I agree with Jane on third party facilitation - having done a couple of mergers as a ‘first’ party..representing the acquiring agency…it is difficult to appear impartial, even when you are, as an employee of the acquiring / surviving agency. I also believe that mergers are more relevant than ever, if only because funding, be it governmental or donor based, is only getting tighter and tighter - a trend that can only worsen as states, in particular, begin to suffer from the short term fix nature (ie: selling off revenue generating assets such as lotteries and toll roads) in exchange for cash that disappears or in state underfunding their pension plans that will become true liabilities as more and more employees retire.
COMMENTS
BY DAVID MCCONNELL
ON August 29, 2008 11:29 AM
Jean….
Well done.
I agree with Jane on third party facilitation - having done a couple of mergers as a ‘first’ party..representing the acquiring agency…it is difficult to appear impartial, even when you are, as an employee of the acquiring / surviving agency. I also believe that mergers are more relevant than ever, if only because funding, be it governmental or donor based, is only getting tighter and tighter - a trend that can only worsen as states, in particular, begin to suffer from the short term fix nature (ie: selling off revenue generating assets such as lotteries and toll roads) in exchange for cash that disappears or in state underfunding their pension plans that will become true liabilities as more and more employees retire.
A dark picture but mergers are ONE answer.
Again…thanks for raising this up.
David