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Italian food recipes

Italian Food Recipes

Italian food is famous throughout the world for being healthy, delicious and easy to prepare. Catering for a variety of tastes, famous Italian food includes pizza, pasta dishes with a variety of sauces as well as a variety of red meat dishes. Whatever your preferences, you can be sure to find a great Italian dish that you will love.

Mushroom Pesto Lasagna

This is a great dish to allow vegetarians to have a taste of Italy! For best results you should make with fresh egg pasta rather than using dried lasagna noodles. This can be served along with parmesan cheese for best results.

Shrimp Scampi

Getting this recipe right involves cooking the scampi to perfection. This recipe is great with garlic and butter, while serving crusty bread alongside it will ensure that diners have an opportunity to sop up any residual sauce.

Fish Soup with Gremolata

This can be found in different forms and with different regional takes throughout Italy. The seafood you decide to use can vary based on the preferences of the diner, and what is available for you to use at a given time. Usually cooked in white wine, this dish was originates from the Adriatic coast where it first became popular decades ago.

Chicken Scarpariello

This is a dish which is often referred to as being Italian American, translating as shoemakers chicken, the dish comprises of chicken in a lemon sauce. The chicken should be cooked until golden brown and the meal should be served alongside a dry white wine.

Chicken Marsala

This is a unique dish because it looks so elegant that it is suitable for the most sophisticated of occasions, however it is so easy to prepare. The dish is healthy because it is does not use much oil, and the chicken is usually served in a bed of flavored herb rice, alternatively it can also be served alongside potatoes.

Spaghetti and Meatballs

The trick to perfecting this recipe is to use the best possible ingredients you can find and take advantage of them. The quality of chopped tomatoes that you use can really make or break this dish. If you are making the meatballs then you could either opt for beef and veal or beef and turkey; they are probably the most suited to the sauce.

Beef Carpaccio

This dish consists of thin slices of raw beef and is generally served as an appetizer or a starter. The dish was originally conceived in Harry’s Bar in Venice where it has since became popular throughout the world. The variations between Arugula Leaves, lemon wedges and raw beef make the taste so unique.

Zuppa Toscana

This dish consists of turkey sausage, onions, bacon and potatoes. Although not an overly healthy recipe, that does not stop thousands of people around the world naming it their favorite Italian dish of all time. A great aspect of this dish is that it can really be tailored to anyone’s taste, such as changing the ratio of Chicken Broth and heavy cream – or alternatively including or leaving out certain meats.

It basics for an evolving company

It Basics For An Evolving Company

Information Technology, also known as IT, has become a widely-used and all-encompassing term for computer systems that are designed to store, analyze, organize and acquire useful information. When used correctly, IT can be a very useful tool in the business world. The trick is to find IT that makes business simpler rather than more complicated. The following article outlines several criteria you should look for in IT products and the companies that sell those products. If they meet these standards, you will have a much better chance of being satisfied with your investment.

Business Savvy Professionals
Many IT businesses are experts in their field, but completely inexperienced in business. Unless you have the time to earn your own degree in IT you need them to be experts in their field and products, but additional business expertise is helpful because it allows them to evaluate your business needs. Unless they understand what you do, how you do it and why you do it, matching up the best IT solutions with your needs will be a difficult task.

Simple Technology
Bells and whistles can be cool on a car or a T.V., but IT systems are designed for efficiency; not show. The easier it is to use your system, the easier it will be to train new employees and incorporate the technology into your daily business activity. Keep it simple and you will avoid a lot of headaches.

Excellent Customer Support
Good customer support with IT systems goes beyond installing the system and teaching you how to use it. If your business is going to depend on that technology, you need to be able to depend on the IT company that sold it to you for continual service. With so many complex programs being designed every year, occasional bugs are bound to crop up every once in awhile. If a bug knocks out your IT, you will need repairs and other service as fast as possible to get on track again. You might not understand how to build IT systems yourself after reading this article, but at least you have some guidelines to follow as you shop for the right technology.

How to not leave money on the table when raising equity

How To Not Leave Money On The Table When Raising Equity

It starts off like a bad joke, but there is truth in the answer: How much equity do you need to give up when you’re seeking to raise capital? As much as it takes.

There is a price at which your transaction will clear the market. A price that you pay in equity dilution and the price investors receive for the risk they are accepting.

When you go to market with a private placement, do the math upfront to make sure i) you’re providing your investors with an appropriate return, and ii) that you’re not giving away too much equity. To do that, there are six basic steps:

1. Determine a base case forecast for the business.
2. Determine the structure and terms (except for the actual warrant position) of the security you are issuing.
3. Determine the expected enterprise value at the end of the investment horizon.
4. Determine the equity value at the end of the investment horizon.
5. Determine the dollar amount required that results in the targeted IRR.
6. Divide the result you get in step 5 above by the result in step 4. That quotient results in the percent of equity you will need to make available for your investors.

Let’s walk through an example with real numbers so you can see how this all comes together. But first, some assumptions to frame the example:

- You are acquiring a business for $5 million, or 4x the business’s EBITDA of $1.25MM;
- You’ve arranged bank financing of $3MM;
- You are able to invest $500 thousand of your own money;
- The financing gap is $1.5MM; and,
- Your investors will require a 30% IRR.

First you need to determine what your base case is for the business over the next five years. What will you be able to grow the EBITDA to over the next five years – the investment horizon? Lets assume for this illustration that you will be able to grow your business to $1.8MM in five years. Or approximately 7.6% compounded annual growth rate. We’ll also assume that at the end of five years that you’ll still have debt outstanding of $1.2MM (you may have borrowed more to grow your business), and cash of $100K.

Second, you’ll need to determine the terms and structure of the security you will be issuing to your investors (yes, you are issuing a security). Again for illustration purposes, we’ll assume that you will be issuing Preferred stock (the ‘why’ is beyond the scope of this article) in the amount of $1.95MM.

If you’ve noticed that the Preferred issuance is $1.95MM, and not $1.5MM, it’s not a typo. The reason you are issuing $1.95MM is because you, the Sponsor of the transaction, will be investing $450K of your $500K investment alongside the investors. The remaining $50K of your investment will go in as common.

This Preferred issuance will have a five-year maturity, will pay an 8% dividend in cash each year, and will have warrants for some percentage of the common equity of the business; again, the question is how much of the equity?

So, lets look at the math:

- Year 5 enterprise value (or terminal value) is equal to EBITDA times your exit multiple. Lets assume that there is no multiple expansion, so that the 4x you paid for the business is the same multiple for the terminal value. The terminal value $1.8MM x 4, or $7.2MM.

- Equity value is enterprise value, less debt, less preferred, plus cash (unrestricted cash). Therefore, equity value is equal to $7.2MM less $1.2MM (debt), less $1.95MM (preferred), plus $100K (cash), or $4.15MM.

- The IRR your investors are targeting is 30%. Since the investors are receiving 8% of their return in cash dividends, 22% of their return needs to come from the increase in equity value. The math then is $1.95MM (the face amount of the Preferred), times 1.22^5 (that’s 1 plus the 22% in IRR required from the equity build up to the power of 5, which is the maturity of the Preferred). Doing this math results in $1.95 x 2.7027, or $5.27MM.

- From the $5.27MM we subtract the face amount of the Preferred (return the initial investment) of $1.95MM and end up with $3.32MM of equity value that the Preferred investors need to receive in order to receive a 30% IRR (including the Preferred dividend payments of 8%).

- Finally, since we already determined that the expected terminal equity value is $4.15MM, then the Preferred Stock Issuance should end up with 80% of the equity in your transaction in the form of warrants – $3.32MM divided by $4.15MM.

- The remaining 20% of the equity goes to the common equity holder.

So what is the math to you, the Sponsor?

Since $450K of your investment went into the transaction as Preferred, you share in the returns of all the Preferred investors. Your share of the 80% of the equity to the Preferred Shareholders is 23.08% ($450/$1950), or $766K.

Next, since you are the sole common equity holder – the $50K of your total $500K investment – the remaining $830K of equity value ($4.15 – $3.32MM) goes to you for an IRR of approximately 75% (($830/50)^(.2)).

In all, you tripled your money for a blended IRR of 26% – (($766+$830)/$500)^(.2).

There you have it. Private equity pricing on the back of an envelop in six easy steps.