Sat.Feb 04, 2023 - Fri.Feb 10, 2023

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Your Trade Has Been Under Assault for Years!

Appraisers Blog

Your trade has been under assault for years. The de minimus rule was the first I sensed of the end of your trade. I am going off of vague memory but I think it was 1997, and at the time, the near majority of my town was below the $250,000 threshold, as were 90% of the towns adjacent. I remember an old horse telling me the handwriting was on the wall for him and his kind.

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Factors That Will Impact Proxy Season 2023

Harvard Corporate Governance

Posted by Dorothy J. Flynn, and Chuck Callan, Broadridge, on Thursday, February 9, 2023 Editor's Note: Dorothy Flynn is President of Corporate Issuer Solutions and Chuck Callan is Senior Vice President of Regulatory Affairs at Broadridge Financial Solutions. This post is based on their NACD publication. Choppy market valuations, more engaged shareholders, and new regulations will create new challenges for corporate governance in the upcoming proxy season.

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Trending Sources

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Subway Sale Tests LBO Market

Global Finance

A Subway sale would be the biggest restaurant M&A deal since Inspire Brands bought Dunkin’ for $11.3 billion in 2020.

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Find out about the proposed updates to IVS!

IVSC

In April, the IVSC’s standards boards will publish details of proposed updates to the International Valuation Standards (IVS). The IVS are regularly updated to reflect changing market and practitioner needs, with the last update introduced in January 2022. The proposed changes will be set out in an Exposure Draft which will go out for consultation over a twelve-week period.

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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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Top 5 Growing Business Industries in Charleston, SC in 2023

Viking Mergers

At Viking Mergers & Acquisitions, we help people all over the Southeast as they prepare to exit a business or acquire a new one. Whether you’re looking for a business or a buyer, the Charleston, South Carolina, area should be on your shortlist. Last year’s 2022 Top States for Doing Business report from Area Development ranked South Carolina #3 overall.

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Global Corporate Credit ESG Engagement Report

Harvard Corporate Governance

Posted by Jonathan Bailey, Savannah Irving, Neuberger Berman LLC, on Saturday, February 4, 2023 Editor's Note: Jonathan Bailey is a Managing Director and Head of ESG Investing, and Savannah Irving is an Associate at Neuberger Berman LLC. This post is based on their Neuberger Berman memorandum. In recent years a variety of market disrupting events have underscored the importance of active ownership and the analysis of material environmental, social and governance (ESG) factors in fundamental cred

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Preview: Valuation Lessons Learned From the Gaming Industry

BVR

The 2023 edition of the Business Valuation Update Yearbook is out now and captures key changes in regulations, important takeaways from conferences, and last year's most groundbreaking and thought-provoking advancements in BV.

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Japan: Regional Bank M&A On The Rise

Global Finance

While the decline of regional banks in Japan can be traced as far back as the mid-1980s and 1990s, led mainly by a series of bankruptcies up until around 2003, the precipitous drop since the mid-1990s has been mainly due to mergers and acquisitions.

Banking 116
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Director Perspective: Top Priorities of 2023

Harvard Corporate Governance

Posted by Ted Sikora, NACD, on Friday, February 10, 2023 Editor's Note: Ted Sikora is a Project Manager, Surveys and Business Analytics at NACD. This post is based on his NACD publication. If 2020 was the year of the COVID-19 pandemic and 2021 was the year of building toward recovery, 2022 offered little respite for directors overseeing companies amid a chaotic business environment.

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How our interconnected world is changing

Mckinsey and Company

What’s the fate of globalization? New research breaks down changes in the global flows that bind us together—and what those changes mean for our collective future.

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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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Amazon Eyes India's Video Streaming Provider MX Player To Expand Presence In Country

Benzinga

Amazon.Com, Inc (NASDAQ: AMZN ) engaged with Times Internet to explore the acquisition of MX Player , one of India's largest on-demand video streaming services. The financial terms of the transaction remain undisclosed, TechCrunch reports. At least two more players, including Zee and Sony Group Corp (NYSE: SONY ), shared an interest in acquiring MX Player.

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Picking Golden Shares Over Tech Crackdown

Global Finance

China's government is relaxing its crackdown on the tech sector while scooping up premium shares in certain players in the tech industry.

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Expanding and Diversifying Director Candidate Pools through Subsidiary Board Service

Harvard Corporate Governance

Posted by Michael Rossen, Kay Brkic, Deloitte LLP, on Sunday, February 5, 2023 Editor's Note: Michael Rossen is a Managing Director and Kay Brkic is a Senior Manager at Deloitte LLP. This post is based on a Deloitte LLP memorandum by Mr. Rossen, Ms. Bkic, Richard Levine , and Ian MacDonald. Related research from the Program on Corporate Governance includes Politics and Gender in the Executive Suite (discussed on the Forum here ) by Alma Cohen, Moshe Hazan, and David Weiss; Will Nasdaq’s Diver

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Investing in a net-zero economy: Scaling blended finance

Mckinsey and Company

The scale of financing required for the transition to net zero is immense and the current financial gap substantial, making it vital to rapidly increase blended finance.

Finance 109
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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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EXCLUSIVE: Boston's First Black Female Cannabis Shop Owner Has Some Advice For Millennials And The Rest Of Us

Benzinga

As founder and CEO of The Heritage Club, a mission-driven Boston cannabis dispensary, Nike John is the youngest dispensary owner in Boston and the first Black woman to own a dispensary in a major city on the East coast. At 29 years old, John founded the cannabis dispensary and its non-profit subsidiaries as a way to not only provide safe cannabis products and support conscious consumption but to give back to the community and create a medium to help remedy the damage caused by the war on drugs.

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Drive New Business in 3 Simple Steps: A Guide to the BizEquity Prospecting Tool

Biz Equity

If you’re like most advisors, you didn’t get into this business to do marketing and sales. You became an advisor to help your clients meet their financial goals and ultimately improve their lives. But as our industry becomes increasingly crowded, it’s more important than ever for advisors to master the art of prospecting – the process of initiating and developing new business by searching for potential clients.

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Corporate Officers, Not Just Directors, Can Be Liable for Duty of Oversight Violations

Harvard Corporate Governance

Posted by Jonathan Youngwood, Nicholas Goldin, and Stephen Blake, Simpson Thacher & Bartlett LLP, on Tuesday, February 7, 2023 Editor's Note: Jonathan K. Youngwood , Nicholas Goldin , and Stephen Blake are Partners at Simpson Thacher & Bartlett LLP. This post is based on their Simpson Thacher memorandum and is part of the Delaware law series ; links to other posts in the series are available here.

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The power of goodbye: How carve-outs can unleash value

Mckinsey and Company

Separations can be a once-in-a-lifetime opportunity to create value for the remaining and separated companies. The secret? Get granular about support costs and personal about talent.

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Pachter Pounds The Gavel On Activision Deal, Says Microsoft Prepared To Beat Regulators 'Into Submission'

Benzinga

The United Kingdom's Competitions and Markets Authority has indicated the deal between Activision Blizzard Inc (NASDAQ: ATVI ) and Microsoft Corp (NASDAQ: MSFT ) could hurt competition in the space. Wedbush analyst Michael Pachter laid out why the regulatory chatter is really just noise and explained why he expects the deal to go through on Benzinga's PreMarket Prep show.

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Public Storage Proposes to Acquire Life Storage in All-Stock Transaction

Business Wire M&A

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE: PSA), the nation’s leading owner, acquirer, developer, and operator of self-storage properties, today sent a letter to Mark G. Barberio, Life Storage’s Chairman, and Joseph V. Saffire, Life Storage’s CEO, copied in full below, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage, Inc.

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?Mergers and Acquisitions—2023

Harvard Corporate Governance

Posted by Victor Goldfeld, Mark Stagliano, and Anna D’Ginto, Wachtell, Lipton, Rosen & Katz, on Wednesday, February 8, 2023 Editor's Note: Victor Goldfeld and Mark Stagliano are Partners and Anna D’Ginto is an Associate at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell memorandum by Mr. Goldfeld, Mr. Stagliano, Ms. D’Ginto, Adam O.

Finance 173
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The ERP platform play: Cheaper, faster, better

Mckinsey and Company

Enterprise resource planning upgrades can be expensive and complex—and unavoidable. A product and platform approach can manage costs and improve outcomes.

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Microsoft Threading Needle In Activision Merger Challenges

Law 360 M&A

The Federal Trade Commission's bid to block Microsoft's attempted merger with Activision represents an important test for an agency eager to push antitrust enforcement in a more aggressive direction and turn the tide after a year of stinging failed merger challenges.

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Apollo Weighs Buying Stake In Credit Suisse's Investment Banking Unit

Benzinga

Apollo Global Management (NYSE: APO ) is reportedly looking to buy a stake in Credit Suisse Group Inc's (NYSE: CS ) revamped investment bank. Credit Suisse said last year that it would split off its investment bank into an independent capital market & advisory bank called CS First Boston. The troubled bank said it would raise outside capital to launch the new entity, which it hopes to list in a separate initial public offering eventually.

Banking 98
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ESG in 2023: Politics and Polemics

Harvard Corporate Governance

Posted by David N. Katz, and Laura A. McIntosh, Wachtell, Lipton, Rosen & Katz, on Monday, February 6, 2023 Editor's Note: David N. Katz is a Partner and Laura A. McIntosh is a Consulting Attorney at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) and For Whom Corporate Leaders Bargain (discussed on the Foru

Equity 152
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Federal financial management: How governments can do more with the budgets they have

Mckinsey and Company

Tools that enable more agile and transparent financial management can help government leaders tie resources directly to mission outcomes, boosting the impact of taxpayer funds.

Finance 97
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How to Write OKRs: A Step-By-Step Guide

Rhythm Systems

Are you feeling overwhelmed by how your team is measuring success? Are you looking for an easy-to-understand way to set targets and understand progress? Don't worry - Objectives & Key Results (OKRs) are here to save the day. OKRs are a process used by many leading companies to measure progress across departments and divisions, track the big picture, and help teams stay aligned with their overall objectives.

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Flowserve Acquires Velan For $245M; Provides Solid Q4 Preliminary Results

Benzinga

Flowserve Corp (NYSE: FLS ) has agreed to acquire Velan Inc (OTC: VLNSF ) in a transaction valued at approximately $245 million (C$329 million). Founded in Montreal in 1950, Velan is a manufacturer of industrial valves with a strong presence in the nuclear, cryogenic and defense markets. Velan is a family-controlled business with a team of 1,650 people and manufacturing facilities in nine countries.

Equity 98
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Does Greater Public Scrutiny Hurt a Firm’s Performance?

Harvard Corporate Governance

Posted by Benjamin Bennett (Tulane University), René M. Stulz (Ohio State University), and Zexi Wang (Lancaster University), on Monday, February 6, 2023 Editor's Note: Benjamin Bennett is Assistant Professor at the Tulane University A.B. Freeman School of Business; René M. Stulz is the Everett D. Reese Chair of Banking and Monetary Economics at the Fisher College of Business at The Ohio State University; and Zexi Wang is an Associate Professor at the Lancaster University School of Management

Banking 138
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Resilience in crisis: Perspectives from Davos

Mckinsey and Company

Delegates from many sectors across the globe gathered at Davos this year to discuss a world affected by unprecedented crises and an uncertain future. What are the key themes that emerged?

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Top OCC Lawyer Calls For 'Better Mousetrap' In Bank Mergers

Law 360 M&A

The Office of the Comptroller of the Currency's top lawyer on Friday called for regulators to "build a better mousetrap" for reviewing bank merger transactions, saying there's a greater chance that harmful mergers will get approved if the current review framework isn't updated.

Banking 97
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What's Going On With Manchester United Stock?

Benzinga

Manchester United PLC (NYSE: MANU ) shares are rising in Tuesday's after-hours session following reports Qatari investors would make a bid for the football club within days. What To Know: According to a Daily Mail report , Manchester United was expected to receive a "massive offer" from Qatari investors as soon as this week. The report indicated sources said a group of "private, high-wealth individuals" in Qatar were interested in purchasing the football club, which they

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Proxy voting policy for U.S. portfolio companies

Harvard Corporate Governance

Posted by John Galloway, Vanguard, Inc., on Tuesday, February 7, 2023 Editor's Note: John Galloway is Global Head of Investment Stewardship at Vanguard, Inc. This post is based on a publication by Vanguard Investment Stewardship. Introduction The information below, organized according to Vanguard Investment Stewardship’s four principles, is the voting policy adopted by the Boards of Trustees of the Vanguard-advised funds (the “Funds’ Boards”) [1] and describes the general positions of the funds

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What does sustainable and inclusive growth mean to leaders?

Mckinsey and Company

Senior partner and McKinsey Global Institute director, Kweilin Ellingrud, talks about her key takeaways from her discussions with CEOs at Davos, and how businesses can meaningfully pursue sustainable, inclusive growth.

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