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Archive for the ‘Gerbsman Partners’ Category

How to save the US banking system?

Posted in Board Of Intellectual Capital, Distressed Intellectual Property, Economy, Gerbsman Partners, Market research, tagged , , , , , , on May 18, 2009| Leave a Comment »

RGE recently pubsliched a lengthy article on what needs to happen to save tu US banking system. It makes for a good read and I highly recommend it.

“Many important US banks are currently in a dangerous halfway house between public and private, fragile and failed. This is unprecedented in scale, but not in situation. The United States faced a very similar problem with our Savings and Loan crisis of the mid-1980s, Japan and Sweden had systemic banking crises during the 1990s, and a host of less advanced economies have suffered from this type of problem.”

It continues…

“The ongoing accumulation of nonperforming loans and the resulting continued decline in solvency of many American banks has been a significant drag on growth and will only get worse absent government action. Properly capitalized banks will face losses from the recession no matter what, but will not roll over bad loans because they would have enough of their own capital at risk and can bear the costs of writing off bad loans. The costs to the US economy of leaving its financial system undercapitalized are enormous in terms of lost growth, missed investments in new firms and projects (due to the bias towards rolling over old loans to avoid write-offs by undercapitalized banks), and low returns on savings.

The Obama administration has announced that it will do strict examinations of the 20 biggest banks’ balance sheets starting this week. If anything close to current asset values are used to evaluate those books, and they should be, many of these banks will need public capital injections or closure. The reluctance to pull the trigger appears to be based on the fact that such forced write-offs would require the unpopular steps of another injection of public funds and/or round of closures, either way involving government ownership of those banks, a.k.a. nationalization. Failing to be so strict and leaving current shareholders and top management in control will just lead to further losses and repeated suspicions about some banks’ viability, as we saw in the stock market last week.”

Read the full article here.

Others covering this topic: Peterson Institute, Steve Lendman Blog, Institutional Partners and The BaseLine Scenario.

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“Maximizing Enterprise Value through Balance Sheet Restructuring & Date Certain M&A Process”

Posted in Board Of Intellectual Capital, boic, Economy, Gerbsman Partners, tagged , , , on May 14, 2009| Leave a Comment »

Gerbsman Partners has been involved with numerous national and international equity sponsors, senior/junior lenders, investment banks and equipment lessors in the restructuring or termination of various Balance Sheet issues for their portfolio companies. These companies were not necessarily in Crisis, had CASH (in some cases significant CASH) and/or investor groups that were about to provide additional funding. In order stabilize their go forward plan and maximize CASH resources for future growth, there was a specific need to address the Balance Sheet and Contingent Liability issues as soon as possible.

Some of the areas in which Gerbsman Partners has assisted these companies have been in the termination, restructuring and/or reduction of:

  • Prohibitive executory real estate leases, computer and hardware related leases and senior sub-debt obligations – Gerbsman Partners was the “Innovator” in creating strategies to terminate or restructure prohibitive real estate leases, computer and hardware related leases and senior and sub-debt obligations. To date, Gerbsman Partners has terminated or restructured over $770 million of such obligations. These 77 deals were a mixture of both public and private companies, and allowed the restructured company to return to a path of financial viability.
  • Accounts Trade payable obligations – Companies in a crisis, turnaround or restructuring situation typically have accounts and trade payable obligations that become prohibitive for the viability of the company on a go forward basis. Gerbsman Partners has successfully negotiated mutually beneficial restructurings that allowed all parties to maximize enterprise value based on the reality and practicality of the situation.

Date Certain M&A Process

Gerbsman Partners developed its proprietary “Date Certain M&A Process” in 2002. Since that time, the process has evolved into a 4-6 time frame vehicle for maximizing enterprise value for venture backed Intellectual Property based companies. A description of this proven process can be reviewed on the Gerbsman Partners website.

About Gerbsman Partners

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 52 Technology, Life Science and Medical Device companies and their Intellectual Property and has restructured/terminated over $770 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.2 billion of financings, restructurings and M&A transactions.

Gerbsman Partners has offices and strategic alliances in Boston, New York, Washington, DC, Alexandria, VA, San Francisco, Europe and Israel.

For additional information please visit www.gerbsmanpartners.com

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Few IPO candidates makes VC´s worried

Posted in Board Of Intellectual Capital, Business models, Economy, Gerbsman Partners, Intellectual capital, Investments, Market research, Strategy, Venture Capital, tagged , , , , , , , , , , on May 6, 2009| Leave a Comment »

A giant investment dilemma is coming into play as of late – the market, Silicon Valley especially, is running short on IPO candidates. The jackpots including Intel, Apple, Netscape, eBay, Yahoo and Google are all history by now. With few candidates, the payoffs look smaller and the real problem shows – where will the money come from for new investments?

Here are a good analysis taken from Silicon Valley.com.

“So how might a Facebook or LinkedIn IPO perform when the time is right? Or what will Skype’s IPO look like, assuming eBay proceeds with plans to spin it out in 2010 as a separate company?

“We’re seeing a rebuilding and stabilization of the IPO market, so that Silicon Valley firms will be able to participate.” said Jeff Grabow of the accounting firm Ernst & Young’s San Jose office, which issued its quarterly U.S. IPO Pipeline report Tuesday.”

It continues…

“The IPO is vital to the valley’s economy, promising a potential jackpot for VCs that compensates for investments that don’t pan out. Not so long ago, the valley seemed to pop out an IPO every few weeks. But since early 2008, the pipeline has been more like a sieve. The venture industry is now pushing for tax breaks and regulatory relief from Washington to revive the market.

Ernst & Young’s report offers a snapshot of the situation. Privately held companies get in the IPO pipeline by filing S-1 forms with the Securities and Exchange Commission that signal their plans to sell stock on public markets. There were 57 companies in the pipeline Dec. 31, but only 44 on March 30.

In the first quarter, 16 companies exited the pipeline — only two made Wall Street debuts. Among the others, 10 registrations had surpassed the one-year expiration for inclusion in the study, which suggests they may just be biding their time in a chilly market. Three registrants withdrew their S-1s, and one postponed. Three companies filed S-1s, including San Francisco-based OpenTable, the online restaurant reservation service.

When OpenTable filed in January, it seemed like wishful thinking in such a dreadful economy. Because SEC rules require “a quiet period” for companies that file for IPO, I couldn’t ask CEO Jeff Jordan why OpenTable was making such a move. How good could the restaurant business be with credit crunched and people pinching pennies?”

Read the full article here.

Other covering the issue: Techmeme, TechSheep, Congoo

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Apple Hits 1 Billion App Store Downloads

Posted in Board Of Intellectual Capital, FaceBook, Gerbsman Partners, Investments, Mobile, tagged , , , , , , , , , on April 24, 2009| 4 Comments »

Since its inception in July last year, Appstore has become a steady and viable business model for Apple. With over 1 Billion downloads, its fair to say that the rest of the mobile industry needs to take a very close look at the model.

As a result, Apple can now show some very significant numbers towards the mobile content market.

“There are over 37 million devices running Apple’s mobile operating system: over 21 million iPhones and over 15 million iPod touches (with 35,000+ apps available in the store) according to the company. Besides driving the success of the App Store, these devices also helped Apple control 50 percent of the mobile ad market and drive the most mobile OS Internet traffic in the U.S., according to the latest market reports.”

In relation to mobile advertising, the PC World story continues;

“AdMob’s research shows that the iPhone and iPod touch serve around 50 percent of the mobile ad requests in the U.S., followed by Research In Motion with 22 percent and Windows Mobile with 11 percent. Worldwide, Apple’s handsets go neck-to-neck with Nokia‘s when it comes to traffic generated by smartphones. AdMob’s data shows that Apple’s devices drive the most traffic world wide, counting in at 38 percent.”

Mashable, which mainly covers Web 2.0 news, made an interesting comparrison.

“The milestones comes just over three months after the company surpassed 500 million downloads, and about nine months since launching.

While it’s certainly an enormous milestone, how does it compare to some other massive numbers that various Web companies have reached recently? Here’s a look at a few huge stats:

While impressive in its own, and somewhat unrelated to eachother – web.20 have proven to produce some gigantic numbers that are serving as benchmarks for success.

Comprehensive blog coverage can be found here:  IntoMobile, MediaMemo, TechCrunch, SciTechBlog

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Successful Date Certain M&A of “Business Unit and Intellectual Property”

Posted in Board Of Intellectual Capital, boic, Distressed Intellectual Property, Distressed IP, Gerbsman Partners, Intellectual capital, Venture Capital, tagged , , , , , , , , on April 14, 2009| Leave a Comment »

Steven R. Gerbsman, Principal of Gerbsman Partners, Kenneth Hardesty and Dennis Sholl, members of Gerbsman Partners Board of Intellectual Capital, announced today their success in maximizing stakeholder value for a venture capital backed medical device company that developed a new minimally-invasive treatment option for patients with emphysema.

Gerbsman Partners provided Crisis Management leadership, facilitated the sale of the business unit, associated Intellectual Property and assets and recovered receivables. Due to market conditions, the senior lender and the board of directors made the strategic decision to maximize the value of the business unit and Intellectual Property. Gerbsman Partners provided leadership to the company with:

  • Crisis Management and medical device expertise in developing the strategic action plans for maximizing value of the business unit, Intellectual Property and assets;
  • Proven domain expertise in maximizing the value of the business unit and Intellectual Property through a targeted and proprietary “Date Certain M&A Process”;
  • The ability to “Manage the Process” among potential Acquirers, Lawyers, Creditors Management and Advisors;
  • The proven ability to “Drive” toward successful closure for all parties at interest.

About Gerbsman Partners

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 52 Technology, Life Science and Medical Device companies and their Intellectual Property and has restructured/terminated over $770 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.2 billion of financings, restructurings and M&A transactions.

Gerbsman Partners has offices and strategic alliances in Boston, New York, Washington, DC, San Francisco, Europe and Israel.

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