Thursday, November 13, 2014

The newer universe of billion-dollar transactions

Did you ever think that the day would arrive when "billion" became a common household word?

...When an Oklahoma oilman would pay a nearly  $1  billion settlement to his ex-wife in a divorce case?

... When five global banks would be fined $4.25  billion for deceptive practices?

...When Warren Buffett would buy  Duracell  batteries from Proctor & Gamble for $4.7 billion?

These lofty Midas-like  events are regularly showing up as just  another day at the office.

But when Harold Hamm, the  CEO of  a big oil company, Continental Resources Inc.,  lays out his golden fleece to settle  a  divorce, even  People magazine decided to put it in context, noting that  Donald Trump only paid Ivana $25 million to send her on her way.  Tiger Woods' divorce cost him $100 million. In today's business world, beer money.

In an email to People magazine, Hamm, who is said to be worth $14 billion (as of this afternoon, commented, seemed quite pleased with how it all turned out.   "This is a fair and equitable  outcome to the case, " he wrote.  "Out of respect for my family we have no further comment on the matter."

So drill, baby,  drill!

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