You may have heard the term "800 Pound Gorilla" in reference to a powerful person able to exert pressure in the business world, but some firms have taken this term literally by actually hiring 800 pound gorillas to handle their negotiations. Though the gorillas lack a keen grasp on issues such as debt restructuring, they have proven to be incredibly effective in merger talks. As one example, Joe Sena, CEO of Sena Manufacturing, explained why he agreed to sell his $20 million interest in his company for a total of 25 cents: "If I didn't agree, they were gonna let that gorilla rip my arms off!" The SEC is investigating this practice.
posted by Mike at 7:47 AM link/comments
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