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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Boards of Directors in Disruptive Times: Improving Corporate Governance Effectiveness

Harvard Corporate Governance

Posted by Jordi Canals (IESE Business School), on Wednesday, October 25, 2023 Editor's Note: Jordi Canals is Professor of Strategic Management and the holder of Fundación IESE Chair in Corporate Governance at IESE Business School. This post is based on his book. Disney’s board of directors fired CEO Bob Chapek on November 20, 2022. He was nominated for that job in February 2020 to replace Bob Iger -Disney CEO between 2005 and 2020-, after several board attempts in previous years to speed up Ig

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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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Chevron to Acquire Hess for $53 Billion in Latest Major Oil Deal

NYT M&A

The acquisition marks further consolidation of the oil industry and highlights the confidence that energy companies have in the future of fossil fuels.

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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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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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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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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 241
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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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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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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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What is ARR (Annual Recurring Revenue) and How Do You Calculate It?

Lighter Capital

Recurring revenue is the beating heart of your SaaS company. As a metric, known as ARR, this revenue helps you work towards increasing your subscriber base, compounding your growth, and developing a better product over time. Read on as we take a look at ARR and discuss why it’s important for SaaS companies to track, providing a clear definition, the formula, and a review of some calculation examples.

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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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The Journey to Achieving a BHAG of 10 Million Shoes

Rhythm Systems

I am still reflecting on what an inspiring experience Christine Rutherford and I had last week traveling to South Africa as part of a larger mission to help Samaritan’s Feet International hit their BHAG ( Big Hairy Audacious Goal ) of serving the 10 millionth recipient with a pair of shoes. I am grateful to have brought our Head of Sales, Christine, alongside me - who was so focused on giving back and connecting with everyone we met.

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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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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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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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California enacts major climate-related disclosure laws

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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Comment on VA Appraisal Request Form at Heart of AIR Violation Class Action by Mike Ford, AGA™

Appraisers Blog

In reply to Spencer Paul. Paul, we are required to report point values. Truth is property has value ranges as you know. $400,000 property may be $380k-$400k: $390k-$410k, $400k-$420k. I could be anywhere in the above ranges and not be ‘wrong’ Id hate to kill a deal just because I reconciled to the lower end while a contract was mid range.

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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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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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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 220
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Free up cash with the Working Capital Checklist

JPAbusiness

From a day-to-day point of view, the more cash surplus in your business, the more value in your pocket. Having surplus cash that can be used as working capital also gives your business more options to grow, invest and change. Taking the longer-term perspective, ability to generate cash is a critical component when it comes to determining the value of the business should you wish to exit.

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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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Comment on Fannie Mae Filed a Complaint Against Me by Maria

Appraisers Blog

Would it be possible that these complains would reach your state license agency? Earlier or later, if not now already, you will be accused by fannie. Maybe go ahead of time and help those who are accused now, and your future yourselves? Also, I am asking all of you who were accused to send your thoughts to your license agency: to your State Appraisal Board.

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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.

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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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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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Comment on Bringing More People Into a Dying Profession! by Raymond

Appraisers Blog

In reply to Overpaid lazy appraiser. funny story about 8-9 years, I received an email from a AMC, requesting a residential appraisal on a high luxury home that had a approximate value of $5 million dollars. AMC was $350 and 3 day TT. I was familiar with the difficult area to appraise. Now I gave up doing AMC work in 2000. But I decided to quote a Fee of $3,500 and 3-4 weeks, just to see if I would get a response.

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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 211
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Does Market Value Equal Your Ultimate Sale Price?

BV Specialists

In a perfect world, the advice and opinions that professionals provide you and your business regarding expected events would always occur exactly how they thought they would. In reality, the number of variables that can potentially impact the results of any transaction, from a personal or business perspective, are many, and the best anyone can do is reasonably understand them and estimate how they will impact the situation.

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Beyond ‘quiet luxury’: Brunello Cucinelli’s billion-dollar growth formula

Mckinsey and Company

The Italian luxury brand’s North American CEO, Massimo Caronna, shares how strategic supply chain investments and a contrarian approach to growth will keep it around longer than any trend cycle.

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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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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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Mastering the Art of Depreciation: Choose the Perfect Tool for Your Business

Gross Mendelsohn

Depreciation: the unsung hero of every business's accounting saga. It's the silent force that ensures your financial records dance to the rhythm of balance, a vital element in the complex symphony of profit and loss. Yet, for all its importance, selecting the right depreciation tool can be daunting. Fear not! We're here to turn this mundane topic into a thrilling expedition through the world of financial wizardry.

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