Sat.Jan 07, 2023 - Fri.Jan 13, 2023

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Subway's Potential Sale: Eat Fresh for $10 Billion or More

Benzinga

Sandwich chain Subway is exploring a potential sale that could value the company at more than $10 billion and has retained advisers. "As a privately held company, we don't comment on ownership structure and business plans," Subway said. "We continue to be focused on moving the brand forward with our transformational journey to help our franchisees be successful.

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How Important Is Corporate Governance? Evidence from Machine Learning

Harvard Corporate Governance

Posted by Anastasia Zakolyukina (University of Chicago Booth School of Business), Ian D. Gow (University of Melbourne), and David F. Larcker (Stanford Graduate School of Business), on Monday, January 9, 2023 Editor's Note: Anastasia Zakolyukina is an Associate Professor of Accounting and a William Ladany Faculty Scholar at University of Chicago Booth School of Business, Ian D.

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Expense Management Tips for CFOs and Controllers

Redpath

CFOs and Controllers do more than crunch numbers, manage a company’s budget, and protect its financial assets. They must capture key performance indicators (KPIs) that can inform the future course of an organization, however, they cannot achieve this without timely, accurate, and complete data.

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Professional Insights: Olivier Mege – RQR

IVSC

Olivier Mege Founder and CEO, RQR Olivier founded Real Quality Rating (RQR) after 15 years in real estate asset management in Asia and 5 years at MSCI as global head of real estate index research. He is a member of the Royal Institution of Chartered Surveyors (RICS), a member of the Chartered Alternative Investment Association (CAIA), a member of the IPF (Investment Property Forum), a master of the Japanese Association for Real Estate Securitisation (ARES, Japan) and a certified transactor of th

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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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One billion days lost: How COVID-19 is hurting the US workforce

Mckinsey and Company

COVID-19 may no longer be a pandemic, but the disease likely reduced the availability of the US workforce by as much as 2.6 percent in 2022—a burden on productivity that could last for years.

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Cross-Border M&A – 2023 Checklist for Successful Acquisitions in the U.S.

Harvard Corporate Governance

Posted by Adam O. Emmerich and Robin Panovka, Wachtell, Lipton, Rosen & Katz, on Saturday, January 7, 2023 Editor's Note: Adam O. Emmerich and Robin Panovka are Partners at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton memorandum by Mr. Emmerich, Mr. Panovka, Jodi J. Schwartz , David A. Katz , Ilene Knable Gotts , Andrew J.

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Del. High Court Sides With Insurers In $20M D&O Dispute

Law 360 M&A

The Delaware Supreme Court upheld a ruling that Stillwater Mining Co. doesn't have insurance coverage for its $20 million-plus legal bill stemming from a 2017 stockholder appraisal lawsuit, rejecting the company's argument that Montana law should apply to the dispute.

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Artificial intelligence in strategy

Mckinsey and Company

AI tools can help executives avoid biases in decisions, pull insights out of oceans of data, and make strategic choices more quickly. And that’s just the beginning.

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Prioritizing Human Capital — Modern Challenges and the Board’s Role

Harvard Corporate Governance

Posted by Carey Oven, Michael Stephan, and Reem Janho, Deloitte LLP, on Thursday, January 12, 2023 Editor's Note: Carey Oven is National Managing Partner at the Center for Board Effectiveness and Chief Talent Officer, Michael Stephan is US Human Capital national managing partner and Reem Janho is Senior Manager at Deloitte LLP. This post is based on a Deloitte memorandum by Ms.

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New Leaf Ventures Acquires High Profile, Bolsters Management Team With Two New Hires Including Xebra's CEO

Benzinga

New Leaf Ventures Inc. (OTCPK:NLVVF) (CSE:NLV) has completed the acquisition of High Profile Holdings Corp. by way of a statutory three-cornered amalgamation. Jason Garnett, CEO and director of Xebra Brands (OTCQB: XBRAF ) and director of High Profile, will be joining New Leaf’s board of directors and initially acting as chief strategy officer.

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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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Why Are Fannie, Freddie Peddling Exotic Junk-Rated Risk Swaps?

Appraisers Blog

Meanwhile, cratering home prices are eroding demand for the junk-rated credit transfers. As mortgage giants Fannie and Freddie bend the knee to their political overlords, they securitize ever riskier loans. It’s a sign of the times. But while no one was looking, the twins – who wield the full faith and credit of the U.S. government – began quietly offloading this surplus risk in the form of so-called “credit-risk transfers.

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Diversity, Equity and Inclusion Lighthouses 2023

Mckinsey and Company

Leaders need clarity on what works to improve diversity, equity, and inclusion. Our 2023 report shows success factors that contributed to significant, quantifiable, scalable, and sustainable DEI impact.

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Investment Stewardship Global Principles 2023

Harvard Corporate Governance

Posted by Sandy Boss, John McKinley and Michelle Edkins, BlackRock, Inc., on Friday, January 13, 2023 Editor's Note: Sandy Boss is Global Head of Investment Stewardship, John McKinley and Michelle Edkins are Managing Directors at BlackRock, Inc. This post is based on their BlackRock memorandum. Introduction to BlackRock. BlackRock’s purpose is to help more and more people experience financial well-being.

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WWE Retains Restructuring Specialists For Strategic Review

Benzinga

World Wrestling Entertainment Inc (NYSE: WWE ) has retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support its review of strategic options. The company’s shares skyrocketed recently on reports about a deal with Saudi Arabia’s Public Investment Fund, Full story available on Benzinga.com.

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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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It’s Theft of Services!

Appraisers Blog

It’s theft of services to constantly think it’s okay to drain appraisers time and resources as if we’re advocates of the AMC; all our time and energy constantly available to AMCs so they can shop us to infinity on a per diem assignment pattern forever to increase their own profits. They condition appraisers to become advocates of the AMC or you don’t get anything.

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What is Davos?

Mckinsey and Company

Davos, Switzerland, is where the World Economic Forum holds its annual meeting. Delegates from many sectors converge for several days of talks and meetings to address urgent global issues.

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Top 5 SEC Enforcement Developments

Harvard Corporate Governance

Posted by Haimavathi V. Marlier, Jina Choi, Michael D. Birnbaum, Morrison & Foerster LLP, on Sunday, January 8, 2023 Editor's Note: Haimavathi V. Marlier , Jina Choi , and Michael D. Birnbaum are Partners at Morrison & Foerster LLP. This post is based on their Morrison & Foerster memorandum. we summarize below some of the most important SEC enforcement developments from the past month.

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OKR Examples For Non-Profits

Rhythm Systems

Often, people think of OKRs as a tool for tech companies. This is not surprising since the goal-setting method was developed and first used by companies like Intel and Google. However, the application of rigorous goal setting and strategy execution is beneficial for organizations in any industry, including non-profit organizations.

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Why Are Paya Shares Trading Soaring Today

Benzinga

Canadian fintech company Nuvei Corp (NASDAQ: NVEI ) agreed to scoop Paya Holdings Inc (NASDAQ: PAYA ), a leading provider of integrated payment and commerce solutions in an all-cash transaction at $9.75 per share for total consideration of $1.3 billion. The purchase price is a 25.2% premium on Paya's January 6 closing price of $7.79. Nuvei's Chair and CEO, Philip Fayer, said, "It will accelerate our integrated payment strategy, diversify our business into key high-growth non-cyclica

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Is virtual care delivering on its promise of improving access?

Mckinsey and Company

Although virtual-care adoption has substantially increased, healthcare organizations can pursue additional opportunities to reduce disparities in access.

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US M&A Levels Remain Healthy

Harvard Corporate Governance

Posted by Maxim Mayer-Cesiano, and Jonathan E. Berger, Skadden, Arps, Slate, Meagher & Flom LLP, on Monday, January 9, 2023 Editor's Note: Maxim Mayer-Cesiano is a Partner and Jonathan E. Berger is an Associate at Skadden, Arps, Slate, Meagher & Flom LLP. This post is based on their Skadden memorandum. Related research from the Program on Corporate Governance includes Are M&A Contract Clauses Value Relevant to Target and Bidder Shareholders?

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Conducting Cybersecurity Risk Assessments Guide: The Complete Introduction

Audit Board

Cybersecurity risk assessments are a means for organizations to assess risks to their information assets and are a core requirement of most cybersecurity frameworks. However, specific guidance on how to conduct these assessments is typically not included in framework requirements. This is often by design, as the intent is to encourage organizations to build a risk management program that is unique to the type of business being conducted and the type(s) of data being processed.

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Blaze Bolsters E-Commerce Capabilities With Tymber, Plans Distribution Throughout North America

Benzinga

Blaze , a cannabis software suite and point-of-sale (POS) platform for cannabis dispensaries and delivery services, scooped up cannabis e-commerce provider Tymber for an undisclosed price. Founded in 2017 by tech entrepreneurs and cannabis company operators Blaze builds tools that serve the technology needs of successful dispensaries. "Acquiring Tymber brings its unparalleled online shopping experience into our ecosystem and allows us to meet the cannabis retailer.

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IRS Proposes Permanent Relief From Physical Presence Requirement for Certain Electronic Signatures

ThomsonReuters

Use of an Electronic Medium to Make Participant Elections and Spousal Consents, Prop. Treas. Reg. Sec. 1.401(a)-21, 87 Fed. Reg. 80501 (Dec. 30, 2022). Available at [link]. The IRS has released proposed regulations that would permanently allow remote witnessing of certain retirement plan and benefit elections, including those involving spousal consent, that are required under the Code to be witnessed by a plan representative or notary public.

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Sustainable finance: The road so far and a look ahead

Harvard Corporate Governance

Posted by Charles McConnell, Xuan Jin, White & Case LLP, on Tuesday, January 10, 2023 Editor's Note: Charles McConnell is a Partner and Xuan Jin is Counsel at White & Case LLP. This post is based on their White & Case memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) and Will Corporations Deliver to All Stakeholders?

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Innovation: Your solution for weathering uncertainty

Mckinsey and Company

When the times get tough, the tough get innovative and create paths to future growth.

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Johns Hopkins Professor Steve Hanke Blames Biden's 'Blunders,' Fed For Plummeting Deal Activity And 'Worse Off' Household Finances

Benzinga

Steve Hanke , a professor of Applied Economics at Johns Hopkins University , has criticized the Federal Reserve’s monetary policy and President Joe Biden’s administration for a sharp drop in deal activity last year. Hanke cited a Bloomberg article from December, which highlighted aggregate deal value declines of 50% in China and 45% in the U.S.

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WHY DEALS FALL APART (and what to do about it)

A Neumann & Associates

The process of selling your business can be a very rewarding experience – both financially and in terms of lifestyle for you and your family. If handled properly, executing a successful sale to a 3rd party can certainly meet all ownership goals and benefit the organization (including its valued employees) moving forward. However, if improperly handled, an attempt at selling a business can be a nightmare fraught with complex challenges that will surely doom the effort to fail.

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SEC Rule 14a-8 Shareholder Proposals: No-Action Requests, Determinants, and the Role of SEC Staff

Harvard Corporate Governance

Posted by Gregory Burke (Duke University), on Thursday, January 12, 2023 Editor's Note: Gregory Burke is a fifth-year accounting Ph.D. candidate at Duke University’s Fuqua School of Business. This post is based on his article forthcoming in the Journal of Accounting and Public Policy. Background. Since 1947, no-action letters under Securities and Exchange Commission (SEC) Rule 14a-8 have allowed SEC staff members to regulate shareholder voice upon management’s request, acting as intermediaries b

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Financing the net-zero transition: From planning to practice

Mckinsey and Company

Financial institutions will play a leading role in the transition to a net-zero economy. To maximize the opportunity, they must make fundamental changes across portfolios and organizations.

Finance 101
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Coinbase Discloses Restructuring Plan Amid Macro Headwinds, Pfizer Rebuts Generic Version Of COVID-19 Oral Treatment In China, Microsoft Mulls $10B Investment In ChatGPT Owner: Today's Top Stories

Benzinga

Benzinga. Coinbase Bows Down To Macro Headwinds, To Let Go Of 950 Employees. Coinbase Global, Inc (NASDAQ: COIN ) disclosed a restructuring plan letting go of 950 employees, helping it reduce its operating expenses by 25% amid the crypto meltdown. Coinbase looks to incur $149 million - $163 million in total restructuring expenses, consisting of $58 million - $68 million in cash charges related to employee severance and other termination benefits.

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Private Equity: Why an integrated ecosystem is a must have

Avanade

Remaining ahead of the curve and being flexible isn't always easy for private equity firms but efficient, lean & integrated technology choices can help.

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Weekly Roundup: January 6-12, 2023

Harvard Corporate Governance

Posted by the Harvard Law School Forum on Corporate Governance, on Friday, January 13, 2023 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of January 6-12, 2023. 2023 Annual Letter to Boards. Posted by Pamela Marcogliese, Freshfields Bruckhaus Deringer LLP, on Friday, January 6, 2023. Tags: Activism , Corporate governance , Executive Compensation , Fiduciary duties , M&A , Privacy , Risk oversight.

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Toward a more orderly US energy transition: Six key action areas

Mckinsey and Company

The US drive to decarbonize is at an inflection point. Critical actions could accelerate the transition while enhancing energy affordability and supporting inclusive economic growth.

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