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You May Kiss the Bride, The Wire Transfer is Complete

It’s all we talked about around our house for nine months. My daughter was getting married, and she and her mom (my wife) had plenty of time to plan a wonderful celebration for family and friends. My daughter is very responsible; I gave her a wedding budget, and for eight months and two weeks, she reported her spending with precision and confidence. I was so proud of the way she managed the process, staying upbeat Read More

It’s Just an LOI, Let’s Sign It and Move On

“Hell’s bells, Jim, it’s just a non-binding LOI, please get him to sign it and let’s get on with this thing.” Bart (not his real name) was unhappy with me. My first clue was this call came in at 6:30am. “You told me our LOI was going to be signed three days ago, what’s the hold-up? I have bankers and investors waiting to hear.” I explained to Bart that my client liked the deal he had on the table and that I was 90% Read More

The Danger of an LOI

“Let's have a celebration dinner, I want to thank the team for getting us here.” Hugh (not his real name) was rightfully excited. He had just signed a Letter of Intent (LOI) to sell his company for enough cash to take care of his children's children. But I put a stop to the idea of celebrating too soon. I said, “Hugh, signing the LOI is great, and I know it’s taken you a long time to get to this point, but the next Read More