He warns them that no matter how many precautions they take, including allowing only independent directors to vote on the terms, and ensuring competing bids were considered, the company will be sued, probably within 48 hours.

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He rightly warns them not simply to trust university financial-aid offices, which often have cozy relationships with specific lenders.

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"If she insists on trying to succeed me, there's no question the boards will do what I ask them, " he warns.

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But he warns that employers can still cross lines that will get them into legal trouble.

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If your spending needs or goals exceed the money you are likely to have for funding them, then you are implicitly leveraged, he warns.

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But he warns against any potential high flyers thinking their moneymaking ideas could make them too rich, too quick.

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