September, 2024

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Unveiling Key Trends in AI Shareholder Proposals

Harvard Corporate Governance

Posted by Arnaud Cavé, Niamh O’Brien, and Andrea Hearon, FTI Consulting, on Sunday, September 29, 2024 Editor's Note: Arnaud Cavé and Andrea Hearon are Directors and Niamh O’Brien is a Senior Consultant at FTI Consulting. This post is based on their FTI memorandum. Overview AI is the hot topic of 2024. Companies see the opportunity to gain efficiency and drive growth through the adoption of AI, while not ignoring upcoming regulatory obligations and rising investor expectations.

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Direct from Michael Dell: Leadership lessons and the future of AI

Mckinsey and Company

The CEO of Dell Technologies weighs in on what’s next for AI, how companies can successfully transform in the face of constant disruption, and how his leadership style has changed over 40 years.

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Billion-Dollar Marijuana Giant Buys Another Brewery From Molson Coors, Expands Great Lakes Footprint

Benzinga

Tilray Brands, Inc. (NASDAQ: TLRY ) confirmed Thursday it has completed the previously announced acquisition of Atwater Brewery, from Molson Coors Beverage Company (NYSE: TAP ). “Atwater Brewery is a renowned craft brewery with a rich history and a loyal following in Michigan," said Irwin D. Simon, chairman and chief executive officer of Tilray Brands.

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Greed, Gluttony and the Crackup of Red Lobster

NYT M&A

How missed opportunities, a $1.5 billion real estate deal, all-you-can-eat shrimp and the global pandemic sank the country’s largest seafood chain.

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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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Corporate Bankruptcies Are Rising Globally

Global Finance

Bankruptcy filings are piling up all over the world now that government emergency supports linked to the Covid-19 pandemic have diminished. In the US, the world’s largest economy, more corporations went under in the first half of 2024 than in any comparable period since 2010. In total, 346 companies filed for Chapter 11 bankruptcy, according to Standard & Poor’s Global Market Intelligence.

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The Power of Expectations: Nvidia's Earnings and the Market Reaction!

Musings on Markets

Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled for after the market closed. That call, at first sight, contained exceptionally good news, with revenues and earnings coming in at stratospheric levels, and above expectations, but the stock fell in the aftermath, down 8% in Thursday’s trading. That drop of more than $200 billion in market capitalization in response to what looked like good news, at least on the surface, puzzled market observers,

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A new tech-driven era of impactful marketing and sales

Mckinsey and Company

Salesforce president and chief marketing officer Ariel Kelman and former Solo Brands chief digital officer Jenna Posner discuss the importance of human-led, tech-powered marketing.

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Billion-Dollar Cannabis Company Closes Acquisition Of Three US Breweries, What's Next For Tilray

Benzinga

Tilray Brands, Inc. (NASDAQ: TLRY ) (TSX: TLRY ) announced on Tuesday that it has completed the previously announced acquisition of craft breweries Hop Valley Brewing Company,Terrapin Beer Co., and Revolver Brewing, from Molson Coors Beverage Company (NYSE: TAP ). Why It Matters The acquisition bolsters Tilray’s leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia.

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Biden Expected to Block U.S. Steel Takeover

NYT M&A

The Committee on Foreign Investment in the United States is expected to raise national security concerns about selling the iconic steel producer to Japan’s Nippon Steel.

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Stakes Rising In The US-China AI Race

Global Finance

The intensifying competition between the United States and China over artificial intelligence (AI) is not merely an extension of their long-standing trade disputes; it is a critical battle that could reshape global power dynamics. Two recent developments have amplified the significance of this struggle: the war in Ukraine, which has vividly illustrated how AI, particularly in the form of AI-enhanced drones, can be weaponized, underscoring the technology’s lethal potential in modern warfare; and

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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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8 Red Flags Indicating Potential Fair Lending Risk

N Contracts

Risk management is all about identifying, measuring, monitoring, and controlling risk, and fair lending risk is no exception. When assessing fair lending risk, it’s not just what your financial institution is doing. It’s also what it’s not doing. Read on for eight red flags that may indicate potential fair lending risk.

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Audit Committee Practices Report

Harvard Corporate Governance

Posted by Krista Parsons and Vanessa Teitelbaum, Deloitte LLP, on Sunday, September 8, 2024 Editor's Note: Krista Parsons is a Managing Director at Deloitte LLP and Vanessa Teitelbaum is a Senior Director at the Center for Audit Quality. This post is based on their Deloitte memorandum. Key Findings As the regulatory environment grows in complexity and organizations address new and continuing challenges, additional expectations are placed on audit committees.

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Reimagining healthcare industry service operations in the age of AI

Mckinsey and Company

Healthcare payers, care delivery organizations, and governments have many opportunities to improve consumer experiences and bolster service efficiency using AI solutions.

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California Cannabis Brands Papa & Barkley And Mammoth Distribution Announce Merger, Promising National Expansion

Benzinga

Papa & Barkley , a well-known cannabis wellness brand in California, has merged into Mammoth Distribution , one of the state's leading distributors. The companies announced the merger Wednesday in a joint press release. This marks a significant consolidation within California's cannabis industry , promising a focus on quality, sustainability and expanded national reach.

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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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Just Miles from Kroger’s Court Battle, a Food Desert Shows What’s at Stake

NYT M&A

Federal regulators are trying to block Kroger’s merger with Albertsons. In a Portland suburb, residents already know what deteriorating access to fresh food looks like.

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CFO Corner With Groupe Berkem’s Anthony Labrugnas

Global Finance

Anthony Labrugnas has been the chief financial officer of Groupe Berkem, a France-based chemical group, for nearly 10 years. Berkem has been listed on the EuroNext since December 2021. Global Finance: What has been the most challenging time of the 10 years you have been CFO at Groupe Berkem? Anthony Labrugnas: The most challenging time as the financial head of Groupe Berkem was at the beginning, because of the company’s financial situation at that time.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Josh Tucker

Appraisers Blog

In reply to Baggins. ARCC is a Research Institute. Nobody can speak for them except through ARCCs webpage itself or posts from their LinkedIn. They have a lot of projects they are working on and a fun announcement coming up. Rest assured they are not staying idle.

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Is 2024 past peak ESG?

Harvard Corporate Governance

Posted by Anne Tucker (Georgia State University), Dana Brakman Reiser (Brooklyn Law School), and Yusen Xia (Georgia State University), on Monday, September 16, 2024 Editor's Note: Anne Tucker is Professor of Law at Georgia State University, Dana Brakman Reiser is the Centennial Professor of Law at Brooklyn Law School, and Yusen Xia is the Anne and Michael D.

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Global Economics Intelligence executive summary, August 2024

Mckinsey and Company

US employers added 818,000 fewer jobs (30%) than estimated for the 12 months ended in March, but second quarter growth was up 3.0%. Central banks are moving rates or considering doing so, including the US Federal Reserve.

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Cannabis Powerhouse Planet 13 Boosts Nevada Presence With $6.9M Dispensary Acquisition & New Growth Strategy

Benzinga

The vertically-integrated multi-state cannabis company Planet 13 Holdings Inc. (CSE: PLTH ) (OTCQX: PLNH ) announced on Thursday that it's acquiring a Las Vegas-based cannabis dispensary. What Happened : The company's wholly-owned subsidiary MM Development Company, Inc. has entered into an asset purchase agreement under which Planet 13 will acquire all assets required to operate a 3,158-square-foot Nevada dispensary.

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7-Eleven Rejects Takeover Bid From Big Canadian Chain

NYT M&A

Japan’s Seven & i Holdings, the operator of 7-Eleven, has rebuffed a buyout offer that would have been the largest foreign-led acquisition of a Japanese company.

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Canadian Chain Store Giant Eyes 7-Eleven Parent In Japan

Global Finance

Canadian convenience store giant Alimentation Couche-Tard (ACT) has set its sights on Seven & i wHoldings, the Tokyo-based parent company of 7-Eleven. If the deal goes through—ACT submitted an offer to buy all outstanding shares of Seven & i last month—it will mark a significant step into Japan’s retail market by a foreign firm, but it wouldn’t be ACT’s first show of interest in the company or Japan.

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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Mary Thompson Thompson

Appraisers Blog

I finally announced my retirement to the masses what a load off. Between Bias, AMC’s, ROV, NAR Lawsuit, the new appraisal form coming out, now is the time to bow out after 30 years. The more I think about this BS the more I now understand we have been ABUSED for decades. Class action against AMC’s for mental and financial abuse is in order and we need someone to take it on.

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Wachtell Guides Marsh McLennan On $7.75B McGriff Buy

Law 360 M&A

New York-based global professional services group Marsh McLennan said Monday it has agreed to buy insurance brokerage McGriff Insurance Services, an affiliate of TIH Insurance Holdings, for $7.75 billion in a deal steered by Wachtell Lipton and Simpson Thacher, respectively.

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AI can transform workforce planning for travel and logistics companies

Mckinsey and Company

Travel and logistics firms face mounting labor challenges—including frequent shortages, rising costs, and declining productivity. Combining AI tools with new ways of working can improve efficiency.

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FTC Clears Chevron's $53B Hess Merger, Sets Restriction For John Hess

Benzinga

On Monday, Chevron Corp (NYSE: CVX ) announced that the Federal Trade Commission (FTC) completed an antitrust review of its merger with Hess Corp (NYSE: HES ), satisfying a critical closing condition for the transaction. To facilitate the merger’s completion, Hess and Chevron have agreed that Hess CEO John Hess will not be on the Chevron board.

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Google’s Ad Technology to Be Challenged in Second Antitrust Trial

NYT M&A

In a second antitrust trial that starts on Monday, the Justice Department has called for a breakup of the tech giant, which it says controls the vast majority of online advertising.

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CFOs: Changing Of The Guards

Global Finance

Call it “the CFO shuffle.” Top finance leaders are shifting from one company or position to another—or opting for retirement—at a faster rate. That’s according to the latest data from Russell Reynolds Associates, which specializes in executive searches. This year saw increased levels of turnover, with the proportion of outgoing finance chiefs reaching 8.9% globally from January to June.

Finance 111
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Comment on Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations by Kevin

Appraisers Blog

In reply to Baggins. We can all just send a copy of the letter and expose’ to all of your lender clients and realtors that you come into contact with. It has been my esperience that 95% of the ones I talk to have not heard anything about what is happening with AMC’s and the jacking of fees that is going on. And when they do find out they are pisssed!

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Fed up with Fed Talk? Fact-checking Central Banking Fairy Tales!

Musings on Markets

The big story on Wednesday, September 18, was that the Federal Reserve’s open market committee finally got around to “cutting rates”, and doing so by more than expected. This action, much debated and discussed during all of 2024, was greeted as "big" news, and market prognosticators argued that it was a harbinger of market moves, both in interest rates and stock prices.

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The McKinsey Crossword: Cutting Edge | No. 199

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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US Steel CEO Confident Nippon Deal Will Succeed Despite Biden Opposition: 'We Live By A Code'

Benzinga

United States Steel Corporation (NYSE: X ) CEO David Burritt says he is confident that the company's potential merger with Japan's Nippon steal will go through, despite the Biden administration’s opposition to the deal. In a speech to the Detroit Economic Club Tuesday, Burritt said that the acquisition would be good for both shareholders and employees.

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Antitrust Cases and Monopoly Lawsuits: Here Are Major Companies Sued by the U.S.

NYT M&A

Below are 15 major cases brought by the Justice Department and Federal Trade Commission since late 2020, as President Biden’s top antitrust enforcers have promised to sue monopolies and block big mergers.

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SPACs Try For A Comeback

Global Finance

Is the SPAC back? Maybe, a little. As a group, special purpose acquisition companies have crashed and burned spectacularly. Some 860 SPACs raised money from investors in the frenzied years 2020–2021, according to corporate advisor Kroll. Less than 100 survived. Most SPACs simply folded and returned cash to investors without ever making an acquisition.

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