Fri.Sep 29, 2023

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Startup Failure

Harvard Corporate Governance

Posted by Elizabeth Pollman (University of Pennsylvania), on Friday, September 29, 2023 Editor's Note: Elizabeth Pollman is Professor of Law and Co-Director of the Institute for Law and Economics at the University of Pennsylvania Carey Law School. This post is based on her recent paper forthcoming in the Duke Law Journal. Related research from the Program on Corporate Governance includes What Matters in Corporate Governance?

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Letterboxd, Online Haven for Film Nerds, Gets a New Owner

NYT M&A

Two designers from New Zealand built a wildly popular social network for movie buffs. Now, they’re cashing in (and sticking around for the sequel).

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Trending Sources

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Weekly Roundup: September 22-28, 2023

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, September 29, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of September 22-28, 2023 Who are the new directors? Posted by Subodh Mishra, Institutional Shareholder Services, Inc., on Friday, September 22, 2023 Tags: board diversity , Board of Directors , CEOs , Corporate governance The EU’s New ESG Disclosure Rules Could Spark Securities Litigation in the US Post

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How health systems and educators can work to close the talent gap

Mckinsey and Company

US health systems could address workforce shortages across a wide range of healthcare roles by setting up their own education entities or partnering with postsecondary-education institutions.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Pro Say: A Cheat Sheet For The New Supreme Court Term

Law 360 M&A

The U.S. Supreme Court justices return to the bench on Monday for a new term sure to have an impact, with issues ranging from gun ownership rights in domestic violence cases to the legality of administrative courts and the First Amendment implications of public officials blocking critics on social media.

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There is no ‘one Africa’: How the continent can turn diversity into growth and opportunity

Mckinsey and Company

Africa will shortly be home to the world's largest working age population and a burgeoning consumer class; it’s also rich in natural resources. Despite such human capital and natural resources, Africa’s economic growth and productivity has slowed over the past decade. If nations across the continent deploy their diverse strengths, it could help reimagine Africa’s growth and lead to greater sustainability and prosperity for everyone, write Olivia White and Mayowa Kuyoro in World Economic Forum.

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Benchmarks for startup revenue growth

Equidam

One of the hardest parts of building a truly innovative company is understanding what success looks like. Startups are unconventional by nature, so what makes for a useful comparison? Which metric should be your north star to see if you are on track? The most obvious measure of growth is revenue, and in this article we’ll look in detail at what ‘fast revenue growth’ looks like, what is normal, and at which stages of development the fastest growth happens.

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Avoiding The Ethical Pitfalls Of Crowdfunded Legal Fees

Law 360 M&A

The crowdfunding of legal fees has become increasingly common, providing a new way for people to afford legal services, but attorneys who accept crowdsourced funds must remember several key ethical obligations to mitigate their risks, say Hilary Gerzhoy and Julienne Pasichow at HWG.

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Paris prosecutors probe Arnault deals with Russian businessman

Financial Times M&A

A lawyer for the LVMH owner denied the allegations, calling them absurd and groundless

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WilmerHale, Fenwick Serve Up $103M Blue Apron Deal

Law 360 M&A

Fenwick & West LLP-led food delivery company Wonder Group has agreed to purchase Blue Apron for approximately $103 million, the meal kit purveyor said Friday.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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Why Meal Kit Maker Blue Apron Shares Are Skyrocketing Today

Benzinga

Meal kit company Blue Apron Holdings Inc (NASDAQ: APRN ) shares are skyrocketing after it entered into a definitive merger agreement to be acquired by food-delivery firm Wonder Group , a company founded by entrepreneur Marc Lore. Blue Apron stockholders will be entitled to receive $13.00 in cash per share, representing an equity value of approximately $103 million.

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Lighter Capital's Biannual Company Offsite: Learning, Laughter, and Unforgettable Moments

Lighter Capital

At Lighter Capital, we understand that a strong, cohesive team is at the heart of our success. Every year, our biannual company offsite provides us with a golden opportunity to come together, learn, share, and create lasting memories as colleagues. This year's three-day adventure was an exceptional blend of work and play, and it's time to revisit the highlights that made it truly remarkable.

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Bowman Consulting Buys Excellence Engineering - What's On the Cards?

Benzinga

Bowman Consulting Group Ltd (NASDAQ: BWMN ) penned a deal to acquire Tulsa, Oklahoma-based Excellence Engineering, LLC , for an undisclosed amount. Excellence Engineering, built by the current president and CEO Deyona "Dee" Hays, is a full-service provider of engineering, procurement, project management, and automation services to clients across industrial, electric vehicle, petrochemical, and hydrogen industries.

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Breaking Barriers: Overcoming Challenges in Marketing Your Business for Sale

Sun Acquisitions

Selling a business can be a daunting task, filled with its own set of unique challenges. One of the critical hurdles lies in effectively marketing your business for sale. The success of this endeavor relies heavily on your ability to navigate various obstacles and attract potential buyers. In this blog post, we will explore some common challenges business owners face when marketing their businesses for sale and discuss strategies to overcome them, ultimately ensuring a smooth and successful tran

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Le Monde independence in sight as Xavier Niel’s plan progresses

Financial Times M&A

Billionaire to place shares bought from Czech tycoon Daniel Křetínský in foundation by year end

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Comment on The Scam of Racial Discrimination by Appraisers by Term Limits

Appraisers Blog

In reply to Baggins. It should be presented to the ASC that term limits be implemented for government agencies to weed out bad actors that use the agency as a cash slush fund to pay themselves a high salary now for 30 Years. Has anyone written this letter to the ASC with the supporting proof, we all know is publicaly available also written about by Jeremy and others.

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How to Value an Optometry Clinic

Peak Business Valuation

Optometry clinics provide medical help for patients with concerns about their optical health. This generally includes examining, diagnosing, and treating eye diseases, injuries, and disorders. Optometry clinics may also prescribe and sell contact lenses and eyeglasses. In recent years, the optometry industry has seen healthy growth. According to IBIS World , this industry generates over $4 billion in revenue each year.

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Comment on Leaving the Appraisal Profession by Pierce Blitch III

Appraisers Blog

In reply to Baggins. This is still a work in progress. Boots on the ground appraisers should and will have more input as things progress. As I previously stated, this will probably not roll out until mid 2025 and there will be many changes and improvements in the meantime.

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Womack Speaking at Lane Gorman Trubitt’s 2023 Controllers’ Roundtable

Auto Dealer Valuation Insights

Scott A. Womack, ASA, WAFF will be speaking at Lane Gorman Trubitt’s 2023 Controllers’ Roundtable on October 19, 2023, in San Antonio, Texas. His session will cover auto dealership valuations and is titled “Winding Road to Blue Sky Value: Important Considerations in Auto Dealer Valuations and Pitfalls to Avoid.” Scott leads Mercer Capital’s Auto Dealership Industry Team.

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Comment on Mortgage Application Volume Nearing Historic Low by Baggins

Appraisers Blog

In reply to Johnny Q. Witnessed similar behavior at Costco the other day. Two ladies, walking with those pointy duck bill type of masks. Swings by sample plate, reaches with bare hand, takes sample. Lifts mask up, leans head back, puts sample in mouth, puts mask back on while she’s chewing the sample. We were like, frigging gross, the mask is doubling as a napkin.

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How to Automate Monitoring and Reporting for IT General Controls

Audit Board

What are the benefits when you automate monitoring and reporting for IT general controls? Tania Petrina (Partner, GRC Technology at Ernst & Young ) moderates a lively discussion between Solene Alos (Senior Manager, GRC Technology at Ernst & Young), and Anthony Ferrentino (Manager, GRC Technology, Ernst & Young) that covers: Three key IT processes that impact automated controls testing The organizational benefits when you automate monitoring and reporting IT general controls AuditBoar

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A Shortcut for Tax Savings

Auto Dealer Valuation Insights

As the pace of RIA transactions continues, one topic we haven’t seen much coverage of is taking advantage of a clever tax strategy that will both maximize a seller’s charitable giving and minimize their taxes on the transaction. Taxes aren’t usually the primary driver in making large gifts to a charity, but a little foresight and planning offers flexibility for the donor, yields more gift per.

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10 Ways to Equip IT Risk and Compliance Teams for Today's Insurance Industry

Audit Board

In today’s data-driven business environment, ineffective cyber risk management can pose a serious threat to achieving strategic business objectives. According to PwC ’s 2023 CEO Survey, cyber risk ranks among the top three areas where insurance CEOs feel most financially exposed , in addition to inflation and economic volatility. For insurance organizations, staying ahead of cyber risk should be a top priority to safeguard business growth and expansion opportunities.

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The Winding Road to Blue Sky Value

Auto Dealer Valuation Insights

Over the next month, my colleague David Harkins and I will present to three groups regarding auto dealer valuations: Auto CPA Group, ASA Philadelphia Chapter, and Lane Gorman Trubitt’s Controllers Roundtable. The focus of these presentations will include important considerations in auto dealer valuations, from applicable valuation methods to value drivers in a store valuation to special.

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Finding the Right IT Services Firm to Merge or Acquire  

IT Valuations

As you continue to grow your IT services firm you may be considering the possibility of expanding through a merger or an acquisition. Even though a merger or acquisition is one of the most unnatural acts in business, finding the right IT firm to merge with or acquire can be a game-changer, opening up new avenues of growth and enhancing your competitive edge.

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Voyager Aviation Gets $801M Aircraft Fleet Sale Approved

Law 360 M&A

A New York bankruptcy judge has given aircraft leasing company Voyager Aviation the go-ahead to sell its aircraft for more than $801 million to the stalking horse bidder in its Chapter 11 case.

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Comment on FNMA Continued Effort to Get Rid of Appraisers by Michael B Roper

Appraisers Blog

Fannie Mae continues their effort to get rid of Appraisers. This lack of transparency speaks volumes about their true intention.

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Zynerba Pharmaceuticals Stockholders Reminded to Tender Shares Before 5:00 PM New York City Time, on Tuesday October 10, 2023

Benzinga

DEVON, Pa., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Zynerba Pharmaceuticals , Inc. (NASDAQ: ZYNE ), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for orphan neuropsychiatric disorders, today released the following letter to stockholders concerning the pending tender offer by Harmony Biosciences Holdings, Inc. ("Harmony").

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Comment on FNMA Continued Effort to Get Rid of Appraisers by Jacob Landfair on Facebook

Appraisers Blog

At first I saw other appraisers posting and claiming that FNMA reported them to the state for frivolous issues. I thought to myself “surely something more serious must be wrong with their appraisals” and dismissed concern. Then it happened to me! Luckily the state dismissed it completely but it was a threat to my career for 20 years! It was a condo in the city that had a private roof top deck, however FNMA wanted subject compared to other lower selling condos that don’t have such an amenity.

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Renovaro Biosciences and AI Health Company GEDi Cube Sign Definitive Agreement to Combine

Benzinga

The combined company aims to accelerate precision, personalized medicine for longevity powered by mutually reinforcing AI and biotechnology platforms for early diagnosis, better targeted treatments, and drug discovery AI technology products projected to be in marketplace in 2024 Phase 1/2 human studies of pancreatic cancer and other solid tumors with poor longevity projected to begin second half of 2024 LOS ANGELES, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Renovaro Biosciences Inc.

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Pendragon: what should investors make of the three-way M&A pile-up?

Financial Times M&A

Takeover offers for auto dealership are hard to compare

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3D Systems Issues Statement on Stratasys' Pursuit of Strategic Alternatives

Benzinga

3D Systems Willing to Amend Current Binding Proposal to Include 60-Day Go-Shop Period to Provide Immediate Value Certainty for Stratasys Shareholders While Also Allowing Stratasys' Board to Pursue its Strategic Alternatives Process 3D Systems Binding Offer Scheduled to Expire October 5 ROCK HILL, S.C., Sept. 29, 2023 (GLOBE NEWSWIRE) -- 3D Systems (NYSE: DDD ) (the "Company") today issued a statement regarding Stratasys Ltd.'s (NASDAQ: SSYS ) ("Stratasys") announcement that it has comm

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Comment on FNMA Continued Effort to Get Rid of Appraisers by Pat Turner

Appraisers Blog

Another terrific presentation Jonathan. I attended the last Virginia Appraisal Board meeting and reminded them that Fannie Mae was a private entity and that they had to follow rules just like everyone. Because they are Fannie Mae does not make them all-knowing and omnipotent! Inadequate complaints go nowhere I am happy to say. Everyone should appear in front of their boards and demand fairness and accountability!

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Dundee Corporation Announces Acquisition of Shares of Reunion Gold Corporation

Benzinga

TORONTO, Sept. 29, 2023 (GLOBE NEWSWIRE) -- In accordance with regulatory requirements, Dundee Corporation (TSX: DC ) ("Dundee") announces that its wholly owned subsidiary, Dundee Resources Limited, has acquired 6,520,000 common shares ("Shares") of Reunion Gold Corporation (the "Issuer") under its recently completed bought deal offering at the price of C$0.46 per share for aggregate consideration of C$2,999,200.00.

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