Wed.Dec 21, 2022

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Audit committee effectiveness: practical tips for the chair

Harvard Corporate Governance

Posted by Maria Castañón Moats, Stephen G. Parker, Tracey-Lee Brown, PricewaterhouseCoopers LLP, on Wednesday, December 21, 2022 Editor's Note: Maria Castañón Moats is a Leader; Stephen Parker is a Partner; and Tracey-Lee Brown is a Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on their PwC memorandum. Today’s boards are increasingly being asked to up their game—by regulators, investors, and proxy advisors.

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Can Corporate ESG Reports Clear Up ESG Ratings Confusion?

Reynolds Holding

Investors are increasingly incorporating assessments of companies’ performance on environmental, social, and governance (ESG) issues in their portfolio decisions. The global assets under management of the signatories to the United Nations Principles for Responsible Investment (PRI) have grown from about $20 trillion in 2010 to about $121 trillion in 2021. [1].

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Good Corporate Citizenship We Can All Get Behind?: Toward A Principled, Non-Ideological Approach To Making Money The Right Way

Harvard Corporate Governance

Posted by Leo E. Strine, Jr. (University of Pennsylvania), on Wednesday, December 21, 2022 Editor's Note: Leo E. Strine, Jr. is the Michael L. Wachter Distinguished Fellow at the University of Pennsylvania Carey Law School; Senior Fellow, Harvard Program on Corporate Governance; Of Counsel, Wachtell, Lipton, Rosen & Katz; and former Chief Justice and Chancellor, the State of Delaware.

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The VA Required to Encourage Hybrids – Senate Passes HR 7735

Appraisers Blog

The VA will now be required to encourage hybrid appraisals. If you are a VA Appraiser, here’s a bit of news you need to keep tabs on. Senate Passes VA Appraisal Modernization Measure – theMReport.com The U.S. Senate has announced the passage of HR 7735, the Improving Access to the VA Home Loan Benefit Act of 2022. Under the terms of HR 7735, sponsored by Sen.

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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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(Claw) Back to the Future

Harvard Corporate Governance

Posted by Martha Carter, Sean Quinn, and Sydney Carlock, Teneo, on Wednesday, December 21, 2022 Editor's Note: Martha Carter is Vice Chair & Head of Governance Advisory, Sean Quinn is a Senior Managing Director, and Sydney Carlock is a Managing Director at Teneo. This post is based on a Teneo memorandum by Ms. Carter, Mr. Quinn, Ms. Carlock, and Matt Filosa.

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Video Gamers Prosecuted Microsoft Over Activision Deal Citing Antitrust Elements

Benzinga

A private consumer lawsuit alleged Microsoft Corp (NASDAQ: MSFT ) - Activision Blizzard, Inc (NASDAQ: ATVI ) deal of unlawfully stifling competition in the video game industry. The California federal court lawsuit followed the U.S. Federal Trade Commission suit seeking to stop Microsoft, owner of the Xbox console, from completing the largest-ever acquisition in the video-gaming market, Reuters Full story available on Benzinga.com.

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UK government pledges up to £4.5bn to fund Bulb takeover by Octopus

The Guardian M&A

Support comes on top of £1.1bn paid to handle collapsed energy firm’s administration costs The UK government has committed to provide up to £4.5bn to fund the takeover of the collapsed energy company Bulb by its rival Octopus. Bulb spent more than a year in a state-handled administration and its 1.5 million customers transferred to Octopus on Tuesday night.

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Learning From This Year's Legal Industry Discrimination Suits

Law 360 M&A

To limit the risk of lawsuits and make the workplace a more welcoming environment for female attorneys, it is important to reflect on lawyers' recent discrimination and sexual harassment claims against law firms and public employers, says Hope Comisky at Griesing Law.

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2022 End-of-Year Reader Q&A: Bank and School Rankings, the “New Normal” Environment, Twitter and Other Bad Deals, and Plans for Next Year

Brian DeChesare

We’re at the end of another year, and, in many ways, 2022 was quite disastrous. Just look at the financial markets, the crypto meltdown, deal volume at banks, inflation, energy prices, Russia/Ukraine, supply chains, and the hiring environment in tech and finance. All these factors resulted in one of my worst years in terms of both business performance and portfolio performance….

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A Return to Teaching: The Spring 2023 Edition

Musings on Markets

If, as you read this post, it feels like you have read it or a close variant before, it is because you have. 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. Starting in late January 2023, I will be back in the classroom, teaching valuation and corporate finance to the MBAs and valuation to the undergraduates, and these classes will continue through May 2023.

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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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E-commerce is entering a new phase in Southeast Asia. Are logistics players prepared?

Mckinsey and Company

Changing consumer and merchant habits are creating opportunities for logistics companies—if they can cater to new needs and meet more exacting standards.

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Amazing Tours at Assets 2023 Conference in Beautiful Houston Texas

ISA

12/21/2022 12:00:00 AM. In Houston, you can find great cultural destinations and engaging arts events happening all over the city. Join us on one of the three specialty tours scheduled on Friday, March 17th. (Space is limited so submit your conference registration early!). Fine Art Tour. The Fine Art tour will visit three of Houston’s most prestigious fine arts institutions, which includes an exclusive opportunity at a private fine arts institution.

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How Lego plays with data: An interview with chief data officer Orlando Machado

Mckinsey and Company

The iconic toymaker is unlocking the value from data to help rethink processes, surface new opportunities, excite consumers, and empower internal colleagues.

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PCAOB proposes new audit confirmation standard

Accountancy Today

The Public Company Accounting Oversight Board (PCAOB) has proposed a new standard for auditors use of confirmation which is aimed at modernising the process. The proposed standard includes principles-based requirements that would apply to all methods of confirmation, including paper-based and electronic communications. If accepted, the proposal would better integrate the confirmation standard with the PCAOB’s risk assessment standards.

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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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Reimagining the life insurance model in 2023

Mckinsey and Company

Leaders in McKinsey’s insurance practice discuss industry trends and how companies can be successful by rethinking the life insurance model.

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How A BigLaw Probe Led To A Record NBA Franchise Sale

Law 360 M&A

In early November 2021, mere months after the Phoenix Suns lost to the Milwaukee Bucks in the NBA finals, ESPN published an explosive report spotlighting allegations of racism and misogyny by the Suns' owner, Robert Sarver. The NBA shot into action shortly thereafter and hired a BigLaw firm to investigate. Just over a year later, on Tuesday, Sarver sold both the Suns and the WNBA's Phoenix Mercury to a group led by mortgage banking billionaire Mat Ishbia.

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Tech highlights from 2022—in eight charts

Mckinsey and Company

Here’s a look back at some of the important technology story lines from the year that was.

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The Largest Securities Settlements Announced In 2022

Law 360 M&A

From a billion-dollar deal in Delaware to a hard-fought battle over a bribery scandal involving Ohio's legislature, securities litigators secured big settlements this year that sprang from both class actions and derivative suits, with a high number of resolutions occurring in Delaware Chancery Court.

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Porsche and the decline of the German stock market

Financial Times M&A

Carmaker’s €75bn IPO was rare hurrah for Frankfurt exchange short on dynamism and innovation

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DC Circ. Won't Put Emergency Block On Albertsons Dividend

Law 360 M&A

A D.C. Circuit panel summarily refused Tuesday to impose an emergency pause on Albertsons' planned $4 billion dividend to shareholders ahead of its merger with Kroger, dealing one more blow to the attorneys general of D.C., California and Illinois.

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What US tech talent expects from remote work

Mckinsey and Company

For today’s tech talent, there’s no one-size-fits-all work environment.

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Help wanted: Carlyle CEO. Team players preferred.

Financial Times M&A

Plus, Musk confronts Twitter’s increasingly unmanageable debt and the mortgage billionaire behind an NBA double deal

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The Test of True Accountability (Updated for 2023)

Rhythm Systems

This happens all the time. You are holding someone accountable to get something done. Yet you find yourself checking in and chasing for an update on what is going on. Constantly. And if you do not remind them to report the current status to you, they continue to mosey on and forget about reporting in. So frustrating! But they are supposed to be truly accountable, right?

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EU imposes tough conditions on Germany’s Uniper bailout

Financial Times M&A

Stricken gas importer will have to sell off its most modern power plant

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Valuing a Bar or Nightclub

Peak Business Valuation

During the COVID-19 pandemic , there was a sharp decline in revenue and many bars and nightclubs closed their doors. As the economy recovers the bar and nightclub industry is once again expanding. This growth is appealing, however, this industry comes with revenue volatility and high competition. As such, if you plan on buying or selling a bar or nightclub it is valuable to know the value of a bar or nightclub.

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South Korea’s Mirae builds up in European ETF industry

Financial Times M&A

Group buys market maker GHCO in space dominated by near-duopoly

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Mercer Capital One of the Top Three Advisors to Credit Unions Acquiring Banks

Auto Dealer Valuation Insights

Per S&P Global Market Intelligence, Mercer Capital is among the top three financial advisors for credit union-bank M&A deals since 2015. Led by Jay Wilson, CFA, ASA, CBA, Mercer Capital has extensive experience providing valuation and advisory services to credit unions on acquisitions of banks and bank branches, and mergers with other credit unions.

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New Leaf Ventures To Acquire High Profile

Benzinga

New Leaf Ventures Inc. (OTCPK:NLVVF) (CSE:NLV) has entered into an amalgamation agreement with High Profile Holdings Corp. , pursuant to which New Leaf has agreed to acquire all of the issued and outstanding common shares of High Profile by way of a statutory three-cornered amalgamation. Transaction Highlights. New Leaf will issue 0.052548929 of a common share for each issued and outstanding common share of High Profile, and the common shares of High Profile will be cancelled, resulting in the i

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Mercer Capital One of the Top Three Advisors to Credit Unions Acquiring Banks

Auto Dealer Valuation Insights

Per S&P Global Market Intelligence, Mercer Capital is among the top three financial advisors for credit union-bank M&A deals since 2015. Led by Jay Wilson, CFA, ASA, CBA, Mercer Capital has extensive experience providing valuation and advisory services to credit unions on acquisitions of banks and bank branches, and mergers with other credit unions.

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Shutts & Bowen Hires Ex-Spirit Aerosystems GC In Miami

Law 360 M&A

Shutts & Bowen LLP said Wednesday that a former attorney rejoined the firm as a Miami-based partner in its corporate group, following stints working in-house at a number of aerospace companies including Spirit Aerosystems and Signature Aviation.

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FCF TMT Market Study 2022 – published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is pleased to publish the new “FCF TMT Market Study – 12/2022”. Based on available data from European TMT (Technology, Media & Telecommunications) companies, the FCF TMT MARKET STUDY is. Read more. The post FCF TMT Market Study 2022 – published appeared first on FCF Fox Corporate Finance GmbH.

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Holland & Knight Gains Energy Pro From Akin Gump

Law 360 M&A

Holland & Knight LLP has strengthened its corporate, mergers and acquisitions and securities practice with the addition of a partner in Houston who brings substantial experience in the energy sector, the firm announced Wednesday.

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Twitter Was Being Scammed $60M Every Year, Tesla Freezes Hiring, Netflix On Microsoft's Acquisition Radar: Today's Top Stories

Benzinga

Benzinga. 'Twitter Was Being Scammed $60M Per Year:' Elon Musk On Why 2FA Is Not Working For Some Users. Are you a Twitter user wondering why you are having problems logging into your accounts or changing passwords because of disruptions in two-factor authentication codes? Twitter chief Elon Musk has just cleared the air for you. During a live Spaces session early on Wednesday, Musk said that the microblogging site was being scammed "$60 million per year for SMS texts," not cou

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Schulte Roth-Led Investor Urges Six Flags To Cash In On Land

Law 360 M&A

Shareholder activist Land & Buildings, led by Schulte Roth & Zabel LLP, urged Six Flags to separate its real estate from operations or to sell the property for its 27 amusement parks in North America, saying the land is likely worth more than what the company's stock price suggests.

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