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Boards need to step up their game and guide their organizations toward the next normal.
Move won’t apply to goods imported from China, steel or aluminum
Companies searching for new executives expected to rely on temporary workarounds and to share responsibilities between several executives, recruiters say. Lululemon is doing just that.
The pandemic has created massive business disruption, and weeks or months of further market dislocation and volatility seem certain. Equally certain is that stockholder lawsuits will appear as (or perhaps even before) the disruption begins to resolve.
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Institut sur la gouvernance (IGOPP)
April 18, 2020 10:25 PM
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After successive years of higher-than-promised federal deficits and record levels of per-person federal spending, the Trudeau government now finds itself less prepared to respond to the COVID-19 pandemic. This blog post estimates where federal finances could have been prior to the recession had the Trudeau government followed the fiscal rules used by the Chrétien Liberals in the mid-90s and early 2000s.
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Institut sur la gouvernance (IGOPP)
April 17, 2020 10:03 AM
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Working Group on Business Continuity and Trade discussed the need for a “playbook” to restart Canada’s economy, the implementation of supports for businesses to “bridge” the present shutdown, and the importance of continued investment in robust telecommunications infrastructure to meet the current surge in demand.
Attitudes surrounding the cannabis industry have undoubtedly evolved in Canada. After decades of prohibition, this often stigmatized plant has arguably become normalized and integral to our modern-day society. This has been made even more apparent by various federal and provincial responses towards cannabis businesses in the current global pandemic.
Once the virus is truly beaten, the crisis could weaken structural forces weighing on demand
Dividends are a healthy part of capitalism. In the covid era, many firms should cut them
On March 4, 2020, the SEC voted 3-1 to propose amendments to “simplify, harmonize, and improve certain aspects” of the framework for offerings exempt from Securities Act registration. The amendments cover a number of areas, including integration, general solicitation and offering communications, and Rule 506(c) verification requirements. We discuss below selected key aspects of the proposal.
Shoppers rushing to stock up on medicine and cleaning supplies drove increase; sales rose 10% in U.S., offsetting declines in China
GDP contraction of 6.8% foreshadows pain likely to be reported world-wide
Country asks investors to take a 62% haircut on coupons to stave off ninth default
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As pandemic focus expands to include the reopening of the economy, board attention may now pivot to its unique oversight obligation for business resiliency. This is especially the case given new federal “Opening Up America” guidelines under which states may choose to reopen businesses, as well as schools and day-to-day activities.
The Black Death and other pandemics pushed wages higher, but the impact will likely be different this time, economists say
As the economy continues to experience daily turmoil in the wake of the COVID-19 crisis, it becomes increasingly likely that some companies will feel the need to enter into dilutive financings and downside exits.
In a recent note on the business implications of COVID-19, McKinsey & Company advised corporate leaders to forget about trying to conduct “business as usual” and focus instead on ensuring the safety of employees, creating cross-functional response teams, ensuring liquidity, stabilizing supply chains, staying close to customers, practicing disruption plans, and demonstrating purpose by supporting community response efforts.
COVID-19’s speed and scale breed uncertainty and emotional disruption. How organizations communicate about it can create clarity, build resilience, and catalyze positive change.
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Institut sur la gouvernance (IGOPP)
April 17, 2020 10:00 AM
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Schroders and Hermes EOS warn boards that top executives must “share the pain” of the economic downturn, with pay “aligned with the experience of the wider workforce”.
The oil slump is a glimpse of what is to come
Institutional investors in 15 major pharmaceutical companies have called on the drugmakers to set aside rivalries and short-term interests and cooperate on finding solutions to the coronavirus.
Plan establishes three phases for return to normal operations as top officials call for caution
Howard Willard, under pressure for Juul investments, had temporarily stepped aside after being diagnosed with coronavirus
Survey finds fewer big companies calling ‘decoupling’ impossible in March than last October
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