Sat.Oct 21, 2023 - Fri.Oct 27, 2023

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Chasing Big Mergers, Oil Executives Dismiss Peak Oil Concerns

NYT M&A

Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.

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The CEO Shareholder: Straightforward Rewards for Long-term Performance

Harvard Corporate Governance

Posted by Joel Paula, FCLTGlobal, on Monday, October 23, 2023 Editor's Note: Joel Paula is a Policy Advisor at FCLTGlobal. This post is based on a FCLTGlobal memorandum by Mr. Paula, Jess Gaspar , Matt Leatherman , and Sarah Williamson. Related research from the Program on Corporate Governance includes Paying for Long-Term Performance (discussed on the Forum here ) by Lucian Bebchuk and Jesse Fried.

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From Tradition to Transformation: Appraising Diplomatic Real Estate

IVSC

Wayne A. Nygard, MAI, FRICS is the Division Chief for the Evaluations Division (“EV”) within the Bureau of Overseas Buildings Operations of the U.S. Department of State. EV is responsible for evaluation of U.S. Embassy and Consulate facilities and other real estate worldwide. The portfolio consists of over 25,000 properties in over 190 countries. Nygard oversees a staff of appraisers and real estate analysts who review and perform Market Value Appraisals worldwide as well as conduct various anal

Appraisal 246
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Fintechs: A new paradigm of growth

Mckinsey and Company

After decades of hypergrowth, fintechs have entered a new era of value creation, where the focus is on sustainable, profitable growth. This report examines how fintechs can win in these disruptive times.

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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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Oil megadeals usher in an age of energy uncertainty

Financial Times M&A

Those betting transactions by Chevron and ExxonMobil signal robust demand growth may want to think twice

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Good and Bad CEOs

Harvard Corporate Governance

Posted by Dirk Jenter (London School of Economics and Political Science), Egor Matveyev (Massachusetts Institute of Technology) and Lukas Roth (University of Alberta), on Tuesday, October 24, 2023 Editor's Note: Dirk Jenter is a Professor of Finance at London School of Economics and Political Science, Egor Matveyev is a Senior Lecturer and Research Scientist in Finance at Massachusetts Institute of Technology, and Lukas Roth is an Associate Professor of Finance at University of Alberta.

Finance 239

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Right skills, right person, right role

Mckinsey and Company

A shift from credential-based to skills-based hiring could be a key to filling technical roles amid talent shortages.

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ExxonMobil seeks more M&A opportunities after $60bn Pioneer deal

Financial Times M&A

Quarterly profits at oil group and rival Chevron miss Wall Street expectations

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The 401(k) Conundrum in Corporate Law

Harvard Corporate Governance

Posted by Natalya Shnitser (Boston College Law School), on Monday, October 23, 2023 Editor's Note: Natalya Shnitser is an Associate Professor at Boston College Law School. This post is based on her article forthcoming in the HBLR. With over $10 trillion in assets , employer-sponsored defined-contribution retirement plans play an important role in the corporate governance ecosystem.

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BuzzFeed in Advanced Talks to Sell Complex, Backtracking on Digital Media Bet

NYT M&A

BuzzFeed is negotiating a sale of much of Complex Networks for under $140 million, less than half of what it paid to acquire it two years ago.

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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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Courageous growth: Six strategies for continuous growth outperformance

Mckinsey and Company

Fewer than one in four companies outpace their industry peers on revenue and profit growth. New McKinsey research reveals the six mindsets and strategies that set these growth outperformers apart.

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Saving Atos: Jean-Pierre Mustier handed one of France’s messiest rescue missions

Financial Times M&A

Former UniCredit boss steps into governance and political quagmire to turn around indebted tech contractor

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SEC Adopts Updates to Schedule 13D and 13G Reporting

Harvard Corporate Governance

Posted by Andrew Freedman and Elizabeth R. Gonzalez-Sussman, , on Tuesday, October 24, 2023 Editor's Note: Andrew Freedman and Elizabeth Gonzalez-Sussman are Partners at Olshan Frome Wolosky LLP. This post is based on their Olshan memorandum. Related research from the Program on Corporate Governance includes The Law and Economics of Equity Swap Disclosure (discussed on the Forum here ) by Lucian Bebchuk; The Law and Economics of Blockholder Disclosure (discussed on the Forum here ) by Lucian B

Equity 218
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How to Withdraw an Employee Retention Credit (ERC) Claim

Machen McChesney

Machen McChesney would like to bring to your attention a recent announcement from the Internal Revenue Service (IRS) regarding the Employee Retention Credit (ERC) and a special withdrawal process introduced to address concerns about ineligible claims and protect small businesses from scams. This announcement is part of a broader effort by the IRS to safeguard small businesses and organizations from the barrage of suspect ERC advertising.

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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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Aging with purpose: Why meaningful engagement with society matters

Mckinsey and Company

A McKinsey Health Institute analysis shows older adults are happier and healthier when they engage more in society—and helping them do so could benefit the economy.

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Unlisted shares: buyout groups offer public investors a toehold

Financial Times M&A

Groups in Europe are increasingly willing to allow minorities to stay in companies they take private

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CPA’s Guide to Corporate Political Spending: A Practical Checklist for Management

Harvard Corporate Governance

Posted by Bruce F. Freed, Jeanne Hanna, Karl J. Sandstrom, Center for Political Accountability, on Wednesday, October 25, 2023 Editor's Note: Bruce F. Freed is President and Co-founder, Jeanne Hanna is Research Director, and Karl J. Sandstrom is Strategic Advisor at the Center for Political Accountability. This post is based on their CPA publication.

Finance 210
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Building Your Strategic Business Growth Roadmap

Redpath

Creating a strategic roadmap for growth begins with an assessment of your company and the industry landscape.

Finance 105
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Decarbonize and create value: How incumbents can tackle the steep challenge

Mckinsey and Company

While the task is not easy, incumbents—including those in hard-to-abate sectors—can decarbonize and generate value through a series of key actions.

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Endeavor: investors should beware Silver Lake’s talented negotiators

Financial Times M&A

Shareholders should gird themselves for a fight with the sharp-elbowed private equity group and Ari Emanuel

Equity 118
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TNFD Recommendations for Nature Related Disclosures

Harvard Corporate Governance

Posted by Austin J. Pierce, Betty M. Huber, and Sarah E. Fortt, Latham & Watkins LLP, on Saturday, October 21, 2023 Editor's Note: Austin J. Pierce is an Associate, Betty M. Huber and Sarah E. Fortt are Partners at Latham & Watkins LLP. This post is based on a Latham memorandum by Mr. Pierce, Ms. Huber, Ms. Fortt, Paul Davies , Michael D. Green , and James Bee.

Beta 209
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Cybersecurity Breaches: How to Protect Your FI

N Contracts

When the hacker group Scattered Spider breached MGM Casino and Resorts’ computer systems on September 11, 2023, the corporate gaming giant – with more than two dozen locations and an online sports betting operation – suffered significant material losses.

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How a defined risk appetite can improve nonfinancial risk management

Mckinsey and Company

Costly and disruptive, nonfinancial risks are an ever-present concern in the financial services industry. A defined risk appetite strategy can mitigate the problem.

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Chevron to buy US oil producer Hess for $53bn

Financial Times M&A

All-stock deal comes after ExxonMobil acquired Pioneer Natural Resources earlier this month

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Major California climate-related disclosure bills poised to become law

Harvard Corporate Governance

Posted by Loyti Cheng, David A. Zilberberg and Emily Roberts, Davis Polk & Wardwell LLP, on Sunday, October 22, 2023 Editor's Note: Loyti Cheng and David A. Zilberberg are Counsels, and Emily Roberts is a Partner at Davis Polk & Wardwell LLP. This post is based on a Davis Polk memorandum by Ms. Cheng, Mr. Zilberberg, Ms. Roberts, Stephen A.

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Tips for a Faster Month-End Close

Machen McChesney

Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel to round up data from across the organization. This process can strain internal resources, potentially leading to delayed financial reporting, errors, and even fraud. Here are some simple ways to streamline your company’s monthly closing process.

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Why AI-enabled customer service is key to scaling telco personalization

Mckinsey and Company

Telcos increasingly rely on customized commercial marketing. But integrating those efforts with service-related outreach into a comprehensive next-best-experience engine is critical for growth.

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Dealmakers see Chevron-Hess tie-up as the start of oil ‘arms race’

Financial Times M&A

The $53bn deal has sparked speculation that BP and Shell may feel forced to respond

Start-ups 111
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Remarks by Chair Gensler Before the 2023 Securities Enforcement Forum

Harvard Corporate Governance

Posted by Gary Gensler, U.S. Securities and Exchange Commission, on Thursday, October 26, 2023 Editor's Note: Gary Gensler is Chair of the U.S. Securities and Exchange Commission. This post is based on his recent remarks. The views expressed in this post are those of Chair Gensler, and do not necessarily reflect those of the Securities and Exchange Commission or its staff.

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The Social Security Wage Base for Employees and Self-Employed People Is Increasing In 2024

Machen McChesney

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income above this threshold aren’t subject to Social Security tax.

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The McKinsey Crossword: U.N. Day | No. 151

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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Private equity firms face worst year for exiting investments in a decade

Financial Times M&A

Amount buyout groups have made selling portfolio companies is running at lowest level since 2013

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What Would Happen to ESG Proposals If Vanguard, BlackRock and State Street Didn’t Vote?

Harvard Corporate Governance

Posted by Lindsey Stewart, Morningstar, Inc, on Thursday, October 26, 2023 Editor's Note: Lindsey Stewart is Director of Investment Stewardship Research at Morningstar, Inc. This post is based on his Morningstar memorandum. Related research from the Program on Corporate Governance includes The Agency Problems of Institutional Investors (discussed on the Forum here ) by Lucian Bebchuk, Alma Cohen, and Scott Hirst; Index Funds and the Future of Corporate Governance: Theory, Evidence, and Polic

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Chevron to buy oil and gas producer Hess in $53bn all-stock deal

The Guardian M&A

Takeover puts Chevron head-to-head with ExxonMobil in oil-rich Guyana and US shale industry Business live – latest updates Chevron has announced plans to buy the oil producer Hess Corporation in a $53bn (£44bn) deal, becoming the second American energy giant to place a vast bet on fossil fuel production this month. The all-stock takeover, which will increase Chevron’s presence in oil-rich Guyana, was unveiled less than two weeks after another of the world’s largest oil companies, Exxon Mobil, sa

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