Tuesday, March 17, 2009
Musical Contracts
Perhaps I need to start working on my singing and acting skills for my next contract negotiation.
Green Eggs and Ham
I had breakfast with my kids at my parents' house this morning before work. My mom had a tradition of fixing a green breakfast on St. Patrick's Day when I was growing up, and she invited us over this morning to pass that along to my kids. They still talk about the green breakfast they had two years ago when they stayed with my parents while my wife and I were in Mexico for our 10th anniversary, so they were excited to go. Mom served eggs, ham, milk, grapes, and muffins. Everything but the ham was green. We had a nice meal, then my mom went to find Green Eggs and Ham while I headed off to work in my green Notre Dame shirt (St. Patrick's Day is a great day to be a ND alum).
Thanks, Mom!
Thanks, Mom!
Monday, March 16, 2009
Negotiating against myself
I've been heavily involved lately with a significant set of contracts with one of the world's largest IT companies. This company is moving into a new market segment and is partnering with us as an OEM distributor of our software, bundled with their offering.
On Friday afternoon, we were down to just one major issue, indemnification. The partner wanted to use their big name as justification for our offering more indemnity coverage, but we had explained to them that we had other "big" OEM partners, too, and that our coverage should be tied to the revenue generated by the deal. I thought we had reached a compromise position that would offer them less protection than they wanted, but extra protection in case a certain class of claims was brought--a class of claims they were worried about, but one that we thought was very unlikely to occur.
Imagine my surprise when their attorney called me back to say that his business folks had heard that my company would offer more indemnification, if pressed. The sales director had learned of our absolute bottom-line position and went behind my back to leak this information to the partner with the express intent of getting me to cave. His oft-repeated mantra is "Let's just get the deal done," as if the only function of legal is to kill good deals. He cares nothing about the interests of the company, just his team's sales and commission figures.
I had a tense conversation with my legal counterpart as I assured him that what he had heard was not my company's official position. In the end, I prevailed and they accepted our lower indemnification, but I was very angry that my own colleague would jeopardize the deal and the terms on which it would be consummated to pursue his own agenda. I like being involved in strategic revenue deals, but it is frustrating that my most difficult conversations are usually with my company's own salespeople. For that reason, I sometimes think it would be better to be in a position that was less sales-facing, like drafting inbound engineering development agreements, for instance.
On Friday afternoon, we were down to just one major issue, indemnification. The partner wanted to use their big name as justification for our offering more indemnity coverage, but we had explained to them that we had other "big" OEM partners, too, and that our coverage should be tied to the revenue generated by the deal. I thought we had reached a compromise position that would offer them less protection than they wanted, but extra protection in case a certain class of claims was brought--a class of claims they were worried about, but one that we thought was very unlikely to occur.
Imagine my surprise when their attorney called me back to say that his business folks had heard that my company would offer more indemnification, if pressed. The sales director had learned of our absolute bottom-line position and went behind my back to leak this information to the partner with the express intent of getting me to cave. His oft-repeated mantra is "Let's just get the deal done," as if the only function of legal is to kill good deals. He cares nothing about the interests of the company, just his team's sales and commission figures.
I had a tense conversation with my legal counterpart as I assured him that what he had heard was not my company's official position. In the end, I prevailed and they accepted our lower indemnification, but I was very angry that my own colleague would jeopardize the deal and the terms on which it would be consummated to pursue his own agenda. I like being involved in strategic revenue deals, but it is frustrating that my most difficult conversations are usually with my company's own salespeople. For that reason, I sometimes think it would be better to be in a position that was less sales-facing, like drafting inbound engineering development agreements, for instance.
Thursday, February 26, 2009
Deleveraging
What a reversal of course! Just last year, my mailbox was inundated with offers for new credit cards, including from American Express (my wife has an AmEx, but I don't). Now, however, comes the news that AmEx is paying some of their customers $300 to pay off balances and close their accounts. I guess they're targeting customers that are at a higher risk of default, figuring maybe with some incentive AmEx can avoid being one of their creditors when the inevitable defaults follow. A brave new world, indeed.
Friday, February 20, 2009
Temples
A couple of weeks ago, I had the chance to enter two temples on the same day. In the morning, I was with my sister, her husband, and other family members and close friends as their daughter was sealed to them for time and eternity in the Salt Lake temple. What a beautiful ceremony that was! I was so grateful my sister and brother-in-law were blessed to find a selfless birth mother who would entrust her daughter to them, and I am sure they will try hard to be the best parents they can be, and to raise her up in light and truth.
Then, that afternoon, I was able to return with my children to the Draper, Utah temple, which has not yet been dedicated, for a tour. I was able to explain to them about the purpose of temples and what I had done that morning.
I asked each child what their favorite part of the temple was, and then why.
S: "The bride's room. It was so beautiful, and I could imagine myself in there, the center of attention, getting ready to be married."
J: "The room with all of the chandeliers and lights [Celestial room], because it is so beautiful and makes me think of being with Heavenly Father.
L: "The pond." Why? "Because it had water and all of those cows." I surmised that she was referring to the baptismal font, held up by carvings of twelve oxen representing the twelve tribes of Israel.
Anyway, after I came home that night, while contemplating my gratitude for my own family and temples that seal us together as families and allow us to commune more closely with Diety, I wrote the following:
God, who guarded ancient Israel
With a cloud and shining flame,
Once again shall keep His people
In a house built to His name.
In the tops of holy mountains
Is His habitation raised.
Come, ye children of the promise,
Enter in and sing His praise.
May our cov'nants be recordedl
Seal us, Lord, beyond the veil,
Bound by sacred priesthood power,
Though our mortal flesh should fail.
Then, with children linked to fathers,
Mighty Michael at the head,
May we gain again thy presence,
Father, Lord of quick and dead.
Then, that afternoon, I was able to return with my children to the Draper, Utah temple, which has not yet been dedicated, for a tour. I was able to explain to them about the purpose of temples and what I had done that morning.
I asked each child what their favorite part of the temple was, and then why.
S: "The bride's room. It was so beautiful, and I could imagine myself in there, the center of attention, getting ready to be married."
J: "The room with all of the chandeliers and lights [Celestial room], because it is so beautiful and makes me think of being with Heavenly Father.
L: "The pond." Why? "Because it had water and all of those cows." I surmised that she was referring to the baptismal font, held up by carvings of twelve oxen representing the twelve tribes of Israel.
Anyway, after I came home that night, while contemplating my gratitude for my own family and temples that seal us together as families and allow us to commune more closely with Diety, I wrote the following:
God, who guarded ancient Israel
With a cloud and shining flame,
Once again shall keep His people
In a house built to His name.
In the tops of holy mountains
Is His habitation raised.
Come, ye children of the promise,
Enter in and sing His praise.
May our cov'nants be recordedl
Seal us, Lord, beyond the veil,
Bound by sacred priesthood power,
Though our mortal flesh should fail.
Then, with children linked to fathers,
Mighty Michael at the head,
May we gain again thy presence,
Father, Lord of quick and dead.
Thursday, January 29, 2009
Tighter lending standards
No wonder no one can get a loan. It seems lending standards are getting tighter at nearly every bank these days.
Congratulations, Wendy!
I just got the happy news that my sister and her husband have finalized the adoption proceedings for their precious little girl. I'm so happy for them and am sure that they will continue to be good parents, and I wish them all the best with the hundreds of sleepless nights yet to come.
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