Tue.May 30, 2023

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Disloyal Managers and Shareholders’ Wealth

Harvard Corporate Governance

Posted by Elierzer M. Fich (Drexel University), Jarrad Harford (University of Washington), and Anh L. Tran (City University of London) , on Tuesday, May 30, 2023 Editor's Note: Eliezer Fich is Professor of Finance at Drexel University LeBow College of Business, Jarrad Harford is Professor of Business Administration at the University of Washington Foster School of Business, and Anh L.

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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Dave

Appraisers Blog

Bracket, bracket, bracket – you’re done!!!! The rest is narrowing the bracket with transparancy not silly mechanical adjustments – show your knowledge by explaining the differences – so easy!

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Shareholder Activism: What Investors Seek, Which Companies Are Targeted, and How Stocks Perform

Harvard Corporate Governance

Posted by David Kostin and Jenny Ma, Goldman Sachs, on Tuesday, May 30, 2023 Editor's Note: David Kostin is Chief US Equity Strategist and Jenny Ma is a US Equity Strategist at Goldman Sachs. This post is based on their Goldman Sachs memorandum. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian Bebchuk, Alon Brav, and Wei Jiang; Dancing with Activists (discussed on the Forum here ) by Luc

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Louisiana Ear, Nose, Throat and Sinus Becomes the First Elevate ENT Practice in Louisiana State

Business Wire M&A

MIAMI LAKES, Fl.--(BUSINESS WIRE)--Elevate ENT Partners (“Elevate”), a leading management support organization (“MSO”) of ear, nose, and throat (“ENT”) practices nationwide, announced it has acquired Louisiana Ear, Nose, Throat and Sinus (“LENTS”). This transaction follows the recent acquisitions of Ear, Nose & Throat Associates of Texas and Florida’s Otolaryngology Consultants PA.

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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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The state of AI in GCC countries—and how to overcome adoption challenges

Mckinsey and Company

Research suggests that AI uptake remains low and points to how companies in the region can overcome the hurdles delaying the capture of AI’s potentially high rewards.

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Comment on The New & Improved Fannie Mae “FRAUDULATOR 2.0” by Baggins

Appraisers Blog

In reply to Dave. Why not? You’ve done the research, narrowed down the search results, selected appropriate comps. That’s your market, a micro view of it at least. If your adjusted values are in alignment after such reasonable adjustment applications, then you’ve achieved market reaction level adjustments. Market value is a moving target.

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Link Outdoor Lighting Joins SiteOne Landscape Supply

Business Wire M&A

ROSWELL, Ga.--(BUSINESS WIRE)--SiteOne® Landscape Supply, Inc. (NYSE: SITE) announced today the company completed its acquisition of Link Outdoor Lighting, Inc. (“Link”), a wholesale distributor of outdoor lighting products with four locations across Florida, Texas and Tennessee.

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What is personalization?

Mckinsey and Company

In marketing, personalization is when seller organizations use data to tailor messages to specific users’ preferences.

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SilverEdge Acquires Gardetto Engineering, Expanding Digital Design Capabilities and Engineering Services for the U.S. Defense and Intelligence Communities

Business Wire M&A

COLUMBIA, Md.--(BUSINESS WIRE)--SilverEdge Government Solutions (“SilverEdge”), a leading cybersecurity, software, and intelligence solutions platform serving the U.S. Defense and Intelligence Communities, today announced the acquisition of Gardetto Engineering, LLC (“Gardetto”), an engineering services company specializing in digital design, hardware design, and systems engineering.

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Hemisphere Stockholders Sue In Del. Over Searchlight Buyout

Law 360 M&A

Ex-stockholders of Hemisphere Media Group Inc. have sued former controlling investor Searchlight Capital Partners LP in Delaware's Court of Chancery, accusing the private equity firm and Hemisphere leaders of orchestrating a two-step take-private deal in May 2022 that undervalued Searchlight's acquisition of Hemisphere's remaining shares.

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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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Alternative capital in property and casualty: A way forward

Mckinsey and Company

We take a look at five likely trends for alternative capital in property and casualty insurance—and outline how insurers can use this capital to close the insurance gap.

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Alternatives M&A: keeping up with the Blackstones will invite scrutiny

Financial Times M&A

TPG deal for Angelo Gordon highlights the drivers of concentration of power in the industry

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Asda confirms £10bn merger with petrol stations group EG

The Guardian M&A

Mohsin Issa will continue to lead business, while Asda will begin search for new group chief executive Asda has announced it is to acquire the petrol forecourts and convenience store operations in the UK and Ireland of its sister business, EG Group, in a deal worth £2.27bn. The long-awaited tie-up of the two groups , both owned by the billionaire Issa brothers and the private-equity firm TDR Capital, is expected to create a combined business worth about £10bn and will allow the supermarket to ex

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Goldman weighs fresh job cuts as dealmaking drought persists

Financial Times M&A

Wall Street bank considers eliminating fewer than 250 employees after making deeper reductions earlier in the year

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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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Governance and Oversight Trends: Third-Party Risk Management for the Future

Audit Board

Only 12% of organizations rate their third-party risk management (TPRM) program as highly mature. While organizations have drastically increased their use of third parties, TPRM maturity hasn’t kept pace. AuditBoard and RSM’s new ebook, Third-Party Risk Management: Trends and Strategies to Help You Stay Ahead of the Curve, translates current TPRM trends and lessons learned into actionable ideas to help your organization identify, reduce, and monitor of third-party risk.

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Private equity keeps the party going in China

Financial Times M&A

Plus, the Issa brothers pull off another debt shuffling feat and junk bonds resurface on Wall Street

Equity 73
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The debt ceiling agreement and the financial health of the U.S.

LaPorte

The agreemen's impact on economic growth will most likely be negligible and will bring modest growth in overall spending over the next two years. The post The debt ceiling agreement and the financial health of the U.S. first appeared on LaPorte.

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Heavy Equipment Appraisal

Peak Business Valuation

If you are a business owner who deals with heavy machinery and equipment, you may wonder how to determine the value of your equipment and whether you are making the best financial decisions when buying or selling. Luckily, a heavy equipment appraisal can help you answer those questions. Heavy equipment appraisals are critical for any business that relies on heavy machinery and equipment.

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ACO not entitled to exemption under section 501(c)(4)

LaPorte

The U.S. Tax Court affirmed the IRS's denial of section 501(c)(4) status to an ACO engaged in commercial shared savings programs. The post ACO not entitled to exemption under section 501(c)(4) first appeared on LaPorte.

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Steps in a Business Valuation

Auto Dealer Valuation Insights

Join Zac Lange from Mercer Capital as he guides you through the comprehensive process of business valuation. His walkthrough reveals the important steps of a valuation, from defining the engagement, gathering and analyzing relevant data, to selecting appropriate valuation approaches, and finally issuing the report. He emphasizes the importance of understanding the company’s specific context.

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Consumer confidence falls to six-month low

LaPorte

The top-line confidence level fell to 102.3 from an upwardly revised 103.7, the Conference Board reported on Tuesday. The post Consumer confidence falls to six-month low first appeared on LaPorte.

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Frank Speaking at FICPA Mega 2023

Auto Dealer Valuation Insights

Mercer Capital’s Atticus L. Frank, CFA, ABV to present at the upcoming FICPA Mega 2023 Conference on Tuesday, May 16, 2023, in Orlando, Florida. Frank’s session is titled “Who Will Watch the Watchmen? Best Practices Reviewing a Business Appraisal.” In his presentation, he will describe what to do when a business valuation comes across your desk.

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Campbell Soup Divests Emerald Nuts Unit To Flagstone Foods For Undisclosed Terms

Benzinga

Campbell Soup Company (NYSE: CPB ) announced the sale of its Emerald Nuts business to Flagstone Foods. Disposal terms have not been disclosed. The Emerald Nuts business generated net sales of $66 million in fiscal 2022. The unit generated $46 million for the. Full story available on Benzinga.

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SGT Capital Buying Security Co. Elatec In €400M Deal

Law 360 M&A

Global private equity firm SGT Capital said Tuesday it has agreed to acquire security solutions company Elatec GmbH from growth equity investor Summit Partners in a deal valued at roughly €400 million ($428.7 million).

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Is that a Lease? A Focus on Nonprofit Lease Considerations under ASC Topic 842

Trout CPA

While Accounting Standards Codification (ASC) Topic 842 is applicable to all entities, the adoption of the new leasing standard by nonprofit organizations is bringing into focus some unique considerations that may impact the conclusion of whether a contract actually contains a lease.

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AI and machine learning are dominating the healthcare conversation

Avanade

Although the healthcare industry has traditionally been a technology laggard, the sentiment is changing as many health system leaders see AI and machine learning as an opportunity to be pioneers.

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MEI Pharma Confirms Receipt of Unsolicited Acquisition Proposal

Business Wire M&A

SAN DIEGO--(BUSINESS WIRE)--MEI Pharma, Inc. (NASDAQ: MEIP) (the “Company”) today confirmed receipt of an unsolicited and non-binding proposal on May 23, 2023 from a group represented by Anson Advisors Inc. and Cable Car Capital LLC, as referenced in their 13-D filing of earlier today, to acquire all outstanding shares of MEI for not less than $8.

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The Great Resignation, Talent Shortages, Inflation, Recession … Maybe Bonuses Can Help!

Trout CPA

It will come as no surprise that bonuses (including all forms of variable pay for purposes of this discussion) are far more prevalent in the for-profit than the nonprofit sector. For many people, bonuses are believed to be appropriate, or perhaps unavoidable, among for-profits but often viewed as inappropriate or unnecessary for nonprofits. Quite simply there is a school of thought that nonprofits shouldn’t have bonuses or just don’t need them to carry out their missions.

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4 Key Investments That Should Be A Part Of Any Portfolio

Financial Analyst Insider

Have you ever stood on the precipice of a mountain, peering down the trail you’re about to traverse, contemplating the exciting journey that lies ahead? The post 4 Key Investments That Should Be A Part Of Any Portfolio appeared first on Financial Analyst Insider.

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Pay Transparency – Is Your Organization Ready?

Trout CPA

In the past, most discussions about compensation were largely confined to the specific instances of either a job offer or the once-a-year “pay discussion” between manager and subordinate. Outside of these circumstances, the topic was generally not viewed as a subject for polite conversation.

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Valuing a Nursing Home or Assisted Living Facility 

Peak Business Valuation

The home care industry is one of the fastest-growing healthcare industries in the United States. Businesses in this industry include nursing homes and assisted living facilities. Industry revenue increased by 4.8% in 2023 alone according to IBIS World. Moving forward, this upward trend is expected to continue. This presents a high revenue growth opportunity for individuals looking to buy , grow , or sell a home care providing business.

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Endowment Woes! Navigating The Nuances With Endowments

Trout CPA

An endowment is a pool of funds donated or set aside to be preserved over time in order to support an organization’s mission. Nonprofits establish endowments for a variety of reasons, usually as part of their long-term strategic plan. Donors may contribute assets, such as cash and securities, and make pledges for future contributions to a nonprofit for creating an endowment.

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JBT Divests AeroTech Business To Oshkosh For $800M

Benzinga

John Bean Technologies Corp (NYSE: JBT ) has entered into a definitive agreement to sell its AeroTech business to Oshkosh Corporation (NYSE: OSK ) in an all-cash transaction valued at $800 million. JBT expects to use the net proceeds for debt repayment and continued disciplined FoodTech inorganic growth. "As we signaled during our Investor Day in March of 2022, the divestiture of AeroTech supports our strategy to become a pure-play food and beverage solutions.

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Oshkosh Corp. To Buy JBT's AeroTech Biz In $800M Deal

Law 360 M&A

Cravath-led Oshkosh Corp., a maker of specialty vehicles and equipment, has agreed to acquire the AeroTech business of Kirkland-guided JBT Corp. in an $800 million all-cash transaction, the companies said Tuesday.

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