Thu.Aug 08, 2024

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The Credit Markets Go Dark

Harvard Corporate Governance

Posted by Jared A. Ellias (Harvard Law School) and Elisabeth de Fontenay (Duke University School of Law), on Thursday, August 8, 2024 Editor's Note: Jared A. Ellias is the Scott C. Collins Professor of Law at Harvard Law School, and Elisabeth de Fontenay is Karl W. Leo Distinguished Professor of Law at Duke University. This post is based on their recent article forthcoming in the Yale Law Journal.

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The key to accelerating AI development? Pragmatism plus imagination

Mckinsey and Company

Leaders are treating generative AI as less of a curiosity and more an integral part of business. McKinsey research sheds light on who is using AI, how they’re using it, and the challenges that remain.

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Does Compensation Actually Paid Align with Total Shareholder Return?

Harvard Corporate Governance

Posted by Ira Kay, Ed Sim, and Mike Kesner, Pay Governance LLC, on Thursday, August 8, 2024 Editor's Note: Ira Kay is a Managing Partner, Ed Sim is a Consultant, and Mike Kesner is a Partner at Pay Governance LLC. This post is based on their Pay Governance memorandum. Key Takeaways There is a strong correlation (.56) between relative TSR and CAP but not between TSR and SCT Compensation (.

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Author Talks: A transformational approach to leadership

Mckinsey and Company

How can leaders reach their full potential? McKinsey senior partners provide a road map for developing effective “inside out” leadership.

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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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Shareholder Proposal Developments During the 2024 Proxy Season

Harvard Corporate Governance

Posted by Elizabeth A. Ising, Ronald O. Mueller, and Geoffrey Walter, Gibson, Dunn & Crutcher LLP, on Thursday, August 8, 2024 Editor's Note: Elizabeth A. Ising and Ronald O. Mueller are Partners and Geoffrey Walter is an Associate at Gibson, Dunn & Crutcher LLP. This post is based on a Gibson Dunn memorandum by Mr. Mueller, Ms. Ising, Mr. Walter, Aaron Briggs , Julia Lapitskaya , and Lori Zyskowski.

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Why Google, Microsoft and Amazon Shy Away From Buying A.I. Start-Ups

NYT M&A

Google, Microsoft and Amazon have made deals with A.I. start-ups for their technology and top employees, but have shied from owning the firms. Here’s why.

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E-Discovery Quarterly: Rulings On Hyperlinked Documents

Law 360 M&A

Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

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Samsung Recalls 1 Million Stoves That Started 250 Fires and Killed Pets

NYT M&A

Thirty models of Samsung stoves were part of the recall over fires started by accidental contact.

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UK Launches Formal Probe Into Amazon's $4B AI Investment

Law 360 M&A

Britain's antitrust authority launched a formal probe on Thursday into Amazon's $4 billion investment in Anthropic, a U.S. artificial intelligence startup, as it seeks to establish whether it could harm competition in U.K. markets.

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Comment on Accurate Appraisal Underreporting by Baggins

Appraisers Blog

In reply to Eric Kretz. I’m like; A fan of trolls. They light up my day and bring joy to the boards. And Charles. Sorry to inform you bro. You’re wrong again. Better luck next time. Close but no cigar. Is this the same realtor guy whom hung up on me all frustrated and said; I’m not going to get drawn into some long annoying conversation about value… True story.

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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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Kremlin rejects Budweiser owner AB InBev’s plan to exit Russia

Financial Times M&A

Authorities tell brewer’s joint venture partner Anadolu Efes ‘the current structure of the transaction has not been approved’

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Comment on Accurate Appraisal Underreporting by Tom Taylor

Appraisers Blog

In reply to tp. Good catch! I noticed the math error immediately because I am an appraiser and accustomed to using math daily. You would think the writer of this article would know better.

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Should ESG Ratings Be Strictly Regulated? An EU Perspective

Reynolds Holding

ESG ratings play an important role in helping companies and financial institutions integrate sustainability into their decisions. Yet critics argue that regulations are needed to address the ratings’ many shortcomings: a lack of transparency in the methodologies behind them, the difficulty of comparing ratings from different sources, inadequate arrangements for dealing with conflicts of interest that may arise from raters’ relationships with companies they rate, and, of course, the absence of an

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Comment on Accurate Appraisal Underreporting by Baggins

Appraisers Blog

In reply to Pat Turner. Simply incredible. A substantial group effort will be required to go through and highlight the commentary. 950+ comments. There appear to be quite a few new comments in the 400-950+ comment ranges which may be worth reading, submitted in just the past few days. Reviewed last few dozen and there were a few unique appraisal focused comments.

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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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Review Real-Time Data With Flash Reports

Machen McChesney

It usually takes between two and six weeks for management to prepare financial statements that comply with the accounting rules. The process takes longer if an outside accountant reviews or audits your reports. Timely information is critical to making informed business decisions and pivoting as needed if results fall short of expectations. That’s why proactive managers often turn to flash reports for more timely insights.

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Comment on Accurate Appraisal Underreporting by Pat Turner

Appraisers Blog

In reply to Tom Taylor. Comments to the CFPB has been extended until August 15. Everybody get up off of your arse and do something for this profession!

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Redpath Practice Recognized by Construction Executive for Sixth Time

Redpath

August 8, 2024 - Redpath and Company (Redpath), one of the top 125 accounting and advisory firms in the nation by revenue, announced it has been named to the Top 50 Construction Accounting Firms TM list published by Construction Executive (CE) magazine. This is the sixth consecutive year that the Redpath construction practice has been recognized.

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Comment on Accurate Appraisal Underreporting by Baggins

Appraisers Blog

In reply to Tom Taylor. It’s always the decibels on percentages that confuse the jr math associates. That and sometimes I swear my calculator is haunted.

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AI-Powered Drug Discovery Firm Exscientia To Merge With Nvidia-Partner Recursion Pharmaceuticals

Benzinga

On Thursday, Exscientia plc (NASDAQ: EXAI ) agreed to merge with Recursion Pharmaceuticals Inc. (NASDAQ: RXRX ). Exscientia shareholders will receive 0.7729 Recursion shares for each Exscientia share, with fractional shares paid in cash. Based on the fixed exchange ratio, Recursion shareholders will own approximately 74% of the combined entity, and Exscientia shareholders will own approximately 26%.

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Unveiling Success: Case Studies of M&A Deals That Made History

Sun Acquisitions

In the ever-evolving business landscape, mergers and acquisitions (M&A) are pivotal strategies for growth and expansion. While some M&A ventures falter, others become tales of triumph, reshaping industries and setting benchmarks for success. In this exploration, we delve into case studies of M&A deals that succeeded and left an indelible mark on corporate history.

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Here's Why Old National Stock is Worth Buying Right Now

Benzinga

Old National Bancorp (NASDAQ: ONB ) is well-positioned on strong loan growth, high interest rates and strategic initiatives. Moreover, solid liquidity and efforts to improve fee income are likely to support its financials. Over the past 30 days, the Zacks Consensus Estimate for 2024 and 2025 earnings has remained unchanged. ONB currently carries a Zacks Rank #2 (Buy).

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Food Tech Biz JBT's Investors Approve €3.5B Deal With Rival

Law 360 M&A

JBT Corp. shareholders have approved plans to buy out Iceland-based rival Marel HF for €3.5 billion ($3.8 billion), as the U.S. food processing technology giant moves to expand the company.

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Calhoun to Present at the Society of Louisiana CPAs Forensic, Litigation & Valuation Services Conference

Auto Dealer Valuation Insights

Karolina Calhoun, CPA/ABV/CFF is presenting at the Society of Louisiana CPAs’ Forensic, Litigation & Valuation Services Conference on August 19, 2024, in New Orleans, Louisiana. She will present on “Personal Goodwill and Valuation Issues in Marital Dissolution Cases.

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Hargreaves Lansdown Agrees To £5.4B CVC Takeover Offer

Law 360 M&A

Hargreaves Lansdown said Friday that its board has agreed to a £5.4 billion ($6.9 billion) take-private offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

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Choosing the Right Accounting Method for your Construction Business

Meade & Moore

Construction businesses face a unique problem that few other businesses do: choosing the right accounting method for tax purposes. Of course, it should go without saying that all businesses need to choose the right accounting method. But the options for businesses in most other industries are simple and straightforward, while the methods available to construction businesses are more complex.

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SPAC Investors Can't Sue Lucid Over Merger, 9th Circ. Says

Law 360 M&A

The Ninth Circuit on Thursday refused to revive investors' proposed class action alleging that Lucid duped them into buying stock in a special purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, saying an acquiring company's investors can't sue the target company over its alleged misstatements before the merger.

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US Foods Q2: Sales Beat, Reiterated FY24 Outlook & More

Benzinga

US Foods Holding Corp. (NYSE: USFD ) shares are trading higher after the company reported second-quarter results. The company reported adjusted earnings per share of 93 cents , in line with the street view. Quarterly sales of $9.70 billion (+7.7%) outpaced the analyst consensus of $9.64 billion. Total case volume increased by 5.2%, with independent restaurant case volume up by 5.7%.

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'Unclean Hands' Doom Colo. Dispute Over Cannabis Biz Sale

Law 360 M&A

A Colorado state appeals court on Thursday affirmed the dismissal of a dispute over the sale of a cannabis business, saying the would-be buyer can't pursue its claims because the sale agreement was an illegal attempt to get around the state's licensing laws.

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SoundHound AI Acquires Enterprise Conversational AI Provider Amelia For $80M, Expands Into New Verticals

Benzinga

SoundHound AI (NASDAQ: SOUN ), a leading voice artificial intelligence (AI) company, has announced the acquisition of Amelia , an enterprise AI software company. This move unlocks new verticals, partnerships, and cross-selling opportunities across the quickly growing voice AI space. "Amelia is an innovative company that shares our passion for AI-fueled conversations.

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Fla. Judge Won't Pause E-Scooter Co.'s Ch. 11 Plan

Law 360 M&A

California plaintiffs with tort claims against Bird Global Inc. can't stop a Chapter 11 plan for the bankrupt e-bike and e-scooter rental company while they appeal its confirmation because of the plan's third-party releases, a Florida bankruptcy judge ruled Thursday.

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Leveraging AI for a path to accounting partnership

ThomsonReuters

In the rapidly evolving landscape of the accounting profession, the integration of AI-powered technology stands out as a pivotal factor that can accelerate a young professional’s journey toward becoming a partner. Embracing a more consultative mindset, as well as leveraging the most current accounting tech solutions , is essential for those aiming to distinguish themselves and advance their careers in modern accounting firms.

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Mass. Atty, 2 Others Settle SEC Insider Trading Claims

Law 360 M&A

A Massachusetts business lawyer, his friend and his friend's father have agreed to collectively pay more than $230,000 to settle the U.S. Securities and Exchange Commission's allegations they used intel to trade ahead of an announcement made by the biotechnology company Frequency Therapeutics Inc., the SEC said Thursday.

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Business Valuation for Buying a Printing Business

Peak Business Valuation

Our modern world is dominated by digital media and online content. But no matter how far technology advances, some things will always be better in ink. If you have a passion for turning thoughts and ideas into tangible products, buying a printing business may be a perfect opportunity for you. However, it is important to first receive a business valuation for buying a printing business.

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Nasdaq Seeks To Step Up Delistings For Cheap, Risky Stocks

Law 360 M&A

Nasdaq is proposing to accelerate delisting procedures for companies whose shares fall below $1 for extended periods by tightening compliance deadlines and cracking down on those companies that seek to avoid delisting by enacting reverse stock splits, marking the exchange's latest effort to combat risky stocks.