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not surprising that the port chimed in on – and criticized – the EPA’s plan. In particular, the port objected to a CDF, or confined dispos- al facility, at Terminal 4, a 262-acre area with seven berths. “We are not interested in taking on long-term management of a facility that our neighbors adamantly oppose, and one with uncertain economics and risks,” the port says in a Sep- tember 6 press release. “EPA’s preferred alternative is the product of illusory goals for cleanup and wishful thinking related to time and costs and is not a sensible, reliable solution.” LWG, which sponsored a 950-page report on the superfund – a report researched and authored by Windward Environ- mental, Kennedy/Jenks Consultants, Integral Consulting, and Anchor QEA – seemed perturbed that the EPA alleg- edly deviated from an agreed upon, collaborative process to reach its own conclusions. “EPA’s preferred alternative is the product of illusory goals for cleanup and wishful thinking related to time and costs and is not a sensible, reliable solution,” says LWG. Whether you’re a buyer or a seller, one of the most effective outcomes that a consultant can provide is bringing as many qualified opportunities to the table as possible. That means a lot of phone calls, a lot of emails, and a lot of vague conversations. We provide enough information to assess whether there is a viable fit, then we report back to the client, who ultimately makes the decision on whether to pursue the particular lead. We do not reveal the identity of our client until they have approved the discussion. Restricting the contact list before we even know if there is interest in the conversation, or requiring a review process before what essentially amounts to a “cold call,” does not help our clients close deals. Your consultant wants to find you the best possible opportunities, and just as you are more than willing to provide creative solutions to help your clients achieve their goals, let your own consultants “wow” you with imaginative thinking in areas within their expertise. JAMIE CLAIRE KISER is Zweig Group’s director of M&A services. Contact her at jkiser@zweiggroup.com. “Firms are very willing to pay a premium for getting what they believe is exactly what they want.”

JAMIE CLAIRE KISER, from page 5

out on a match made in heaven! Plus, if you have too many requirements for the target firm, I can assure you that it is highly unlikely that the firm will be a good deal financially. Firms are very willing to pay a premium for getting what they believe is exactly what they want. And sometimes that’s too much. We try to convince our clients to walk the fine line of having a strategy, but also of being open to pursuing unique opportunities as they arise. There are so many firms out there and so many synergies to be had – look for ways to be flexible when you’re presented with something novel that could be a total game-changer for your firm. Another area that we often push back on is the degree of approval needed from the client before we reach out to firms. Requiring client approval to have an overview or feeler call with a potential firm is a great example of an unnecessary review process that slows down your transaction. “If you won’t go on the blind date, you may miss out on a match made in heaven!”

SUPERFUND, from page 7

many other obligations, must appoint an EPA administra- tor, a move that could potentially stall the Portland project for years if the record of decision is not in place before the new administration moves into the White House. “This is one of the largest economic and environmental is- sues facing Portland,” Von Burg says. “The stakes are high.” Once the record of decision is in place, the engineers and planners can move in and begin designing and implement- ing the plan. “That’s the next phase of this whole thing,” Von Burg says. Other mega waterway sites being overseen by the EPA in- clude the Hudson River in New York, the Lower Passaic in New Jersey, and the Lower Duwamish in Washington State. The Lower Willamette River in Portland has been an indus- trial waterway for over a century, and has been redirected, straightened, filled, and deepened, and its shores have been raised, filled, stabilized, engineered, and armored to accom- modate commercial activity. A working harbor that handled 8.3 million in total tonnage last year, the Port of Portland supports thousands of jobs and generates millions in state and local taxes. Major tenants include Schnitzer Steel, Geor- gia-Pacific, and Del Monte Fresh Produce. With so much to gain, and perhaps to even lose, with a site-wide cleanup, it’s

EPA ALTERNATIVE I AT A GLANCE ❚ ❚ Dredge volume: 1.8 million cubic yard ❚ ❚ Dredge area: 150 acres ❚ ❚ Dredge/cap area: 17 acres

❚ ❚ Cap area: 64 acres ❚ ❚ Enhanced natural recovery: 59.8 acres ❚ ❚ Monitored natural recovery: 1,876 acres ❚ ❚ Years to build: 7

❚ ❚ Years to monitor: 23 ❚ ❚ Cost: $746 million

Source: EPA

THE ZWEIG LETTER October 10, 2016, ISSUE 1171

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