How Does Debt Factor into Value?

The Lex column in the FT recently reviewed the market capitalisation of Tesla and Fiat. Tesla is bigger at $17bn Vs. Fiat at $10bn. Now some of you may find that bizarre. Fiat sells 5m cars a year and Tesla sells 20,000 (and being a niche brand will never sell 5m)....

Private Companies – Why Form a Board?

Every public company has a formal Board of Directors with fiduciary duties to shareholders. However as the owner of a private company I’d like use this post to highlight some of the objectives, benefits and costs of various forms of Boards. The Advisory Board...