Fred Sinatra

echefula nkwa i kwere onwe gi

@BoringBiz_ But that’s where you stay the longest. You can be there for 5 to 7 years.

Being a VP is really the sweet spot of banking and private equity jobs You are just senior enough to avoid most of the grunt work that blows up your late nights and weekends And you are also just junior enough to not have any real pressure to generate P&L and chase clients right away Most friends I know who have gone through it all tend to agree that your VP years are the golden years on the finance career track

We switched roles. I hope you enjoy being a producer @BNXN The game needs us May 11th

As someone in middle management, I can tell you that a lot of your colleagues have poor work ethic and need the hard hand of authority. WFH only really works with small specialist teams.

commot for school area nau, e don reach two years wey you graduate you this boy.

@BrianGCN 😂😂😂😂😂

Nigerians think they’re in game of thrones, yet they don’t have light. We don’t have dracarys my brother.

Will PO leave NDC too if he doesn’t win?

@stokwxne Rich, not sure? Maybe comfortable.

The rise of Social Media is likely the reason behind most people seeing the traditional corporate path as "uncool". If you don't come from privilege, it's still the easiest and most predictable way to get rich.

@roguebaguette Please report to the customer care, they will deal with this issue. It’s happened to me before. He will be contacted and it won’t happen again. Apologies.

this morning, my bus (shuttlers) left me. not even because I was late. the ETA was 7:24, I left my house by 6:50 so I could get to the bus on time. by 7:06, the driver calls (I'm still on my way), telling me he has arrived and will leave by 7:07

@The_Dimbo2 How na

I think if you cant be platonic friends with a girl as a guy (or vice versa) you're a low iq porn addict

Five hours till I land Nairobi, got my passport with me and my bag of kpoli. I'm kinda nervous if they even know me, cause I went number one and I ain't been there lowkey. Kinda different for me, see my life like a movie, I wonder if they're gonna separate me from all the novices that's in my country, God go forgive me

Registered Leuxs Es350 2013 Model In perfect working condition, nothing to fix. Come with your mechanic for inspection & make payment after 💰 12 Million

Before AI there was kung fun This is Kung Fu best scene of all time

@loveasiannn Don’t o

I’m about to start asking celebrities for things on this app 🤨

The CFAI just keeps looking for ways to get money from its members.

Hope Barça gives a grand farewell to Lewandowski before the Betis game, most probably his last home game at this club. Joined when no one really wanted to join Barça, and is leaving when everyone wants to stay. Put Barça back in the fucking map. Thanks for everything, Robert. 🥲

God of all grace

Sellside EBITDA shown by bankers or the seller themselves often contain numerous adjustments that make no sense to be included If you are in the process of buying a business, the burden is on you to be prudent and make sure you understand what real EBITDA of the business looks like First and foremost, it is important to understand two things > EBITDA itself is not a GAAP metric. Companies only provide this because investors to prefer to view majority purchase transactions through the lens of EBITDA. As a result, there is no uniformity in the calculation of adjusted EBITDA. Every company has their own definition and can voluntarily include or exclude items they wish > EBITDA is still a useful metric, because it looks at profitability of a business irrespective of capital structure. When a new buyer steps into a business, the debt and equity balances of a company changes. This creates a different interest burden and tax burden on the company. Assets also get recorded on a stepped up basis, which changes the math on depreciation post-acquisition So as a buyer, how do you diligence EBITDA? Starting from the very basics, you should first verify how reported EBITDA is being calculated. This is as simple as operating income plus depreciation and amortization for most companies. However, some companies will also add back impairments or other non-operating expenses in their reported EBITDA. Next, you want to look at the bridge between reported EBITDA to adjusted EBITDA to better understand what adjustments are being included. This is easiest if you have a quality of earnings (QoE) report prepared already by a trusted accounting firm. Often times, sell-side bankers will prepare this ahead of the sale process for providing it to potential buyers. In almost all cases, buyers are recommended to get their own buyside quality of earnings report done. You want certainty and precision when making a large business purchase decision. It is worth the extra dollars to pay for that QoE. Once you have the list of adjustments, you want to pay attention to a few things > Items that are being added back as non-recurring or unusual items but continue to show up in the P&L multiple years in a row. These are the items where you want to give very little credit, if any, to the seller. Ideally, you can get as granular as possible on the number to truly understand what is recurring and what is not > Items that are truly non-cash. Due to accounting standards, certain non-cash items often show up in the P&L and are added back to show Adj. EBITDA. These are items where I generally think it is fine to provide credit to the seller > Items that are expected to keep reoccuring in the business, even though they look like one-time items. A good example of this is consulting or legal fees related to M&A. Most companies will attempt to add this back in their EBITDA. However, if the company is a platform business that is acquisitive through small tuck-ins, legal and consulting M&A fees are going to keep showing up in the business A lot of this will sometimes depend on how you look at the business through the lens of the specific buyer. If you are purchasing a majority stake with control over the business, you will have decision-making power to decide what expenses you will continue to incur The point is this: you never want to trust the sellside EBITDA at face value. You can almost always assume that real EBITDA in the business is lower than whatever sellside number and multiple is being used to market the company to potential buyers. Important to do your own diligence on these points and come to a view on what EBITDA and multiple makes sense