Wednesday, May 20, 2020
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It's been ten weeks since the WHO declared the coronavirus outbreak a pandemic, and the NBA cancelled games. As of this writing, the NY Post reports: Total cases globally = 4,897,492; Deaths = 323,285.
"In its 2018 report on comment letter trends, Ernst & Young (EY 2018) notes that 12 percent of comment letters reference a registrant’s disclosures associated with state sponsors of terrorism, making SST the seventh most common topic in 2018." #corpgov https://t.co/RaPD71q53P— Stefan Padfield (@ProfPadfield) May 19, 2020
COVID-19 or the lockdowns? "COVID-19 had a marked impact on M&A in April, extending the decline observed in March across all measures. Globally, the number of deals decreased by 24.2%, to 2,036, and total deal value decreased by 44.3%, to $118.34 billion." #corpgov https://t.co/rtzxAJkn11— Stefan Padfield (@ProfPadfield) May 19, 2020
If "labor markets & product markets are competitive, the shareholder primacy & stakeholder paradigms would lead to identical corporate policies. When these markets are not competitive" interventions should complement, not substitute for, long-term SH value maximization. #corpgov https://t.co/FdxkGWvuOv— Stefan Padfield (@ProfPadfield) May 18, 2020
Some governors have treated religion "the way you might treat going to a movie"; "less essential than say, hardware stores." That is "impermissible." Religious worship is "one of the most highly protected of all constitutional rights." https://t.co/yaQLn2fI7Z #corpgov— Stefan Padfield (@ProfPadfield) May 17, 2020