Farrel Fritz

JANUARY 29, 2024

Simry”) was a family-owned real estate corporation with direct ownership and legal title to seven multi-unit residential real properties in Manhattan. With the amount of money at stake, I can imagine a swiftly perfected appeal in Haruvi. But the legal outcome could not have been more different.

Appraisal 59

Appraisal Finance 59

Chris Mercer

OCTOBER 25, 2022

Based on the initial review, there is an apparent difference in the treatment of asset holding entities and operating companies by New York courts. The first look examines conclusions of marketability discounts in statutory fair value cases since 1985 for asset holding companies and operating companies.

Marketability 52

Marketability 52

Peak Business Valuation

MAY 1, 2024

Why Should I Get an Equipment Appraisal for Insurance? Time is of the essence when listening to the same hold music for hours. Since it is a legally backed document, you can use it with third parties like insurance companies. How can I Obtain an Equipment Appraisal for Insurance? Schedule a Free Consultation!

Appraisal 52

Appraisal Start-ups Business Valuation Data Analysis 52

Musings on Markets

JANUARY 17, 2024

That positive result notwithstanding, the recovery was uneven, with a big chunk of the increase in market capitalization coming from seven companies (Facebook, Amazon, Apple, Microsoft, Alphabet, NVidia and Tesla) and wide divergences in performance across stocks, in performance. The solid comeback in stocks, though, came with caveats.

Risk Premium 77

Risk Premium Start-ups Equity Treasury 77

Musings on Markets

JUNE 23, 2023

I will start this post with a couple of confessions. The first is that my portfolio has held up well this year, in a market that has been top-heavy and tech-driven, and one big reason is that it contains both NVIDIA and Microsoft, two companies that have benefited from the AI story. From High Growth to Maturity!

Start-ups 91

Start-ups Marketability Market Capitalization Technology 91

Musings on Markets

SEPTEMBER 19, 2023

At that time, there were some who were suggesting that the company could go public at $50 billion or more, and pricing it on that basis, but reality has caught up with both the company and investors, and this IPO represents vastly downgraded expectations for the company’s future.

Start-ups 102

Start-ups Marketability Technology Equity 102

Benzinga

JULY 24, 2023

The newly acquired mining claims expand ABM's strategic land position to approximately 14,300 acres, a seven-fold increase from its current position of 2,000 acres. ABM now holds a total of 743 placer claims over 14,320 acres, comprised of (i) the 102 original claims held by ABM; and, (ii) the 641 new claims.

Marketability 52

Marketability 52

Benzinga

JUNE 2, 2023

NASDAQ: SGII ) ("SGII"), a publicly-listed special purpose acquisition company, and American Battery Materials, Inc. The combined company is expected to be renamed "American Battery Materials Holdings", and its common stock and warrants are expected to be listed on the Nasdaq Global Market ("Nasdaq").

Enterprise Value 98

Enterprise Value Market Capitalization Banking Marketability 98

Musings on Markets

DECEMBER 21, 2022

Each year, ahead of teaching my classes at NYU's Stern School of Business in the spring, I invite readers to accompany me on my journey, and this year is no different. Teaching Philosophy I have heard the old saying that "those who can do, and those who cannot teach", and I won't get defensive in response, because it may be true.

Corporate Finance 89

Corporate Finance Finance Start-ups Marketability 89

Chris Mercer

SEPTEMBER 2, 2022

louis video when looking for a video marketing company. I have focused on the changes and additions, which remain essentially unchanged in the 2020-2021 USPAP (the current version). I have discussed these changes and additions in numerous speeches and publications, including on this blog.

Appraisal 52

Appraisal Intangible Assets Discounted Cash Flow Dividends 52

Musings on Markets

OCTOBER 25, 2021

I am constantly amazed by the capacity of legislatures to write bad tax law, but this one takes the cake as perhaps the worst thought-through and most ineffective attempt ever, at rewriting tax code. A rising stock market has augmented the wealth inequality, since the wealthiest hold the preponderance of equities in the market.

Start-ups 98

Start-ups Appraisal Marketability Beta 98

Audit Board

NOVEMBER 16, 2022

In our Spotlight on Success series, Jason Meneses, Vice President, Internal Audit at Jushi Holdings Inc. , and John Kolich, IT Audit Director at Jushi, share how AuditBoard enabled their team to achieve first-year SOX compliance at a rapidly scaling company without having to add resources.

Compliance 52

Compliance Technology Marketability 52

Benzinga

DECEMBER 8, 2022

Pride is the Company's 22 nd acquisition since 2013. I believe ARKO is in a great position, with excellent liquidity and proven dealmaking ability, to continue our long-term growth strategy and grow our convenience store footprint through disciplined, accretive acquisitions at attractive multiples," noted Kotler.

EBITDA 40

EBITDA Finance 40

Farrel Fritz

APRIL 3, 2023

When I was a young associate, I had the good fortune of successfully litigating on behalf of a plaintiff in federal court a claim for faithless servant based upon an employee’s business record falsification resulting in a hefty money judgment after a two-week bench trial (read here ), an appeal to the U.S.

Equity 52

Equity 52

Musings on Markets

MAY 6, 2022

In this post, I will look at where we stand on inflation expectations, and the different paths we can end up on, ranging from potentially catastrophic to mostly benign. Since 2020, though, inflation has become a key story line in almost every post that I write about the overall market, and I have had multiple posts just on the topic.

Risk Premium 92

Risk Premium Treasury Start-ups Equity 92

Reynolds Holding

MAY 21, 2023

A debate has long raged over how to treat the legal boundaries between companies belonging to a corporate group in administering bankruptcies, imposing liability for corporate torts, or determining how tax and jurisdictional rules should apply. TLC Beatrice Int’l Holdings, Inc. , Like other U.S.

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52

Reynolds Holding

SEPTEMBER 7, 2023

2 The purpose of TLAC was to provide a mechanism for resolving a banking organization in manner that preserved the viability of its operations while imposing losses on the equity holders and LTD holders of its top-tier holding company. Holding Company Requirement. LTD Proposal Scope.

Banking 40

Banking Finance Equity Marketability 40

Reynolds Holding

JULY 29, 2022

This post provides an overview of shareholder proposals submitted to public companies during the 2022 proxy season, [1] including statistics and notable decisions from the staff (the “Staff”) of the Securities and Exchange Commission (the “SEC”) on no-action requests. [2]. Top Shareholder Proposals Submitted to Public Companies.

Equity 98

Equity Dividends Banking Finance 98

Farrel Fritz

DECEMBER 26, 2023

But select I must. The cases I’ve selected for this year’s list include decisions by New York courts and a couple of out-of-state courts at the trial and appellate levels, involving mostly limited liability companies but also a few close corporations. Eastland Food Corp. New York’s LLC Law has no such provision.

Start-ups 59

Start-ups Equity 59

Farrel Fritz

JANUARY 2, 2024

One of the most common disputes that a poorly documented investment in a closely held company will produce is one of characterization: is the investment a loan or an equity purchase? Individual A agrees to invest $100,000 in NewCo in exchange for an ownership stake, but then arranges for his company, ACo, to make the $100,000 investment.

Equity 59

Equity Dividends 59

Farrel Fritz

NOVEMBER 13, 2023

I recently had the privilege of speaking to an audience of judges of the New York Supreme Court Commercial Division at Fordham Law School’s Eileen Bransten Institute on Complex Commercial Litigation. My segment offered what I labelled a “semi-critical retrospective” assessment of the state of New York law concerning LLC business divorce.

Fair Market Value 59

Fair Market Value Appraisal Marketability 59

Brian DeChesare

JULY 19, 2023

When you hear the term “long-only hedge funds,” your first thought might be: “How can a hedge fund hold only long positions? I’ll answer both questions here, but I want to start with a few definitions: What is a Long-Only Hedge Fund? Think: a deep review of companies’ financial statements, 3-statement models , and DCF-based valuations.

Equity 52

Equity Beta Banking Start-ups 52

FE International

MAY 11, 2022

“I think the projections are underestimated by a factor of 2-4x in terms of what the market will be worth in two to three years,” says CEO and co-founder of Upright Labs, David Engle. You can look at it in five or ten years, and Upright Labs will be a massive player, and people will know the company. Bootstrappers ).

Start-ups 52

Start-ups Marketability eCommerce Business Valuation 52

Brian DeChesare

JUNE 29, 2022

Similar to private equity firms, they operate on longer time frames, influence companies’ operations and finances, and might catalyze major changes, such as spin-offs or acquisitions. And similar to long/short equity hedge funds , they target undervalued and misunderstood companies and profit when the rest of the market catches up.

Private Equity Firm 52

Private Equity Firm Equity Banking Start-ups 52

Reynolds Holding

JANUARY 31, 2024

30, 2023, for instance, special-purpose acquisition company-related suits had fallen 37% as compared to the same period in 2022. Plaintiffs instead are targeting companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds. Through Sept.

Start-ups 45

Start-ups Technology Marketability Banking 45

Musings on Markets

FEBRUARY 27, 2023

In this post, I will focus on corporate debt in 2023, keeping in mind that it was a year where the tradeoffs changed, as interest rates rose to pre-2008 levels, and putting at risk those firms that had borrowed to capacity, or even beyond, at low interest rates.

Equity 52

Equity EBITDA Start-ups Net Debt 52

Musings on Markets

JANUARY 27, 2022

Inflation: Measurement and Determinants As the inflation debate was heating up in the middle of last year, I wrote a comprehensive post on how inflation is measured, what causes it and how it affects returns on different asset classes. Rather than repeat much of that post, let me summarize my key points.

Risk-free Rate 84

Risk-free Rate Treasury Price to Book Start-ups 84

Chris Mercer

AUGUST 1, 2022

It is important to understand the impact of dividends on the value of illiquid minority interests of companies because many closely held and family businesses pay dividends. I recently found a 2008 version of the FMV Opinions Restricted Stock Database that I purchased back then on our system. versus 21.9%

Dividends 52

Dividends Appraisal Marketability Start-ups 52

Reynolds Holding

SEPTEMBER 16, 2022

The market rewards companies that meet quarterly earnings estimates and punishes those that miss them. In a forthcoming article, I show why this distinction is important. Another example: Taxes on trading and lower capital gains taxes for longer-term holdings are commonly discussed as ways to lengthen stock market horizons.

Marketability 72

Marketability Start-ups 72

Brian DeChesare

MAY 24, 2023

You could even say that a long-only fund that invests in undervalued companies based on their earnings announcements is “event-driven.” But, as usual, I want to start with the definitions and fund types: What is an “Event-Driven Hedge Fund”? If this fund is right, the company’s price may increase by 50%.

Equity 64

Equity Start-ups EBITDA Banking 64

Reynolds Holding

AUGUST 9, 2023

3 This would cover the 8 US G-SIBs, approximately 22 larger and midsized US banking organizations (ranging from traditional regional banking organizations to credit card and other niche organizations), 10-12 US intermediate holding companies of foreign banking organizations, and 7-10 other US banking organizations.

Banking 52

Banking Market Risk Marketability Finance 52

Reynolds Holding

MAY 18, 2022

As is customary, I’d like to note that my views are my own, and I am not speaking on behalf of my fellow Commissioners or the SEC staff. I believe they also contributed to America’s geopolitical standing around the globe. 1] This exceeds even our impact on the world’s gross domestic product, where we hold a 24 percent share.

Marketability 59

Marketability Finance Corporate Finance Technology 59

Reynolds Holding

FEBRUARY 23, 2023

Today, I will share a snapshot of our 2022 enforcement results as well as our policy approach to white-collar and corporate crime. I have the pleasure of serving as a Deputy Assistant Attorney General, or DAAG, in the Department of Justice’s Criminal Division. Thank you, Brian, for the kind introduction.

Compliance 45

Compliance Marketability Start-ups Banking 45

Reynolds Holding

JANUARY 19, 2023

Not only am I an alum of the Law Center, I’m an alum of this building, Gewirz Residence Hall. Much has changed since I was a student here. Just before this event, I was lucky enough to meet with students in Professor O’Sullivan’s class, and I am proud to say that they continue to represent the best traditions of this institution.

Compliance 45

Compliance Start-ups Banking Marketability 45

Lighter Capital

JANUARY 10, 2023

These promises, known as loan or debt covenants , can be as simple as, “I agree to be profitable,” meaning you have to be positive net income; or covenants can be very specific like, “I promise to maintain a minimum of $100,000 cash on hand at all times.” We also gather ongoing monthly data to monitor company performance.

Debt Financing 52

Debt Financing Finance Banking Equity 52

Farrel Fritz

SEPTEMBER 18, 2023

With the growing prevalence of limited liability companies, notable general partnership decisions become fewer and further between with each passing year. Justice Ruchelsman thus denied and dismissed the petition, leaving the majority partners with nothing to show for more than seven years of litigation.

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Farrel Fritz

OCTOBER 24, 2022

Four days ago, when I sat down to write this article, my plan was to feature a decision from Manhattan Commercial Division Justice Andrea J. At the time, my intention was to question if Justice Masley’s holding was consistent with a burgeoning line of appellate case law starting with Crossroads ABL LLC v Caneras Capital Mgt.

Start-ups 40

Start-ups 40