“We came in about half of their budget, what they had internally budgeted for shutting down this division, and probably two-thirds of the time”

Middle Market Growth · Carve-Out vs. Wind-Down: A Guide to a Complex Exit

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11:46

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What was described

completed the Pitney Bow wind-down at roughly half the internal budget and two-thirds of the planned time

half of their budget, two-thirds of the time

Said nearby on the same subject

“Of the 1,500 or so Pitney Bow's employees, we didn't receive a single claim in the bankruptcy court or otherwise from any of those employees”
♫
Said on Middle Market Growth
Why it worked 1,500 or so employees, zero claims Share this moment
“For six months, Jeff would be the salaried GM with nothing at risk but his time. After that, he could buy a third of the business at a pre-agreed price, and he'd have up to three years to buy the remaining two-thirds, half at that same price, and half at a pre-agreed multiple.”
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Jeff Thompson
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Business model 6 months, 1/3, 3 years, half, pre-agreed price, pre-agreed multiple Share this moment
“I think roughly two-thirds of serious kernel CVEs stem from memory safety bugs. And 30 years of C discipline hadn't moved that number in any other positive direction.”
DK
Danilo Krumich
Software Engineering Radio - the podcast for professional software developers ·
Contrarian take Share this moment
“I would not drop this until she like actually physically said, no, like we do not want your help anymore. I'm like that. I'm like a dog with a bow and I'm like, I will follow up with like 25 times until I get a no.”
TL
Tom Lewis
Business Class ·
How they work 25 follow-up attempts Share this moment

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