Manager Interview
... would be breaking confidentiality regulations set forth by the firm if he would to mention its progress. His loyalty to the firm is unbreakable. He did state that a recently completed project he was involved and supervised with, is the Initial Public Offering (IPO) of an oil distributing firm named TEPPCO MLP. Through this interview, Almin has provided steps and procedures that had to be followed by all parties involved in the IPO of TEPCCO, as well as a description of his position as project manager and leader. He states that all firms and banks involved in financial transactions have to follow certain steps and procedures in order to complete the transactions, trades and sales, and it is his job to supervise and delegate responcibilite to members of Lehman Brothers and the partners involved. First I asked why would a company need to have an IPO and who is the one that makes the decision. IPO means Initial Public Offering. This basically means that a firm is willing to sell, or issues common stock, or acquires debt for cash. The firm’s CEO, CFO, President, VP, and owners are the ones who make the decision for an IPO, through research, analysis and sometimes, internal classified information or knowledge. Like said before Almin further emphasizes, that the most crucial reason why firms have an IPO is because of the need for money/cash for the firm. This is one mean to support the desired growth of a firm. In this case, TEPPCO is, already a well established company with large amount of assets and equity. You can have all the assets and equity in the world, but in order to grow, you must have money or cash, which is the biggest need of a firm that is looking for. The two ways a firm can grow, is through acquisition of another company, which means buying out that company, or organic growth, which means internal growth. When a company or a firm has an IPO it is basically selling parts of the company in the form of debt to the buyer. Understanding all the needs of firms and their reason for doing deals is one of the most important aspects of Almin's duty. TEPPCO has a lot of business in the pipeline. Through its downstream segment, TEPPCO transports refined petroleum products through more than 5,500 miles of pipeline between Texas and New York. Through its Midstream segment, the company transports more than 2.4 billion cu. ft. of natural gas a day through more than 1,900 miles of pipeline in Colorado, New Mexico, Texas, and Wyoming. Its upstream assets include more than 3,800 miles of crude oil pipeline. TEPPCO owns natural gas liquid fractionation facilities in Colorado. As far as Almin’s role in representing and managing this particular involvment for the Lehman Brothers firm, it is to stand and delegate between the investor, who is the person buying the stock, and between the initial firm that is offering the stock through the IPO, obviously TEPPCO in this case. His role as the VP and project manager is to fulfill all legal aspects of the transaction that are required by law, as well as requirements by the firm and their standards. His duty emphasizes, that it is also crucial to make sure all sides do what they are supposed to do, with respect to guidelines and law standards. There is a particular lawyer section that Almin oversees which presents and exposes the legal boundary of the transaction. A particular department that strictly concentrates on law aspects of the transaction has the ability to impose regulations required and standards on the transaction, which stand within the limits of the business law. This department, which Almin oversees with assistants, is one of the major steps in any firms IPO offer. The lawyers of firms invlolved, must follow a strict set of rules and regulations. Almin’s department personnel and lawyers, who aid in the transactions, must have a draft summery of the initial firm’s offering, which they present to a commission know as...