$40Million FART

Probably has nothing to do with my weight loss, but then again it probably does.  Either way, I just have to share the exciting news with the locker room. I secured a $40M commitment last week from a hedge fund manager in New York, to do an acquisition I have had my eye on for over two years. I have done several acquisitions in excess $400M, but always as part of someone else's company. This time it is all mine! It is also about 5 times larger that any deal I have ever done on my own before.......with my own money on the line..... as well as $40M of "other people's money". I'll let you all know in about a month if we are going to get it. I know there is at least one other viable buyer in the hunt. So, it is probably a 50/50. Either way, it should be a very interesting endeavor. JP

Way to go, JP!

Hope you get it!      

 

Dave

Thanks, Dave. Me, too. We're in the due diligence phase now. For the next 30 days we get to "dig through the toy box" and see what is really there. I like this part. JP

hey, go ahead and take credit from the weight loss! now i bet you have to work up a sweat just to sweat over this! did that make sense? i hope it goes through for you. sounds big time to me. of course now you know we'll all come to you for loans right? good job......Carbonblob

I love lending money! Only licensed in Texas and Florida, however. CA is off limits to me. Thanks. JP

Talk about irony! I just totaled up the $ I've spent on diet programs, diet aids, diet doctors, and clothes to "fit" a 150lb weight span and guess what? It's $40M, too! Seriously, you have right to be proud. Kudos. Doug

Money well spent! You laugh, but I actually have it all in an excel spreadsheet. (It's a disease. I can't help myself.) I have not added the last round of clothes I bought yet. But, Since November 2006, I am running at $163 / pound lost. Give or take a few cents. If I could lose about 7.5 tons, we could get that number down to 0! I wrestle with whether clothes should be considered part of the CapEx for the WLS budget or not. I would ask my accountant, but he would ask when was the last time I saw my psychiatrist. (Man, I need help.) Thanks. I am very excited about the opportunity. JP

Geeez, I can't imagine the stress involved in playing in that field. I mean... 40 mil. is a lot to my mind, as in the big boy's league. I wish you well JP, and hope the Big Man upstairs  makes the best decision to fulfill you needs, not your wishes. Good luck to you, Marcel

Thanks Marcel. Believe it or not, it really isn't that stressful. More exciting. Kind of like having a baby exciting. I use to climb communications towers back in my 20's, when I worked for MCI. I have climbed as high as an 800' tower. Well, I can tell you that after about 300', 800' doesn't feel any different. In fact, it is a little more comfortable because you really lose your sense of where the ground is. Having been involved in a $1.3Billion acquisition last year, I can tell you that money loses its sense of reference as well. Once you reach a certain "height", it just becomes numbers and math. It loses any sense of reality. It has to, or you would go nuts working a deal. The money part isn't the thrill for me anyway. It took me many years, but I finally realized a few years back that money has little value in life. I know that sounds crazy to most people, but I believe it to be true. Take care. JP

Congratulations JP!  I wish you all the luck and success.