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ASSOCIATES The zeros matter I BY B ILL ROGERS t wasn't a briefcase full of cash that John Piasta was carrying down the street but it was still very precious cargo and made for a nerve-wracking stroll. "I was delivering a certificate for $750 million worth of notes," recalls Piasta, who is an associate with Bennett Jones LLP in Cal- gary. "When you walk through down- town with that in your bag, you hope you don't slip and fall. And you don't want to spill coffee on it. That's your biggest fear." Specializing in public financings, mergers, and acquisitions, Piasta says even though most deals are essentially the same in terms of the legal work re- quired, when the sums of money get big, the atmosphere changes. "The ze- ros matter," he says. "True, whether it's a $6.9-billion deal or a $50-million deal, the steps are pretty much the same. It's the same level of legal intricacy. But it's natural that when there are nine zeros as opposed to five, there's a different level of pressure." Big deals — and he's been on several multi-billion dollar ones — also bring special rewards. "They're ex- citing," he says. "When the cheque gets handed over, it's a rewarding feeling to know you've been involved in something fairly large and impor- tant. And it's great deal or a $50-million deal, the steps are pretty much the same. It's the same level of legal intricacy. But it's natural that when there are nine zeros as opposed to five, there's a different level of pressure." 16 APRIL 2008 www. C ANADIAN mag.com "True, whether it's a $6.9-billion to get your name out there in the news. That's something you don't see with the smaller deals." Of course, working on gargantuan transactions requires early mornings and late nights. "We're in the service industry," Piasta notes. "You're serving your clients on their time restrictions. John Piasta says working on deals worth billions of dollars add a little extra zing to your practice.