Your Daily Dose of Financial News

Robins Kaplan LLP

Jobs report Friday!  Here’s what the papers told us to watch – WSJ and NYTimes

AIG’s CEO Peter Hancock is officially out [in rather dramatic fashion] after a brutal Q4 that was viewed as emblematic of his failed turnaround efforts – NYTimes and WSJ and Bloomberg

There’s been a bit of a stir in the paint world, with Dutch firm Akzo Nobel rejecting a takeover bid from PPG Industries valued at $22 billion. In a statement, Akzo claimed that the offer “substantially undervalues” the company – NYTimes and WSJ and Bloomberg

Street Scene pulls back the curtain on the 409A valuation—a tool that tech firms have used to issue common stock or options to employees at a low price while selling preferred stock to outside investors at a price “often three or four times higher.” 409A providers can make a tidy sum on the valuations, even though “valuing these private companies is often a difficult and imprecise exercise” – NYTimes

All the latest from the ECB’s march policy decision, in which the status quo is the name of the game – WSJ

With bitcoin and other virtual currency on the cusp of true mainstream acceptance, their Chamber of Digital Commerce lobbying group is expressing concerns about IRS efforts to collect “detailed information about customers of [Coinbase,] a popular digital currency exchange” – Bloomberg

The Edgar Bronfman-led investment group that’s made overtures to Time, Inc. in the past is now no longer in the running to acquire the publisher – NYTimes

Ahead of what’s being dubbed the “Trial of the century” in South Korea, Samsung exec Lee Jae-yong has formally denied all bribery charges leveled against him – NYTimes and WSJ

Regular readers will know that my own brand of March Madness will, in fact, wrap up this weekend.  Here’s a little flavor of the Minnesota State High School Hockey Tourney from last year – YouTube

Have a great weekend.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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