Sat.Sep 07, 2024 - Fri.Sep 13, 2024

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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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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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The beauty boom and beyond: Can the industry maintain its growth?

Mckinsey and Company

The global beauty industry continued to grow in 2023, but the dynamics driving sector growth are shifting. A new analysis shows some emerging bright spots and how players can compete.

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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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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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Relative TSR Awards: Challenges and Trade-Offs

Harvard Corporate Governance

Posted by Szu Ho, Ira Kay, and Joadi Oglesby, Pay Governance LLC, on Monday, September 9, 2024 Editor's Note: Szu Ho is a Principal, Ira Kay is a Managing Partner, and Joadi Oglesby is a Consultant at Pay Governance LLC. This post is based on their Pay Governance memorandum. Introduction Thousands of companies, including more than 70% of the S&P 500 companies, grant performance stock units (PSUs) with relative total shareholder return (TSR) or stock price performance-vesting conditions.

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Dealing with Aging: Updating the Intel, Walgreens and Starbucks Stories!

Musings on Markets

A few weeks ago, I posted on the corporate life cycle , the subject of my latest book. I argued that the corporate life cycle can explain what happens to companies as they age, and why they have to adapt to aging with their actions and choices. In parallel, I also noted that investors have to change the way they value and price companies, to reflect where they are in the life cycle, and how different investment philosophies lead you to concentrated picks in different phases of the life cycle.

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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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A Deeper Look at the Scope, Impact, and Risks of Company Political Spending

Harvard Corporate Governance

Posted by Bruce Freed and Jeanne Hanna, Center for Political Accountability, on Saturday, September 7, 2024 Editor's Note: Bruce F. Freed is President and Co-Founder and Jeanne Hanna is a Research Director at the Center for Political Accountability. This post is based on their CPA memorandum. What exactly is the scope and impact of corporate political spending?

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ValuAsia Connect Webinar Series: Financial Instruments

IVSC

Introduction Welcome back to ValuAsia Connect, your gateway to the vibrant world of valuation in Asia! Building on the success of our previous webinars on ESG and Intangible Assets, we are thrilled to present the latest edition: ValuAsia Connect – Financial Instruments. Hosted by the International Valuation Standards Council (IVSC) and the Institute of Valuers and Appraisers, Singapore (IVAS), this session will explore the intricate challenges of valuing financial instruments, a key area in toda

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Innovation hubs: How GCCs are shaping the future of business

Mckinsey and Company

Global capability centers (GCCs) are rapidly evolving beyond their traditional roles as execution centers, becoming increasingly important as enterprise innovation hubs.

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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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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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Recap of the 2024 Say on Pay Season

Harvard Corporate Governance

Posted by Linda Pappas, Perla Cuevas, and Jose Lawani, Pay Governance LLC, on Tuesday, September 10, 2024 Editor's Note: Linda Pappas is a Principal, and Perla Cuevas and Jose Lawani are Consultants at Pay Governance LLC. This post is based on their Pay Governance memorandum. Key Takeaways The number of failed S&P 500 SOP proposals (n=4) is tied with an all-time low previously observed in 2015 Improvement in 1- and 3-year TSR performance ending in FY2023 compared to the prior period TSR per

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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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The bumpy road to zero-emission trucks

Mckinsey and Company

The shift to zero-emission trucks brings opportunities and challenges for the industry in core areas such as powertrain, service, and vehicle digitization. Making it happen will require greater cooperation.

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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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DirecTV’s Dispute With Disney Shows Why Satellite TV Is in Trouble

NYT M&A

While the cable TV business is declining quickly, satellite TV is decaying even faster.

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Rewriting the Rules for Corporate Elections

Harvard Corporate Governance

Posted by Ben Bates (Harvard Law School), on Monday, September 9, 2024 Editor's Note: Ben Bates is a Research Fellow at the Harvard Law School Program on Corporate Governance. This post is based on his recent paper. For the last decade and a half, boards of directors have been gradually rewriting their companies’ election bylaws. Specifically, boards have gradually added more and more disclosure requirements that shareholders must meet in order to nominate alternative board candidates.

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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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Revitalizing organizational health in the care delivery sector

Mckinsey and Company

The care delivery sector continues to navigate challenges following the height of the COVID-19 pandemic. Meaningfully improving organizational health will be crucial to optimizing performance.

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Murdoch vs Murdoch: the legal battle dividing media’s first family

Financial Times M&A

The tycoon’s attempt to wrest control of his empire away from three of his children is set to be resolved in a Nevada court

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Lying in Corporate Elections

Harvard Corporate Governance

Posted by Kai H. E. Liekefett and Derek Zaba, Sidley Austin LLP, on Friday, September 13, 2024 Editor's Note: Kai H. E. Liekefett and Derek Zaba are Partners at Sidley Austin LLP. We live in polarising times. The current political and cultural environment is arguably the most heated and controversial in decades. One of the most prominent victims of our era: the truth.

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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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How Ventas used machine learning and AI to create a net-zero plan

Mckinsey and Company

A real estate company committed to reaching net zero took a more efficient—and pioneering—approach.

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Spain vetoed Hungarian bid for train group ‘over Ukraine concerns’

Financial Times M&A

Madrid did not want Budapest to acquire Talgo gauge technology that Kyiv needs for its rail system, says official

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Trade Agencies’ New Corporate Governance Toolkit

Harvard Corporate Governance

Posted by Kathleen Claussen (Georgetown Law), on Thursday, September 12, 2024 Editor's Note: Kathleen Claussen is a Professor of Law at Georgetown Law. This post is based on her recent article forthcoming in the Harvard International Law Journal. A novel form of corporate regulation is on the rise. The “trade police,” as my article calls them, are the front-line bureaucrats who enforce the laws surrounding cross-border business.

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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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Reasons an LLC Might Be the Ideal Choice for Your Small Business

Machen McChesney

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability, and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. It can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes.

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UniCredit’s push for European bank consolidation looks on target

Financial Times M&A

Regulators and politicians should, this time, allow the race to run its course

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SEC Enforcement – Top Four Developments from July 2024

Harvard Corporate Governance

Posted by Adam Aderton, Elizabeth Gray, and Kristina Littman, Willkie Farr & Gallagher LLP, on Thursday, September 12, 2024 Editor's Note: Adam Aderton , Elizabeth P. Gray , and A. Kristina Littman are Partners at Willkie Farr & Gallagher LLP. This post is based on a Willkie memorandum by Mr. Aderton, Ms. Gray, Ms. Littman, Michael J. Passalacqua , and Erik Holmvik.

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Five fundamental truths: How B2B winners keep growing

Mckinsey and Company

Our latest B2B Pulse Survey reveals that across all sectors and regions, market leaders continue to experiment, invest, and commit to omnichannel sales as the path to sustainable growth.

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GB News investor Paul Marshall seals £100m deal to buy Spectator

The Guardian M&A

Hedge fund tycoon is also in talks with RedBird IMI to acquire Daily and Sunday Telegraph Business live – latest updates Sir Paul Marshall has sealed a £100m takeover of the Spectator magazine as the backer of GB News completes the next stage of his ambition to control a significant swathe of the UK’s conservative and rightwing media outlets. Marshall, the hedge fund tycoon who already owns the UnHerd website, is also in the running to buy The Daily and Sunday Telegraph with the second round of

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Paul Marshall bolsters media baron credentials with £100mn Spectator purchase

Financial Times M&A

GB News owner’s acquisition of historic magazine has raised concerns over editorial direction

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Recent Trends in Parallel Derivative Action Settlement Outcomes

Harvard Corporate Governance

Posted by Tijana Brien, Anne Bigler, and Sarah Topol, Cooley LLP, on Wednesday, September 11, 2024 Editor's Note: Tijana Brien is a Partner and Anne Bigler and Sarah Topol are Associates at Cooley LLP. This post is based on their Cooley memorandum. A new report by Cornerstone Research , a top consulting and expert testimony firm, highlights recent trends in settlements of derivative lawsuits brought in parallel to securities class actions.

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A data leader’s operating guide to scaling gen AI

Mckinsey and Company

Deploying generative AI in the enterprise requires a data-centric road map. Leaders can use a well-defined operating model to successfully scale the technology.

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Miami Dolphins Deal Talks Gain Momentum

NYT M&A

Owner Stephen Ross is talking to private equity firms after the N.F.L. changed the rules on what types of investors can buy into the league.