow your clinic when we sell this large group of clinics down the road for a much higher multiple. You'll get that same high multiple on your rollover equity. Why take this approach over a traditional bio he was really due to the competition. Stay she kind of had to find a way to differentiate yourself when there's twenty other players doing the same thing. Summer better capitalized than others. Which is obviously important thing you know if somebody is getting better leverage in their credit agreements or debt package. They can obviously afford to pay. are multiple. So you just have to find a way to differentiate yourselves but then also show good value prop to that veterinarian of hey you know in addition paying you this competitive multiple upfront. You can make a lot more under our model. They get profit distributions as well because they're retaining interest in their clinic but it is really just a a lines so we're all working towards the same goal is interesting. So you've really differentiated your best model by creating this incentive with the arguments that they now become part of your raider model where you're trying to achieve with a larger potential exit down the road we're alliance to they obviously help refer deals to us. 'cause the more clinics weakened by in the more ebay dow can acquire. Obviously that's going to help us sell at a premium multiple down the road in. We're basically a service organization. We have a big acquisition t which is our or business or also trying to help drive same store. Sales introduced operational efficiencies take advantage of our procurement synergies. And things like that so it's really about marching towards the same goal. Allow the veterinarians to do what they do. Best and that's practice medicine. It will help them take care of the back office stuff economies of scale at its finest. Yeah so let's break this down. How does the team created. Jv model that works on scale. Brian it's really uniformity. When you're doing this mini deals in time whether it's with our legal agreements deal structures. We want things to be as similar as possible today. We've got eighty five clinics in the legal agreements all in the operating agreement so very similar on those. I don't wanna have a nightmare. I go off and have eighty five different structures. That's also gonna make us less attractive to the next sponsor that comes in when our private equity firm does choose to exit at some point in the future. That's key to keep track of everything. Uniformity a lot of it though with wanting to do you know forty plus acquisitions a year. Communication is key to we have to have a lot of cadence whether it's between law firms were working with our accounting firms with the quality of earnings are different internal teams. The integration teams. The ops team that's having a regular cadence because there's a lot of activity going on. I have over twenty deals under ally right. Now they're all be closing over the next couple of months so there's not much time to pause and take a breath you really have to kinda keep everything on track everything marching forward and try to keep things as simple as possible. Obviously every deal negotiated we have a structure that is slightly tweaked over time. But we try to stay true to that as much as we can. It seems like there's a lot of components that are similar to other roll ups in this industry or other industries. You're running through a typical process. You're doing a searcher having similar conversations. You're going to get the nilolai. run your diligence. The two parts i wanted to get into one is water. The distinct differentiator when you're creating this structure because you mentioned creating uniformity in terms of how you lay this how i'd love to even hear of that conversation that you have with that company in terms of. Let me explain the difference. I.

Brian Dennis canada Stanley Jv thirty percent Eighty percent Dan hundred percent today two parts san antonio texas maryland one august of nineteen one reason fifty one percent end of this year clayton ebay
EVO Acquired by Sony and RTS, Announces Online Event in August

Esports Minute

01:47 min | 1 year ago

EVO Acquired by Sony and RTS, Announces Online Event in August

"Moving to Las Vegas last year evil was the event. I was the most excited for as the premier fighting game tournament evil holds a special place in the hearts of the f g c and e Sports at large depending they push last year's eve. Oh unlocked at least that was supposed to be the plan until Evoque co-founder. Joey cooler was accused of sexual misconduct wage to the cancellation of the event since then the future of the tournament has been in doubt Today evil acknowledge the accusations toward Clark as they announced a new strategic partner in Sony the exact details bit murky, but basically Sony and RTS a new venture out of Endeavors e Sports business have acquired the tournament through a joint venture partnership the terms of the deal were not disclosed their first announced wage. New partners was that evil online will be held this coming August from the 6th to the 8th, and then from the 13th to the 15th the tournaments that have been announced so far include Tekken Mortal Kombat Guilty Gear and Street Fighter off in the past. There have been quite a few more titles. Well big events a TiVo, but with the move to online some of the games don't quite have the netcode up to par to host Malik competition. Yeah. We're looking at U Nintendo last year. That was the reason Smash Bros was dropped from the lineup. It remains to be seen if it will make a return this year. Although it doesn't look like it's going to come out even when competitions can happen in person. So any involvement may push the tournament to focus on different titles not the one from Nintendo Evo is still open to all platforms. According to Mark Julio on Twitter who does Biz Dev for Evo Nintendo put out a statement basically saying, hey, we're still open to Evo for this year. The netcode will prevent smash from being played, but after a two-year Hiatus and was Sony and control it may never come back to the Evo stage personally. That makes me happy. He said but it's not exactly Sony or Evo's fault. I'm going to blame Nintendo in this one.

Evoque Co Joey Cooler Sony Smash Bros Las Vegas Nintendo Clark Malik Mark Julio Twitter EVO
What Will Amazon Do Next in 2021?

The Small Business Radio Show

05:29 min | 1 year ago

What Will Amazon Do Next in 2021?

"The other day announced a new ceo. And so we're is amazon. Going in two thousand twenty one and how can small business owners actually participate hit. Help is jason boys. A season entrepreneur and nationally rise x. nationally recognized expert on amazon. He's considered the world's leading expert in dot com third party sellers. He's the founder and ceo of avenue seven media llc a seller group that harnesses the power of amazon for direct to consumer product brands. He's also the co author of the amazon jungle. The truth about amazon and the sellers guide to thriving on the world's most perilous e commerce marketplace jason. Welcome to the show. Thank you bury. Congratulations to you. Six hundred and twenty six show twelve years you know. He started with just one person. So tell me how you've been doing during this pandemic. Our business has been booming Amazon scott galloway came out and wrote a book about The pandemic amazon a company that was built for something like a worldwide pandemic and they've benefited greatly and frankly so's my business. Because so many small businesses that had regional brick and mortar retail store outlets that. Just shut down on him and folks were were kind of on the fence prior to the pandemic called and said jason get amazon tomorrow. Can you help me so our business has been. I mean we keep up very hits been it's been You know a bittersweet story. It's good news that our businesses doing great as results pandemic. But it's been a really difficult time for everyone. Any recession is always winners. And there's losers. But i tell you one thing jason happen. This year that i never thought could happen in relation to amazon. I couldn't believe they couldn't deliver in two days. Came buried i. I made some predictions in early october. That fda and amazon delivery network was going to break. It ended up not breaking but they broke the post office. They bury them with so met much volume that they literally couldn't couldn't handle it and you're absolutely right. There were very few packages that were delivered to people's doors within two day window within that one day window even still though what they did. This holiday in terms of ramping up delivery final mile warehousing added fifty percent of square footage and like four months. I mean it's historic area. It's pretty incredible what they did so just recently announced. Jeff bezos is going to step down. Ceo and there was a joke on facebook. That says well i guess he's fully invested 401k. Now that's why he's stepping down. But one predictions you have for twenty twenty one with amazon given a new ceo and the hopefully the winding down of the pandemic. Yeah well you know. I hope jeff vases is going to be okay with the pay reduction. Moving from fulltime. Ceo to just executive chairman. You think you'll be okay hope but yeah you look i. I don't think that amazon is going to miss a beat. You know the minute. The announcement came out which by the way was interesting enough announced around the same time as their blow out. Q four earnings call Historic in its own right Potentially to deflect which amazon's pr department is really good at About how great they have benefited in his really tough time for our country But look amazon's not going to miss a beat andy jazzy. Jeff clone bleeds amazon. Blew has been basically attached to jeff bezos hip for more than twenty years. He's an incredibly talented competency. Oh who took. Aws from zero to fifty percent market share in the cloud. Space according to gartner so He's incredibly talented. He will help Execute on jeff bezos division. Basil's we'll take a back seat behind. The curtain is gonna shove jesse in front of congress and answer. All those difficult antitrust questions and basis is going to work on what he loves doing which is invention and future technology. Whatever amazon looks like five ten years from now will have been developed from. Basil's mind so he's not going anywhere. He's just removing himself from some of the shall we say more uncomfortable task. It's going to land on jesse's lap in the next You know one to ten years. As i trust drums or are beating louder and louder. So let's talk about some of the trends that you've been discussing Tell us about how you think. Amazon is getting into healthcare. They are already in healthcare. I mean they're providing primary care for you know scores of their own employees tens of thousands of their employees they They famously removed themselves from joint venture with jamie diamond and berkshire hathaway recently In the rumors from within inside amazon at the reason they did that is because they were holding back and the amazon pharmacy group which spun up recently. we're saying we can't move fast you know. We can't move fast because we're being held up by chasing in berkshire hathaway. So i saw that. A lot of a lot of people in the press came out berry and said oh. This means amazon can't figure out healthcare. It's too difficult. It's too challenging. I didn't see that at all. I just saw that you know amazon. Saw this as cutting weight so that they can really focus on what they do. And that's innovate

Amazon Jason Boys Avenue Seven Media Llc Jason Scott Galloway Jeff Bezos Jeff Vases Andy Jazzy Jeff Clone FDA Basil Jesse Facebook Gartner Jamie Diamond Berkshire Hathaway Congress Amazon Pharmacy Group Berry
The story of Australia and the internet

This Week In Google

02:23 min | 1 year ago

The story of Australia and the internet

"So just to recap long tawdry story of australia and the internet so rupert murdoch who is of course australian and i you know kind of coincidentally also six hundred. He is the Well he's pretty is pretty burs very close very close. Who's love journalism refusal. He started it was his first newspaper. Australian i know he is yes yes he inherited from his father. Oh okay from kevin murdoch. And then he bought sun in brittany brought. Some venture eventually ended up in a battle with with robert maxwell and one that the sun but he built his empire first austrailia and of course now the wall street journal fox He is your post. The times of london does on a media. Baron and apparently has quite a bit of clinton loss in australia. Because he yeah. He convinced the australian parliament to consider a bill which was likely by the way to be Voted on this week and pass that would essentially Establish a link tax to companies like google and facebook co published news snippets. They would not the the value. The sent to newspapers and magazines would not be a compensated. Any way it merely the fact that they're using the content some small amount of that content in their search results or in their links That the parliament said well. We're going to say you got pay for that. Google is the first to capitulate first threatening. We're gonna we're gonna retract search. We're gonna if this passes. We're going to leave australia. Apparently they didn't either didn't work or they didn't. They lost their nerve. Because shortly thereafter they made a deal for paying some unnamed some to murdoch and other publishers thought to be fairly hefty amount of money tens of millions of dollars to the benjamins tens not hundreds tents. All right well but a two platforms times ten times five years or something. It adds up. Buddy was one of those deals where there's a face-saving going on as well because oh we're going to work together we're gonna create stuff. It's going to be a joint venture that kind of thing that i've just here go away. Take some money which is what it really probably is

Kevin Murdoch Australia Rupert Murdoch Robert Maxwell Australian Parliament Brittany The Wall Street Journal Baron The Times Google Clinton SUN London Facebook Parliament Murdoch Buddy
Beyond Meat shares soar nearly 30% on Pepsi snack pact

John Williams

00:17 sec | 1 year ago

Beyond Meat shares soar nearly 30% on Pepsi snack pact

"Is getting into the plant based food and beverage business. It announced a joint venture with beyond meat to make and market snacks and drinks with plant based substitutes. Pepsi shares are flat after that news up about a half percent, but Beyond meat is up over 20% on that news,

Pepsi
"joint ventures" Discussed on The Bacon Podcast | Brian Basilico - Marketing Strategy Expert Interviews to CURE Your Marketing

The Bacon Podcast | Brian Basilico - Marketing Strategy Expert Interviews to CURE Your Marketing

05:41 min | 1 year ago

"joint ventures" Discussed on The Bacon Podcast | Brian Basilico - Marketing Strategy Expert Interviews to CURE Your Marketing

"That's what I do today. God. Wow, that's a heck of story that's amazing genius. So can you explain to my audience? What is a joint venture? I mean, what's the basics behind that the really great question off? The actual definition of a joint venture is pretty simple. It's the coming together of term or businesses or people to achieve a mutual goal or birth. Outcome. So if we look at a non business situation, we've got two months there next door neighbors. They both have kids. They go to the same school the two moms decides they want to carpool so that they both don't have to drive 5 days a week two different directions. So they come together. They decide who's going to cover going to school who's going to cover coming home from school in each one now has half the work to do to get their kids to school everyday at its most basic form. That is a joint venture. In business, it works exactly the same way as it does with those two moms the coming together of two or more businesses or business owners to achieve like a mutual goal or objective. So often especially in the internet marketing world people do joint ventures in a way that to me is very flat very one-dimensional off from the business standpoint. It works exactly the same way as it does with those two models. It's bringing two businesses together to accomplish a mutual goal or objective off the internet marketing World business owners tend to do joint ventures in a very one-dimensional flat way. Usually it has to do with launching products or promoting products suck come in and promote for you you come in and promote for me. Well, they call it a joint venture. It's not truly meeting the definition of a joint venture if I'm in it because I want to make money as an affiliate and wage you want to make money and do something else. It's not the same objective. And if it's I want you to mail my products you want me to mail your products not the same objective joint officers are so much bigger than that joint ventures can really be used to get any asset of business needs doesn't matter what it is most commonly in the off-line world. They're used to create new customers, but you can use joint ventures to create new products. For example, let's say someone has written a book. Somebody else has the ability to turn that book into a video or an audio book a joint venture could be created to create a whole new product out of that book. It's a very basic JV but it works very well. There are so many different types of assets that businesses can use jv's to create whether that's products to create money. Any asset of business needs can be.

jv
"joint ventures" Discussed on M&A Science

M&A Science

07:58 min | 2 years ago

"joint ventures" Discussed on M&A Science

"Vega thinks a maybe we can just kick off with a brief description of your role, your previous role a good year. Yes. Sure. Good. Your week we came to or came into. You're at a very interesting time that was three major phases that your went through that decade I was initially. The divestitures Stanley went into into the restructurings around minority shareholder joint venture that we have in the last two years than we really focus on on the acquisitions. So my my job was really a towards the end is understanding. How do we transition from accompanied data was investiture oriented? In the NFL restructuring into a company process, it are serving their relations in growth through acquisitions. Dallas. That was really my objective. Overall last two years. That's a pretty big redirection from a a self-focused of I focus. Then definitely, an Indie, the interesting bodies in order to change culture, we really need to focus a changing the processes themselves on. So we started really focused on. Approves of what stage, what the stages in gates putting a lot more structure into invest. That was kind of the driving force getting the buy in ability to move, and we kind of almost triple our our rate of execution from two years ago until nineteen when where we close at eight feels and he was really that that processed nice by depict the topic of structure for scale when these days. Let's talk about some of the reasons why joint ventures fail Many reasons why joined danger fail? You know there's the statistics as most join mentioning sixty or seventy percent fail within the first five years and there's a little bit dynamics of why. But a lot of them do really struggle with jobs and I. my experience have been what I've studied or when I've done research on. Not Necessarily Gulch challenges from A. Nationality Perspective or revolt protected in more of a corporate culture. What it is in hot holly holiday relates to other companies in other on the partners refinery examples them at his damage Chrysler. It was a good idea. Frawley strategy rounded ultimately naked. Make it work the second bottle bodies strategic fit? instituted shift initially when the joint venture is contemplated. There could be one strategy once it's implemented strateg-. Change. One example is back into cousins seven when tiffany's forwarded joint venture for one hundred, eight watches in those two, thousand seven although what happened to dozen aid or? Luxury Watch. Market. Hit a little bit of a wall that. Had resolved. It went to board and all that stuff. So those are some of examples of how shifting strategy it really backed up. Venture. Funded idol low duties is a priority. Issues is are the barons putting their own priorities ahead of the judge? In, those days when you don't have a clearly defined objectives actor know each Farren will prioritize say no I want to do this that and then ruling price difficulties into brain adventure in a successful. Okay. So we talked about some of the cultural challenges coming more from corporate culture and then strategies that gets shifted, which was a good example of the economic crisis that could definitely throw things off, and then as well as priorities can also be an issue in getting lion air. What are some of the steps you think that you can take to make joint ventures more successful? Is Number of steps that go into making enjoy mention that of course, but really have to focus on defining what success for the joint venture looks like. It's really kind of the first thing that I would do and focus on. Okay. We're forming Javy how how would we did find? Success in. Very, objective KPI is it in be measured on. A regular basis and reported on if you hit those KPI's allow the JV to operate without too much interference from from the Barents you know a joint venture or joint venture a number of years ago with a very very. Easy, API's around it. One of the Jamie to be cash positive wanted to be to profit within. Landon, industry, and we WANNA increase the. For for each of the Barrett those were our guiding principles that we had in the. Structured ed in angry reporting, as well as as a know parent involvement was circle around in long as the JV will fell into the parameters we assumed or we approach the success that falls by strict governance processes against steady enough on joint ventures, you need to understand know who's supposed to communicate with hotter. You resolve conflicts and what what is the process of addressing some of the operational items definitely would would suggest who hire a or to sign a key jv manager or director actually has to be free bunch of. More senior individual in the organization who can influence bearing. Who is in charge of managing that relationship into governance? Of jv Emigrant Exit Strategy. What if it doesn't work talk about things that are uncomfortable about while you're. So France, not only after you get in a fight or argument without aside. An have an exit strategy of he doesn't work is we're GONNA resolve in women being framed afterwards because most German interest dive experienced even after the dissolution, you're still have supply agreements. You still have very strong relationships just because something's shifted doesn't mean it was a bad idea just means that you need to adjust to you may be. Different. Way. I'm personally fable higher third party consultants to setup and provide governance structure is because they can get things objectively in they can scout like your own. Consular is like it can be objective in things that you don't want to talk about as the same way that their body consultants in in in this case around the governance warn okay look at situation look at what was going on kind of give you an idea of you gotta be careful about this garden. This was the government's away in not not be afraid of of causing some harm. In the relationship? Paris. Point. So really defining what success looks like. Putting the governance in place, and then also an exit strategy as well, which essentially could be like a form of a pre-nup in a way because it just didn't work out and you're just building exit. I do you make sure both sides strategies are aligned before entering into a formal joint venture? I think they bart is understanding why each side is getting into The JV from my experience strategies somethings are different for each parent. In? I'm actually presently finally I think they're actually serves better because they're not beating against each other one of the JV's I worked on one side was very interested in -nology or know how another side was burying interested in access to the production. Facilities you know we worked together in it well, because we were, we were going off.

Emigrant Exit Strategy Vega Stanley Paris Chrysler NFL France Farren Dallas tiffany Javy Barents Landon director Jamie
"joint ventures" Discussed on M&A Science

M&A Science

04:41 min | 2 years ago

"joint ventures" Discussed on M&A Science

"Administration <Speech_Telephony_Male> to tell us <Speech_Telephony_Male> what the rules are <Speech_Telephony_Male> the paperwork we need <Speech_Telephony_Male> to fill out and <Speech_Telephony_Male> the deadlines and things <Speech_Telephony_Male> like that <Speech_Telephony_Male> then trying to do that <Speech_Telephony_Male> on our own, it would <Speech_Telephony_Male> take much longer <Speech_Telephony_Male> and we. <Speech_Telephony_Male> Waste a lot of money <Speech_Telephony_Male> to do that so when you <Speech_Telephony_Male> have the local <Speech_Telephony_Male> <hes> experts <Speech_Telephony_Male> that <Speech_Telephony_Male> know how to do that type <Speech_Telephony_Male> of stuff. That's the right <Speech_Telephony_Male> time to <Speech_Telephony_Male> do that, so <Speech_Telephony_Male> we have a mix <Speech_Telephony_Male> of <Speech_Telephony_Male> using outside <Speech_Telephony_Male> services or not <Speech_Telephony_Male> depending on the transaction, <Speech_Telephony_Male> but we definitely <Speech_Telephony_Male> do <Speech_Telephony_Male> use <SpeakerChange> it in the right <Silence> scenario. <Speech_Male> How do you go about <Speech_Male> finding somebody <Speech_Male> if you did want <Speech_Male> to use an <SpeakerChange> outside adviser? <Speech_Male> <Speech_Telephony_Male> <Speech_Telephony_Male> So! 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We'll <Speech_Telephony_Male> work with them. <Speech_Telephony_Male> But sometimes <Speech_Telephony_Male> it's really just you <Speech_Telephony_Male> know using context <Speech_Telephony_Male> to find out. <Speech_Telephony_Male> A company <Speech_Telephony_Male> that could be just <Speech_Telephony_Male> a very local company, <Speech_Telephony_Male> but it's really <Speech_Telephony_Male> understands things <Speech_Telephony_Male> and a lot of experience <Speech_Telephony_Male> doing deals, <Speech_Telephony_Male> so you <Speech_Telephony_Male> know you wanna find those, <Speech_Telephony_Male> whereas it's generally <Speech_Telephony_Male> either. It's <Speech_Telephony_Male> through context that <Speech_Telephony_Male> we already have <Speech_Telephony_Male> that. We <Speech_Telephony_Male> locate some of <Speech_Telephony_Male> the. <SpeakerChange> <Silence> Firms utilize. <Speech_Male> <Silence> Make Sense. <Silence> So <Speech_Male> hypothetical <Speech_Male> semi <Speech_Male> hypothetical <Speech_Male> I have technology <Speech_Male> and <Speech_Male> I'm talking to <Speech_Male> a company <Speech_Male> based out of Europe <Speech_Male> that has <Speech_Male> an adjacent technology, <Silence> <Silence> but <Speech_Male> Maybe it doesn't <Speech_Male> make sense to license the <Speech_Male> technology for them. <Speech_Male> It seems like if <Speech_Male> we put the technologies <Speech_Male> together <Speech_Male> under a new <Speech_Male> product new brand <Speech_Male> that would be ideal, <Speech_Male> so <Speech_Male> our conversations <Speech_Male> going towards a <Silence> joint venture. <Speech_Male> What would be your <Speech_Male> top <Speech_Male> points a consideration <Speech_Male> when approaching <Speech_Male> that conversation <Speech_Male> with this <hes> <Speech_Male> company <Speech_Male> that we're <SpeakerChange> looking to do <Speech_Male> joint venture with? Yes, <Speech_Telephony_Male> so I mean <Speech_Telephony_Male> I would really <Speech_Telephony_Male> want to understand the context <Speech_Telephony_Male> <hes> <Speech_Telephony_Male> of <Speech_Music_Male> what business <Speech_Telephony_Male> <Speech_Telephony_Male> objectives. <Speech_Telephony_Male> That are trying <Speech_Telephony_Male> to be achieved, so <Speech_Telephony_Male> you know once the <Speech_Telephony_Male> time length we're talking <Speech_Telephony_Male> about. Is this <Speech_Telephony_Male> you know for the <Speech_Telephony_Male> foreseeable future <Speech_Telephony_Male> order to <Speech_Telephony_Male> be working together <Speech_Telephony_Male> and both contributing <Speech_Telephony_Male> you know something <Speech_Telephony_Male> to the joint venture <Speech_Telephony_Male> is A. <Speech_Telephony_Male> Scenario, then <Speech_Telephony_Male> ten years. <Speech_Telephony_Male> Unlikely <Speech_Telephony_Male> that you'll want it <Speech_Telephony_Male> that long, and <Speech_Telephony_Male> you shouldn't use joint <Speech_Telephony_Male> venture. You should probably <Speech_Telephony_Male> use another <Speech_Telephony_Male> a licensing arrangement. <Speech_Telephony_Male> <Speech_Telephony_Male> In the joint venture <Speech_Telephony_Male> to maximize the <Speech_Telephony_Male> value, can <Speech_Telephony_Male> you know will there be <Speech_Telephony_Male> enough decision making <Speech_Telephony_Male> power within? <Speech_Telephony_Male> Joint <Speech_Telephony_Male> Venture itself that <Speech_Telephony_Male> it can conduct business <Speech_Telephony_Male> and <Speech_Telephony_Male> really competed <Speech_Telephony_Male> independent company. <Speech_Telephony_Male> <Speech_Telephony_Male> Because we're league. <Speech_Telephony_Male> That's one of <Speech_Telephony_Male> the biggest concerns <Speech_Telephony_Male> when <Speech_Telephony_Male> you own. A joint <Speech_Telephony_Male> venture is how much <Speech_Telephony_Male> oversight you have. <Speech_Telephony_Male>

"joint ventures" Discussed on M&A Science

M&A Science

05:32 min | 2 years ago

"joint ventures" Discussed on M&A Science

"The problems collectively, but occasionally we still have to go back and say what was in the contract, and what was the obligation of each party in, are we? Honoring the language there, so he really can can vary the type of issues that we have do with. Gotcha so usually it's around some some contractual terms and interpretation of them around that, or maybe you know commercial terms about whether one party is paying too much or too little. I mean those inevitably come up as well and so we you know, try and collectively resolve multiple issues, but in partnership manner rather than relying on contracts. Can you walk me through setting up governance for a joint venture? Sure so I I would say there's no. There's two big elements to it one is how do you set up your organization itself then who decision making responsibility within the joint venture, so that's kind of the structural piece of it when you're building the organization, you identified the He. Is, the weather should be used using one of our employees were in a joint venture or the partners, or you might have oversight positions where we each have a representative there, but how you structure that organization itself really dictates how it's GonNa run on a day-to-day basis, and then layering over top of that you, you put in the board of directors that. Have oversight of the larger decisions, and then it's basically they meet a couple of times a year, and only deal with the more expensive and go she that are underway or projects that are underway and resolving some of the bigger issues that we haven't been able to resolve, so that's kind of from an organizational perspective how you set up the governance and the other big pieces how you ride it into the contracts. Contracts, so you really WanNa establish what the rights are. Make sure those are documented in both parties. You know how the voting is conducted. What decision making ability is the employees in the joint venture and how much you know how much value they can make a decision for versus were asked to go to the board, so those contractual piece in the organization structure itself, and both those need to be strong to. Ensure the success of the B. That makes a lot of sense so really like starting a company in general you WanNa make sure you have a balanced mansion management team, but in regards to joint venture. You have different parties involved in making sure that the balances there in terms of how they're involved with governance. Right. Depending on what the business that joint venture going to be. You know for us in the instance that it's going to. engineer manufacturing sell cars..

representative engineer
"joint ventures" Discussed on M&A Science

M&A Science

04:54 min | 2 years ago

"joint ventures" Discussed on M&A Science

"Senior leadership team that we keep abreast that we get basically approval for the negotiating envelope early on the process, and then we keep them aware of the parts of the transaction as we go throughout and raise issues that we need help on, and but when you're studying these type of relationships, it goes to the very senior leaders of the company for approval. Grandma activity. Yay. In, so it's less frequent that we're actually setting up joint ventures more often that we're managing the business an existing joint ventures. All the deals that we go through commercially. Our delegation of authority basically applies their value to the deal. And if it goes over certain threshold than it needs to go to the most senior leaders of the company, so some of the deals we do armor multi billion dollar deals, obviously those those are going to see Oh, and then if they require significant investments from the company, then those go through the various senior leader so I spent a. A lot of time with the head of General Motors, China walk him through the different transactions and the race creed keep the senior leadership team updated on the progress of those transactions, and then when once they're in a completion phase will go through a final approval where all of the different functions get an opportunity to review the entire agreement before we actually signed so it's a pretty thorough process. where the executives biggest concerns. So I really WANNA. Get opportunities that we identified multiple risks and tried to mitigate all of those risks, and and you know that we really understand the nature of the deal, and and are cutting the best deal that we possibly can, so there's a lot of focus on what what are the financials around each deal you know what are the? Mitigated. If the deal goes wrong, you know. How are we able to separate from it? Can we mitigate things you know? Spending over all things go wrong. What are the parameters put in place to ensure the success of it? It's it's really a lot of strategic work and financial assessment and trying to ensure that we've anticipated all the risks. Got It so identify those risk and even think through how you may mitigate some of those risks as they come up and make sure you got good terms. Absolutely, I, mean I. I really try and push myself to identify the risks so that the questions don't come. Don't get race by someone else. But the leadership teams are are strong, so there tend to still find elements that haven't where the question hasn't been asked, but you really trying anticipate as many of those as you can really mitigate all the risk that might come.

General Motors China
"joint ventures" Discussed on M&A Science

M&A Science

05:29 min | 2 years ago

"joint ventures" Discussed on M&A Science

"You need to find a home for those assets, so there's been a number of best teachers, and we really try and find companies that are going to utilize those plants can find jobs for the individuals working there, or you know the best value overall to to everybody, so we do all kinds of different trained actions, but the bulk of my work in China. At least is dedicated to licensing deals licensing our technology to companies co-develop arrangements where we're both joint pain for the development up the coast. So, those are the the bulk of my deals in based in China, but I've done many types of transactions and in the past. Gotcha and then. To clarify difference between a partnership and joint venture. Joint Venture you're creating dedicated entity that you're both contributing to a which would run independently does. Yes, yeah, so so you're essentially creating a new company and the. Setup an ownership structure so depending on, and that can change based on who's bringing the relationship, but you know generally the starting point is a fifty fifty joint venture where each partner has equal say they generally divide up the organization that and determine. What decision making roles are going to be set up by which party and you, and then you, you need the agreements that basically dictate how the joint ventures going to operate set up a board of directors that has oversight with equal voting rights, generally, if it's a fifty fifty setup, and and you want to allocate decision making responsibility to the J. B. itself and a certain level above a certain level. You'll allocate that decision making to the board. Board of directors and you wanted to find dispute resolution prone in you know it's really critical how you set up that joint venture to make sure that it has the best chance of success, and so if you, if you don't have a structure in place that allows it to make decisions quickly and move well then the business is going to be healthy, so you know. A lot of thought goes into establishing ABC to ensure the best chance at success. What specifically drive the direction for joint venture over partnership..

Joint Venture China partner ABC
"joint ventures" Discussed on M&A Science

M&A Science

04:02 min | 2 years ago

"joint ventures" Discussed on M&A Science

"Determine what we think is is our best strategy, but you also have to understand what the strategy of other stakeholders is going to be so in certain instances we'll do. Will you lights? Game Theory. And, before workshop Rep with different functions, and and try and lay out the different scenarios. How might play out? Our competitors might react. Our partners might react so that's generally what we'll do with larger deal. So actually one of the reasons in in Detroit this week is to conduct one of those. Game Theory Workshops. Play out multiple scenarios. How then might play out in the state? Cooled or try and come up with the best strategy up front. That's pretty cool, so you're actually taking a game series game theory approach to be able to simulate how these deals would pan out. Yup exactly because. It really using the structure of one of these workshops it. Forces you to think about all of the stakeholders how they might react how they would be impacted. You know otherwise there could be a tendency just to say here's. Here's the objective. Let's go get the deal done, but then you find out later that it's not as effective because you didn't think how other parties were gonNA react so when we do this. We literally have to think about all of the stakeholders that are gonNA be impacted by the deal and what their objectives are, and how they might behave, and that really helps us to formulate our own strategy. Now, are you taking the same approach when you do joint ventures, so so we might. We might hold their being theory workshop. If we're considering setting up joint venture, just you know again to help us play out very scenarios, but we typically reserve joint ventures for very specific types of scenario, so for instance our business in China how DM sells cars is is structured through joint ventures, and that's that's because of the nature of the.

workshop Rep Detroit China DM
"joint ventures" Discussed on M&A Science

M&A Science

05:02 min | 2 years ago

"joint ventures" Discussed on M&A Science

"Executive with over fifteen years of experience, offering, execution, evaluation, strategy, and restructuring expertise for driving multi billion dollar growth transactions. Does he level executives and board of Directors of industry, leading manufacturers to meet their strategic objectives? Today we're GONNA talk about how to source create and manage international joint ventures I. Do they rich good? How are you? I'm doing great. Maybe we can just kick off if you wouldn't mind sharing just a little bit about your background. Sure so I'm international executive with General Motors, and I. Basically been overseas now. I for six years conducting business on behalf of General Motors. have been working in the space for ten years, so I was doing few years in north in America before I moved international operations by that Um, mostly a finance background I worked in various functions and purchasing manufacturing sales and marketing all in finance roles to kind of get an overall understanding of the business. And prior to working with General Motors have also have experience with. On a motive, one of the largest suppliers, and then also with Ford Motor Company of Canada, I'm actually Canadian and have always lived candidate. Prior to international experience just crossed. The border were in Detroit at General Motors headquarters I started there back two thousand and five. So, what do you do? A General Motors now now I'm the president of corporate development, global mergers and acquisitions for general, motors China and that's to relieve long-term, but what it really means is I. Manage all the deal activities specific for our GM China business, which is our second largest market globally and manage the relationships with the joint ventures that we have established in China and also look for any new type of collaborative opportunities with companies in or outside of the automotive space, really just looking either feel technology gaps that we have or look for new business opportunities for China business. Rich. Can you walk me through your personal transition going from a US worker to going overseas? Sure it is I mean it's a huge adjustment relief and it's it's really individual from from both of you know commercial and business perspective, but also from a family perspective is a whole, really Kennedy life, changing type moment racking two thousand fourteen, we were offered the opportunity to move to the GM international office, which was then based in Singapore for three years. Simon and there was a you know a lot of internal wrangling over whether this is the right thing to do as a family..

General Motors Executive China General Motors. GM China Ford Motor Company of Canada executive GM Detroit Singapore Simon Kennedy Um America US president corporate development
"joint ventures" Discussed on Marketing Above All

Marketing Above All

10:24 min | 2 years ago

"joint ventures" Discussed on Marketing Above All

"The cash from the chicken wing capital of the World Buffalo New York. You're listening to the marketing. Above all podcasts your source for all things well. Marketing and total world domination a nation. This is marketing above all. And this is your host Michael. Hey daryn welcome to episode one zero three. Today's topic is this strategic alliances collaborative marketing and joint ventures so in the digital marketing universe joint venture often has a pretty negative connotation and the reason for that is it typically has meant and someone promotes you you promote them and hope that it works out for the best so way back when let's call it ten years or so ago and even five years ago it would be okay. What's fine people that have emails. Let's promote their products. We we get to promote US and then we both make money now in theory that that's definitely great idea but what ended up happening was one of the partners. Wouldn't fully fulfill the obligation. The responses would be better with one of the partners versus the other and just kind of created a little a bit of a Icke type of environment with local businesses though strategic partnerships joint ventures and can of collaborative operative marketing can be a massively effective tactic that works for both sides. So let me give you a couple of examples in. You'll very quickly start. Our Ted realized I guess the power of this but also the vision of of what. I'm thinking for you to the most simple of examples as you walk into a business. Let's say it's a restaurant and then in the Waiting Area you'll see maybe whether it's a flyer liar couple of business cards promotion something for a business that is not a direct competitor of that restaurant. Maybe it's the laundry mat next ex- store. Maybe it's the movie theater. That's nearby so dinner and a movie. Show your restaurant receipt and get five dollars off your ticket or free popcorn or something like that. Those two businesses have made it a point to you leverage off their audiences. So let's say it's a restaurant and let's stick with the example of the movie theater while then at the movie theater as you're there then there's GonNa be some signs or business cards or flyers that say catch dinner before after the show at Xyz Z.. Restaurant Show your movie voucher and get twenty percents off your bill so the restaurant is driving business to the theater. The theaters driving business to the restaurant. And there's no hard cost to either business now if you think about. What's the downside to either of those businesses now my initial reaction Israeli. There's no downside. The only downside that I could see that if the food at the restaurant is in great and then people are like. Why are you sending us there or or the movie theater is grungy or something like that and then they're saying the same thing to the restaurant will we. Don't WanNa go to that theater. You WanNa make sure that. Both businesses have upstanding relationships in the community. But other than that. Then there's really no downside risk your both sending foot traffic to each of the respective businesses at absolutely no cost. That's a strategic partnership or a joint venture some other examples that you can start to do is partner with businesses that are similar to yours so you often hear this with car dealers if there's a couple of local Toyota dealers. Chances are semi high. That there's not just going to be an ad for one turn dealer right but rather an ad. That represents all different dealers in the area. If you're all selling somewhat of a similar product why not strategically partner in grow all the market share because the chances are high that if you're in a particular community ready you're going to draw from the people that are closer to your particular dealership so if you're doing a radio radio or a TV ad you can't just laser target one particular community in the geographic area. A lot of these radio stations. They reach forty fifty sixty miles so I would much rather go to the other Toyota dealers and say well. Let's actually join forces and let's let's invest some collective money and expand the share in general and in total that is a- an example of a strategic partnership now the piece was strategic partnerships and joint ventures and collaborative marketing. You WanNa make sure that they are equitable and fair relationships. Because that often is where things start to take a turn that isn't as productive. Where for one business business fields. They're getting the fair end of the stick. So if you were promoting a restaurant for example you're the movie theater and you've got big posters posters and signs and business cards and it's really apparent and then you walk into the restaurant and they have your tiny little sign in the corner that that's not necessarily surly affair relationship now where I'd love to see you take us to. The next level is to think about what else you can do you. What about that restaurant sending out an email blast and a couple of social media posts once a month for the restaurant. What about the restaurant doing the same thing for the movie theater. So you're not just having something in your location. But you're also oh strategically promoting you went to what values echina- bring world the values gonNA bring in reciprocity of the theater. Doing the same thing for you in a dozen cost you anything to do with it. Expands your customer base for essentially no marketing investment whatsoever ever. So what I'd like you to do is to make a list of some of the businesses that you could see yourself collaborating with and you gotta think outside the box here. I mean it doesn't have to be a business that's identical to yours by any means can be a business in the same area the same shopping shopping mall the same strip mall. It could be a business that you know both of your customers frequent for example bowl childcare centers and taekwondo for example. Or if you've got a childcare care center. What are the other places that they're going to be frequenting the pediatric doctor's Office for Example Playgrounds Fund Centers. So why not partner to help each other grow. You're not directly competing for those same customers but the key key again is to make sure that. There is a symbiotic relationship here because that again is when I've seen it take a negative spiral negative. Twist as where one business fields. They're doing a lot more and the thing you've got to keep in mind here is you've gotta maintain your expectations gotta maintain your expectations just because of businesses promoting you. It doesn't necessarily mean you're then going to get a flood of customers. You may help drive them. What customers and that very well may just mean that they're more interested in the other business unless it's distracting or taking away revenue from Your Business. There's really no harm in doing so. And if anything. That's going to continue to motivate the other business to one more when I've done strategic partnerships and things like that. I have been much more motivated when I start to see some success the times when I've been disengaged Canley is if the other business doing some promotion promotion and I hear crickets so that tells me they didn't do anything they didn't have a big audience or any kind of audience or just wasn't a fit but I will tell you that that's not GonNa get me to jump on a bed to make sure that I'm promoting other business but again if I agree to do it. I'm going to hold up my end of the bargain. So think about some businesses that you could do some strategic collaboration with that essentially cost both sides. Nothing and will continue to help grow both both businesses. Hope you've enjoyed today's episode on joint ventures and strategic partnerships. Get out there and take some action. Michael Tasers after starting off. Good morning good afternoon and good night. See you back here tomorrow by. Thank you for listening to this. Episode of marketing. Above all get out there make a change and take some action and hey don't forget to leave a five star review and tell all your friends. This is the greatest marketing podcast. Ever ever we look forward to seeing you here tomorrow..

partner Toyota Michael Tasers New York US Ted Playgrounds Fund Centers Canley