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Individual Recovery for Promoter’s Fraud Procedural Problems under S.E.C. Rule 10b-5

Recovery by an individual investor for the fraudulent practices of corporate promoters has been difficult. The typical case arises when the promoter, acting through a controlled board of directors, causes the corporation to issue stock to him in return for inadequate consideration. Stock is then sold to the public without disclosure of the earlier sale to the promoter. The investor who buys into the corporation expecting to share proportionately in the assets finds that he gets farless because the transfer to the promoter has caused dilution of the stock's value.If the fraud is discovered and the individual stockholder attempts to seek redress,he is often deterred by the financial risks involved in maintaining a private suit,especially since his potential recovery will be limited by the number of shares he holds. Prior to the Securities Act of 19332 and the Securities Exchange Act of19343 the defrauded investor was limited to remedies available under state o rcommon law. While state blue...

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Financing Modern Sport In The Face Of A Sporting Ethic

Introduction

Relationships between sport and money are longstanding and necessary: this cannot be concealed in the light of a Coubertanian ideal that is often poorly understood. From the very first ancient Olympic Games, sporting events have required human, material and financial resources to be mobilised. When sporting practice has a competitive purpose, it offers a spectacle, the organizing of which necessitates finance, and the promotion of which can bring in substantial income. Sporting practice itself has become an act of consumption, bringing in its train expenses for sports clothing goods, hiring equipment, entry tickets, and the price of transport - especially for staffed, maintained, secured, and priced sites, and particularly for outdoor and country sports (Andreff, 1992; Andreff and Nys, 1997; Andreff and Weber, 1995).

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Sponsorship as a Form of Fundraising in the Arts: A Bilateral Perspective Involving Relationship Marketing

An understanding of the workings, management and implications of sponsorship relationships, are becoming increasingly important to all arts administrators, in times of dwindling government assistance,and keener competition for audiences. Sponsorship research suffers from a lack of a suitable theoretical underpinning to assist operators in its understanding. This paper examines sponsorship in the context of relationship marketing and network theory. It concludes with case studies of two Australian theatre companies, illustrating application to relationship marketing principles.

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The Influence Of Brand Preference On Brand Image Transfer: A Research On Brand Event Congruity In Sponsorship

ABSTRACT

Despite the growing attention for sponsorship's, few studies have focused on brand image issues. This article reports findings of an experimental research in which participants assessed the degree to which an event’s image associations were transferred to a brand through event sponsorship's. Results indicated that congruent sponsorship's enhance image transfer, as opposed to incongruent sponsorship's. This interaction effect was moderated by brand preferences. Participants with weak brand preferences ranked highest on brand image transfer in the incongruent condition, whereas participants with strong brand preferences were more likely to engage in image transfer when they were exposed to congruent brand event sponsorship. The latter group ranked lowest on brand image transfer in the incongruent condition. The research utilizes a 2 x 2 factorial design where two variations of brand event congruity (congruent vs. incongruent) and two different conditions of brand preferences (low vs. high) are used to test the influence of different sponsorship's on the brand image beliefs of a new product.

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Identifying A Sponsor’s Impact on Total Returns Performance Attribution for the Total Portfolio

Introduction

Performance attribution is a well-recognized quantitative approach to identifying the outcome of investment decisions. Sponsors of pensions, endowments, and foundations view performance attribution as an important tool in their investment manager due diligence process.

However, an investment manager’s decisions are nly part of a plan’s success; the sponsor’s own decisions also weigh heavily, but very few sponsors are able apply performance attribution to their own decisions. Also known as macro or balanced attribution, total portfolio attribution enables sponsors to:

Identify the performance attributable to the strategic asset allocation policy

Examine the outcome of deliberate deviations from policy weights

Measure manager-picking skill in aggregate, or by asset class or investment style

This paper will discuss the methodology for conducting total portfolio attribution and outline seven critical challenges sponsors must consider when evaluating their options.

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Measuring High Performance Sponsorship Programs

Sponsorship has evolved a great deal since the time not that long ago when the phrase “sponsorship can’t be measured” was an accepted “fact.” As all aspects of the industry have become more sophisticated, and the dollar value and prominence of sponsorship have grown, accountability has become a vital skill for today’s sponsorship marketers.

However, much of what passes for sponsorship measurement misses the mark. The general mentality has been to transfer advertising metrics and processes to sponsorship without considering the differences between sponsorship and advertising or the inherent flaws in the way advertising itself is measured.

The fundamental issue for today’s sponsorship professional is the lack of a standard measure. That is a fact. But that marks the beginning, rather than the end, to the measurement discussion. Just as your business and brands are unique, so are your sponsorship's. The bottom line is: to measure the effectiveness of your investments in fees as well as activation sponsors must develop a customized approach.

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A Resource-Based View Of Sponsorship Management And Implemetation – Resource Identification And Categorisation.

Introduction

An important debate in the sponsorship literature is whether sponsorship can become a source of competitive advantage. Such discussion has surfaced because of the increasingly large sums invested in the medium, and because it is increasingly being used in a strategic context, in some instances as the foundation of brand and corporate positioning strategies (Cornwell 1995). Proponents who believe it can often cite examples of successful collaborative sponsorship's, such as Nike’s association with Michael Jordan, where it is apparent that the company leveraged Jordan both extensively and effectively in its marketing efforts and, as a consequence, realized significant growth in its market-share (Hirons 1997). However, it is equally possible to find companies that, despite effective sponsorship investments, saw their profitability and market share erode, as was the case for Credit Lyonnais. The reasoning behind such success and failure has been discussed in recent work by Amis, Pant and Slack (1997) and Amis, Slack and Berret

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Distinguishing Commercial from Noncommercial Speech

There are undoubted difficulties with an effort to draw a bright line between “commercial speech” on the one hand and “protected speech” on the other, and the Court does better to face up to these difficulties than to attempt to hide them under labels. In this case, however, the Court has unfortunately substituted for the wavering line previously thought to exist between commercial speech and protected speech a no more satisfactory line of its own that between “truthful” commercial speech, on the one hand, and that which is “false and misleading” on the other. The difficulty with this line is not that it wavers, but on the contrary that it is simply too Procrustean to take into account the congeries of factors which I believe could, quite consistently with the First and Fourteenth Amendments, properly influence a legislative decision with respect to commercial advertising.

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Electronic Recording Memorandum Of Understanding

RECITALS

WHEREAS, SECURE is owned by the counties of Los Angeles, Orange, Riverside, and San Diego; and

WHEREAS, SECURE is an electronic recording delivery system that is compliant witthe Electronic Recording Delivery Act of 2004 for the electronic submission and subsequent recording of documents with county recorders; and

WHEREAS, SECURE allows recording of real property documents through electronic receipt and transmission in substitution for conventional paper based document recording; and WHEREAS, the Parties desire to ensure that transactions using electronically recorded documents are legally valid and enforceable for the mutual benefit of the parties to those transactions; and

WHEREAS, multiple California counties, in addition to the owner counties, utilize SECURE for the electronic recording of documents and through the SECURE portal server, which is located in Orange County; and

WHEREAS, Orange County is the “Lead County” acting through the Orange County Clerk-Recorder on behalf of the owners of SECURE to develop and support the system and to...

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Sample Memorandum of Understanding

Sample Memorandum of Understanding

WHEREAS, [Applicant X], [Partner 1] and [Partner 2] have come together to collaborate and to make an application for [name of OVW Grant Program] grant; and WHEREAS, the partners listed below have agreed to enter into a collaborative agreement in which [Applicant X] will be the lead agency and named applicant and the other agencies will be partners in this application; and WHEREAS, the partners herein desire to enter into a Memorandum of Understanding setting forth the services to be provided by the collaborative; and WHEREAS, the application prepared and approved by the collaborative through its partners is to be submitted to the Office on Violence Against Women on or before [application due date]; I) Description of Partner Agencies For each member of the collaborative, provide some background on the agency or organization and its work regarding domestic violence, dating violence, sexual assault, and/or stalking. II) History of Relationship y Provide a brief history of..

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The Psychology of Mergers

Introduction

The numbers vary but most commentators agree that between 50 and 70% of mergers fail to achieve their objectives. Worse than that a KPMG survey of 700 mergers in 2004 showed that not only had the new entities failed to achieve the revenue and cost synergies by originally predicted but in many cases the merger had actually diluted shareholder value.

Recent research has indicated that in more than half of merger failures the root cause is a failure to attend to the people factors. Side-tracked by the strategic and structural considerations of systems and processes, the human dimension is at best poorly managed and at worst gets missed completely.

The purpose of this briefing paper is to address the human side of the merger process and create an understanding of the employees’ psychological and behavioural responses at each stage of the journey. This knowledge will enable organisations to...:

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M&A Engagement Letters

Confidentiality

►Sell-Side Client may request that Investment Bank coordinate execution of NDA with potential Buy-Side Counterparty(ies)

– In doing so, Investment Bank will be careful not to render legal advice or negotiate provisions of the NDA on behalf of Client, especially where client is not present. Client and its external counsel should approve the form of NDA to be used and should approve all material negotiated modifications.

►Standalone NDA vs. Confidentiality Provision in Engagement Letter

– Efficiency – one document vs. two– Whose standard form/standard terms and conditions serve as base document

– Scope

– Interplay with Indemnification

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Ownership and Control in Joint Ventures

Abstract

Joint ventures afford unique opportunities to study how firms assert rights over jointly used assets because parents clearly delineate control. We argue that ownership allocations trade off investment incentives with control related inefficiencies. We show how residual control rights can create a discontinuity in parent incentives that explains the observed clustering of ownership at 50-50 and 50-plus-one-share equity allocations. At the same time, the incentive benefits of ownership preserve a rationale for a wide spectrum of asymmetric shareholdings. Analyzing the determinants of ownership in US joint ventures, we find that, consistent with our model, the higher the potential for unilateral value extraction the more parents to prefer equal shareholdings regardless of their attributes. Similarly, parent-specific spillovers make 50-50 ownership more attractive to the detriment of one sided control whereas complementarities in parent resources have the opposite effect.preferred

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Foresight of Murder and Complicity in Unlawful Joint Enterprises Where Death Results

In this article, the central or principal issue for consideration is the appropriate standard that should be adopted at common law for foresight of consequences at common law where death has arisen out of an unlawful joint enterprise and the complicity or otherwise of a secondary party is in issue. Although the discussion is focussed upon the common law, the same issues of principle and policy arise in relation to potential reforms of the ’common purpose’ rule under the Criminal Codes. The matter has been considered and determined in two Australian High Court cases, Johns vR1 and Miller v R,2 and further by the Judicial Committee of the Privy Counci.1 in Chan Wing-Siu v R.3 In those cases, it was held that, at common law, a secondary party is guilty of murder where death or grievous bodily harm is foreseen

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