Signs of Life in the Dead of Winter

You know that feeling (at least those of you in varying climates) when the first flower appears. When the temperature first breaks 50. When the birds are singing. You know it’s Spring. Well, unfortunately we are still two months away from any of that here in the currently frigid Northeast. But in the last few weeks, I see signs of life in the business world that is having a positive impact on my outlook (although not my Outlook!).

It’s almost like after 9/11. Whoever you spoke to, they would ask, “Are you OK? Did you know anyone effected?” Nowadays they say, “How are you holding up in all this craziness?” My answer: working harder to stay the same. Clearly the reverse merger and PIPE worlds are down. But yet we are keeping busy with the many other things we are good at, albeit less known for, and thing have noticeably picked up in the last few weeks. Private placements for private companies, for example, are busy. We are dealing with issues in the aftermath of major acquisitions (yes we do a good amount of traditional M&A). Several representations relating to fallout from the evergreen requirement and other changes to Rule 144. And of course litigation remains strong, although the Wall St. Journal yesterday reported that litigation has not grown as it often does in down times because many simply don’t have the money to pursue even valid claims.

So yes, I come to work each day and am glad to be busy. Would I love thing to pick up more? Absolutely. Will they? Absolutely. When? Well, whoever can answer that should get very very rich.

We may not all make it through this. But if we all work harder, take nothing for granted, focus on maintaining those friendships and relationships that we may have taken a little for granted, cast a little wider net in looking for new opportunities, each of us has that chance to remain standing when things finally do turn around.

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