Category: M&A

How Much of That Share Repurchase Authorization Will Be Executed?

How Much of That Share Repurchase Authorization Will Be Executed?

The WSJ reports that companies have announced $600 billion of share repurchase authorizations year-to-date. What percentage of that total authorization will be executed? The proof is in the pudding as they say and a share repurchase press release means zero until the company in question starts to execute on the authorization. Announcing share repurchase authorizations … Continue reading How Much of That Share Repurchase Authorization Will Be Executed?

Disney Should Acquire Warner Bros. Discovery

Disney Should Acquire Warner Bros. Discovery

Disney (DIS) needs additional hit content for its Disney+ streaming platform. The streaming game is a scale game. Production houses that own their own streaming platform (Netflix, Disney, Comcast, Warner Bros. Discovery), need to ensure they have sufficient "hit" content to drive profitable streaming operations. Ideally those content producers want to achieve streaming profitability primarily … Continue reading Disney Should Acquire Warner Bros. Discovery

Communicating with Investors: A CEO Handbook

Communicating with Investors: A CEO Handbook

Below is the high-level outline for our next book to be published as an Amazon Kindle book later this summer. The book will be focused on CEO communications with public company investors. I. Define Your Company What We Do & How We Do It How We Create Customer Value How We Create A Sustainable Competitive … Continue reading Communicating with Investors: A CEO Handbook

How Much Resolve Does Jay Powell Have?

How Much Resolve Does Jay Powell Have?

A Fed pivot to lower rates would end the banking crisis and likely reignite inflation. What will Fed Chair Jay Powell do? The shorts are correct. You shouldn't believe Jamie Dimon and Jay Powell. Jamie lied earlier this week when he talked about "this part of the banking crisis is over." No, as we said … Continue reading How Much Resolve Does Jay Powell Have?

Microsoft: Too Big To Be Accountable?

Microsoft: Too Big To Be Accountable?

It feels as though Microsoft (MSFT) and perhaps the largest Tech companies are too big to be held accountable. While I much prefer MSFT CEO Satya Nadella to former CEO Steve Ballmer, nowhere on MSFT's recent EPS call was there a single question about organic revenue growth. Acquisitions likely accounted for at least one percentage … Continue reading Microsoft: Too Big To Be Accountable?

The U.K. Blocking MSFT’s Proposed Activision Deal

The U.K. Blocking MSFT’s Proposed Activision Deal

Whether it is the FTC or Britain's Competition and Markets Authority (CMA), I believe these Government agencies often block proposed mergers and acquisitions simply to justify their existence. They are government agencies after all and require taxpayer funds (or printed money) to survive. The CMA's MSFT decision adds zero value, will hinder innovation, and demonstrates … Continue reading The U.K. Blocking MSFT’s Proposed Activision Deal

The Full Promise of Large Language Models

The Full Promise of Large Language Models

The full promise of Large Language Models (LLMs) won't be delivered until LLMs are capable of understanding nuanced industry specific commercial data. Until such time, LLMs will be productivity enhancers (think Google Assistant), capable of automating routine tasks but incapable of operating complex processes. In order for the above to happen, LLMs will need to … Continue reading The Full Promise of Large Language Models

More Tightening & Pain To Come

More Tightening & Pain To Come

Thursday at 4:30pm ET we will get an updated view of the Fed's Balance Sheet after last week's record Treasury runoff ($49.7 billion). There is more tightening to come not only from the Fed (despite its bank bailout), but from commercial banks. As commercial banks tighten lending standards, they shrink the money supply. The bad … Continue reading More Tightening & Pain To Come