Ever heard the story of a farmer who found out that someone had been stealing watermelons from his garden? He couldn't catch the wily thief, so one day, he put up a sign that said "one of these melons is poisoned".
What goes for watermelons apparently also goes for due diligence reports.
Yesterday, one of the partners sent Wahbert to ask the Queen for a due diligence report that she had prepared for a client, despite allegations that he had stolen the client from the Queen. This other partner was going to use the Queen's report and just update it, rather than doing the work from scratch. He gets to do this to the Queen because the poor Queen has inadvertently incurred the wrath of the Master of the Universe, Supreme Ruler of WoW.
The Queen was in a truly precarious position. There is a charge of treason hanging above her head and the King all but has a knife at her throat. With her hands tied, the Queen was in no position to refuse handing over the report. But the Queen did not become Queen by being easily cowed. She looked at Wahbert calmly and said, "You can have it, but the minute you open it, you will be subject to a higher standard of care because you may find all sorts of things in the report that you would not otherwise have."
The result? The other partner will be doing his own due diligence without using the Queen's report and the Queen cannot be said to have refused to cooperate. Long live the Queen!
Thursday, March 23, 2006
Tuesday, March 21, 2006
I hate merchant bankers
Wahbert just came back from a meeting with further proof of why she dislike merchant bankers.
A point of law came up for discussion, and the merchant banker cut it off by saying "that may be so, but we are not here for a legal debate with you. In our experience, the Commission takes a different view" Later on during the meeting, the client again had another point of law to discuss, so she directed the question at the merchant banker and said, "with your dearth of experience, what do you think?" and the merchant banker happily prattled on about what he kNoWs the Commission would say or do.
Dearth, of course, means a scarcity or lack of... in other words, that big gaping hole where experience should be.
A point of law came up for discussion, and the merchant banker cut it off by saying "that may be so, but we are not here for a legal debate with you. In our experience, the Commission takes a different view" Later on during the meeting, the client again had another point of law to discuss, so she directed the question at the merchant banker and said, "with your dearth of experience, what do you think?" and the merchant banker happily prattled on about what he kNoWs the Commission would say or do.
Dearth, of course, means a scarcity or lack of... in other words, that big gaping hole where experience should be.
Wednesday, March 01, 2006
usually im quite nice... really!
Today, Wahbert receives an email attaching pictures of a dozen homeless dogs that are in need of shelter. Wahbert does not like said sender and finds email annoying. Wahbert sends link to http://www.petsorfood.com
Somehow I just know that it's moments like these that will come back to haunt me when I'm old alone miserable and wondering why :)
Somehow I just know that it's moments like these that will come back to haunt me when I'm old alone miserable and wondering why :)
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