While visiting the United States last week I was privileged to be invited to a very exclusive meeting of Wealthy Businessmen. These people (32 in attendance, 35 invited) gather every year in total seclusion. The rules for membership are simple.
· One has to be a self-made billionaire.
· All businesses and wealth must be legal.
· Only men are allowed.
· Secrecy and discretion must prevail (There were no cameras, recording devices, computers, cell phones, tablets, or smart phones.)
· The invitation is only good for one year and it’s voted on the last hour of the gathering. (I was asked to leave before this took place)
I was invited for only one purpose – to discuss the opportunities currently available in Panama. The primary moderator had my resume of experience as a turn-around specialist and they knew I have lived in Panama for the past eight years.
Their interests are unified; they want to purchase businesses with good cash flow and at least double digit annual profits. (EBIT)
Real Estate does not interest them unless it is necessary for the operation of the business. (Example: a farm, plantation, or dairy). These people were very adamant; they do not develop or build!
Some examples that would be of interest:
· Banks with multiple branches
· Casinos ( stand alone)
· Upscale hotel chains
· Cell Phone companies
· Internet Providers
· Mortgage companies
· Food or drink processors (includes dairies and fish plants)
· Grocery chains
· Wholesale grocery suppliers
· Distiller or winery/distribution
· Sugar refinery/distributor
· Rice processor/distributor
· Petroleum distributor
· Energy provider (utility companies)
· Alternative energy provider
· Hard goods Manufacturing
· Radio and Television chains
These are just a few of the ideas they suggested to pursue. The Price tags on these businesses have no ceiling but they must be priced according to international business standards and acceptable accounting practices.
The minimum submission is Twenty-Five Million dollars!!!
· NOTE: as a sidebar, I was instructed to review all proposals, submit a written opinion as to value, and to forward those that pass my inspection to my intermediary assigned me before I left. Once he reviews and passes on the offering, he submits it to a committee of the group. (Members who have been active with the group for at least five years.) They make the final decision to proceed or abort.
· FORMS OF PAYMENT: Cash, Corporate Bonds Government Bonds, publicly traded common stock, publicly traded preferred stock and debt instruments created for expressly for said transactions.
FYI, here is the breakdown of the nationalities involved: 4 German, 1 French, 2 Swiss, 1 New Zealand, 1 Brit, 2 Mexico, 2 Brazil, 5 Canadians, 1 Israeli/American, and 13 Americans.
ISTHMUS TRADER HAS BEEN REACTIVATED
Isthmus Trader is also providing bi-lingual sales and marketing services to businesses in Chiriquí and Panama City. For further information, contact Robert Hatting (507) 6-809-4510.