Harvard Corporate Governance

JUNE 14, 2023

Posted by Marco Becht (Solvay Brussels School of Economics and Management), Anete Pajuste (Boston University), and Anna Toniolo (Harvard University), on Wednesday, June 14, 2023 Editor's Note: Marco Becht is a Professor of Finance at Solvay Brussels School of Economics and Management; Anete Pajuste is a Professor of Finance at Stockholm School of Economics (Riga), and Visiting Lecturer at Questrom School of Business, Boston University; and Anna Toniolo is Postdoctoral Fellow at the Program on Co

Finance 251

Finance 251

IVSC

JUNE 14, 2023

Doug McPhee Senior Director - Head of Valuations at Public Investment Fund (PIF) Doug McPhee is Senior Director - Head of Valuations at the Public Investment Fund (PIF). Prior to joining PIF, Doug was a Corporate Finance Partner and Global Valuation Leader for KPMG. He was a Panel Member at the UK's Financial Reporting Council (FRC) from 2016-2022 and Vice Chair of the CBV Institute Board of Directors from 2017-2020.

Intangible Assets 130

Intangible Assets Corporate Finance Finance Equity 130

Harvard Corporate Governance

JUNE 14, 2023

Posted by Elizabeth P. Gray, A. Kristina Littman, and Adam Aderton, Willkie Farr & Gallagher LLP, on Wednesday, June 14, 2023 Editor's Note: Elizabeth P. Gray , A. Kristina Littman , and Adam Aderton are Partners at Willkie Farr & Gallagher LLP. This post is based on a Willkie memorandum by Ms. Gray, Ms. Littman, Mr. Aderton, Leigh Coutoumanos and Erik Holmvik.

Marketability 218

Marketability 218

Appraisers Blog

JUNE 14, 2023

I typically respect or concur with Dave on most topics. Not this one. I still respect him but strongly disagree with his arguments. I also took the survey which was restrictively worded. One of two answers. Absolutes. The key is “market significant” or “demonstrably market recognized.” It has nothing to do with price a builder seeks to charge.

Appraisal 98

Appraisal Marketability 98

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.

Marketability

Rhythm Systems

JUNE 14, 2023

When it comes to selecting the right software for your company's performance management and goal-setting needs, the choice between Rhythm Systems and Align Today is an important one. While both platforms offer valuable features, I'll share why Rhythm Systems is the superior choice for many organizations. We will explore three key factors that set Rhythm apart from Align: customization, training and support, and integrations.

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97

Appraisers Blog

JUNE 14, 2023

In reply to David. Okay Bucky your defense is, “the computer told me so?” That won’t hold in court. You need to show what the algorithms do, all information entered and why it told you what it did. I can fully explain what I did. So you want to trust your reports to the algorithms that Zillow used to buy up houses and tell you what is wrong with your reports?

Marketability 98

Marketability 98

Machen McChesney

JUNE 14, 2023

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as simple as it may seem.

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Mckinsey and Company

JUNE 14, 2023

Banks that build common ground between their compliance functions and business leaders who shape strategy can open paths to better customer experience, greater productivity, and resilient growth.

Compliance 81

Compliance Banking 81

Appraisers Blog

JUNE 14, 2023

In reply to Chuck Minzenberger, SRA. I interviewed a builder a long time ago, both he and his wife were accountants. They got into building by buying out one of their clients. They priced a new tract by studying the competition, limiting models, not competing with themselves, and teasing the market with a defining spread from high (The biggest profit maker to the Lowest price a breakeven).

Appraisal 76

Appraisal Marketability 76

Mckinsey and Company

JUNE 14, 2023

Despite progress, most pharma companies have not fully rewired their tech, tools, and operating models to realize their digital and analytics ambitions. Five actions can help them achieve scale.

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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

Corporate Finance

Appraisers Blog

JUNE 14, 2023

I have done it both ways to the exact square footage difference and no adjustment for a variance of 100 square feet or less and quite frankly it does boil down to the market reaction in varying price points. So I do not pigeon hole myself to one way or the other. As for the rounding could not agree more. I have seen odd numbers for adjustments like $10,236 or something like that and agree we or should I say the Market is NOT that precise.

Marketability 76

Marketability 76

The Guardian M&A

JUNE 14, 2023

Deal to combine firms’ British telecoms networks likely to face competition scrutiny Vodafone and the owner of Three have agreed a deal to merge their British telecoms networks in a move that will create the UK’s largest mobile phone operator. The two companies are the UK’s third- and fourth-biggest operators respectively. The newly combined company will, if the merger is completed, have more than 27 million subscribers, leapfrogging rivals EE, owned by BT, and Virgin Media O2, owned by Spain’s

Marketability 75

Marketability 75

Appraisers Blog

JUNE 14, 2023

I participated in the survey. As far as adjusting, I think you are asking the wrong questions, it doesn’t matter how a builder might price a home to a buyer, or how a real estate sales person would deduct a certain amount off the presumed accurate square footage when pricing a home, what really matters is how a buyer reacts to GLA, if at all. The overall functionality, efficiency of the layout and the room placements are far more important, an excessively large dining room or family room is pret

Comps 76

Comps Appraisal Marketability 76

Law 360 M&A

JUNE 14, 2023

ESH Acquisition Corp., a blank check company led by industry veterans targeting entertainment, sports and hospitality, on Wednesday announced the pricing of its initial public offering at $100 million.

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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.

Marketability

Appraisers Blog

JUNE 14, 2023

I don’t think there is an exact correct way to do it. On a 4000 square-foot home I don’t think 100 square-foot is gonna make any difference, on a 800 square-foot home, now that’s a different story.

Appraisal 76

Appraisal 76

Law 360 M&A

JUNE 14, 2023

A New Jersey bankruptcy judge Wednesday gave final approval for retailer Bed Bath & Beyond to receive $240 million in debtor-in-possession financing, including $40 million of new money, from Sixth Street Specialty Lending Inc. and affiliates.

Finance 75

Finance 75

Appraisers Blog

JUNE 14, 2023

Spot on Chuck – I agree with his approach 100%. I would just add that we make adjustments because we are expected to, that does not mean that they are mathematically accurate; it means you are applying logic to narrowing the bracket – rarely does my profession bother to add that narrative or even describe the sub-market search parameters.

Marketability 76

Marketability 76

Law 360 M&A

JUNE 14, 2023

The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

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Appraisers Blog

JUNE 14, 2023

In reply to Spencer Paul. that $/sf figure on the grid is pretty useless, and really should be eliminated, this calculation throws everything in – land, garages, pool, patio/deck, high-end upgrades, etc. into the calculation – remove everything not directly attributable to GLA and you might have something, but who would do that to the subject and ALL the comparables?

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Law 360 M&A

JUNE 14, 2023

With a looming July 18 deadline baked into their merger agreement, Microsoft Corp. and Activision Blizzard Inc. sought Wednesday to control the timeline on the Federal Trade Commission's newly filed California federal court lawsuit that they said "is the only decision that matters," not an ongoing agency in-house challenge.

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Appraisers Blog

JUNE 14, 2023

Paul, I was taught through Appraisal literature and classes to NEVER average. And reducing to a $/sf is nothing more that a modified cost approach which I hope we all agree is smoke and mirrors! If the sub-market search is accurate and I don’t mean a search by PRICE, then a good appraiser should not be afraid of pointing out the major difference in a narrative thereby having the adjustment process seen as only a vehicle towards finding the sweet spot within the bracket – not really r

Appraisal 76

Appraisal Marketability 76

Mckinsey and Company

JUNE 14, 2023

Public-sector organizations work best when they design from the perspective of the people they serve, use data well, and adapt quickly to capture productivity benefits.

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Appraisers Blog

JUNE 14, 2023

In reply to David. My name is Spencer and I never said anything about average. Median means the middle point. I don’t see how your process is better than mine. Not at all. It is not a modified cost approach. The appraiser selected sales based on similar size, feature, blah, blah. You have the statistical data range the market is willing to pay for similar improvements in a price per square foot.

Start-ups 76

Start-ups Appraisal Marketability 76

Mckinsey and Company

JUNE 14, 2023

The next generation of electrical/electronic architecture will play a vital role in the software-defined vehicles of the future—OEMs and chip makers need to be strategic in their choices.

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Appraisers Blog

JUNE 14, 2023

In reply to Chuck Minzenberger, SRA. People buy the houses based on the culmination of everything that is there. SO adjust in that manor. Let me guess, you adjust for decks, water features, type and amount of fencing, etc? How did you verify the sizes and materials use? What is the basis for comparison? I doubt it. The method that I’m presently using accounts for everything that is there as the market buy’s it.

Appraisal 76

Appraisal Marketability 76

Law 360 M&A

JUNE 14, 2023

Antitrust enforcers who successfully challenged a regional alliance between JetBlue and American Airlines told a Boston federal judge they were blindsided by the carriers' proposed final judgment, including a request to allow them to continue codesharing and frequent flyer agreements already deemed to violate the law.

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Appraisers Blog

JUNE 14, 2023

In reply to Spencer Paul. I do adjust for things like decks, views, water features, parking spaces, bath counts, upgrades, lot size, etc. and those adjustments are based on matched pair studies, and I have years and years of data in my workfiles, and am constantly adding to my data base – after I adjust for these items that I can actually quantify with market data, then I take a look at GLA – usually what’s left is pretty small – that figure on the grid might say $550/sf

Marketability 76

Marketability 76

Avanade

JUNE 14, 2023

As AI continues to evolve, IT leaders will need to stay up to date with the latest developments and invest in the right technologies and tools to stay ahead of the curve.

Technology 59

Technology 59

Appraisers Blog

JUNE 14, 2023

In reply to Chuck Minzenberger, SRA. I disagree. Again, how are you doing matched pair for decks because every house has different sizes, materials, condition, etc. for such features. Cost to replace on these feature does to reflect what the market is willing to do when buying a house that has them. Dollar in does not equate to dollar out. I’m not adjusted for decks, porches, water feature, etc because there is no basis to compare with the lack of consistent reporting of data in the MLS sh

Appraisal 76

Appraisal Marketability 76

Mckinsey and Company

JUNE 14, 2023

In finance and HR functions, targeted improvements in effectiveness can dramatically improve these units’ cost efficiency.

Finance 72

Finance 72

Appraisers Blog

JUNE 14, 2023

Paul, come on Median is MEDIAN AVERAGE, the middle instead of adding it all up and dividing by number of entries. Please don’t take us as fools. As for $/sf, it is a modified cost approach because you are taking the depreciated $/sf inclusive of land and land improvements and THEN as in the cost approach multiplying it times the subject GLA. This info has always been a part of education – where were you?

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Financial Times M&A

JUNE 14, 2023

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

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Appraisers Blog

JUNE 14, 2023

Do I understand what is being stated correctly? We shouldn’t have a variance for a difference in square footage when we adjust BUT we should round for the adjustment made? It seems like we have a double standard and that this is the writer’s personal preference or specific preference to their market areas. Always adjust for every square foot difference even if it is 5 square feet so that the reader isn’t confused?

Appraisal 76

Appraisal Marketability 76

Valutico

JUNE 14, 2023

Understanding Free Cash Flow: A Key Metric for Financial Analysis In the dynamic landscape of finance, it is essential to have a comprehensive understanding of a company’s financial health. One metric that provides valuable insights into a company’s ability to generate cash and meet its financial obligations is free cash flow. This article aims to provide a detailed exploration of free cash flow, including its definition, calculation methodology, significance in financial analysis, i

Dividends 52

Dividends Discounted Cash Flow Finance Intangible Assets 52