Grant Thornton Thinking
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Troubled bank opportunities: What you need to know about FDIC-assisted transactions
The economic downturn and banking crisis have spurred a significant increase in the number of bank failures. Many of these troubled banks are being acquired by healthy banks through FDIC-facilitated acquisitions. For qualified banks, acquisitions of these failed banks present opportunities to grow aggressively. This white paper, Troubled bank opportunities:What you need to know about FDIC-assisted transactions, explores the accounting, tax, operational, legal, regulatory and other implications of these complex transactions.
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How are not-for-profits weathering the economic storm?
Now in its seventh year, the 2009 National Board Governance Survey for Not-for-Profit Organizations explores how not-for-profit organizations are wrestling with declining revenues, increasing governance expectations and growing scrutiny from regulators. Responses to the web-based survey were received from 465 CEOs, CFOs, board members and other top officials of higher education institutions, trade and professional associations, social and human service organizations, religious organizations, cultural organizations, health care organizations and foundations.
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The debt effect
The challenges that banks and other lending institutions continue to sort through have substantially impacted private equity deal-making. With very little leverage available, private equity deal-making came close to a standstill last year. In 2009, U.S. deal value hit its lowest level since 2001. However, a recovery is underway, and many banks have begun to lend again, albeit cautiously. In addition, an increasing number of distressed deals are expected to come down the pike. Grant Thornton’s latest white paper, The debt effect, analyzes data from the Association for Corporate Growth and other industry sources and provides insights for the year ahead. Learn more about what dealmakers can expect from lenders in 2010 and how they can thrive in this new environment.
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Dealmaker – Winter 2010
Experts generally agree that an integral part of a full economic recovery is the resumption of lending activity. Our Winter 2010 edition examines the current and projected state of the financing market and the implications for dealmakers. Other topics in this issue include our 2009 M&A year in review and a corporate finance insider’s viewpoint on some surprising factors that can affect the success of your acquisition process.
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Prepare for a clampdown on executive compensation
Historically, executive compensation plans have been designed to attract, retain and motivate key management. Today, executive compensation has become synonymous with corporate excess and managerial recklessness. The Federal Reserve Board (FRB) has proposed new guidance that will likely cause all banks to review and rethink their incentive compensation. This article reviews the principals the FRB used to create its guidance as well as methods and considerations for designing compensation plans in light of the guidelines. The article also summarizes several relevant compensation bills and their key provisions.
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Sweeter outlook for food and beverage manufacturers
In the first installment of this year’s Fast Facts on Food Processing survey, food and beverage manufacturers weigh in on their performance last year, anticipated challenges and opportunities, and their outlook for the year ahead. According to the survey, after the two years of doom and gloom since the recession began in December 2007, the glass is returning to half full for many companies. Nearly a third report operations and financial performance are back at pre-recession levels.
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Audit Committee Handbook, Fifth Edition
In our ever-changing regulatory environment, the Fifth Edition of The Audit Committee Handbook fills the need for an up-to-date reference that helps busy professionals perform their oversight responsibilities. Coauthored by two Grant Thornton partners, the Fifth Edition highlights the dynamics of the audit committee role, while providing audit committee members, CEOs, CFOs, board members and practitioners with practical recommendations and tools for use in the boardroom.
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How can integrated reporting lead to a sustainable society?
One Report refers to an emerging trend in business that is taking place throughout the world — companies are going beyond separate reports for financial and nonfinancial (e.g., corporate social responsibility or sustainability) information and are integrating both into a single report. At the same time, companies are leveraging the Internet to provide more detailed results to all of their stakeholders and to improve their level of dialogue and engagement with them. Filled with case studies and the most current trends on integrated reporting, this book is an invaluable guide on how integrated reporting can lead to a sustainable society.
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2010 Survey of Upstream U.S. Energy Companies
The Grant Thornton LLP Survey of Upstream U.S. Energy Companies 2010 provides a detailed look at the state of the industry, including trends, plans and policies. Now in its eighth year, the survey comprises responses from more than 100 senior executives of independent oil and gas exploration and service companies. Topics covered in the survey include: the year in review; prices and spending; executive retention; employment; and recent SEC guidelines on revenue recognition of proved undeveloped reserves.
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Tax: higher rates on the horizon
Governments around the world are in a tricky position; they need to raise revenue to pay off the debt used to support various key players in their economies, such as banks and motor manufacturers, but raising mainstream taxes can be a difficult ‘sell.’ This Grant Thornton International Business report on tax provides a comprehensive picture of the perceived burden of different taxes by privately held businesses. The volatility of tax systems and the misalignments of tax rules between states and regions emerge as key concerns. Too many businesses think about tax issues too late in the day and pay a high price as a consequence. The clear message to these businesses is that they must plan to cope with tax costs, both domestically and in foreign jurisdictions.
IRS offers FBAR relief to certain non-citizens, non-residents and others
The IRS has issued two new pieces of guidance providing targeted relief for certain Foreign Bank Account Report (FBAR) requirements. Announcement 2010-16 temporarily suspends the filing requirements for certain persons who are not U.S. citizens, U.S. residents or domestic entities (corporations, partnerships, trusts or estates), while Notice 2010-23 provides relief for persons with signature authority over, but no financial interest in, a foreign financial account, and persons with a financial interest in, or signature authority over, certain foreign commingled funds.
Business Optimism Index, February 2010
Grant Thornton LLP’s Business Optimism Index fell to 58.8 in February from 60.4 in November 2009. The number of U.S. business leaders who do not believe the recession will end until 2011 or later more than doubled. Find out what respondents expect for their own companies and staffing.
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Food & Beverage Industry Snapshot: 2009 in review
2009 was a particularly trying year for companies throughout the food and beverage industry. Significant changes in commodity prices, shifts in consumer preferences, fluctuating fuel and input prices, and myriad other challenges have been met with varying degrees of success by industry participants. In spite of the recession, nearly 1,200 food and beverage deals closed in 2009. Our food and beverage M&A team examines last year’s trends for signs of what lies ahead in 2010.