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Strange v50-v100 tell - unwillingness to engage on "business issues"
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Date: August 30th, 2018 7:40 AM Author: racy idea he suggested stage the better firms at the top of vault are staffed with smart enough guys with enough depth and breadth of experience that they know what the answer is going to be without tabling the issue for business people, so they tend to speak to these issues without completely bitching out. small and country firms are filled with bullish, inexperienced cowboys who don't know what they don't know and are used to making their living through sheer aggression. lawyers somewhere in the middle tend to merely be aware that they can fuck something up with ONE WRONG MOVE on these issues and are overly cautious about losing a big client of the firm based on a misstep. They don't have the experience to speak authoritatively on anything business related to they submissively urinate down their legs and roll over to expose their belly, shaming their ancestors and children at once, while confidently announcing the identification of a business issue. |
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Date: August 30th, 2018 7:42 AM Author: disrespectful 180 set Anyone using the phrase "speak to these issues" should be beaten severely. No offense. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713894) |
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Date: August 30th, 2018 7:43 AM Author: Puce Soggy Dysfunction what's the delta? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713897) |
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Date: August 30th, 2018 7:45 AM Author: racy idea he suggested stage probably not even a top tier awful turn of phrase in the OP (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713903) |
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Date: August 30th, 2018 8:37 AM Author: disrespectful 180 set Point stands. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714027) |
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Date: August 30th, 2018 1:18 PM Author: lemon boistinker (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715735) |
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Date: August 31st, 2018 12:31 AM Author: peach theater stage azn TEX HALLSTEAD *sound of revolver firing twice* ESQWIIIRE to colt tp when colt tp ask about the price of oil well drill bits or whatever:
“Hey hey hey now mu-cha-cho. It’s like my great grandpa always saieed, a horny toad catches flies in the bush. And boy, that’s what I reckon I’ll do here. Catch flies” |
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Date: August 31st, 2018 12:32 AM Author: carnelian aggressive senate (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36719801) |
Date: August 30th, 2018 7:41 AM Author: Puce Soggy Dysfunction do you want to see a picture of my erect cock? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713891) |
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Date: August 30th, 2018 7:44 AM Author: racy idea he suggested stage no (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713900) |
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Date: August 30th, 2018 11:00 AM Author: Puce Soggy Dysfunction why (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714742) |
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Date: August 30th, 2018 7:45 AM Author: bonkers hospital Thank god every day I’m at a prestigious V5 (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713904) |
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Date: August 30th, 2018 7:47 AM Author: racy idea he suggested stage MFE straight up HOLDING COURT on market break-up fees (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713909) |
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Date: August 30th, 2018 7:51 AM Author: Magical light death wish hell Tl;dr: super study New York geeks and middling IQ alpha tall aggressive cowboys style on 90 percent of the legal profession (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713918) |
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Date: August 30th, 2018 7:54 AM Author: racy idea he suggested stage Unfortunately the attorneys making up the vaults 50-100 firms are not 90 percent of the legal profession but if they did we would A LOT more salacious layoff and bonus gossip with which to fill our mundane days!! (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713924) |
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Date: August 30th, 2018 7:53 AM Author: fiercely-loyal ladyboy *submissively urinates on OP* (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713923) |
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Date: August 30th, 2018 7:59 AM Author: onyx property friendly grandma yeah i love wasting time on the phone with some v50 shithead who is bitching about how off market some provision is only to have their client fold a few days later to get the deal done. great use of time. really alpha (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713933) |
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Date: August 30th, 2018 8:18 AM Author: Exhilarant Organic Girlfriend (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713991) |
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Date: August 30th, 2018 8:19 AM Author: Exhilarant Organic Girlfriend Kuh-ching (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713995) |
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Date: August 30th, 2018 8:00 AM Author: Yapping Love Of Her Life Heaven 'good news--apple agreed to the merger'
'wtf i just asked you to review an 8-k' |
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Date: August 30th, 2018 8:05 AM Author: racy idea he suggested stage kirkland styles itself as an investment bank 90% of the time (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713952) |
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Date: August 30th, 2018 8:10 AM Author: Appetizing Milky Marketing Idea The charge like it too (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713969) |
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Date: August 30th, 2018 9:56 AM Author: Orange arrogant temple private investor (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714352) |
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Date: August 30th, 2018 8:10 AM Author: Yapping Love Of Her Life Heaven Kirkland SHATTERS (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713970) |
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Date: August 31st, 2018 12:32 AM Author: wine really tough guy reading party Too soon man (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36719802) |
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Date: August 30th, 2018 9:25 AM Author: Amber coldplay fan (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714174) |
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Date: August 30th, 2018 12:52 PM Author: Titillating cruel-hearted dopamine (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715541) |
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Date: August 30th, 2018 8:12 AM Author: Appetizing Milky Marketing Idea How are you differentiating a "business issue" from everything else? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713973) |
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Date: August 30th, 2018 8:13 AM Author: Yapping Love Of Her Life Heaven (amlaw 250 tell) (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713976) |
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Date: August 30th, 2018 8:40 AM Author: Haunting location (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714031) |
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Date: August 30th, 2018 8:13 AM Author: bonkers hospital Not a lawyer? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713977) |
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Date: August 30th, 2018 8:26 AM Author: Appetizing Milky Marketing Idea I mean, would you call a deminimis threshold a business issue? Netting insurance proceeds from indemnity payments? What reps the general cap applies to? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714008) |
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Date: August 30th, 2018 8:36 AM Author: racy idea he suggested stage a lawyer should handle all of these without asking daddy for permission because they will know (1) whether the fucked up issue subject to de minimis threshold is likely to become material based on the return targets of the buyer, impact of the busted rep on returns and nature of the business and the target; (2) is not a business issue and (3) whether the fucked up issue subject to reps and cap is likely to become material based on the return targets of the buyer, impact of the busted rep on returns and nature of the business and the target (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714025) |
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Date: August 30th, 2018 9:09 AM Author: mustard sexy home 1) would be negotiated in term sheet, which the client reads. 2) no one disputes netting, unless talking about order of recovery for RW policy, which is more complex and would be in the term sheet. 3) would be in the term sheet. |
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Date: August 30th, 2018 9:13 AM Author: racy idea he suggested stage This shit is not always in term sheets and there are not always term sheets (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714129) |
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Date: August 30th, 2018 10:30 PM Author: marvelous scarlet casino I agree mostly not in the term sheet because not actually a business issue.
Although economic in nature, most of that shit is 90% exactly the same.
de minimis is like $5k-$15k but I'd def. bracket in the first draft for the client to confirm.
netting insurance proceeds--sure but no obligation to sue and net of cost of collection. If R&W policy then I think the R&W insurer is just subrogated and could seek collection--not actually sure how that is supposed to work since usually a separate provision on mitigation and the like. In a R&W Policy deal it's really not an issue.
fundamental reps are the true fundamentals plus no brokers and tax and maybe environmental and benefits. Assets in an APA. I'd try to get non-contravention and maybe related party transactions. Anything that's a known risk is probably an uncapped special indemnity that has been talked about as a diligence issue. |
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Date: August 31st, 2018 3:59 PM Author: mustard sexy home "If R&W policy then I think the R&W insurer is just subrogated and could seek collection" Lol xo2018, are you even a lawyer? |
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Date: August 30th, 2018 9:50 AM Author: lascivious codepig national (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714317) |
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Date: August 30th, 2018 8:14 AM Author: racy idea he suggested stage (scumbucket small claims attorney poasting from a strip mall office off a rural highway) (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36713983) |
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Date: August 30th, 2018 9:04 AM Author: Magical light death wish hell LJL at this obvious shitlaw tell (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714107) |
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Date: August 31st, 2018 4:01 PM Author: Appetizing Milky Marketing Idea I'm probably one of the only posters left with real elite biglaw experience. It's a meaningless term out of context. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36723247) |
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Date: August 30th, 2018 8:22 AM Author: Fighting cerebral jap chapel Lol 180. Clients move when you talk business issues. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714001) |
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Date: August 30th, 2018 8:43 AM Author: garnet theater cuckold Great thread (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714049) |
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Date: August 30th, 2018 8:44 AM Author: Nofapping dark public bath dragon Colt is such a white collar alpha (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714051) |
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Date: August 30th, 2018 8:50 AM Author: racy idea he suggested stage i am asian (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714070) |
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Date: August 30th, 2018 9:06 AM Author: Blue Theatre Bbw ljl (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714116) |
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Date: August 30th, 2018 10:50 AM Author: Sick massive whorehouse Say it ain’t so (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714690) |
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Date: August 30th, 2018 12:58 PM Author: Charismatic hissy fit (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715580) |
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Date: August 31st, 2018 9:20 AM Author: Magical light death wish hell (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36720751) |
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Date: August 30th, 2018 9:05 AM Author: Comical umber elastic band round eye Is OP the guy that thought that public company directors individually negotiated their pay packages, like free agents or something? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714114) |
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Date: August 30th, 2018 9:12 AM Author: racy idea he suggested stage For shit small companies adding their first independent director, like that thread was about, they do (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714127) |
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Date: August 30th, 2018 9:13 AM Author: Nofapping dark public bath dragon Colt is the guy that's attempts at poboy poasting resulted him getting blown out wide and deep. He subsequently made a return using obscene business jargon to justify his life decisions. I am a huge fan. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714132) |
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Date: August 30th, 2018 9:52 AM Author: lascivious codepig national Outside counsel are usually chill to negotiate against. As soon as they hit their quota for hours they can bill from a client, they wrap things up ASAP (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714327) |
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Date: August 30th, 2018 9:55 AM Author: splenetic nudist gas station antidepressant drug Are you serious? They're awful. They run up bills by being difficult on minor issues and often have no idea about context, background or often, the actual issues. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714339) |
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Date: August 30th, 2018 10:46 AM Author: racy idea he suggested stage (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714670) |
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Date: August 30th, 2018 11:11 AM Author: Doobsian violent electric furnace Stfu and pay my bill you dumb mid level drone (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714808) |
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Date: August 31st, 2018 11:23 AM Author: splenetic nudist gas station antidepressant drug Nope. But the party I'm negotiating with might hire you for this nonsense and pay your bill. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721491) |
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Date: August 30th, 2018 10:52 AM Author: Nofapping dark public bath dragon btw we tweaked the DSCR for you. Thank. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714706) |
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Date: August 30th, 2018 10:58 AM Author: Sick massive whorehouse Basically I don’t talk to the business people after we negotiate the term sheet unless I’m too busy and need to buy time by setting up a call with the client to go over issues (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714731) |
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Date: August 30th, 2018 10:59 AM Author: racy idea he suggested stage There are business people who will go to the MAT over choice of venue LOL (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714735) |
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Date: August 30th, 2018 12:51 PM Author: Sick massive whorehouse yeah, my clients are entrepreneur RE developers and operators worth lots of money. They have better things to do than worry about that type of stupid shit; they leave it to me. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715539) |
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Date: August 30th, 2018 1:07 PM Author: lascivious codepig national Credited venue is the one where the Firm has offices in (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715638) |
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Date: August 30th, 2018 11:04 AM Author: disgusting scourge upon the earth depressive Id say this is true for all >v5 (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36714771) |
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Date: August 30th, 2018 12:58 PM Author: judgmental salmon headpube stb gnashing teeth, crying, losing hoap (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36715574) |
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Date: August 30th, 2018 10:04 PM Author: exciting hunting ground Thinking about this is an insecurity tell. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36718933) |
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Date: August 30th, 2018 10:16 PM Author: Contagious pea-brained trust fund university I wonder if business classes would be a more useful elective in lolschool than some of the law classes. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36718984) |
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Date: August 30th, 2018 10:28 PM Author: Vivacious tanning salon Really does differ by firm. Willkie is infamous for this while Skadden isn't afraid to argue business points. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36719068) |
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Date: August 31st, 2018 12:17 AM Author: Slap-happy brilliant knife box office Are you a fucking idiot? A "business issue" is just a point that actually matters that you don't want to argue about with some midlevel lawyer.
Your anger makes no sense. What would they have to gain from engaging with you? Doesn't sound like you are going to budge, might as well have the client see if they can call your master and see if they can make you move. |
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Date: August 31st, 2018 5:17 AM Author: racy idea he suggested stage It's not anger, it's "disgust" at these hack lawyers encroaching like an advancing army on the sacred financial field of business MEN (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36720269) |
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Date: August 31st, 2018 9:30 AM Author: beady-eyed trailer park (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36720799) |
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Date: August 31st, 2018 9:22 AM Author: beady-eyed trailer park bahahahahahahahahhahahahahahahahhahahahahahahha. this is adorable.
with the possible exception of wachtell (which gets to put its name on marketing materials alongside banks in certain cases) lawyers have nothing to say about business issues (except perhaps to other lawyers on points that don’t actually matter). the idea of lawyers opining on valuation or EPS dilution is comical. get the fuck out of here lol. |
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Date: August 31st, 2018 11:42 AM Author: racy idea he suggested stage ? Lawyers see tons of comps - more than bankers because they also have a view into non-marketed, unreported deals - and their duty to the client would extend to providing information about market conditions and purchase price metrics. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721620) |
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Date: August 31st, 2018 12:00 PM Author: beady-eyed trailer park i guess it doesn’t actually matter when people are wrong on the internet. go forth into the world with your silly view on the matter i don’t care. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721723) |
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Date: August 31st, 2018 12:10 PM Author: racy idea he suggested stage (MAF excel monkey) (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721778) |
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Date: August 31st, 2018 12:26 PM Author: beady-eyed trailer park % of corporate lawyers that would become bankers right now given the opportunity? % of bankers that would rather be lawyers? Not really interested in your answer - just want you to dwell on the question for a second (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721854) |
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Date: August 31st, 2018 12:29 PM Author: Doobsian violent electric furnace No way any biglawyrr wants to become a banker. How is that a desirable switch? People in biglaw who want go into business want like a top corporate job or buy side PE (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721874) |
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Date: August 31st, 2018 12:37 PM Author: beady-eyed trailer park Lol (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721901) |
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Date: August 31st, 2018 12:39 PM Author: Sadistic double fault juggernaut (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36721910) |
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Date: August 31st, 2018 2:18 PM Author: racy idea he suggested stage ??? How many (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36722478) |
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Date: August 31st, 2018 2:41 PM Author: laughsome candlestick maker cumskin the "business issues" they are talking about aren't even EBITDA multiples. it's whether Schedule 3.02(b) lists all material permits that need to be transferred, or only permits that would have a material adverse effect. (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36722623) |
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Date: August 31st, 2018 2:43 PM Author: Doobsian violent electric furnace Wait, why aren’t these legal issues? (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36722649) |
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Date: August 31st, 2018 2:50 PM Author: laughsome candlestick maker cumskin "That's a risk allocation issue. We'll have to touch base with our client's EHS compliance team to find out how much appetite they have for missing permits. Will circle back with your shop after we run this to ground internally. That provision remains expressly subject to their further review and comment until then." (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36722723) |
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Date: August 31st, 2018 3:43 PM Author: Doobsian violent electric furnace We’ve generally taken the view that these permits are legal issues. Can we hop on a quick call to hammer these out? We can use my dial in (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36723110) |
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Date: August 31st, 2018 2:20 PM Author: Crawly apoplectic institution anybody who says "don't know what they don't know" deserves to be severely beaten with a tire rod (http://www.autoadmit.com/thread.php?thread_id=4064851&forum_id=2#36722487) |