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Enron Mail |
Gang, =20 I had to get into the act too. =20 This will probably be the last email you get from me from this address. I = just closed the sale of NBCi to NBC and am now looking at the world with a= new point of view. After 5 years in investment banking following b-school= , I spent the last 3 years riding the .com wave before crashing onto the b= each. We had a wild ride completing something like 15 acquisitions, 25 min= ority investments, 4 international JVs and license agreements and raising = over $500 million dollars in three separate public equity offerings before= the party ended. It could have been worse. The experience was more fun th= an riding a rollercoaster on speed and I met a ton of great people. I also= got to see a number of 4QTRS out West including Sheraton, Lee, Scott and = Ana (just last month). Luckily, NBCi had a graceful landing with a sale of= the company to NBC. The price ($2.19) wasn't quite the peak ($106) but wh= at the hey, times have changed and you've got to change with them. I did f= ight like hell for that last $0.04 cents though using every bit of knowled= ge I gained in my negotiation class at the old alma mater. The merger was = approved last week and closed on monday and I am now officially unemployed= . =20 I am currently doing things such contemplating my navel and counting waves= on the East End of Long Island. It's not all bad losing your job in Augus= t. We have a house in East Hampton for the month and between shuttling the= kids to camp and getting in some tennis and golf I am keeping quite busy,= thank you. Jeannette closes her private practice every August so we are a= ll (me, Jeannette, Hannah, Noah and Rachel) enjoying the break. We have a = trip to Europe planned for September and then i will face the awful job ma= rket with one option being continuing in the media space doing corporate d= evelopment / m&a work. =20 I have been told by people wiser than me that it sometimes takes 6 months = to get your bearings and figure out how to put all the pieces together. If= so, so be it. I'm prepared for the worst with all that great training we = had (read: yes you can drink all night and still pass a final exam). In th= e meantime, if you happen to be out in the Hamptons this summer don't hesi= state to look me up. I'll be the one sipping a cold beer under a big umbre= lla watching the waves roll up on the sand. =20 Marc =20 cell: 917-922-9303 email: marc@sznajderman.com=20 home: 212-316-6670 =20 =20 =20 =20 -----Original Message----- From: Ken Yager [mailto:kryager@home.com] Sent: Tuesday, August 14, 2001 5:40 PM To: MSLS@Bigfoot.com; AndrewSWhitman@aol.com; jagah1@bloomberg.net; peterb= ennborn@compuserve.com; kerry@garage.com; ccalger@enron.com; carvej@tdbank= .ca; pfalcon@netvigator.com; jcriado@ahorrocorporacion.com; peter_dahlstro= m@mckinsey.com; damsen@sprynet.com; esquivel@pacbell.net; ajferrer@mindspr= ing.com; rgatlin1993@kellogg.nwu.edu; ggeib@windsorfoods.com; robert_gersh= on@msn.com; milton@pcc.net; randy@gottfried.com; lee@stonepath.com; IHecht= man@aol.com; BAEFSOFIA@aol.com; BIriondo@aol.com; marjory.rosser@gecapital= .com; sheraton.kalouria@nbc.com; t.kersig@kersig.com; ingrid_gentry@b-f.co= m; gavin.kosviner@gs.com; SSLathi@aol.com; lavorato@enron.com; albert.man= zone@intl.pepsi.com; scmartin@rheem.com; bmj@michelson-realty.com; george@= fschi.com; dmullarkey@scirex.com; dmuller@earthlink.net; andre.patay@kavli= .no; peterson@cedarllc.com; lorraine_berchtold@yahoo.com; WTJRSJ@aol.com; = scott@sedlik.com; marcs@nbci.com; frischer@msn.com; john_tiefel@mckinsey.c= om; j.e.vazquez@yahoo.com; scott.e.velting@ameritech.com; michael_vila@hot= mail.com; mwaldron1993@alum.kellogg.nwu.edu; ana@justarrive.com; donna_ba= uman@unc.edu Subject: Another 4Q Update Hi all!! or Y'all (which ever you prefer) =20 Great summer, 3 weeks in Italy (tuscany) with my wife and kids. I love Tu= scany. Cannot wait to see the rest of Italy and start getting into more o= f Europe...next year. Other than that I went to my kid sisters baby's chr= istening. So weird to see my sister that way, those of you with younger s= ibs know what I mean. =20 It seems, like so many others, the entreprenuerial song is calling me...ag= ain. I had a lot of fun in dot.com land, but I am certain that one has pl= ayed itself out for now. Also, in all honesty, I think I will leave this = technology stuff to the rest of you. I get it, but man...there are too ma= ny ideas in each sector for little ol' me to keep up with. =20 So, I find it is a good time to get back to my roots and what I was doing = around the 5-yr reunion; LBOs. This time I am focusing on my true love, t= urnarounds; the messier the better. I have set up a partnership. Initial= ly, my partners and I seek mfgs ($5MM to $50MM) of products with ticket pr= ices under $100 per unit sold, with losses or breakeven performance. They= need to be in the Midwest, and in Greater Chicago if they are less than $= 10MM in rev. =20 Example: this summer we bid on a $30MM mfg of brass ingots (cost $25 bucks= an ingot altough sales where in the $100K plus per order), with losses ro= ughly of $3MM per year. It had lots of financiable assets and a core busi= ness that was viable. Management had stopped paying attention to cash flo= w and thereby ran the ship aground. =20 It does not have to be that mundane, but you get the picture. =20 So that sort of stuff should keep me real busy for a while. If you come a= cross small/middle market companies with these kinds of issues, drop me a = line. Especially, those of you in really big companies with lots of no-o= ne-can-remember-why-we-bought-this-company-in-the-first-place little divis= ions. =20 If you are in Chicago, drop me a line. If you are flying in or out of Chi= cago, wave just before you land, you are just over my house. =20 Until next time... =20 Ken Yager 847.692.2262 h/o 847.987.9450 mkryager@home.com=20 713 South Lincoln Avenue Park Ridge, IL 60068
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