Sometimes, a buy sell deal doesn’t work out. Sometimes you don’t know it isn’t going to work out until you are almost ready to sign. What are your options when that happens? This week, Ken Rosenfield, whose firm Rosenfield & Co. has faced that situation, describes some of your options.
Let’s assume that doesn’t happen very often though. Your deal goes through after a thorough due diligence. But you still may find some operations shortcomings after you assume ownership. One way to begin to ferret those out, MBAF’s Juan Pena tells us, is to see if the office manager or controller can provide a dealer financial statement within five to seven business days after the end of the month. If that isn’t possible, he offers some suggestions of areas to look for a broken process.
And then there’s Transaction News.