Tue.Aug 09, 2022

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Emerging Fraud Risks to Consider: ESG

Harvard Corporate Governance

Posted by Michael Brodsky and Amy Edwards, Deloitte, on Tuesday, August 9, 2022 Editor's Note: Michael Brodsky is Managing Director and Amy Edwards is Audit & Assurance Senior Manager of the Fraud Risk Center, Deloitte & Touche LLP. This post is based on a Deloitte memorandum by Mr. Brodsky, Ms. Edwards, Krista Parsons , Maureen Bujno , and Kimia Clemente.

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Where delegation fails: Five things only the enterprise CEO can do to build new businesses

Mckinsey and Company

Business building is increasingly important for company resilience, and CEOs are uniquely suited for the job. Here are five tasks that CEOs can undertake to build successful new businesses.

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Hidden Gems: Do Compensation Disclosures Reveal Performance Expectations?

Harvard Corporate Governance

Posted by C. Edward Fee (Tulane University), Zhi Li (Chapman University), and Qiyuan Peng (University of Dayton), on Tuesday, August 9, 2022 Editor's Note: C. Edward Fee is Professor of Finance at Tulane University Freeman School of Business; Zhi Li is Assistant Professor of Finance at Champan University George L. Argyros School of Business and Economics; and Qiyuan Peng is Assistant Professor of Finance at the University of Dayton.

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Elon Musk Reveals He Sold Tesla Shares Last Week To Prepare For An 'Unlikely' Event

Benzinga

Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk said he sold shares of the automaker to avoid an emergency sale in the “hopefully unlikely” event Twitter Inc (NYSE: TWTR ) forces his buyout deal to close. What Happened: Musk confirmed that he was done selling in response to a question on Twitter. The entrepreneur said, “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come.

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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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Delaware and Caremark: An Update

Harvard Corporate Governance

Posted by Theodore N. Mirvis, David A. Katz, and Sabastian V. Niles, Wachtell, Lipton, Rosen & Katz, on Tuesday, August 9, 2022 Editor's Note: Theodore N. Mirvis , David A. Katz , and Sabastian V. Niles are partners at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum, and is part of the Delaware law series ; links to other posts in the series are available here.

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Heico Acquires Key Niche RF & Microwave Switch Maker

Benzinga

Heico Corp (NYSE: HEI ) has acquired 100% of the stock of Charter Engineering, Inc. for cash. Financial details were not disclosed. HEICO expects the acquisition to be accretive to its earnings within the year following the acquisition. Pinellas Park, FL-based Charter designs and manufactures. Full story available on Benzinga.com.

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Why CarLotz Stock Is Stepping On The Gas After Hours

Benzinga

CarLotz Inc (NASDAQ: LOTZ ) shares are trading higher in Tuesday's after-hours session after the company reported financial results and announced a merger agreement with Shift Technologies Inc (NASDAQ: SFT ). CarLotz said second-quarter revenue increased 51% year-over-year to $76.5 million, which beat the estimate of $71.5 million, according to Benzinga Pro.

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Banking on cloud: Why mainframe migration is essential to Asian finance

Avanade

In Asia, the signs of the times are unmistakable – open banking is here to stay. How can traditional banks keep up and compete with fintechs and digital banks?

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EMCOR Acquires Gaston Electrical For Undisclosed Sum

Benzinga

EMCOR Group, Inc. (NYSE: EME ) has acquired Gaston Electrical Co., LLC , headquartered in Norwood, Massachusetts. Deal terms were not disclosed. Founded in 1934, Gaston is a full-service electrical construction and low voltage contractor. It designs, installs, constructs, and maintains electrical and low voltage systems. Full story available on Benzinga.com.

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Risk Assessing Overdraft Programs: Is the Fee Income Worth the Risk?

N Contracts

Overdraft income is under the regulators’ microscope. Overdraft and non-sufficient funds (NSF) revenue was estimated to cost consumers more than $15 billion in 2019, according to the Consumer Financial Protection Bureau (CFPB), raising concerns that a practice that financial institutions promote as a service is actually harming customers.

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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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Four ways to achieve pricing excellence in retail marketplaces

Mckinsey and Company

Sellers typically control what retail marketplaces charge for their products, but retailers have options to keep pricing competitive—and customers loyal.

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CFPB Investigations in Alleged Appraisal Discrimination

Appraisers Blog

The Consumer Financial Protection Bureau (CFPB) has started investigating alleged appraisal discrimination. This is a new development, as federal investigations had so far exclusively been by HUD. The CFPB is an aggressive investigator, and AMCs, large firms and lenders should be wary. For the last year, 40% of my legal work has been occupied by issues concerning alleged discrimination – balanced between representing parties in fair housing investigations and helping clients improve compliance a

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Musk sells $7bn of Tesla stock ahead of court fight with Twitter

Financial Times M&A

Billionaire seeks to avoid ‘emergency sale’ of shares if social media company forces $44bn deal to close

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Section 1031 Like-Kind Exchanges Help Defer Capital Gains & Build Wealth

Gross Mendelsohn

The like-kind exchange is one of the most money-savvy ways to defer capital gains taxes while building your long-term wealth. A 1031 exchange, which gets its name from Section 1031 of the Internal Revenue Code, can help you swap one investment property for another and defer capital gains taxes. These transactions are complicated, and they're riddled with rules that could make or break your investment.

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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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Making financial services available to the masses through AI

Mckinsey and Company

WeBank CFO Arthur Wang discusses how the company balances innovation, technology, and compliance to move itself forward.

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Justices' EPA Ruling Didn't Move Needle On Chevron Doctrine

Law 360 M&A

Though some suggest the U.S. Supreme Court’s recent decision in West Virginia v. U.S. Environmental Protection Agency marked the end of a doctrine requiring judicial deference to federal regulators, the ruling merely articulated well-developed precedent on the limits of agency authority, say Dan Wolff and Eryn Howington at Crowell & Moring.

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One CEO’s journey to becoming a business builder

Mckinsey and Company

In this interview, Patrick Hylton, CEO of NCB Financial Group, shares his experience launching a digital mobile-payments business and what it takes to succeed.

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Texas Energy Co. Sues Terminal Co-Owner In Del. Court

Law 360 M&A

San Antonio-based One Cypress Terminals launched a lawsuit in the Delaware Chancery Court alleging the company it co-owns a Texas petrochemical storage terminal with is attempting to dilute One Cypress' stake in the venture to benefit itself and its private equity investors.

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Thinking differently about talent in a tighter labor market

Mckinsey and Company

In such a tight hiring market, companies need more emphasis on retaining and developing their own employees, writes McKinsey Global Institute director Kweilin Ellingrud in Forbes.

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Warner Bros. Took Wheel On Motor Trend Value, Del. Suit Says

Law 360 M&A

The minority owner of auto enthusiast media company Motor Trend Group LLC sued Warner Bros. Discovery Inc. and two subsidiaries in Delaware's Court of Chancery, seeking to prevent Motor Trend's majority owner from driving down an appraisal of the joint venture.

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July 2022 SAAR

Auto Dealer Valuation Insights

The July 2022 SAAR was 13.3 million units, an improvement from last month’s 13.0 million units but down 10.2% from July 2021’s rate of 14.7 million units. The SAAR continues to reflect depressed sales rates as supply chain shortages restrict volumes across the United States. The first half of 2022’s average SAAR was 13.8 million units, and the beginning of the third quarter has already come in.

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HarperCollins Chief 'Shocked' By Simon & Schuster Price

Law 360 M&A

The head of HarperCollins Publishers told a D.C. federal court on Tuesday that his company considered making a bid for Simon & Schuster Inc. but was shocked at the $2.18 billion that Penguin Random House agreed to pay for the publisher.

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Author Talks: 25 million … and counting

Mckinsey and Company

Despite life-threatening circumstances, refugees are some of the most entrepreneurial people in the world. Andrew Leon Hanna knows why.

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ESOP Challenges

A Neumann & Associates

On numerous occasions, retiring business owners have raised the question, if an ESOP ( Employee Stock Ownership Plan ) as a means of transferring their business would not be better than selling the business to an investor? Not surprisingly, that question is usually asked with the perception that an ESOP is “easy” to be executed, it will “do good” for the employees, and it can hide operational deficiencies in the company’s performance (that the owner does not want to tackle himself).

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How the University of Calgary Finds More Time to Focus on Audit Issues

Audit Board

In our Spotlight on Success series, Rajesh Ghosh, Senior Director, Internal Audit at the University of Calgary , shares how his forward-thinking audit team is stepping up to expand its focus into more operational areas supported by AuditBoard’s connected platform. As one of Canada’s leading public research universities, the University of Calgary is a global intellectual hub offering more than 200 undergraduate, graduate, and professional degree programs to over 33,000 students.

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Merger Would Spur UnitedHealth To Abuse Data, Judge Told

Law 360 M&A

If a proposed $13.8 billion purchase of Change Healthcare was permitted, UnitedHealth Group would have every incentive to tap data from Change's insurer clients to bolster its own business even if it means damaging Change's customer relationships, the U.S. Department of Justice's main expert witness told a D.C. federal judge Tuesday.

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Jack of All Trades, Master of One: The Portable Audit Skill Set

Audit Board

At some point in our careers, we’ll all have to audit an area or activity that’s foreign to us. Throughout my career, I’ve had the opportunity to audit companies in the financial services, technology, biopharmaceutical, and government contracting industries, as well as state and local government agencies. . I recall once while interviewing for the Head of Internal Audit role at a company whose primary business was new to me, one interviewer asked how I was planning to audit a business I had no p

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Unity Software Reports Q2 Earnings In Wake Of AppLovin M&A Offer: Revenue Miss, Guidance Disappointment And More

Benzinga

Software and gaming company Unity Software Inc (NYSE: U ) reported second-quarter financial results and shared a company update after the market close Tuesday. What Happened: Unity reported second-quarter revenue of $297 million, up 9% year-over-year. The total came in below a Street consensus estimate of $298.3 million, according to data from Benzinga Pro.

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Latham, Kirkland Lead $718M Sale Of Huntsman's Textile Biz

Law 360 M&A

Huntsman Corp. will sell its Textile Effects division to SK Capital-backed specialty chemicals company Archroma for $718 million, in a deal guided by Latham & Watkins LLP and Kirkland & Ellis LLP, the companies announced Tuesday.

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The Case Against A Recession and M&A Downturn

Benchmark Report

The U.S. economy has weathered more than two years of unique disruptions due to the COVID-19 pandemic. In addition to the ongoing supply chain problems, Americans now have to deal with the impacts of elevated inflation, higher interest rates, and sanctions because of Russia’s war on Ukraine. These issues are combined with other economic warning signs to raise concerns that the economy is on the verge of a recession.

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How to e-file an amended tax return

Henry Horne

After filing your tax return you may find you’ve made an error when gathering your information, or a misplaced a document just turned up. Don’t stress. This is a common enough occurrence that the IRS has now made it easier to e-file an amended return. Don’t miss: Business meal deduction 2022 – what you should … Keep Reading. The post How to e-file an amended tax return appeared first on Henry+Horne.

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AMA: Tom Agnew, founder of Brafton

Vested

Content marketing is a sure-fire way to build trust and generate leads. And Brafton is a top content marketing agency helping brands do just that. Founder and CEO Tom Agnew, tells us more.

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Why StarTek Shares Are Trading Higher Today?

Benzinga

CSP Management Ltd and affiliates sent a non-binding proposal to StarTek, Inc (NYSE: SRT ) to acquire all the shares of Startek that CSP does not already own for $4.65 per share in cash. The offer price implies. Full story available on Benzinga.com.

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FCF Biotech Venture Capital Monitor – USA 06/2022 published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF Biotech Venture Capital Monitor – USA 06/2022”. The Monitor is a monthly published overview of venture capital trends in the US-Biotech sector. As. Read more. The post FCF Biotech Venture Capital Monitor – USA 06/2022 published appeared first on FCF Fox Corporate Finance GmbH.