Mon.Jun 03, 2024

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Pro-ESG Shareholder Proposals Regaining Momentum in 2024

Harvard Corporate Governance

Posted by Subodh Mishra, ISS STOXX, on Monday, June 3, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Jun Frank. Governance is back on focus this proxy season, with both the volume and support on proposals aiming to enhance shareholder rights and companies’ governance practices gaining steam.

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Ford Taps EV Specialist As Future CFO

Global Finance

Ford Motor, one of the pillars of the US auto industry, has mined the electric vehicle subsector for its next CFO. Sherry House, 52, who becomes Ford’s vice president of finance on June 3, joins from Lucid Motors, where she spent three years helping to deploy its first luxury electric vehicle. John Lawler, Ford’s current CFO, who has been promoted to vice chair, will chaperone House in transitioning to the CFO role in 2025.

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Cybersecurity Amendments to Reg S-P

Harvard Corporate Governance

Posted by Charu Chandrasekhar, Johanna Skrzypczyk and Suchita Mandavilli Brundage, Debevoise & Plimpton LLP, on Monday, June 3, 2024 Editor's Note: Charu Chandrasekhar is a Partner Johanna Skrzypczyk is Counsel, and Suchita Mandavilli Brundage is an at Associate Debevoise & Plimpton LLP. This post is based on a Debevoise memorandum by Ms. Chandrasekhar, Ms.

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Polls Suggest Right-Wing Surge In EU Elections

Global Finance

If polls are any indication, French President Emmanuel Macron is on track to be the biggest loser of the upcoming European Parliament elections. On June 6 and 9, some 400 million citizens in all 27 EU member states will be eligible to choose their representatives in the continental legislative body. Not only has Macron’s Renew centrist coalition consistently polled well behind the far-right National Rally party led by the new enfant terrible of French politics, Jordan Bardella, but now it is sta

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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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ESG & Executive Remuneration in Europe

Harvard Corporate Governance

Posted by Marco Dell'Erba (University of Zurich), and Guido Ferrarini (University of Genoa), on Monday, June 3, 2024 Editor's Note: Marco Dell’Erba is a Professor of Financial Market Law and Corporate Law at University of Zurich and Guido Ferrarini is Emeritus Professor of Business Law at University of Genoa. This post is based on their recent article forthcoming in the European Business Organization Law Review.

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Trout CPA Welcomes 14 Accounting Interns for Summer 2024

Trout CPA

Trout CPA is thrilled to welcome 14 accounting interns for the summer of 2024. These interns will have the opportunity to gain invaluable experience and insights as they work alongside our seasoned professionals, equipping them with the skills and tools they need to thrive in their future careers. This year's Accounting Internship Program runs from Monday, June 3rd through Thursday, July 25th.

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Kroger, Albertsons Can't Get More Info On FTC Markets

Law 360 M&A

An Oregon federal judge denied Kroger and Albertsons' requests for more information on the markets at issue in the Federal Trade Commission's ongoing attempt to block their merger, saying the companies' request is premature and excessively broad.

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Comment on AMCs Violating TILA and C&R Fee Clauses by Brian

Appraisers Blog

not sure how to get this out – but The CFPB encourages comments and data from the public and all interested stakeholders. Comments must be received within 60 days of the request for information being published in the Federal Register. on this from 5/30/2024 press@cfpb.

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ASC 606 and Accounting for Uninstalled Materials

Redpath

Navigating the intricacies of construction finance has always been challenging, but ongoing shifts in the global supply chain constantly add new layers of complexity. With the lingering effects of supply chain disruptions from the pandemic, construction companies are finding themselves grappling with a significant issue: uninstalled materials. These materials, purchased in advance to mitigate delays, now present unique challenges in financial planning and reporting, particularly regarding compli

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3 Firms Rep As Waste Management Inks $7.2B Stericycle Buy

Law 360 M&A

Waste Management Inc. has agreed to buy medical waste company Stericycle at an enterprise value of about $7.2 billion, inclusive of approximately $1.4 billion of debt, the companies said in a statement Monday.

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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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Established Small Businesses: Stay Lean or Look to Expand?

BV Specialists

You’re a small business owner who has spent years developing and growing your company from a start-up to a fully established operation. Now that you have reached your initial long-term goal of becoming a successful enterprise, you can start thinking about the next chapters. Are you content to maintain the current profile of the business and hope for consistent revenue with modest growth over the next 5+ years, or potentially capitalize on your expanded knowledge, market share, and client base to

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Comment on AMCs Billing Scheme, Hidden Profits & Deceptive Practices by Brian

Appraisers Blog

not sure how to get this out – but The CFPB encourages comments and data from the public and all interested stakeholders. Comments must be received within 60 days of the request for information being published in the Federal Register. on this from 5/30/2024 press@cfpb.

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Hedge fund short sellers burnt by flurry of UK takeover bids

Financial Times M&A

Managers scale back or ditch bets against London-listed stocks after M&A activity drives sharp share price rises

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Baggins

Appraisers Blog

In reply to Brian. [link] [link] _ How does the CFPB share complaint data? We’ll share your complaint with the company so it can review and respond to the issues you’ve described. _ Good luck. Mortgage lending is only a side focus, not likely to get much attention. The CFPB will apparently tattle on any and every appraiser to the same companies the appraiser complains against, publishing official complaints with the appraisers name stated, sent directly to the same company the appraiser complain

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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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Waste Management Nears $7B Deal To Acquire Stericycle: Report

Benzinga

Waste Management Inc (NYSE: WM ) is reportedly nearing a huge acquisition deal to purchase medical-waste-disposal company Stericycle Inc (NASDAQ: SRCL ) for approximately $7 billion, inclusive of debt. The acquisition of Bannockburn, Illinois-based Stericycle, which carries over $1 billion in debt, might be announced as early as Monday, according to a report from the WSJ.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Juliana Homstead

Appraisers Blog

This is very good news for Appraisers, and I say that with caution as someone who recently retired from the profession. I was a research scientist turned appraiser, and spent the previous 20 years in the profession. I prided myself on detailed analysis of complex properties and was always up for a challenge. It became exhausting as I realized that the majority of clients could care less about your detailed analysis and rarely read the comments provided in the report addendum.

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Why Is Paramount Global Stock Trading Higher On Monday?

Benzinga

Paramount Global (NASDAQ: PARA ) is considering Skydance Media's revised offer to purchase National Amusements and merge with Paramount Global. The offer provides nonvoting shareholders an option to cash out at a premium. Last week, Skydance, led by David Ellison, proposed buying up to a certain number of nonvoting Paramount shares at roughly $15 each, representing a 26% premium, the Wall Street Journal reported.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Retired Appraiser

Appraisers Blog

Knowing your value is slightly irrelevant when you have 300 starving appraisers willing to undercut your quote. It becomes massively irrelevant when the keys to the ordering system are handed to criminals (AMCs) who use reverse auctions to disperse jobs to the lowest bidder while simultaneously elevating the cost of the appraisal for maximum profit.

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Why Is Boat Dealership Giant MarineMax's Stock Soaring Today?

Benzinga

Shares of boat dealer MarineMax Inc. (NYSE: HZO ) are trading higher premarket Monday. OneWater Marine Inc. (NASDAQ: ONEW ) is reportedly said to be in advanced discussions to acquire MarineMax. OneWater has proposed an all-cash offer of $40 per share for MarineMax after months of private negotiations, according to a report from Bloomberg. The merger would result in a combined company valued at approximately $2.5 billion, including debt.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Eric Kretz

Appraisers Blog

“Chance appears to be challenging the appraisal profession to assert the true worth of their services and to resist the pressures that often drive down appraisal fees to unsustainable levels” Are you sh*tting me? The cheerleading comments of Cindy Chance are condescending and insulting. Appraisers know our worth. Why are appraisers leaving the industry?

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Nucor Expands Beyond Steelmaking With Acquisition Of Rytec: Details

Benzinga

Nucor Corporation (NYSE: NUE ) shares are trading lower after the company inked a deal to acquire Rytec Corporation in an all-cash transaction valued at $565 million. The acquisition price equates to around 12.5 times Rytec’s estimated 2024 EBITDA. Rytec manufactures high-speed Spiral rigid doors for various industries and durable fabric doors for specialized applications.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by PIP

Appraisers Blog

In reply to Eric Kretz. Cindy obviously is not a working appraiser. If she is, I’m shocked at the nativity. The take is unicorns and rainbows. She can’t possibly be following this blog. In theory, it sounds great but to a realist, that ship has sailed.

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Panama’s New President Faces Bumpy Path Ahead

Global Finance

José Raúl Mulino is the president-elect of Panama, following his victory in the May 5 polls. The balloting saw the highest turnout since the end of military rule in 1989, and with 34.23% of the vote, Mulino beat his closest rival by almost 10 points. “It has been a very difficult campaign full of all kinds of obstacles,” Mulino said. “I will definitely do what I have to do to move this country forward.

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Comment on Unresolved Complaints Filed with HUD by Christopher Carlson

Appraisers Blog

In reply to Kenneth Mullinix. Did you look up the GS-9 (starting) salary? Not the best unless you are in supervisory position GS-13+. VA has not stated their support for any of their appraisers in discrimination actions that I have heard of. They might confirm that a review, tidewater, or appeal was made; but I would not expect any more from them. You are not alone in HUD problem.

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Charles Schwab Preps For New CFO

Global Finance

Discount broker Charles Schwab has hired 33-year Citi veteran Mike Verdeschi as managing director and deputy CFO. Following a transition period, Schwab, which also offers investment management and banking services, plans to promote Verdeschi to CFO when incumbent Peter Crawford retires after 23 years with the firm. Verdeschi has spent the last seven years as Citi’s treasurer, in which capacity he managed a $2 trillion balance sheet, centralized treasury activities and revamped governance.

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Comment on Unresolved Complaints Filed with HUD by Kenneth Mullinix

Appraisers Blog

I was charge with racism through a VA loan and went through there protocol or their standard to investigate this. It took 9 month, my appraisal was reviewed by a staff review appraiser, then they had a zoom call with me that lasted about 3 to 4 hours. A few month later they cleared me, said I did have a few mistakes on the report which was caused by the homeowner not giving me the correct information in order for me to appraise the home higher, I did make slight mistake on measuring the home but

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Honeywell Takes Flight: Boosts Guidance, Closes Carrier Global Transaction

Benzinga

Honeywell International Inc. (NASDAQ: HON ) shares are trading higher after the company raised its second-quarter and FY24 guidance following the completion of the acquisition of Carrier Global Corporation ‘s (NYSE: CARR ) Global Access Solutions business. In particular, the company closed the buyout for $4.95 billion, with the deal expected to support Honeywell’s plans to align its portfolio to automation, the future of aviation, and energy transition.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Brian

Appraisers Blog

not sure how to get this out – but The CFPB encourages comments and data from the public and all interested stakeholders. Comments must be received within 60 days of the request for information being published in the Federal Register. on this from 5/30/2024 press@cfpb.

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Waste Management To Acquire Stericycle For $62.00/Share In Cash, At 20% Premium

Benzinga

Stericycle, Inc. (NASDAQ: SRCL ) shares are trading higher after the company inked a deal to be acquired by Waste Management Inc. (NYSE: WM ) for approximately $7.2 billion, including debt. Stericycle focuses on the collection and disposal of hazardous medical waste and also operates a document shredding service known as Shred-It. As per the terms, the per-share cash acquisition price is $62.00, which represents a premium of 24% to Stericycle’s 60-day volume-weighted average price as of Ma

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Baggins

Appraisers Blog

Mortgage lending appraisers can not over ride the fact that amc companies have a financial motivation to drive appraisers fees down, drive consumer fees up, pocket the difference, conceal the billing distribution, then send the vast majority of all work assignments to the lowest priced appraiser(s). Denying the most talented and skilled appraisers in the business the ability to work, driving them out of business instead.

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BD Bolsters Portfolio With $4.2B Cash Deal For Edwards Lifesciences' Critical Care Group: Details

Benzinga

Shares of medical technology company Becton, Dickinson And Company (NYSE: BDX ) are trading higher after the company said it will acquire Edwards Lifesciences Corp’s (NYSE: EW ) Critical Care product group, an advanced monitoring solutions provider, for $4.2 billion in cash. Critical Care has approximately 4,500 employees, most of whom are based in Irvine, California.

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by Retired Appraiser

Appraisers Blog

Picasso answered “$5,000 madam.” “But it only took you five minutes.” “No, madam, it took me my whole life.

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A ‘goldilocks’ moment is approaching for Italian bank deals

Financial Times M&A

Consolidation is coming and key players have staked their reputations on being ready to take advantage

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Comment on Appraisal Fees & Value: Lessons from Picasso & Steinmetz by PIP

Appraisers Blog

Picasso answered “$5,000 madam.” “But it only took you five minutes.” “No, madam, it took me my whole life.