Mind stetchers

MIND STRETCHES 3




1. Todo inversionista se concentra en tener dinero generando dinero. Los inversionistas van a tomar todo tipo de precauciones para eliminar o poner al mínimo el riego de su inversión. Por tal razón es bien importante a la hora de tomar la decisión en cuanto con quien se hacen los acuerdos. Esto no significa que el emprendedor no debe buscar inversionistas externo,pero si tiene que hacer una negociación tomando muy en cuenta su parte.







2. El término “deal structure” (VCexperts), es un acuerdo entre el inversionista y la empresa que define los derechos y obligaciones de las partes involucradas. El proceso por el cual se llega a la parte final y las condiciones de la inversión.

A continuación podrán ver un ejemplo claro de lo que es un“bad deal & good deal struture” (Vardi, Nathan, Forbes.com, 8/29/2011)

Can Ken Lewis' Good Deals Save BofA From His Bad Deals?
In June 2005, Kenneth Lewis, then chief executive of Bank of America, traveled to Beijing after deciding that the best way to take advantage of opportunities in China's banking sector was to purchase about 9% of China Construction Bank for nearly $3billion. Lewis signed a deal that included an option which he later exercised to buy more shares in CCB. "This investment is aimed at creating a long-term benefit by partnering with the best positioned bank in China, which is one of the fastest growing economies in the world," Lewis proclaimed.
Bank of America's decision on Monday to sell half its stake in China Construction Bank for an after-taxgain of some $3.3 billion will result in pretax proceeds of $8.3 billion or so, improving Bank of America's capital position under new banking regulations and potentially reducing investor concerns that the bank will need to raise more capital. It is also a reminder of the complicated legacy Lewis left behind at Bank of America after he resigned in 2009.
Lewis liked to buy things and made$120 billion worth of acquisitions, cobbling together assets that created the biggest bank in the nation. The deal that Lewis is most remembered for in Charlotte, however, is the one he announced in January 2008 that became one of the worst deals in banking history. Bank of America's $2.5 billion deal for Countrywide Financial, the poster-boy of reckless mortgage lending, has cost Bank of Americamany times more than the purchase price some $30 billion and counting in mortgage-related write-downs and legal settlements. "Obviously, there aren't many days when I get up and think positively about the Countrywide transaction in 2008," Brian Moynihan, Bank of America's CEO, recently said. But as today's CCB sale shows, Lewis' good deals have come in handy in dealing with the Countrywidedisaster. One big misconception is that Lewis' shotgun deal to purchase Merrill Lynch for $50 billion at the height of the 2008 financial crisis has contributed to Bank of America's woes. Early on the deal looked so bad that Lewis himself thought about calling the whole thing off. Some called it the deal from hell.


Recuperado de : http://vcexperts.com/encyclopedia/glossary/317

These days,however, Merrill Lynch has become a vital part of Bank of America. In fact, Moynihan has resisted calls to sell the unit to raise capital. Indeed, in its recent disastrous second-quarter earnings report, Bank of America reported an $8.8. billion loss while disclosing that its $3 billion settlement with Fannie Mae and Freddie Mac concerning bad loans might increase in cost. What would that earningsreport have looked like if Bank of America's Global Wealth and Investment Management division, which includes part of the Merrill Lynch assets Lewis acquired, had not contributed $1 billion of income in the first six months of 2011, up by 35%, on $9 billion of revenue?
"The irony at BofA is that Lewis was pilloried for having acquired Merrill Lynch, but Merrill Lynch has saved the...