Fri.Nov 11, 2022

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Weekly Roundup: November 4-11, 2022

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, November 11, 2022 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of November 4-11, 2022. Remarks by Chair Gensler Before the Practising Law Institute’s 54th Annual Institute on Securities. Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Thursday, November 3, 2022.

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Living longer in better health: Six shifts needed for healthy aging

Mckinsey and Company

As many individuals live well past retirement age, stakeholders are examining how interventions, data, and innovation can transform aging.

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Fair Value as Process: A Retrospective Reconsideration of Delaware Appraisal

Harvard Corporate Governance

Posted by William Bratton (University of Pennsylvania), on Friday, November 11, 2022 Editor's Note: William W. Bratton is Nicholas F. Gallicchio Professor of Law Emeritus at the University of Pennsylvania Carey Law School. This post is based on his recent paper. This post is part of the Delaware law series ; links to other posts in the series are available here.

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What's Going To Happen To All The Companies FTX Bought?

Benzinga

FTX founder and former CEO Sam Bankman-Fried announced via Twitter Friday that FTX US, FTX Trading, quantitative research firm Alameda Research and 130 additional affiliated companies to the FTX Group have commenced voluntary proceedings under Chapter 11 bankruptcy. That begs a very simple question: what’s going to happen to all the companies FTX bought?

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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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Illustrative Disclosure for the SEC’s New PVP Rules

Harvard Corporate Governance

Posted by Mike Kesner, Linda Pappas, Pay Governance LLC, on Friday, November 11, 2022 Editor's Note: Mike Kesner is Partner and Linda Pappas is Principal at Pay Governance LLC. This post is based on their Pay Governance memorandum. Related research from the Program on Corporate Governance includes Paying for long-term performance (discussed on the Forum here ); Pay without Performance: The Unfulfilled Promise of Executive Compensation both by Lucian Bebchuk and Jesse M.

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BREAKING: FTX Files For Bankruptcy After Stunning Collapse In Value

Law 360 M&A

The world's second-largest cryptocurrency exchange filed for bankruptcy in Delaware court Friday according to a company press release after it failed to secure enough new liquidity to offset a stunning collapse in value last week, becoming the latest digital asset platform to succumb to volatility in the cryptocurrency market. It listed at least $10 billion in liabilities.

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Twitter Users Create Havoc by Impersonating Brands

NYT M&A

The social media service, which is undergoing changes from its new owner Elon Musk, has descended into a messy swirl of spoof messages and parody accounts.

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Thomson Reuters To Scoop This Tax Software Provider For $500M

Benzinga

Thomson Reuters Corp (NYSE: TRI ) agreed to acquire SurePrep, LLC , a U.S.-based leader in 1040 tax automation software and services, for $500 million in cash. Thomson Reuters expects to receive an estimated tax benefit with a net present value at the time of purchase of $60 million as part of the transaction. Founded in 2002, SurePrep helps accounting firms increase productivity.

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114 down, 10 million to go: The Global Lighthouse Network’s mission

Mckinsey and Company

Global Lighthouse Network members show that Fourth Industrial Revolution technologies help to deliver better workforce engagement, improved sustainability, and increased productivity.

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Swiss PE Firm Scoops Data Center Platform EdgeCore Digital

Benzinga

Swiss private investment company Partners Group Holding AG invested up to $1.2 billion in U.S. data center operator EdgeCore Digital Infrastructure , the private equity firm told Reuters. Partners Group will use the fund to acquire a majority stake in EdgeCore and help it build out new data center sites across the U.S., the latest of Partners' investment in data center assets.

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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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The Tax Impact of Remote Employees On Your Business

Gross Mendelsohn

One of the unexpected consequences of the COVID-19 pandemic is the proliferation of remote employees. If your business has remote employees, there are tax consequences and rules you should be aware of.

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Inflation: How defense companies can support national security

Mckinsey and Company

A solid understanding of risk exposure and the contract portfolio can help defense companies support national-security interests.

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Appraisers Are Historians

Appraisers Blog

It is gratifying when appraisers are correct, and the AVMs burn; unless you invested in their stocks. I mean no disrespect to the modelers of the Automated Valuation Models (AVMs) or to Zillow for relying on their AVMs. As an appraiser since the 80s, I have yet to find a computer that can tell me if I want vanilla or chocolate ice cream. Does the buyer want more acres, or less grass to cut?

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Estée Lauder nears $2.8bn deal to buy Tom Ford

Financial Times M&A

Cosmetics group in exclusive talks after beating rival bidder Kering

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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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Inside Elon Musk’s Takeover of Twitter

NYT M&A

Mr. Musk ordered immediate layoffs, fired executives by email, laid down product deadlines and has transformed the company.

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A confluence of social and economic factors have driven outsized returns for multifamily investors

Mckinsey and Company

New data illuminates the structural factors driving multifamily performance.

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It's Bobby Bonilla (Edwin Diaz) Day!

Essentials of Corporate Finance

The New York Mets famously deferred $5.9 million in salary payable to Bobby Bonilla in 2000, instead paying the former $1.2 million per year from 2011 through 2035. Now, the Amazing Mets are at it again. The team just signed a deal with relief pitcher Edwin Diaz that was announced as a five-year, $102 million contract. Under the terms of the contract, the team will defer $5.5 million per year in 2023, 2024, and 2025, then $5 million per year in 2026 and 2027.

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Rough Quarter in a Rough Year

Auto Dealer Valuation Insights

Most of the 9/30 quarterly results are in, and public RIA performance was all over the map. Mostly, it was a rough quarter in a rough year. Sagging AUM led to revenue cuts which dropped straight to the bottom line. Some firms mitigated their downside by cutting bonus compensation and marking down earnout payments for acquisitions. We did a survey of a cross-section of asset and wealth management.

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9 Things a Lender Cannot Consider Before Giving You a Loan

Financial Analyst Insider

When money’s tight, one tiny, unexpected expense has the power to topple your budget. So, like many people in similar positions, you look into short. The post 9 Things a Lender Cannot Consider Before Giving You a Loan appeared first on Financial Analyst Insider.

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Social Security benefits increasing in 2023

Henry Horne

Retirees will see an historic increase in Social Security and Supplemental Security Income (SSI) benefits in January when the annual cost of living adjustment kicks in. Don’t miss: PTET and potential administrative headaches In 2023, benefits will jump 8.7% with an average increase of more than $140 per month. This is the largest bump in … Keep Reading.

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6 Things You Probably Didn’t Know About a Life Insurance Policy

Financial Analyst Insider

It took me a while to get life insurance coverage. I had thought about it over a period of two years – these thoughts were. The post 6 Things You Probably Didn’t Know About a Life Insurance Policy appeared first on Financial Analyst Insider.

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Transferring Wealth as Part of a Well-Thought-Out Plan

Merrimack Business Appraisers

The Window of Opportunity is Closing Many trusted advisors, including wealth managers, financial planners, accountants, and estate attorneys, refer their clients to Merrimack Business Appraisers to prepare a business valuation as part of a broader plan to transfer wealth and manage tax liabilities. We continue to see increased activity in transferring shares through gifting and […].

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45Q Tax Credit Boosts Values Of Carbon Sequestration Projects, Yet Most Still In Development

Auto Dealer Valuation Insights

Approximately half of the Inflation Reduction Act’s budget ($369 billion) has been authorized for spending on energy and climate change. One of the components buried in that act was the supercharging of an existing tax credit—45Q. This tax credit expanded from $50 per ton of sequestered CO2 to $85 per ton. What does this mean for potential carbon capture sequestration projects around the country?

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Elon Musk Has No Idea What He’s Doing at Twitter

NYT M&A

The chaos and confusion of Musk’s short reign is far worse than anything I’d imagined.

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Survey of internal audit practitioners

Norman Marks

I have a short questionnaire that I would appreciate those of you who are internal auditors completing. I will share the results next week. You can find it here. If there are issues you would like included in a future survey, please let me know.

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Schneider Electric increases offer for Aveva to almost £10bn

Financial Times M&A

French industrial group raises bid for UK software developer after pushback from shareholders

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WORKING CAPITAL VS. CASHFLOW EXPLAINED

Equilest

Have you wondered what the difference is between WORKING CAPITAL and CASHFLOW? The answer is in our blog post. . . Good accounting is a priority whether you’re a small business or a Fortune 500. Understanding your company's financial health helps you make more informed decisions, including differentiating between working capital and cash flow. .

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FTAI Aviation Ltd. Announces Closing of Merger Transaction

Benzinga

NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI ), a Cayman Islands exempted company ("FTAI" or the "Company"), announced today the closing of a previously announced merger transaction by and among FTAI, Fortress Transportation and Infrastructure Investors LLC and FTAI Aviation Merger Sub LLC. The execution of a definitive merger agreement outlining the terms of the transaction was initially announced on August 15, 2022.

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Armada Acquisition Corp. I Extends Deadline To Consummate Business Combination with Rezolve

Benzinga

Armada Acquisition Corp I (NASDAQ: AACI ) announced that its Board has approved a 3-month extension to consummate the business combination with Rezolve Limited to February 17, 2023. The sponsor has deposited an additional $1.5 million into Armada's Trust Account, with funds transferred on November 10, 2022. Armada executed Amendment to Business Combination Agreement with Rezolve and continues to work towards completing a business combination.

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