In Barron’s November 20 cover story, “The Trouble with Unicorns,” Alex Eule discusses some of the finer points of venture-stage valuation that are often overlooked in the press. Travis Harms, Mercer Capital’s Financial Reporting Valuation Group Lead, explains that this article is prompted by the dual observations that (1) a large number of venture-backed companies are achieving unicorn status, and (2) despite a long bull market for public equities, IPO activity remains tepid. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Barron’s Goes Unicorn Hunting. This article is republished from Mercer Capital’s Financial Reporting Blog. It…
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The Wall Street Journal Law Blog says big regulatory changes are under way: “Dodd-Frank is Sarbanes-Oxley on steroids. It’s an exponentially greater volume of regulation,” says Margaret Tahyar, a Davis Polk partner. The “sheer number of rules still in the pipeline makes it almost inevitable agencies will miss an increasing number of deadlines over the next year.” The Dodd-Frank law has 849 pages, compared with 66 pages in the Sarbanes-Oxley Act, a 2002 law that overhauled accounting rules following the Enron scandal. The landmark Glass-Steagall Act, which created the Federal Deposit Insurance Corp. and barriers between commercial and investment banking…