Sat.Apr 06, 2024 - Fri.Apr 12, 2024

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Why strategists should embrace imperfection

Mckinsey and Company

In a world of rapid change, looking for certainty can obscure opportunity. Taking smaller yet bold steps provides a more sure-footed path through uncertainty.

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Delaware Supreme Court Holds Entire Fairness Applicable to All Conflicted Controller Transactions

Harvard Corporate Governance

Posted by Gregory V. Gooding, Maeve O'Connor, and William D. Regner, Debevoise & Plimpton LLP, on Monday, April 8, 2024 Editor's Note: Gregory V. Gooding , Maeve O’Connor , and William D. Regner are Partners at Debevoise & Plimpton LLP. This post is based on a Debevoise memorandum by Mr. Gooding, Ms. O’Connor, Mr. Regner, Susan Reagan Gittes , and Jeffrey J.

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Trending Sources

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CAS-IVSC International Valuation Conference 2024

IVSC

CAS-IVSC International Valuation Conference 2024 The China Appraisal Society (CAS) and the International Valuation Standards Council (IVSC) recently co-organised an international valuation conference, hosted by the Shanghai National Accounting Institute (SNAI) from 11 – 12 April 2024. Attendees included Mr. Yu Weiping, Vice Chairman of the Committee on Economic Affairs of the CPPCC National Committee, President of the CAS, and Mrs.

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MariMed Is On A Roll: Partners With Two Iconic Music Venues In Boston, Acquires Another Illinois Cannabis Dispensary

Benzinga

Multi-state marijuana operator MariMed Inc. (CSE: MRMD ) (OTCQX: MRMD ) has closed the acquisition of Allgreens Dispensary, LLC on Tuesday, April 9, its fifth dispensary in Illinois. The Massachusetts-based company said the green light from the Illinois Department of Financial & Professional Regulation for the acquisition allows MariMed to fully consolidate the financial results of the company's Thrive-branded dispensary in Casey, Illinois.

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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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Space: The $1.8 trillion opportunity for global economic growth

Mckinsey and Company

As the space economy expands, it could create value for multiple industries and solve many of the world’s most pressing challenges.

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The Neoclassical View of Corporate Fiduciary Duty Law

Harvard Corporate Governance

Posted by Zachary J. Gubler (Arizona State University), on Monday, April 8, 2024 Editor's Note: Zachary J. Gubler is Marie Selig Professor of Law at the Arizona State University Sandra Day O’Connor College of Law. This post is based on his article forthcoming in the University of Chicago Law Review. There’s an old and venerable way of talking about corporate fiduciary duties that maintains that they are owed to the corporate entity itself.

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Paramount, Skydance Deal Could Be 'Home Run' For Shari Redstone, Loss For Shareholders, Investor Warns

Benzinga

A potential merger between media companies Skydance and Paramount Global (NASDAQ: PARA )(NASDAQ: PARAA ) has dominated headlines and could see further consolidation in the media sector. One shareholder of Paramount Global is calling out the merger efforts, which could provide cash to Shari Redstone and leave Paramount shareholders with a diluted value.

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Alex Hardiman on product outside of pure technology companies

Mckinsey and Company

Alex Hardiman, chief product officer of the New York Times, shares how a strong product-led strategy can elevate organizations across industries.

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Low Carbon Mutual Funds

Harvard Corporate Governance

Posted by Marco Ceccarelli (Vrije Universiteit), Stefano Ramelli (University of St. Gallen), and Alexander F. Wagner (University of Zurich), on Thursday, April 11, 2024 Editor's Note: Marco Ceccarelli is an Assistant Professor at Vrije Universiteit, Stefano Ramelli is an Assistant Professor at the University of St. Gallen, and Alexander F. Wagner is a Professor of Finance at the University of Zurich.

Finance 221
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Spirit Airlines Will Delay Plane Purchases and Furlough Pilots

NYT M&A

The low-cost airline, which has been unprofitable for four years, is trying to reduce costs after a federal judge blocked a proposed deal for JetBlue to acquire Spirit.

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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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The inequity method of accounting

Financial Times M&A

California family learns about private-equity hardball while selling supermarket chain

Equity 101
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Consumers Are Spending Again (Outside of China)

Mckinsey and Company

Despite economic headwinds, Chinese consumption is exhibiting encouraging signs.

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The New Framework provided by Moelis

Harvard Corporate Governance

Posted by Nathan Barnett, Ben Strauss, and Marina Leary, McDermott Will & Emery, on Wednesday, April 10, 2024 Editor's Note: Nathan Barnett and Ben Strauss are Partners and Marina Leary is an Associate a t McDermott Will & Emery. This post is based on their McDermott memorandum and is part of the Delaware law series ; links to other posts in the series are available here.

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Beeper Messaging App Is Acquired as a Bet on a Regulatory Shift

NYT M&A

Automattic, the company behind WordPress.com, bought Beeper in an effort to build a system that works across Android and Apple devices.

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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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Brookfield in talks to buy majority stake in $22bn airline lender

Financial Times M&A

Castlelake’s aircraft leasing focus fits private capital industry’s interest in asset-backed debts

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The generative AI opportunity in airline maintenance

Mckinsey and Company

For everyone from repair copilots to clerical assistants, generative AI can improve productivity and ease labor shortages. How can airlines and related companies get the basics right?

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AI Governance Appears on Corporate Radar

Harvard Corporate Governance

Posted by Subodh Mishra, Institutional Shareholder Services Inc., on Thursday, April 11, 2024 Editor's Note: Subodh Mishra is Global Head of Communications at ISS STOXX. This post is based on an ISS-Corporate memorandum by Veronica Nikitas. Key Takeaways Only about 15% of companies in the S&P 500 provide some disclosure in proxy statements about board oversight of AI.

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Tax Planning With RCReports

BVR

Tax planning is an essential aspect of financial management for businesses and individuals. However, with a complex and ever-changing tax landscape, it can be challenging to navigate these waters effectively, which is where RCReports can be a game-changer.

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Comment on The Censorship of Appraisers by Baggins

Appraisers Blog

In reply to Spencer Paul. Mature would possibly describe living fauna. Presuming nothing new was planted. This is also a human term. Try specifics; well established landscaping, xeriscaping, natural fauna, shrubs, bushes, small, large trees, garden, retaining wall, grass and sprinkler system, drip lines, trellace, shed, patios, new fence. Specifics help answer misconceptions about generalizations, can help prove value, and verify legal use.

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How to find opportunity in a crisis: Launching a spinoff business

Mckinsey and Company

The CEO and cofounder of Drop discusses spinning off an adjacent business under a new brand during the COVID-19 pandemic while still scaling up the initial startup.

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The Shareholder Activism of Anti-Discrimination Proponents

Harvard Corporate Governance

Posted by Scott Shepard, Stefan Padfield, and Ethan Peck (The National Center for Public Policy Research), on Thursday, April 11, 2024 Editor's Note: Scott Shepard is General Counsel and Director, Stefan Padfield is Deputy Director, and Ethan Peck is an Associate of the Free Enterprise Project (FEP) at The National Center of Public Policy Research (NCPPR).

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Cannabis Platform Vangst Acquires CannabizTeam's Temp Staffing Division Amid Hiring Surge

Benzinga

Cannabis industry's leading hiring platform Vangst has acquired CannabizTemp, the temporary staffing division of CannabizTeam. What Happened The company said on Friday the acquisition was 50% cash and 50% stock and is the first acquisition in the cannabis human resources (HR) space. The integration of CannabizTemp customers into Vangst will commence immediately.

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Comment on The Censorship of Appraisers by Spencer Paul

Appraisers Blog

White House officials are engaging in the censorship campaign as part of a federal valuation task force known as PAVE.

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Embedded finance: The choices and trade-offs for US banks

Mckinsey and Company

No risk, no reward. Banks can design an embedded-finance offering based on their size, distribution footprint, customer base, and product portfolio.

Finance 127
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CEO Compensation and Cash-Flow Shocks: Evidence from Changes in Environmental Regulations

Harvard Corporate Governance

Posted by Ross Levine (Stanford University), on Tuesday, April 9, 2024 Editor's Note: Ross Levine is a Senior Fellow at the Hoover Institution at Stanford University. This post is based on a NBER working paper by Seungho Choi , Professor Levine, Raphael Jonghyeon Park , and Simon Xu. Foundational theories of the firm suggest that (1) shocks to expected cash flows influence shareholder preferences toward corporate risk-taking, and (2) shareholders may respond by altering the risk-taking incentive

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EU Approves Biotech Co. Illumina's Plan To Divest Grail

Law 360 M&A

European Union antitrust authorities on Friday approved Illumina's plan to sell off Grail, the latest development in a saga that saw the biotech company reverse course and agree to offload the cancer-screening company after authorities claimed the reacquisition was completed "unlawfully.

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Comment on The Censorship of Appraisers by Spencer Paul

Appraisers Blog

How many of you would be surprised to know: “It’s funny, because FNMA’s collateral underwriter tool has a line item adjustment it makes on every comparable called the “CBG” adjustment. CBG stands for Census Block Grid. It’s essentially a location adjustment based on the median values of homes in that CBG. In my opinion, this adjustment the FNMA model makes is pretty much, in my personal opinion, is the equivalent of red lining.

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How institutional investors can gain a performance edge

Mckinsey and Company

Christopher Ailman, chief investment officer of the California State Teachers’ Retirement Fund, explains how performance can be enhanced by culture, diversification, and limiting CIO turnover.

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HLS Forum on Corporate Governance Continues Growing

Harvard Corporate Governance

The Harvard Law School Forum on Corporate Governance published a total of 647 posts during 2023, and its readership has continued to display steady growth, including: Attracting more than 200,000 unique readers a month; Having visitors to the Forum coming from 233 countries and territories during the year; and Attracting more than 4.1 million page views.

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Oil & Gas Roadblocks: Prices, Production, And People Holding Sway

Auto Dealer Valuation Insights

There are always going to be barriers to success in an industry. Barriers to entry, barriers to growth, barriers to profitability, and barriers to progress can lurk to name a few. The upstream industry has its share. For gas, its own oversupply and low prices are an issue. For oil, capital constraints are reining in investment.

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Comment on The Censorship of Appraisers by Bill Johnson

Appraisers Blog

In reply to Spencer Paul. They said the word close is considered an opinion and instead I should use the actual distance to what is being referenced. Whatever. Seek the truth.

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Swap Exchange | No. 175

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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The Global South in Comparative Corporate Governance

Harvard Corporate Governance

Posted by Mariana Pargendler (Fundação Getulio Vargas Law School), on Wednesday, April 10, 2024 Editor's Note: Mariana Pargendler is Full Professor of Law at Fundação Getulio Vargas Law School in São Paulo. She will join Harvard Law School as Professor of Law in July 2024. This post is based on her SSRN working paper. How does the Global South relate to the global debates on corporate governance?

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FTC 'Hopeful' Merger Judges Can See Past Market Definition

Law 360 M&A

The Federal Trade Commission's top antitrust enforcer emphasized Thursday that the FTC and Justice Department's new merger guidelines could facilitate transaction challenges based solely on "direct" competitive effects, regardless of what market definition numbers indicate.