A few weeks ago saw the publication of a highly critical book about McKinsey titled, When McKinsey Comes to Town: The Hidden Influence of the World’s Most Powerful Consulting Firm. Now Bloomberg has…
Last time we wrote about the importance of due diligence and how some Private Equity firms (with FTX) and banks (Chase with a student-oriented company, Frank) failed to protect themselves and…
This week and next we’ll focus on issues related to due diligence. As M&A activities are likely to increase in 2023, excellence in due diligence is critical for sellers but in particular for acquirers. Yet, there are at least…
The Titanium Economy, a book written by three current and former McKinsey consultants, focuses on describing existing and proposed activities that, to paraphrase the book’s subtitle, will allow industrial businesses to…
The regulatory approval was easier than anyone thought. After all, FTX and crypto savant Samuel Bankman-Fried could buy Farmington State Bank, a three-employee bank in Whitman County, Washington. Of course…
Daily media reports detail personnel cuts at previously high flying fintechs like Chime, Varo, Upstart, Stripe, Blend, and Brex, among others. Most notably, Twitter has announced cuts in the 50% range and Amazon is…
I’m not sure why I found this new book (by New York Times reporters Walt Bogadanich and Michael Forsythe) both depressing and not very surprising. Certainly, while the evidence of McKinsey’s wrongdoing is not…
Of course, the best approach to cost cutting is to minimize expenditures upfront, meaning don’t make excessive hires in the first place. There may still be one bank I know that follows that philosophy. Instead…
A few weeks ago, Rashida Tlaib, the progressive congressperson from Michigan, zoomed into a hearing in the hopes of grilling the CEOs of some of the major banks. She began by asking Jaime Dimon if his bank…
It’s important that bankers understand how a significant portion of the world views them. Bankers and other corporate types spend a lot of time meeting with each other in conferences that often affirm their own…