“Project Falcon”: Financial Expression of the Day

Like Maxwell Smart's concealed phone, a shrewd deal-man will conceal his "project"

Like Maxwell Smart’s concealed phone, the spying deal-man will conceal his “project”

“Project Falcon”, noun phrase, a characteristic code name for any confidential proceeding, such as a potential merger, take-over, leveraged buy-out, or other financial transaction. Usage Note: When bankers are working on their latest deal, rather than talk about the companies involved directly, they like to make up a code name to use in lieu of the actual situation. So on their computer hard drive when they’re working on a deal for say,  Sears acquiring Target, they’ll name that engagement and file, for example, “Project Falcon”. In the rarefied world of private equity, investment banking and even asset management, the protagonists like to think of themselves as tough, street smart, military-like combatants.  They fancy themselves generals on a field of battle with troops arrayed and lives at stake. One manifestation of this pathology comes in the form of project code names.  Not unlike Military Operation code names, project code names have a sophisticated, covert ring to them.  The primary difference is, there’s nothing so serious at stake as the financiers would like to believe.  Continue reading