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
There's a lot of health tech in the DC area that I think could look to those people and say, hey, maybe these are the people that we could benefit from and fill some of the spots that we're trying to fill because of how tight the labor market is already. So I think, you
that's a really interesting thing to me is just to watch you know what's going to change with these people kind of becoming um employable now and you know again looking at what their experience and their skill sets could be and how valuable that could be for some of our clients that's where i'm kind of getting excited in some respects unfortunate for them that they're losing their jobs but maybe fortunate for some of our clients that those people now become employable and potentially valuable for for businesses in the in the coming months and weeks
intro to the question of what do you see on these delayed exits and what should we expect yeah scott i think it's a fascinating question and obviously one that we have a lot of discussions with our private equity group clients about and i think if you kind of peel back some of the pieces the onion
You know, if you think about timing, if investments were made in 2016, 2015, you know, 2013, 2014, sometime in that period, and then you put yourself like five, six, seven years into old period, you run into COVID. COVID obviously disrupts the entire economy and has long-term impacts. You know, three, four, five years out, we're still seeing impacts related to COVID, especially the deal prices.
So, I mean, you know, some of the exits that have happened perhaps didn't happen at the price that the buyer was initially hoping for. They had to make a deal because of whatever reason that might have been out there for them. And then the growth of the company and some of the other things related to that company might have been different than what they would have expected pre-COVID.
And so I think that if you think about what COVID did to the private equity hold period,
I think you're seeing that come through in some of these other things that are being announced in the world related to a longer hold period, maybe some of the sale prices not being where they would have hoped for, expected, and perhaps an appetite for a longer period of a hold period because maybe they're able to kind of fix some of the things that happened during the COVID shock and then really be able to kind of
grow from there and then amplify growth in the future. So I think if you take it back from at least my perspective, a lot of this has to do with kind of the economic shock that COVID brought us to the entire economy.
Yeah, I do think that's true. You know, I think with inflation and like you mentioned, the job environment kind of being where it's at.
you know if we're at a full employment you know world and inflation still kind of is that I clipped above where the Fed wants it to be you know they don't have a lot of other you know levers to pull you know to reduce interest rates would just create more inflation in theory and so I think We'll continue to monitor it.
But I think at some level, too, we have to balance that between the fact that we have full employment is also great for the consumer. Right. And I think if you think about our economy being heavily driven by consumer discretionary spending, you know, that's a big part of why we should continue to think about how do we capitalize on that piece of it and really try to
maybe manage what we can as business owners or private equity fund managers or whoever we are in the ecosystem and try to figure out, well, the interest rate environment is sort of out of my control. But one thing that is in my control is finding the consumers and taking more of the market share from them because they have cash, they're employed, they're out there working.
Let's find a way to get them to spend money in our business as opposed to somebody else's business.
Yeah, I think that's spot on, Scott. I think it just brings you back to really what we were talking about maybe even a year ago or even before that, before any interest rate cuts, when the interest rate environment is a little bit out of your hands, you can find value in other places to really drive even a growth and attraction.
Because I think what I keep hearing from private equity firms is that A assets still trade, B assets may or may not trade, C assets and below, it becomes very, very difficult to trade those assets. So I think you really need to focus on making your business as close to or an asset as possible so that you can find value.
And by doing that, I mean finding opportunities to become more efficient, finding opportunities to really advance your leadership team within that company.
and really finding ways to drive value beyond maybe what the interest rate environment might may create for you you got to figure out what you can actually control and that's typically you know finding opportunities to bring value to those businesses that you own and be able to make them attractive to buyers regardless of the interest rate environment that you might be in
Thank you, Scott.
Yeah, you know, this week has been kind of another crazy week, I'd say, you know, in terms of just things that we have our eye on, you know, and, you know, kind of jokingly, you know, the most exciting part to me was the Luka Doncic trade last Saturday. That kind of shocked me for sure. But, you know, the terrorists obviously receiving a ton of headlines and
I'd say our economists that work within RSM are a little industry agnostic and things of that nature. They're very in-depth in their research and analysis on the impact of tariffs. When I think of it from an industry perspective, it definitely is going to have different impacts to different industries, as one would expect. obviously my industry of choice tends to be healthcare.
Showing 141–160 of 172 · page 8 of 9
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