Profiting from a management buyout

Article Abstract:

Management buyouts can reduce shareholder servicing costs. Ownership by managers is another financial incentive. Managers will run companies more carefully if their ownership interests are at stake. Management buyouts also benefit the stockholders, who are paid an average 56 percent premium for their shares. A comparative study of 97 companies that have gone private and companies of similar asset size that remain publicly held shows that the ideal candidate for a management buyout is a company in which: the majority of the stock is held by the management; the company has a higher than industry average cash flow to net worth ratio; the shares are selling at a low price to earnings multiple; the assets of the company have depreciated in value on the books only; and the company has a stable dividend yield ratio.

Economic aspects, Management buyouts, Going private (Securities), Leveraged buyouts

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Oil!

Article Abstract:

Bids for offshore oil exploration licenses in the Falkland Islands will close on Jul 3, 1996, and it will be several years before wells are drilled to determine the size of any oil reserves. Seismic surveys will be needed to define the most promising areas for wildcat wells. If enough oil is found, it would require five to 10 years to begin production. The uncertainty of finding exploitable oil makes it difficult to forecast the economic effects of the exploration effort on the Falklands.

Petroleum industry, Discovery and exploration, Natural resources, Natural gas exploration, Falkland Islands, Oil and gas exploration, Petroleum exploration

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Stan Sklar: the dean of construction law

Article Abstract:

Bell, Boyd & Lloyd LLP partner Stanley P. Sklar, one of the top construction, real estate and evironmental lawyers in Illinois, is regared by fellow lawyers as the dean of construction law for his achievements in the field. His accomplishments in the area of construction law includes the ABA Forum on the Construction Industry Cornerstone Award, which he received in 2004.

Legal services, Executive changes & profiles, Public affairs, Other Justice, Public Order, and Safety Activities, Illinois, State Safety NEC, Evaluation, Officials and employees, Achievements and awards, Construction law, Law firms, Public opinion, Sklar, Stanley P., Bell, Boyd and Lloyd

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