Tue.May 07, 2024

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Stakeholder Governance and the Eclipse of Shareholder Primacy

Harvard Corporate Governance

Posted by Martin Lipton, Wachtell, Lipton, Rosen & Katz, on Tuesday, May 7, 2024 Editor's Note: Martin Lipton is a Founding Partner at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton memorandum by Mr. Lipton and Kevin S. Schwartz. For decades, advocates of “shareholder primacy” as the North Star of corporate governance have steered our leading corporations and our Nation’s economic engine perilously off-course.

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The rapid evolution of payments in Latin America

Mckinsey and Company

Cash is no longer Latin Americans’ preferred way to pay, as debit cards, credit cards, and mobile payments have gained fans, presenting opportunities for financial-services companies.

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SEC and NAM appeal decision holding proxy advisor rule amendments unlawful

Harvard Corporate Governance

Posted by Cydney Posner, Cooley LLP, on Tuesday, May 7, 2024 Editor's Note: Cydney Posner is Special Counsel at Cooley LLP. This post is based on her Cooley memorandum. You probably remember the saga about the SEC’s rules regarding proxy advisory firms? Back in 2019, the SEC issued interpretive guidance that proxy advisory firms’ vote recommendations were, in the view of the SEC, “solicitations” under the proxy rules and subject to the anti-fraud provisions of Rule 14a-9.

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Author Talks: The business of ethics for leaders

Mckinsey and Company

How should CEOs approach corporate values? When should they speak out on contentious issues? Alison Taylor breaks down how businesses can do the right thing—even when it’s not easy to.

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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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The Shareholder Franchise, Transformative Investor Changes, and Motivational Misalignments

Harvard Corporate Governance

Posted by Henry T. C. Hu (University of Texas) and Lawrence A. Hamermesh (Widener University Delaware Law School), on Tuesday, May 7, 2024 Editor's Note: Henry T. C. Hu is the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas Law School, and Lawrence A. Hamermesh is an Emeritus Professor at Widener University Delaware Law School.

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The McKinsey Crossword: Author Talks | No. 179

Mckinsey and Company

Sharpen your problem-solving skills the McKinsey way, with our weekly crossword. Each puzzle is created with the McKinsey audience in mind, and includes a subtle (and sometimes not-so-subtle) business theme for you to find. Answers that are directionally correct may not cut it if you’re looking for a quick win.

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More Trending

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Comment on Leaving the Appraisal Profession by Flash

Appraisers Blog

In reply to Srig. Ninety Five percent of my business is Non Lender Work. Estates, Inherited Homes, Divorce, Legal Work, Attorneys and Expert Witness Testimony. With clients in the Boomer Generation calling there is still 10-20 years of work just in Estate Work out there so I am busy with 3 reports on my desk now all non lender. Plan your work or someone else has a plan for you.

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Microsoft's Xbox Closes 4 Video Game Studios In Bethesda Restructure

Benzinga

Microsoft Corp. (NASDAQ: MSFT ) is shuttering several Bethesda studios and merging at least two — Roundhouse Games and ZeniMax Online Studios — sending shockwaves through the gaming industry. What Happened : According to IGN, the closures affect Arkane Austin , Tango Gameworks , and Alpha Dog Studios and will likely cause the cancellation of promised updates for various games.

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Comment on Leaving the Appraisal Profession by Srig

Appraisers Blog

In reply to Flash. How is “It’s only going to get busier with more people leaving industry and it should be busy in 2024 during a Presidential Election.” working out for you right now (5/8/24)? Bidenomics?

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Venable Trade Co-Chair Shares Hot Takes On US Steel-Nippon

Law 360 M&A

Back in December, Venable LLP partner Ashley Craig, co-chair of the firm's international trade group, spoke with Law360 just after U.S. Steel disclosed its agreement to be sold to Nippon Steel. Now, he shares his thoughts on the latest developments, including the White House coming out forcefully against the deal and the U.S. Department of Justice launching a probe into it.

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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 & Freddie’s AI Appraisal Photo Recognition by Baggins

Appraisers Blog

[link] Patent research. On the ‘Search’ drop down menu, click assignee name. / On the ‘For’ drop down menu, enter; Fannie, zillow, pick a company. The fluid nature of the software, the differences between avm’s vs the appraisers acceptable and recognized valuation methods approach. How various functions to come about the end avm value result are fluid and flexible, able to alter result output based on a myriad of algorithmic settings priorities alongside random data

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$55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

Law 360 M&A

An Illinois federal judge gave final approval Monday to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Baggins

Appraisers Blog

In reply to JL. Yep, I posted a similar document the other day in the redlining thread, along with a patent document which describes down to the minute details, how the lenders automatic systems classify some groups of people and not others in clusters, including demographic, spending habits, community factors, earnings, spending, and social media presence.

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MultiPlan, Insurance Cos. Accused Of Algorithmic Collusion

Law 360 M&A

A medical provider has lodged a proposed class action in Illinois federal court accusing MultiPlan and major insurance companies, including UnitedHealth, Aetna, Kaiser Permanente and Cigna, of using pricing tools to systematically underpay out-of-network providers.

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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 & Freddie’s AI Appraisal Photo Recognition by Baggins

Appraisers Blog

In reply to Joseph. ‘Intended users does not include artificial interface software or any such AI based interface, or quantum computing systems.’ Something like that. Attornies advisement is going to be basically irrelevant, as states and federal are still racing to catch up with some form of regulatory structure. Meanwhile; The saga of AI regulation proposals in Colorado continues on.

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Alight Inks Deal With Activist Starboard For 2 New Directors

Law 360 M&A

Alight Inc., a cloud-based human capital and technology services provider, said Tuesday it has agreed to appoint two new independent directors to its board through an agreement with activist investor Starboard Value LP.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Joseph

Appraisers Blog

AI is not perfect, but FannieMae doesn’t care about that, their ONLY goal is to get rid of the appraisers any way they can. I don’t know why some government office is keeping better watch on Fannie; oh wait, it’s too big to fail, another bailout is on the horizon.

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Sony's Bold $26B Paramount Bid Raises Eyebrows: Can They Finance It?

Benzinga

Sony Group Corp’s (NYSE: SONY ) shares experienced a significant drop, the largest in nearly three months, following its joint $26 billion bid with Apollo Global Management Inc (NYSE: APO ) to purchase American multinational mass media and entertainment conglomerate Paramount Global (NASDAQ: PARA ). The offer has sparked concerns about Sony’s financial capacity to handle the acquisition, as the proposed deal exceeds Sony’s current cash reserves.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Eric Kretz

Appraisers Blog

I couldn’t care less about FNMA/Freddie scanning my photos, they do whatever makes them feel funny. The concern is if A.I. doesn’t like something in the appraiser photos and doesn’t concur with the quality/condition or materials reported, it gets sent to your state licensing board. Thats the real issue. Are the complaints sent after a review or is it an automated process without a human checking the A.I. results?

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How to manage your business reputation in a crisis

JPAbusiness

Whether your business turnover is $300k, $3m, $300m or $3b, your business’s brand and reputation is integral to its value. So how can you avoid and manage risks that may harm those critical elements of your business? To answer that question – and many others – I invited crisis management expert and brand strategist Richard Amos (pictured) from Royce Communications to join me on the latest Let’s Talk Business podcast.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Baggins

Appraisers Blog

In reply to Mary T Thompson. Pressuring appraisers works, and works very well. Now they appear to be running afoul of GLB laws on privacy. Turn down your camera settings to small kb’s. This news may correlate to the active development of the over valuation tool, also soon to be released. Have you ever checked out what’s actually happening with AI systems?

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Benchmark International Has Successfully Facilitated the Transaction Between Curie Environmental Services, LLC and Tradebe Environmental Services, LLC

Benchmark Report

Benchmark is pleased to announce the transaction between Curie Environmental Services, LLC and Tradebe Environmental Services, LLC. This move was driven by the vision of strategic expansion and the significant value that Curie Environmental Services, LLC brings.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Baggins

Appraisers Blog

In reply to Will. Bureaucrats installing AI systems at the government level; We will add your biological and technical distinctiveness to our own. Your culture will adapt to service us. Resistance is futile.

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Las Vegas Cannabis Powerhouse Planet 13 To Close $49M Florida Expansion Deal After Achieving Another Milestone

Benzinga

Planet 13 Holdings Inc. (CSE: PLTH ) (OTCQX: PLNH ) closed its previously announced sale of Planet 13 Florida, Inc. on Monday following the previously announced approval from the Florida Office of Medical Marijuana Use in April. What Happened The Las Vegas-based vertically-integrated multi-state operator (MSO) sold 100% of the equity interests of Planet 13 Florida, which owns a medical marijuana treatment center license issued by the Florida Department of Health to SGW FL Enterprises, LLC , in e

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Spencer Paul

Appraisers Blog

In reply to Mary Cummins. Agreed, but if the value didn’t come in, I would assume they would through anything and everything at us to make comment on, or if the UW is bored for whatever reason.

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M&A will not help with looming copper shortage, warns Barrick chief

Financial Times M&A

Amid BHP approach for Anglo, prolific dealmaker says consolidation does not guarantee more production

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Spencer Paul

Appraisers Blog

In reply to Mary T Thompson. No one likes accountability, or truth when it isn’t “their” truth. This notion of “my truth” is nothing more the self deception. There is a cognitive dissonance between what they know to be right and what they want. So, in the efforts to obtain what they want, they have to “make up” stuff that sounds logical and reasonable to bridge that gap.

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When Partners Pay Expenses Related to the Business

Machen McChesney

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. They may also incur expenses for: transportation to get to and from client meetings, professional publications, continuing education, and home office.

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Spencer Paul

Appraisers Blog

In reply to bob jones. And yet FNMA also uses the census block adjustments for location on the Valuation Acceptance and Appraisal waivers. Who’s calling whom bias and socioeconomics and ethnic make-up?

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Growing Your Business With a New Partner: Here Are Some Tax Considerations.

Machen McChesney

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate : You and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to the business. Assume that your basis in your partnership interests is sufficient so that the decrease in your portions of the partnership’s liabilities because of the new partner’s entry won’t reduce your basis

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by Spencer Paul

Appraisers Blog

In reply to Eric Kretz. Do you want to know something…The appraisal board member in the state of WA of folks that could not pass the AQB qualifying test. None are appraiser’s, so all the have to go on is did we violate USPAP. IN this case, they would be very hard pressed to find anything that would be in violation of USPAP. I’m not afraid of the love letters from FNMA.

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CVC agrees sale of troubled Africa tea estates business

Financial Times M&A

PE group divesting less than three years after acquiring plantations from Unilever

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Comment on Fannie & Freddie’s AI Appraisal Photo Recognition by cassandra

Appraisers Blog

Well, if I get a complaint, things will slow WAYYYY down in my area. I cover 8 counties. I got off the VA last year because I was tired of the constant scope expansions, tidewaters and reviewers being on different pages. I was the only appraiser in 3 of those counties and 1 of 2 in 2 others. I hear VAs are taking 2 months to get to now. Oh well. Same with This complaint stuff.

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Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

Law 360 M&A

Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

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