Rick Kes
speaker
172 appearances
12 recordings
1 series
first heard Feb 2025
last heard Jun 2025
Rick Kes’s voice in public audio — every appearance, attributed to the second.
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Appearances
Let's move forward and move on and, you know, make something work.
Yeah, I think to your point, Scott, it just goes to show that you pull one lever, one thing happens that you might see immediately, but other impacts happen kind of ancillary to that lever. And so I think nothing happens in a vacuum in reality in the global economy that we live in.
And I think to your point, you would like to think perhaps you could say that there's a push for every pull or a pull for every push, but- there could be multiples of that in any direction.
And so you don't really know, you know, the ultimate impact to global GDP or the U S GDP of any certain thing, whether it's tariffs or inflation or jobs reports or anything like that, until you get the chance to look back and kind of study it. And unfortunately, most of us can't wait for the data to kind of realize itself to the point where we can make those perfect, you know,
assumptions and ideas and react in the way that we would if we had all the information available we have to kind of react in the real time and and make decisions and and move forward and put like you said put money to work i mean there's you know again and there continues to be a lot of money on the sideline and a lot of opportunity for activity and i think some of us are just thinking at some point
we're just going to have to move forward because if we're just going to wait for interest rates to go down or wait for this or that to happen, we may be waiting for longer than we really have afforded to us.
Thank you, Scott.
Yeah. I mean, you know, I think, um, What we see with our clients is a lot of just, you know, every story is different. Every client, every situation is different. You know, some of our clients that, you know, have, you know, businesses that are really well ran, have a good track record, executive talent on their team.
you know, have a really strong business model, maybe have some ability to show how they differentiate using technology or, you know, something else in that respect. You know, those businesses seem to, you know, move along and exit just fine.
I think the organizations that we see that have a higher level of struggle or maybe those that, you know, are maybe a little laggard in their technology advancements, you know, somewhat, you know, kind of, more traditional in their business models and not maybe advancing things and pushing the needle, so to speak, and kind of being a leader in the industry.
And then I think those are the organizations that perhaps four or five years ago when there was a pretty big boom in the economy for deal exits or deal transaction activity, those businesses were trading at multiples that I think are going to be hard to achieve in the current environment. So, you know, maybe their expectations are a little higher than they could or should be otherwise. So I think
you know it's a it's again you know i think it really comes down to each individual business and transaction kind of stands on its own in some respects and and if you kind of boil them all together you know the ones that are really well ran and have you know really you know easy to sell ideas and concepts and technology i think those are the businesses that seem to move along
I think the ones that are maybe a little less sophisticated, I think those tend to have a little bit harder time to move unless the seller is willing to concede on some pricing and sell at multiples that maybe, you know, they wouldn't have expected, you know, three, four or five years ago.
Yeah, I completely agree with that sentiment. I think, you know, the days of just buying and building and not really doing anything new to the business and then creating value that those days seem to be gone. I think you need to buy, build and become more efficient or do something different with that business.
Like, you know, obviously, Scott, you know me well enough to know that I'm very keen into health care and, you know, if you just said, oh, we're going to take a bunch of physician practices and roll them up and sell them, that model isn't exactly the model that is being bought and sold today. But if you buy a bunch of physician practices,
build a value-based care model, do something different, use technology to advance and become more efficient or to reach patients in places that you wouldn't have been able to reach patients before. If you're changing the business and becoming more, advanced and pushing the needle in the industry, then you're creating value.
So I think just buying and building and creating scale that may make some minor arbitrage ability, but I think buying, building and changing the business to become more attractive to the next buyer. I think that's really where you'll find, you know, that arbitrage that you're talking about.
You know, I think, you know, we're very, you know, in touch with, you know, what's going on, I think, in D.C., you know, and some of the changes that's happening kind of in the political spectrum.
You know, I think if you look at some of the changes that the Trump administration is making with the number of people being laid off and some of the different agencies and parts of the government, it starts to wonder, like, you know, with the employment market as tight as it is, you know, where can those people
go and what value those people can bring to businesses that maybe would find their expertise and experience from working inside the federal government for as long as some of those people have had. How that is going to be potentially, you know, somewhat of a boon to government contractors in the DC area.
Showing 121–140 of 172 · page 7 of 9
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