Mon.May 13, 2024

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Seven Questions about Proxy Advisors

Harvard Corporate Governance

Posted by David F. Larcker and Brian Tayan (Stanford University), on Monday, May 13, 2024 Editor's Note: David F. Larcker is the James Irvin Miller Professor of Accounting, Emeritus; and Brian Tayan is a Researcher with the Corporate Governance Research Initiative at Stanford Graduate School of Business. This post is based on their recent paper. We recently published a paper on SSRN (“Seven Questions about Proxy Advisors”) that examines the role and function of proxy advisors.

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How Revenue-Based Financing and Venture Capital Work Together

Lighter Capital

As non-dilutive funding solutions attract more interest from SaaS entrepreneurs, venture capital (VC) investors are seeing an increasing number of startups who have used them for their growth and working capital needs, many times combining revenue-based financing (RBF) with a term loan, or other types of debt financing. These flexible SaaS financing solutions scale with a business’ growth, enabling tech entrepreneurs to focus on their startups without giving up equity, signing personal guarant

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The CEO Pay Problem Is Solvable with A.I.

Harvard Corporate Governance

Posted by Joel Paula, FCLTGlobal, on Monday, May 13, 2024 Editor's Note: Joel Paula is a Research Director at FCLTGlobal. This post is based on his FCLTGlobal memorandum. Proxy advisors are coming under pressure with accusations that their decision making is opaque, or pushing an “ESG” agenda. There’s no doubt that through their recommendations, they are hugely influential in voting outcomes.

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Skadden Guides Squarespace On $6.9B Go-Private Deal

Law 360 M&A

Squarespace Inc. said Monday it has agreed to a $6.9 billion buyout by private equity firm Permira, with Skadden Arps Slate Meagher & Flom LLP serving as lead counsel to the website building company and at least six additional firms guiding the various parties.

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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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Delaware Supreme Court Holds MFW Inapplicable Based on Banker Conflict Disclosure Deficiencies

Harvard Corporate Governance

Posted by Gregory V. Gooding, Maeve O'Connor, and William D. Regner, Debevoise & Plimpton LLP, on Monday, May 13, 2024 Editor's Note: Gregory V. Gooding , Maeve O’Connor , and William D. Regner are Partners at Debevoise & Plimpton LLP. This post is based on a Debevoise memorandum by Mr. Gooding, Ms. O’Connor, Mr. Regner, Andrew L. Bab , Matthew E.

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Ex-BP Manager Admits Trading On Inside TravelCenters Info

Law 360 M&A

A former BP PLC senior manager has admitted engaging in insider trading over the British oil and gas company's planned $1.3 billion acquisition of TravelCenters of America Inc., according to court records entered Friday.

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Anglo American rejects improved £34bn offer from BHP

Financial Times M&A

Australian giant increased all-share share offer by 15 per cent but was rebuffed by UK rival

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Patrick Cadarette

Appraisers Blog

In reply to Spencer Paul. I dare to say when someone has a gun to your head you will pretty much say and do whatever you need to prevent them from pulling the trigger. That’s what bully’s do when they have the gold, they rule. I’m not supporting or defending anyone just bringing to light the reality of the situation.

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Anglo American rejects new £34bn offer from mining rival BHP

The Guardian M&A

Australian company says FTSE 100-listed group’s board did not engage with its all-share approach Business live – latest updates Anglo American has rejected a second takeover approach by Australian rival BHP that values the London-listed mining company at £34bn. BHP said that Anglo’s board had not engaged with its offer, which came after an initial £31bn offer was also rejected last month.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Baggins

Appraisers Blog

The settlement included that if someone disagrees with value, appraisals will be reviewed by a different appraiser. Prior to ‘appraisal modernization’ (aka computerized automation) and before appraisal management companies, that used to be a standard lender process, to order field reviews from other appraisers. Bifurcated appraisals are harmful to home owners, as the appraiser knows far less about the home than having been there in person.

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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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Retirement Planning: Insights and Strategies for Business Owners in 2024

Benchmark Report

2024 is on pace to be a record-breaking year for retirement in the U.S. This year, an average of 11,000 Americans per day are expected to celebrate their 65th birthday. Now through 2027, we will see the most significant surge of retirement-age Americans than ever before. Yet, at the same time, data from the Pew Research Center shows that one in five people over the age of 65 are choosing to continue working, and the Bureau of Labor Statistics is projecting that Americans over the age of 65 will

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by KK Schware

Appraisers Blog

In reply to Spencer Paul. That original article in question in itself sounds like it was biased against the appraiser and lender. Changes, probably. “Sweeping?” I call b t. Appraisers are bullied into complying and bullied into agreeing to some form of ‘change’ so that the bigshot can say, ‘Hey, look, I earned my keep and did something.” Such as a huge list of words we can no longer even say in an appraisal.

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Danish biotech says companies should tap China’s ‘impressive innovation’

Financial Times M&A

Genmab argues ‘anti-Chinese sentiment’ should not deter dealmaking

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Stephen Reynolds on Facebook

Appraisers Blog

I’m surprised these cases are all settling. I’m guessing they are settling for small dollar amounts and it’s not worth trying them.

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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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Anglo American To Offload Vital Assets As BHP Lays Siege

Law 360 M&A

Anglo American PLC said Tuesday that it plans to sell or spin off its diamond, platinum and coal assets in a corporate restructuring aimed at boosting value for shareholders, as the British mining giant fends off a £34 billion ($43 billion) takeover bid from Australian rival BHP Group Ltd.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by JC

Appraisers Blog

Why is the appraiser of the lower opinion either biased or incompetent? I realize there are incompetent appraisers, like there are incompetent people in every profession, but there are a TON of number hitters and incompetents that will opine too high as well. For some reason the higher the number the more correct the appraisal and the more competent the appraiser.

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6th Circ. Backs Toss Of Private Security Co.'s Stolen Info Suit

Law 360 M&A

A Sixth Circuit Court of Appeals panel has sided with a private security company accused of partnering with a similar business and stealing trade secrets so it could flourish while the other one wilted, saying the plaintiff failed to support its allegations.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by KK Schware

Appraisers Blog

Was there any actual hard proof or data provided as to what actual fair market value was? People who own a home and are untrained and uneducated in valuation and make a biased wild guess as to their home value should not be assumed to be better at appraising than an actual professionally trained appraiser. “Low ball” is a b t term that in nearly ALL cases simply translates to ‘I did not get my way so I wanna to fraudulently get people in trouble.” Can an appraiser fall vi

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Handbag Cos. Denied More Market Info In FTC Merger Suit

Law 360 M&A

A New York federal judge refused Monday to force the Federal Trade Commission to give Tapestry and Capri more details on the market allegedly threatened by their planned $8.5 billion merger, finding the parent companies of Coach and Michael Kors have the information they need.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Bob Ipock

Appraisers Blog

Who knows? They may have settled for $10,000 or $100,000. What loss did they suffer? How much did it take to solve the issue?

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SPAC Investor Says Insiders Overvalued Satellite Co. Deal

Law 360 M&A

An investor has sued a blank-check company and several of its top brass in Delaware Chancery Court, alleging the defendants protected their buy-ins while leaving public investors to suffer losses following a merger with satellite imaging company BlackSky Holdings Inc.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Spencer Paul

Appraisers Blog

How do you admit no wrong, but make sweeping changes?? The change in and of itself suggested that something was wrong with your process, does it not?

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Irked Autonomy Judge Vents On HP Fraud Trial's Slow Pace

Law 360 M&A

U.S. District Judge Charles Breyer on Monday blasted lawyers for the government and two former Autonomy Corp. PLC executives in a criminal fraud case over the trial's slow progress, saying he's "annoyed," but also "complicit" because he "did not take more of a controlling posture.

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Comment on False Claims of Racism Against Appraiser by Steve Maher

Appraisers Blog

It is a story of false claims, and the damaging effects of a homeowner's actions on an appraiser's career, business, and health.

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SBA Loans for Small Businesses

Peak Business Valuation

Looking to start or grow a small business but need help to secure financing? An SBA loan for a small business could be the solution you have been searching for. In this guide, we will walk you through everything you need to know about SBA loans for small businesses. This article pulls information directly from the SBA’s page for its loans. For a deeper dive into SBA loans for small businesses, visit their page here.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Retired Appraiser

Appraisers Blog

In reply to KK Schware. Vintage Route 22 perhaps? I was a biased appraiser for 20 years. always partial to my own opinion of value.

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IBM Won't Get Jury Trial In $1.5B Chip Contract Fight

Law 360 M&A

IBM can't present its claims that a microchip maker swindled it into entering into semiconductor contracts and never followed through to a jury, after a New York state court ruled that those contractual agreements contain enforceable waivers of jury trial rights.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Baggins

Appraisers Blog

Climbing out of that black hole is nearly impossible. It’s one reason why many appraisers are fleeing mortgage lending.

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Kroger Says Wash. AG's Merger Suit Ignores Costco's Impact

Law 360 M&A

The Washington state attorney general's challenge to Kroger's proposed $24.6 billion acquisition of rival grocery giant Albertsons ignores key economic realities, the companies argued in recent state court filings, including fierce competition from Costco and other big-box retailers.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Jason

Appraisers Blog

Climbing out of that black hole is nearly impossible. It’s one reason why many appraisers are fleeing mortgage lending.

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Texas Energy Biz Sells Gulf Coast Assets In $280M Deal

Law 360 M&A

Houston-based midstream company Eastern Energy on Monday unveiled plans to sell its Gulf Coast Liquids Pipeline System to natural gas transmission company OneOK Inc., advised by Haynes and Boone LLP, for roughly $280 million.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by Mat J

Appraisers Blog

Climbing out of that black hole is nearly impossible. It’s one reason why many appraisers are fleeing mortgage lending.

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BofA Says Suit By Commanders Ex-Partner Has Wrong Target

Law 360 M&A

A former Washington Commanders minority owner's claim that Bank of America and others scammed him out of a bigger share of the eventual sale price of the NFL franchise is "implausible" and "incoherent,'' Bank of America told a Florida federal court in its motion to dismiss the minority owner's suit.

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Comment on Escaping the Black Hole: Appraisers Fleeing Mortgage Lending by PD

Appraisers Blog

Climbing out of that black hole is nearly impossible. It’s one reason why many appraisers are fleeing mortgage lending.