Jeffrey's Feed
Feb 20, 2015
via Breakingviews

Time Warner Cable’s deal risk goes down to wire

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Time Warner Cable’s deal risk is going down to the wire. The $45 billion sale to larger rival Comcast has already been under consideration for nearly a year by U.S. regulators. A Federal Communications Commission preoccupied with its decision to treat the internet like a utility caused part of the delay. The agency’s decision to raise the standard for high-speed broadband also sparked fresh concern it might influence the Department of Justice’s analysis. Implied chances for success are now at 60 percent, close to the lowest in the market since the transaction was announced.

Jan 23, 2015
via Breakingviews

Putin, Piketty and Draghi hit Davos in spirit only

Photo

By Jeffrey Goldfarb 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It can feel like everyone who’s anyone in politics and finance is in Davos, Switzerland this week. World leaders and most of the titans of industry and finance again are swapping ideas in public sessions and over private cocktails at the World Economic Forum’s 45th annual meeting. Conversations are buzzing up and down the Promenade about rampant inequality, the European Central Bank’s plan to flood markets with money and Russia’s conflict with Ukraine. Notably missing from the Alpine retreat are the three people actually inspiring those debates.

Jan 23, 2015
via Breakingviews

Putin, Piketty and Draghi hit Davos in spirit only

Photo

By Jeffrey Goldfarb 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

It can feel like everyone who’s anyone in politics and finance is in Davos, Switzerland this week. World leaders and most of the titans of industry and finance again are swapping ideas in public sessions and over private cocktails at the World Economic Forum’s 45th annual meeting. Conversations are buzzing up and down the Promenade about rampant inequality, the European Central Bank’s plan to flood markets with money and Russia’s conflict with Ukraine. Notably missing from the Alpine retreat are the three people actually inspiring those debates.

Jan 20, 2015
via Breakingviews

Climate feels right for certain deals in Davos

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Torrid trade winds are blowing through Switzerland’s crisp mountain air. Global business leaders and bankers convene this week for the World Economic Forum fresh off a $3.5 trillion year of mergers, the biggest tally of the post-financial crisis era. While the momentum creates an ideal climate for corporate dealmaking, it’s less clear the atmosphere is conducive to strike the more important political accords for which Davos has become renowned.

Dec 30, 2014

Breakingviews: Shake Shack IPO disappoints in taste test

By Jeffrey Goldfarb

NEW YORK (Reuters Breakingviews) – Shake Shack is turning
the basic burger into complex financial cuisine. The global
fast-food chain started by celebrity restaurateur Danny Meyer
filed to go public on Monday with some of the tortured trappings
served up with new technology stocks. Two classes of shares and
creative financial metrics are especially unappetizing. There’s
at least a sweetish bottom line to wash it all down.

Backed by private equity firm Leonard Green & Partners,
Shake Shack is a self-described “modern day ‘roadside’ burger
stand” whose vision is to “stand for something good.” While it
may achieve that with its twist on traditional American fare, it
falls short in the investment taste test.

Dec 30, 2014
via Breakingviews

Shake Shack IPO disappoints in taste test

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

Shake Shack is turning the basic burger into complex financial cuisine. The global fast-food chain started by celebrity restaurateur Danny Meyer filed to go public on Monday with some of the tortured trappings served up with new technology stocks. Two classes of shares and creative financial metrics are especially unappetizing. There’s at least a sweetish bottom line to wash it all down.

Dec 18, 2014
via Breakingviews

Dry powder may explode in buyout barons’ faces

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

In the private equity world, almost everything is going up. That’s just not as good as it sounds for buyout barons.

Dec 12, 2014
via Breakingviews

Goldman updates IPOs for the Candy Crush era

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Goldman Sachs has updated IPOs for the Candy Crush era. Bosses of firms heading for public markets are hooked on the bank’s app, which lets them track book-building in real time. With Apple and IBM coding mobile software for big companies, the smartphone economy is swiftly moving from the living room to the boardroom.

Dec 12, 2014

Breakingviews: Goldman updates IPOs for the Candy Crush era

By Jeffrey Goldfarb

NEW YORK (Reuters Breakingviews) – Goldman Sachs has
updated IPOs for the Candy Crush era. Bosses of firms heading
for public markets are hooked on the bank’s app, which lets them
track book-building in real time. With Apple and IBM
coding mobile software for big companies, the smartphone
economy is swiftly moving from the living room to the boardroom.

Raising money in an initial public offering can be tedious.
Chief executives must give a mind-numbing series of back-to-back
presentations to potential investors. After each meeting,
chaperoned by banks underwriting the new shares, buyers indicate
how many they want and at what price.

Nov 3, 2014
via Breakingviews

Music rally can shake off discordant Taylor Swift

Photo

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

Back in 1989, the year Taylor Swift was born and the title of her latest hit album, Garth Brooks sold over 10 million copies of his eponymous record. It is a bygone era for the music industry. Until Swift released the collection that includes “Shake It Off” last week, no artist had sold even 1 million this year. That sort of popularity gives her the market power to make decisions like the one she did on Monday to pull her catalog from digital streaming service Spotify.