Fri.Apr 19, 2024

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The Hidden Logic of Shareholder Democracy

Harvard Corporate Governance

Posted by Usha Rodrigues (University of Georgia), on Friday, April 19, 2024 Editor's Note: Usha Rodrigues is the M.E. Kilpatrick Chair of Corporate Finance and Securities Law at the University of Georgia School of Law. This post is based on her SSRN working paper. In the Hidden Logic of Shareholder Democracy , I examine the basic rules of shareholder voting.

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Saudi Arabia Near Deal For Stake In Gold, Copper Mine Project In Pakistan's Troubled Province

Benzinga

Saudi Arabia's Manara Minerals is reportedly in advanced talks to acquire a minority stake in Pakistan’s Reko Diq gold and copper mine project. The project, located in the commodity-rich province of Balochistan , is on track to start production by 2028. According to Bloomberg and the state-run Radio Pakistan, the official announcement could come within a few weeks.

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Weekly Roundup: April 12-18, 2024

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, April 19, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of April 12-18, 2024 Creditor rights, collateral reuse, and credit supply Posted by Brittany Lewis (Washington University in St. Louis), on Friday, April 12, 2024 Tags: BAPCPA , Congress , Credit supply , GFC Key Considerations for the 2024 Annual Reporting and Proxy Season: Proxy Statements Posted by Maia

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Comment on AI to Counter Flawed Appraiser Bias Narrative by Vince Slupski

Appraisers Blog

The scandal isn’t that a few appraisers might be racially biased. The scandal is that appraisal is so squeezy that two appraisers can produce value opinions that differ by hundreds of thousands of dollars! 30+ years ago, the AIREA and SREA merged; FIRREA was passed; the structure of appraisal licensing and regulation by the states was implemented, all overseen by the Appraisal Foundation.

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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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Florida Tex-Mex Chain Tijuana Flats' New Owner Files Ch. 11

Law 360 M&A

Fast-casual Tex-Mex dining chain Tijuana Flats said Friday it has changed ownership and filed for Chapter 11 protection in a Florida bankruptcy court with more than $10 million in debt.

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Comment on AI to Counter Flawed Appraiser Bias Narrative by Baggins

Appraisers Blog

In reply to Vince Slupski. [link] Read the appraisals yourself, they are posted in that thread. If one could even call some of the hybrid simplified products as ‘appraisals.’ They did not adjust for land, gross sizing comparison differences, failed to adjust for rear features, did not adjust basement room counts, quality of feature differences, a myriad of shortcomings, see addenda, prewritten, etc, etc.

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Comment on AI to Counter Flawed Appraiser Bias Narrative by Baggins

Appraisers Blog

In reply to David Ziccardi. I understand your argument and this is interesting, perhaps you’re selecting language which is too close together in meaning. There is no room for bias, when all a valuator does is interpret and report on other peoples decisions, or some form of tangible items most likely and most probable worth in a specific market setting, solicited under specific terms.

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Aaron Fleitman Earns the Accredited Senior Appraiser Designation in Business Valuation

Trout CPA

At Trout CPA, we take immense pride in the dedication and expertise of our team members. Earlier this year, we proudly announced that Senior Associate Aaron Fleitman had earned his AM (Accredited Member) designation from the esteemed American Society of Appraisers. Building upon this achievement, we are delighted to announce further his attainment of the Accredited Senior Appraiser (ASA) designation from the American Society of Appraisers.

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Comment on AI to Counter Flawed Appraiser Bias Narrative by PD

Appraisers Blog

In reply to David Ziccardi. There are those that would take such a statement out of context and exploit it to support their self-serving narrative. They would use it in a manner to try and eliminate the appraiser stumbling block. The people trying to eliminate appraisers are greed driven, despicable individuals who have no moral compass. It is business and they will use anything at their disposal.

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Canopy Growth's Big Step Toward Entry Into US Cannabis Market As DEA Rescheduling Looms

Benzinga

Canopy Growth Corporation (TSX: WEED ) (NASDAQ: CGC ) said on Thursday, April 18 that in connection with the creation of the company's non-voting and non-participating exchangeable shares, Greenstar Canada Investment Limited Partnership and CBG Holdings LLC , each a wholly-owned subsidiary of Constellation Brands Inc (NYSE: STZ ) exchanged all 17,149,925 common shares in the capital of the company they collectively held for 17,149,925 exchangeable shares for no consideration.

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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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Comment on Fannie Mae to Maryland: DROP DEAD by PD

Appraisers Blog

I for one have always found it troubling a “for profit” company sets the parameters for the mortgage industry. Of course any company that is answerable to their stake holders is going to do their best to maximize their returns. Why does anyone believe FNMA is any different? How they managed to get into the hen house is ripe for discussion.

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Author Talks: The formula for successful negotiation

Mckinsey and Company

What does it take to constructively engage and transform conflict? Harvard’s William Ury, expert negotiator and coauthor of the best-selling classic Getting to Yes, offers a way out of the seemingly impossible problems of our time.

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Comment on Fannie Mae to Maryland: DROP DEAD by Baggins

Appraisers Blog

Great comments. Another great article. Don’t worry the taxpayer is backing everything. Insiders will find their way out ahead of the crowds after primary goals are achieved. Things are moving along nicely, just as planned. [link] The plunge protection teams current status; tap dancing on a bubble, whiskey and cigar in hand. Those whom rushed in with wild eyed ideas of saving the world and restructuring society, those whom believed that entrusting the same government and corporations whom f

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From anime to monozukuri: The hidden strengths of Japanese corporates

Mckinsey and Company

The underlying strengths of Japanese corporates, matched with a confidence to achieve transformation, can be the keys to unlock their full potential for global growth.

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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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Comment on Fannie Mae to Maryland: DROP DEAD by Dave

Appraisers Blog

I recommend that my colleagues read “Dark Towers” by David Enrich very much substantiating similar historic and current behavior of the “twins” I would proffer that we currently are at an inflection point where high risk atypical properties are being loaded into the residential portfolios. Appraisers need only look at the last 10 appraisal requests and compare complexity to appraisal fee offered.

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Accelerating innovation: The potential of digital twins in medtech R&D

Mckinsey and Company

When the stakes are high and regulation is necessarily complex, using digital twins can enable better, faster innovation in medtech. Unlocking the value available can be hard, but getting the transformation right can help organizations create better performing products.

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Comment on Fannie Mae to Maryland: DROP DEAD by Eric Kretz

Appraisers Blog

“If an automated valuation model is used for a valuation waiver in the State of Maryland, then the parametric data and risk-analysis information must be released to the public. Also, any waiver of a traditional appraisal must be followed by a written, detailed document with a fixed value.” This is the answer. If our clown-show overlords insist on using this rubber stamping technology, this should be the minimum they would have to provide the consumer.

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Mixing It Up: Combining Seller Financing, Equity Investment, and All-Cash Elements in Mergers and Acquisition Deals

Sun Acquisitions

Mergers and acquisitions (M&A) are complex financial transactions that often involve various components to structure a successful deal. In the world of M&A, it’s not uncommon to see a mix of seller financing , equity investment, and all-cash elements coming together to create a mutually beneficial arrangement for buyers and sellers. This blog post explores the advantages and considerations of using these elements in M&A deals.

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Comment on AI to Counter Flawed Appraiser Bias Narrative by David Ziccardi

Appraisers Blog

Is it just me or is the public and the appraisal community constantly conflating bias with discrimination? In my opinion, as long as USPAP requires appraisers to state that appraisal reports are performed without bias, the perception that we are a discriminating industry will not go away. I think that USPAP language needs to be modified so that appraisers have permission to state that appraisers are human, biased individuals and that our reports are performed with a certain amount of bias.

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Why SPAC Redwoods Acquisition Shares Are Skyrocketing Friday?

Benzinga

Redwoods Acquisition Corp. (NASDAQ: RWOD ) shares traded higher on Friday after the company announced that shareholders had approved its merger agreement with Anew Medical. Following the consummation of the transactions, Redwoods will change its name to Anew Medical, the company said in an exchange filing (April 18). On May 30, 2023, Redwoods Acquisition entered.

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Comment on Fannie Mae to Maryland: DROP DEAD by Truett Neathery, Retired

Appraisers Blog

When I worked in the engineering field (Flour, Ralph Parsons et al) the watchword was “Show calculations “, when there was a question or a doubt !!

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Schneider Electric confirms talks with Bentley Systems

Financial Times M&A

French group says it is looking at a ‘potential strategic transaction’ with US software specialist

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Comment on Fannie Mae to Maryland: DROP DEAD by Mark S. Davis

Appraisers Blog

Transparency is the minimum standard for both valuation professionals and government entities; anything less is evidence of fraud and/or manipulation.

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SBA Loans for Tire Dealerships

Peak Business Valuation

Tire dealerships sell tires and tire tubes for various vehicles. Many operators also provide tire maintenance and repair services. According to IBIS World , this industry generates over $9 billion in annual revenue. As such, operating a tire dealership can be lucrative. However, starting , buying , or growing a tire dealership can come with financial challenges.

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Comment on AI to Counter Flawed Appraiser Bias Narrative by Pat

Appraisers Blog

The Appraisal Institute's public acknowledgement of an obligation to counter "appraiser bias" narratives is an encouraging first step.

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Casino SPAC Can Return Money, Not Shares, Chancery Rules

Law 360 M&A

Stockholders in a blank-check company that failed to merge with a Philippines-based casino are entitled to a distribution from $37.5 million sitting in trust, but the company may not redeem any shares until an investor's Delaware lawsuit plays out, a Chancery Court vice chancellor said Friday.

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Market Resilience: Asset Managers Thrive Amidst Economic Volatility in 2023

Auto Dealer Valuation Insights

Despite persistent inflation, elevated interest rates, and heightened geopolitical tensions, the asset management industry and the stock market as a whole saw a resurgence during 2023. Our index of publicly traded asset management firms generally tracked the movement in the broader market, with stock prices for smaller asset managers (AUM under $250 billion) up 30.

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French Train Biz Alstom Selling Signaling Biz For $671M

Law 360 M&A

French train manufacturer Alstom said Friday it has agreed to sell its North American conventional signaling business to German brake-maker Knorr-Bremse AG for about €630 million ($671 million).

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Can Blizzard Keep Its Autonomy Post-Microsoft Acquisition? 'No One Asking Us To Do Anything,' Says World Of Warcraft Exec

Benzinga

Six months after Microsoft Corp. ‘s (NASDAQ: MSFT ) acquisition of Activision Blizzard, Holly Longdale, executive producer and vice president at World of Warcraft, provided insights into the post-acquisition environment. In an interview with Video Games Chronicle, Longdale revealed Microsoft has largely allowed Blizzard to maintain its autonomy: “There's no one asking us to do anything.” See Also: China Welcomes Back World Of Warcraft As Blizzard, NetEase Reach Agreement &

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2024 NADC Conference Key Takeaways

Auto Dealer Valuation Insights

Scott Womack and I attended the National Association of Dealer Counsel (“NADC”) annual member conference in Napa, California, this past week. The conference took place from Sunday, April 14th, to Tuesday, April 16th, and conference attendees included attorneys, auto dealer principals, in-house counsel, and vendors/service providers like us.

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Mondi Drops Pursuit Of DS Smith After Int'l Paper Deal

Law 360 M&A

British packaging company Mondi officially dropped out of its running battle with International Paper to buy DS Smith on Friday after the two latter companies struck a more than $7 billion deal to join forces earlier this week.

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Just Released | 1Q24 Exploration & Production Newsletter

Auto Dealer Valuation Insights

Mercer Capital’s Value Focus: Exploration & Production newsletter provides an overview of the industry through supply and demand analysis, commodity pricing, and public market performance. In addition, each issue of this quarterly newsletter focuses on a region, including Eagle Ford, Permian, Appalachia, and Haynesville, examining general economic and industry trends.

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Taxation With Representation: Kirkland, Cleary, O'Melveny

Law 360 M&A

In this week's Taxation With Representation, Resideo Technologies Inc. announced plans to buy Snap One Holdings Corp., APi Group said it bought an elevator maintenance company, Prysmian said it agreed to purchase Encore Wire, and Sayari said it closed on an investment from TPG.

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Why do you need to have extra insurance coverage for fine art & jewelry?

ISA

4/19/2024 12:00:00 AM Spring is a time for renewal and rebirth. It’s also a good time to take inventory while you do your spring cleaning. One question you should ask yourself is “am I properly insured if something catastrophic happens?” Specifically, many people may not realize that traditional homeowners insurance policies typically have coverage limits that may not be sufficient to adequately protect high-valued property such as fine art, jewelry, or luxury items.