Wednesday, 14 March 2007

There is a bit of downtime at the moment. We are putting the finishing touches to the board paper seeking approval for the deal we are working on. I hear there will be at least four, possibly six, board members sitting to listen and approve/decline the deal. This is not good. Normally there is only two or three. More board members means more brains thinking of ways to trip you up. This current downtime has the eerie feel of the eye of a storm.

Downtime has benefits beyond thinking of the multitude of ways your carefully crafted deal might fall over. For instance, I've been able to read more news, such as this (click here). This is shameful. If I were the president, this would never happen on my watch.

UPDATE

Had some tech difficulties at work, so couldn't publish the above post. Anyway, since the above was written, we had held the board meeting to discuss the deal. Seven board members participated in person or by phone. After fielding the expected questions, and managing to satisfactorily answer a left-field question (how do you prepare for a question on legal risks that arose from the board member being privy to confidential information on a similar business he happened to be an adviser to?), we received approval for our deal. Now we just need the client to accept the terms, and we are good to go... very relieved to have this deal go through.

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