Wed.Jun 05, 2024

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Half the Firms, Twice the Profits

Harvard Corporate Governance

Posted by Mark J. Roe (Harvard Law School) and Charles C.Y. Wang (Harvard Business School), on Wednesday, June 5, 2024 Editor's Note: Mark J. Roe is David Berg Professor of Law at Harvard Law School and Charles C.Y. Wang is Tandon Family Professor of Business Administration at Harvard Business School. This post is based on their recent article forthcoming in the Journal of Law, Finance, and Accounting.

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Navigating the generative AI disruption in software

Mckinsey and Company

The technology could accelerate growth, but presents new challenges, including shifts in value pools, user segments, and competitive dynamics that could spur a realignment of product categories.

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Unions Seek Influence in Corporate Battles

Harvard Corporate Governance

Posted by Jonathan Doorley, Brunswick Group LLP, on Wednesday, June 5, 2024 Editor's Note: Jonathan Doorley is Partner at Brunswick Group LLP. This post is based on his Brunswick memorandum. The collision of financial, political and social issues in deal-making and proxy contests has never been more apparent in the United States than it was in 2023 and thus far in 2024.

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The AI opportunity: How payers can capture it now

Mckinsey and Company

AI and automation could lower administrative and medical costs and increase revenue. But payers have yet to mobilize to transform their organizations to capture this opportunity.

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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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Continuation Funds: What You Need To Know

Harvard Corporate Governance

Posted by Greg Norman, Delphine Jaugey and Laurence Hanesworth, Skadden, Arps, Slate, Meagher & Flom LLP, on Wednesday, June 5, 2024 Editor's Note: Greg Norman is a Partner, Delphine Jaugey is a Counsel and Laurence Hanesworth is an Associate at Skadden, Arps, Slate, Meagher & Flom LLP, This post is based on their Skadden memorandum. Over the last 10 years, continuation funds have evolved to be a well-established potential exit route for private fund sponsors.

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U.S. Clears Way for Antitrust Inquiries of Nvidia, Microsoft and OpenAI

NYT M&A

The Justice Department and the Federal Trade Commission agreed to divide responsibility for investigating three major players in the artificial intelligence industry.

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HanesBrands Selling Champion To Authentic For Up To $1.5B

Law 360 M&A

HanesBrands said Wednesday it has agreed to sell its Champion business to Authentic Brands Group for up to $1.5 billion, under the guidance of Kirkland & Ellis LLP and Jones Day.

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Dollar Tree Explores Sale of Family Dollar

NYT M&A

Family Dollar has struggled with its operations in recent years, and Dollar Tree said in March that it would close nearly 1,000 of the stores.

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Del. Justices Uphold Chancery's Toss Of Auto Parts Deal Suit

Law 360 M&A

Delaware's Supreme Court has refused to reverse the Court of Chancery's 2023 dismissal of a stockholder suit accusing Chicago-based factory and automotive parts venture Distribution Solutions Group Inc. of failing to disclose conflicts surrounding and costs of a three-way merger in late 2021.

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Comment on CFPB Crackdown: Unfair Practices Hurting Consumers by Todd Redington

Appraisers Blog

In reply to Mark Zeigler. I have said it before and I will say it again and again and again… Report “Quality” complaints are ONLY made when the value does not come in at contract or “as expected” So as long as your 75 mile away cost cutter comes into value, there is no quality control issue or complaint. Subsequently, how does one prove that the lowest bid was the worst appraisal if the appraisal gets no complaints… Bias exists in our profession and it always

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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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Orrick-Led SAP Inks $1.5B Deal For Israeli Tech Co. WalkMe

Law 360 M&A

German software company SAP SE said Wednesday it has agreed to purchase software-as-a-service company WalkMe Ltd. for approximately $1.5 billion.

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Comment on CFPB Crackdown: Unfair Practices Hurting Consumers by Mark Zeigler

Appraisers Blog

When asked my fee and turn time I have put the past 5 with 2 day turn time and my standard fee. Clearly I received none because they want the lowest fees out there. One appraiser was $100 less and 75 miles away. Saw that horrible report, but that was the lowest fee and the appraiser did not know this area at all.

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Keep calm and allocate capital: Six process improvements

Mckinsey and Company

The most effective resource allocation processes are radically simple.

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

Appraisers Blog

The damage caused by Appraisal Management Companies violating TILA & the Customary & Reasonable fee clauses goes beyond just financial losses.

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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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Board and Management Action Plan for Enhancing Resiliency

N Contracts

Building a resilient organization through sound governance has never been more important for a financial institution’s board and management. Regulators are keenly focused on resilience, demanding that FIs demonstrate their ability to withstand any shocks or disruptions.

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Comment on CFPB Crackdown: Unfair Practices Hurting Consumers by Honest Appraiser

Appraisers Blog

AMCs have been pocketing $100s of Millions without disclosure off the backs of Independent Appraiser since 2009. This practice has robbed our industry of time and resources for over a decade. I’m tired and broke, but still fighting for our career.

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Charting a new course: The untapped potential of American shipyards

Mckinsey and Company

Amid escalating demand, aging infrastructure, and a strained talent supply, the American shipbuilding, sustainment, and repair industries can accelerate growth by activating latent domestic capacity.

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Comment on CFPB Crackdown: Unfair Practices Hurting Consumers by Baggins

Appraisers Blog

It is crucial for appraisers to act & provide the Bureau/CFPB with as much information as possible regarding the unethical practices of AMCs.

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BREAKING: FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals

Law 360 M&A

The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.

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Comment on CFPB Crackdown: Unfair Practices Hurting Consumers by Frustrated Appraiser

Appraisers Blog

It is crucial for appraisers to act & provide the Bureau/CFPB with as much information as possible regarding the unethical practices of AMCs.

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Craft Cannabis Co. Grown Rogue Expands In This Booming East Cost Weed Market Via New Acquisition

Benzinga

Grown Rogue International Inc. (CSE: GRIN ) (OTC: GRUSF ) has obtained licensing approval with the New Jersey Cannabis Regulatory Commission and closed its first option to acquire 44% of ABCO Garden State, LLC on Friday, May 31. What Happened Obie Strickler, the company's CEO, said "All regulatory approvals from the CRC have been received and we exercised and closed our option to acquire 44% of ABCO.

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

Appraisers Blog

In reply to Baggins. It seems to me this is selective discrimination against one profession, appraisal. If one profession can be made to retake their “licensing” exam every two years then ALL professions should be made subject to the same standard including, but not limited to; lawyers, accountants, realtors, brokers, doctors and the list continues.

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Surprise Audits Are Proven to Fight Fraud

Machen McChesney

Four antifraud controls are associated with at least a 50% reduction in both fraud loss and duration, according to “Occupational Fraud 2024: A Report to the Nations” published by the Association of Certified Fraud Examiners (ACFE). They are financial statement audits, reporting hotlines, surprise audits, and proactive data analysis. However, the ACFE study also found that two of these — surprise audits and proactive data analysis — are among the least commonly implemented controls.

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

Appraisers Blog

In reply to Eric Kretz. Book sale revenue must be down. If one suffers a licensing downgrade, would likely to be subjected to updated college degree requirements to regain the license. Even if you pass the tests, the proposal is a never ending series of additional fees and specifically required collegiate level class work based specifically on your wrong answers.

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Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany

Benzinga

Lifeist Finalizes Sale of Australian Vaporizers Lifeist Wellness Inc. (TSXV: LFST ) (FRANKFURT: M5B) (OTC: LFSWF ) said on Wednesday it has sold Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC ). The sale, first announced in September 2023 , was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439).

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

Appraisers Blog

[link] Read this. Another industry review paper. Data interpreted by people whom do not actually work as active appraisers. My total licensed numbers have been off, must have been remembering the number of total job losses as all the people dependent on appraisers also left, been so long, sorry about that. Get ready to retest with increasingly difficult testing peramiters in order to retain and renew the appraisers license or face a licensing downgrade.

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From Wealth Management to Investment Banking: How to Make the Leap

Brian DeChesare

As internships and full-time jobs begin each year, new hires flock online and start asking the same question repeatedly: “Help! I hate this job. How can I move from wealth management to investment banking ? I’ll do anything!” The good news is that it is possible to do this. The bad news is that it may be extremely difficult to near impossible unless you get a top MBA.

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

Appraisers Blog

In reply to Baggins. Once again, I’d prefer that the ‘Powers That Be’ just say the quiet parts out loud. They don’t want appraisers. Appraisers are getting squeezed from both ends – the regulatory side of Fannie and Freddie, HUD DEI nonsense, and state boards, AI and appraisal waivers; and then from the broken client/AMC model.

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Alvarez & Marsal raids Big Four in push to expand deal advisory work

Financial Times M&A

Consulting firm sees opportunity to poach ‘hundreds’ of partners and staff from rivals

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

Appraisers Blog

In reply to ej. EJ, the legal language for your argument is Anti Trust and Restriction of Trade. [link] [link] The amc industry has it all. Harm to consumers, harm to provider competition, price fixing, collusion, monopolization, a function to conceal dealings from regulatory authorities, restriction of trade, racketeering, etc. The amc industry fails certain tests because; They do not return cost savings to consumers.

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Comparing Apples to Oranges: Industry-Specific Insights for Accurate Business Valuation

GCF Value

In the world of small business, every business is unique because every small business owner is unique. As a result, making the assumption that businesses operating within the same industry are going to be valued the same is an improper one. When looking at the various industry sectors (construction, manufacturing, distribution, etc.,), the financial structure changes.

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Tech-Forward Mergers: Driving Innovation in Sign Manufacturing

Sun Acquisitions

In recent years, Sun Acquisitions has observed the rapid technological evolution of the sign manufacturing industry. Sign Manufacturing is not immune to the pressures of innovation and the need to stay competitive. Mergers and acquisitions (M&A) has become an important strategic tool for sign manufacturing business owners to harness new technologies and expand their expertise.

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Haynes Boone Guides Natural Gas Producer's SPAC Merger

Law 360 M&A

An Italian natural gas producer has said that it will merge with a Nasdaq-listed blank check company to help accelerate its transition to clean energy in a deal steered by Haynes and Boone and Greenberg Traurig.

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Leveraging M&A to Capitalize on Eco-Friendly Paving Trends

Sun Acquisitions

In today’s environmentally conscious market, the paving industry faces a pressing need to adapt to sustainable practices. As urbanization continues to expand, so does the demand for eco-friendly paving solutions that minimize environmental impact while maintaining cost-effectiveness and durability. One strategic avenue for companies aiming to lead in this green transformation is through mergers and acquisitions (M&A) of firms specializing in sustainable paving technologies.