Without question, a revitalized real estate economy greatly benefits New York. As we have learned all too often, however, a frothy market can produce disastrous results and unintended consequences when buyers have more money than sense.
Some hedge fund managers feel they are above appearances, if not the law. Some investors believe prostitution isn't a big deal, too. But there's a large cohort of investors that won't go near a hedge fund manager with a reputation for using prostitutes.
What is due diligence? What does it really involve? Larger companies typically hire lawyers, bankers and accountants to help with any due diligence. As a small business owner, you may not have this luxury, and may have to do this work yourself or with limited resources.
In mergers and acquisitions, due diligence is an overused and misunderstood idea. Some folks say they have to "do" diligence, as if it was an item in an M&A checklist, instead of an integral part of the process.