Taking costs out in and of itself

English translation: Meaning: that the fact of taking costs out of the company's structure does not justify by itself...

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English term or phrase:	Taking costs out in and of itself
Selected answer:	Meaning: that the fact of taking costs out of the company's structure does not justify by itself...
Entered by:	MikeGarcia

18:45 Aug 27, 2006

English language (monolingual) [PRO]
Bus/Financial - Management / bank merger

English term or phrase: Taking costs out in and of itself

Most banking mergers are, at their heart, cost plays. This is interesting because the basis of competition in financial services – that is, the ability to earn superior sustainable financial returns – is all about customer loyalty. It was Royal Bank of Scotland’s ability to use technology to better satisfy customers, and thereby win a larger share of wallet, that made this deal so successful. Taking costs out in and of itself is generally not a compelling enough reason to justify merger premium.
By contrast, the recent wave of media combinations has consisted mostly of revenue plays, predicated on nebulous revenue synergies that in most cases have not panned out. Vivendi – which we cited in chapter 2 for its faulty investment thesis in buying media properties – is only the most egregious example of faulty due diligence and exaggerated estimates of synergies

Većina bankarskih fuzija su, u svom srcu, igre troškova. To je zanimljivo jer se temelj tržišnog natjecanja u financijskim uslugama – odnosno, sposobnost zarade superiornih održivih financijskih profita – uglavnom vrti oko odanosti potrošača. Sposobnost korištenja tehnologije kraljevske banke Škotske kako bi bolje ugodila svojim korisnicima, a time osvajanje većeg dijela lisnice, bilo je ono što je napravilo ovaj posao tako uspješnim. Gledanje troškova iznutra i izvana po sebi nije dovoljno snažan razlog da opravda premiju fuzije.
Za usporedbu, nedavan val radiotelevizijskih kombinacija se sastojao uglavnom od poigravanja prihoda, utemeljenim na nebuloznih sinergijama prihoda koje su u većini slučajeva bile neuspješne. Vivendi – koji smo naveli u 2. poglavlju zbog pogrešne investicijske postavke prilikom kupnje televizijskih medijskih nekretnina – je samo najupadljiviji primjer lošeg dubinskog snimanja i preuveličane procjene sinergija.

alen botica (X) KudoZ activity Questions: 150 (none open) (5 closed without grading) Answers: 105
Local time: 12:54

Meaning: that the fact of taking costs out of the company's structure does not justify by itself...

Explanation:
"...paying a merger premium".-

Selected response from:

MikeGarcia
Spain
Local time: 12:54

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4 KudoZ points were awarded for this answer

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4 +7

Meaning: that the fact of taking costs out of the company's structure does not justify by itself...

MikeGarcia

Answers

5 mins confidence:

peer agreement (net): +7

taking costs out in and of itself

Meaning: that the fact of taking costs out of the company's structure does not justify by itself...

Explanation:
"...paying a merger premium".-

MikeGarcia
Spain
Local time: 12:54
Specializes in field
Native speaker of:

Spanish
PRO pts in category: 4

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