"Hordes of cash by Big Pharma and the larger bioetch companies have accumulated, and now that health care reform is behind us, they've got a bit more confidence and they want to fill in their pipeline and be in control of the FDA process," says Joel Papernik, a partner of Mintz Levin in The Deal's video. "They have a lot of motivation to buy right now," including the expiration of many patents, he says. The interview with Papernik is part of our special series on Faces of the Middle Market. Read the full story in The Deal magazine, watch the videos, listen to the podcasts and read the white papers. Watch the interview with Papernik below or download it on iTunes. . -- Mary Kathleen Flynn
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Garrett Baker on cable M&A
Updata Advisors' Ira Cohen on tech M&A
Jordan Edmiston's Scott Peters on media M&A
Manatt Phelps' Jay Rand on tech M&A
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Global Cash Access Inc., which provides ATMs and other cash access products to the gaming industry, has felt the squeeze as well, though chief executive Scott Betts says acquisitions have helped his firm weather the storm.
Congressional hearings into the activities of Goldman Sachs Group Inc. came at a fortuitous time for proponents of financial reform. Testimony from Lloyd Blankfein and company on Capital Hill coincided with debate about financial reform in the U.S. Senate. Efforts to combine the House and Senate bills, however, is happening in a less heated environment, says Paul, Hastings, Janofsky & Walker LLP's Lawrence Kaplan, and should result in a toned down final version.
"It's an interesting market on the sell side," says Jay Rand, a partner of Manatt, Phelps & Phillips, LLP, in The Deal video. Venture capital firms that still have in their portfolios companies funded in the late '90s are "very, very motivated to get these legacy companies sold or in some cases to go public," says Rand, who advises venture-backed companies and VC firms, including Union Square Ventures, and previously, USV co-founder Fred Wilson's first firm, Flatiron Partners. The interview with Rand is part of our special series on Faces of the Middle Market. Read the full story in The Deal magazine, watch the videos, listen to the podcasts and read the white paper. Watch the video below or download it at iTunes.-- Mary Kathleen Flynn
Despite all the talk about how "the New York tech scene is exploding," at least one first-time entrepreneur is leaving for Silicon Valley -- and taking his startup with him. "Anyone who has been to Silicon Valley knows there is more of an equity culture, a more entrepreneurial-minded engineering culture," argues Matt Mireles, the 29-year-old founder of video-to-text service SpeakerText Inc. His take on New York may be blasphemy to Gotham's digital faithful, who say the city is poised to become the "next tech mecca," but his story highlights what New York must do to challenge the San Francisco Bay Area as the country's best breeding ground for technology powerhouses.
In a video interview with The Deal, FirstMark Capital CEO Larry Lenihan talks about the NYC Entrepreneurial Fund, a $22 million seed and early-stage venture capital fund available to New York City-based technology startups in partnership with the City of New York. Announced Tuesday morning by Mayor Michael R. Bloomberg at the TechCrunch Disrupt Conference, the NYC Entrepreneurial Fund is the first city-sponsored seed fund located outside of Silicon Valley, and is part of the City's ongoing efforts to stimulate entrepreneurship and facilitate growth within the startup community. MyCityWay, a mobile application and platform provider - and the developer of NYCWay, which won Investor's Choice and Popular Choice awards at the City's inaugural NYC BigApps competition in February 2010 -- is the fund's first seeded company. -- Mary Kathleen Flynn
Pent-up demand combined with likely changes next year in taxes for capital gains and private equity firms' carried interest will make 2010 a year jam-packed with middle market media M&A deals, says investment banker Scott Peters, the co-president of The Jordan Edmiston Group Inc., in The Deal's video. The fourth quarter may prove a "disaster as companies rush to close deals before the 12/31 window" and competition for the services of bankers and law firms will be fierce as dealmakers struggle to complete transactions before year's end. The interview with Peters is part of our special series on Faces of the Middle Market. Read the full story in The Deal magazine, watch the videos, listen to the podcasts and read the white paper. Watch the interview with Peters below or download it on iTunes. -- Mary Kathleen Flynn
It's easy to see who were the most active law firms, banks and other advisers working on bankruptcies of $10 million or more in the first quarter of 2010, thanks to The Deal's new bankruptcy league tables, which are organized by volume, explains Anthony Baldo, the editor who leads our bankruptcy coverage, in this video interview.
26-year-old Alexa von Tobel had her pick of venture capitalists to fund LearnVest, a New York startup that is developing a personal finance Web site aimed at women in their 20s. She chose Silicon Valley's Accel Partners to lead LearnVest's recent $4.5 million Series A round and partner Theresia Gouw Ranzetta to join the company's board. In this video interview with The Deal, von Tobel says that in Ranzetta, she gained a VC who sits on the boards of Glam Media and Trulia and is as passionate about LearnVest's mission to educate women about money as she is herself. Watch the video below or download it on iTunes.-- Mary Kathleen Flynn
Former Morgan Stanley employee turned-tour guide, Annaline Dinkelmann, can recite the local haunts of almost every financial icon on Wall Street, from the area's beginnings in the 1600s to the present. On her tour Dinkelmann delves into the conflicts that have divided Main Street and Wall Street throughout the financial crisis. Join Dinkelmann on her Walk of Shame below or read about it in The Deal Magazine. Watch the video below or download it on iTunes.
Facebook Inc. CEO Mark Zuckerberg reportedly flew to New York recently to meet with Foursquare founder Dennis Crowley, intensifying speculation that Crowley may sell his hot location-based social network. But in this video interview with The Deal, serial entrepreneur Caterina Fake, whose current startup is recommendation Web site Hunch and who sold her first startup, photo-sharing site Flickr, to Yahoo! Inc. for a reported $30 million, argues that entrepreneurs with a sale under their belts, like herself and Crowley, who sold his first startup Dodgeball to Google Inc., are less likely to sell the second time round. -- Mary Kathleen Flynn
There is a strong possibility that a final financial reform bill will grant shareholders an advisory vote on executive compensation. The measure may help quell populist rage on executive pay, but Gibson, Dunn & Crutcher LLP partner Amy Goodman says standardizing say on pay doesn't make sense
Who owns the corporation? That seemingly benign question has for decades been the source of strident debate in the corporate governance community. The orthodox position is that shareholders own the company. Latham & Watkins partner Charles Nathan believes the answer is much more complicated
Corporate law has long provided a framework for how corporations should be structured and run. But Weil, Gotshal & Manges LLP partner Ira Millstein, a senior statesman of corporate governance, says it took a succession of events in the 1980s and 1990s before boards took notice.
Latham & Watkins LLP partner Charles Nathan is as close to a corporate governance heretic as they come. He calls proxy statements "a totally useless destruction of forests" and corporate governance "a big conceptual dead end." In fact, he says, with no empirical evidence to prove that "so-called" good governance practices improve corporate performance, the entire governance complex runs on little more than faith
The merits of proxy access have been endlessly debated. But Gregory Taxin, co-founder of Glass, Lewis & Co. and now a managing member at Spotlight Advisors LLC, says a more systemic problem exists within the process for electing boards of directors.
Lax corporate governance didn't cause the financial crisis, says Weil, Gotshal & Manges LLP partner Ira Millstein. But the complexity of financial services firms clouded the ability of boards to identify risk
Meredith Corp.'s John Zieser says that if the rumors that Hearst Corp. is nearing a deal to purchase digital marketing company iCrossing for $375 million are true, then Hearst is taking a different strategy than his company. Watch the video below or download it at iTunes.--Maria Woehr