This is actually an LOS… 1890: The Sherman Antitrust Act made any contracts or combinations that attempted to restrain trade or create a monopoly in an industry illegal. The Act was ineffective because the U.S. Department of Justice lacked enough resources to enforce it. Within a few years, the Sherman Act was challenged in the courts and deemed unenforceable due to ambiguous wording. 1914: The Clayton Antitrust Act was passed to improve upon the Sherman Act by detailing specific business practices deemed illegal. In order to enforce the new law, the Federal Trade Commission Act of 1914 was also enacted to create the Federal Trade Commission (FTC) as a regulatory agency to work with the U.S. Department of Justice. 1950: The Celler-Kefauver Act was passed to address weaknesses in the Clayton Act. For example, the Clayton Act only regulated stock purchases, and not asset purchases. Celler-Kefauver closed this loophole and also added new rules to address antitrust behavior pertaining to vertical and conglomerate mergers. 1976: The Hart-Scott-Rodino Antitrust Improvements Act of 1976 required all potential mergers to be reviewed and approved of in advance by the FTC and Department of Justice. Prior to 1976, a merged company had to be dissembled after the fact if the merger was deemed anticompetitive.
Banni had a good idea to remember this You have to remember sherman 1890 then it goes Clayton (1 name) Celler-Kefaurver( 2 names) Hart-Scott-Rodino (3 names)
Good List ADD Stock/option based compensation - expense
And another one which you want to get right on Saturday: Divestitures refer to a company selling, liquidating, or spinning off a division or subsidiary. Most divestitures involve a direct sale of a portion of a firm to an outside buyer. The selling firm is typically paid in cash and gives up control of the portion of the firm sold. Equity carve-outs create a new, independent company by giving an equity interest in a subsidiary to outside shareholders. Shares of the subsidiary are issued in a public offering of stock, and the subsidiary becomes a new legal entity whose management team and operations are separate from the parent company. Spin-offs are like carve-outs in that they create a new independent company that is distinct from the parent company. The primary difference is that shares are not issued to the public, but are instead distributed proportionately to the parent company’s shareholders. This means that the shareholder base of the spin-off will be the same as that of the parent company, but the management team and operations are completely separate. Since shares of the new company are simply distributed to existing shareholders, the parent company does not receive any cash in the transaction. Split-offs allow shareholders to receive new shares of a division of the parent company in exchange for a portion of their shares in the parent company. The key here is that shareholders are giving up a portion of their ownership in the parent company to receive the new shares of stock in the division. Liquidations break up the firm and sell its asset piece by piece. Most liquidations are associated with bankruptcy.
Nice one mwvt9!! Now I actually hope this comes up!
All credit to Banni.
Statutory merger – acquired company continues to exist as separate legal entity. Typically occurs when acquiring company wants to maintain acquiree’s brand identity
How about the formula of funds from operations, and discretionary FCF?
Dapper425 Wrote: ------------------------------------------------------- > Statutory merger – acquired company continues to > exist as separate legal entity. Typically occurs > when acquiring company wants to maintain > acquiree’s brand identity Is that subsidiary?
antilog
Niblita75 Wrote: ------------------------------------------------------- > Dapper425 Wrote: > -------------------------------------------------- > ----- > > Statutory merger – acquired company continues > to > > exist as separate legal entity. Typically > occurs > > when acquiring company wants to maintain > > acquiree’s brand identity > > > Is that subsidiary? Yup, that should be subsidiary NOT statutory.
good list people…keep going…
Private Bourses Public Bourses Bankers’ Bourses
GDP at Factor, Market prices 6 Factors affecting Dividend payout policy advantages and disadvantages - EV/EBITDA - - not seen often
I read in “How to get scr@wed on June 7th in 10 lessons” that GDP deflator was a nice topic Also there is the FMCAR in the last pages of Active PM that would be a nice one too.
omg this list makes me want to cry. i have been so slammed at work that i’ve barely done anything since this weekend when i barely did anything. what to do tonight to make myself feel better… i might wiz through john harris to reinforce the big stuff. FSA stupid stuff to add to the list- and i’m looking this up b/c i always forget what’s what- fair value hedge- unrealized g/l recognize on I/S cash flow hedge- unrealized g/l bypasses the I/S and reported in shareholder’s equity (comprehensive income) net investment hedge of a foreign subsidiary- g/l bypass I/S and are reported in comprehensive income also. in all 3, any portion of the hedge that is NOT effective is recognized in the I/S so i guess i just remember fair value and not effective hit the I/S back to crying now
“i’ve barely done anything since this weekend when i barely did anything.” LOL
Exchange Rate Effect: Ending IncomeStatment Item (in FC) * change in Avg Rate (DC/FC) Op. Effect: Change in IS item (in FC) * Previous year Average Rate (DC/FC) Not to be confused with Translation GAin/Loss Flow Effect: Change in Exposure * (Ending Rate - Average Rate) all in /LC Holding Effect: Beg. Exposure \* (Ending Rate - Beg. Rate) all in /LC All Current/Translation Exposure = Equity Temp/Remeasurement Exposure = (Cash + Rec) - (STD + LTD + AP…)
CFAi Defines: Eco Profit = RI = EVA
hmm aren’t residual income and economic profit/eva different. One takes NI - equity charge the other takes nopat - $wacc?