PRIME MOVERS
Entity Dossier
entity

Boone

Strategic Concepts & Mechanics

Strategic PatternProcess of Bites, Not Grand Plans
Decision FrameworkCash Flow Over Earnings as Debt Survival Test
Relationship LeverageHighly Confident as Substitute for Actual Capital
Capital StrategyInterest Deductibility as Leveraged Assault Fuel
Competitive AdvantageNOL as Bidding War Nuclear Option
Signature MoveSpeed-of-Sale as Debt Survival Doctrine
Signature MoveLawyer as Deal Principal, Not Hired Gun
Signature MoveParis Apartment Discipline
Signature MoveAll Debt Disguised as Equity
Cornerstone MoveBuy the Whole, Sell Everything But the Crown Jewel
Cornerstone MoveBlind Pool Before the Target Exists
Cornerstone MoveBribe the Gatekeeper, Storm the Castle
Cornerstone MoveBankruptcy's Tax Corpse as Acquisition Weapon
Competitive AdvantageTax Arbitrage as Structural Weapon
Operating PrincipleProfessional Manager Decay Across Generations
Risk DoctrineNever Cut Back a Committed Deal
Signature MoveMilken: Four-Thirty AM Cathedral-Builder With No Office
Capital StrategyVenture Capital Masquerading as Debt
Signature MovePeltz: Spittle-on-the-Check Persistence from Near-Broke
Signature MovePerelman: Borrowed $1.9M to a Boeing 727 in Seven Years
Cornerstone MoveManufactured Credibility from Thin Air
Decision FrameworkContra-Thinking as Default Mental Operating System
Identity & CultureForced Savings as Loyalty Handcuffs
Cornerstone MoveCash Flow Over Earnings as the Only Truth
Cornerstone MoveBuy the Core, Sell the Pieces, Erase the Debt
Signature MoveKingsley: Mount Everest Desk, Twenty-Year Sounding Board
Signature MoveIcahn: Wrestling-a-Ghost Negotiation Until the Last Penny
Cornerstone MoveOwner's Equity as the Non-Negotiable Discipline

Primary Evidence

"Drexel’s problem was that it had no Fortune 500 client with a billion-dollar bank line to wage a takeover. But what if Drexel had the billion dollars, at the ready? Or what if they said they did (and got it later)? And what if, by their staking the word of the firm on this claim, the world believed it and acted accordingly? In the new lexicon—and universe—that Drexel would soon create, this concept would become known as the “highly confident” letter. But for now it was christened (for its emptiness) the Air Fund. “We would announce to the world that we had raised one billion dollars for hostile takeovers,” one Drexel executive recalled. “There would be no money in this fund—it was just a threat. The Air Fund stood for our not having a client with deep pockets who could be in a takeover. It was a substitute for that client we didn’t have. “That concept led to our making Carl Icahn real instead of nettlesome. Carl ended up being our Air Fund. Boone ended up being our Air Fund. We manufactured out of thin air—almost thin air—a credible takeover guy.”"

Source:The Predators' Ball

"Drexel’s problem was that it had no Fortune 500 client with a billion-dollar bank line to wage a takeover. But what if Drexel had the billion dollars, at the ready? Or what if they said they did (and got it later)? And what if, by their staking the word of the firm on this claim, the world believed it and acted accordingly? In the new lexicon—and universe—that Drexel would soon create, this concept would become known as the “highly confident” letter. But for now it was christened (for its emptiness) the Air Fund. “We would announce to the world that we had raised one billion dollars for hostile takeovers,” one Drexel executive recalled. “There would be no money in this fund—it was just a threat. The Air Fund stood for our not having a client with deep pockets who could be in a takeover. It was a substitute for that client we didn’t have. “That concept led to our making Carl Icahn real instead of nettlesome. Carl ended up being our Air Fund. Boone ended up being our Air Fund. We manufactured out of thin air—almost thin air—a credible takeover guy.”"

Source:Predator's Ball

Appears In Volumes

The Predators' BallPredator's Ball