The University of Denver’s Center for Colorado’s Economic Future has been asked to perform the first review of Colorado’s tax and spending structure since the 1950s. In the first phase of their study, they looked at the General Fund expenses and anticipated revenue amounts based on a strong near term recovery followed by historical average growth through FY 2024-25. The findings are eye opening.
07Jan
Mark Kvamme to Help Knock the Rust off Ohio
Filed in Finance | Management | Technology
It was 1996 and the head of CKS Group was impressed enough with a young, brash guy from Los Angeles to give him a bit of Angel Funding. Eric Greenberg took that money, grabbed a few folks to get going, and put together a plan that attracted capital from Bill Davidow, Vinod Khosla, and Venetia Kontagouris, VCs from Mohr Davidow, Kleiner Perkins, and Trident Capital, respectively.
3 and a half years later, Viant (without Greenberg) and Scient (Greenberg’s next startup) had created a new way of providing consulting in the Internet age and were carrying public market caps of over $1B. CKS’s investment of about $40,000 was cashed in during Viant’s follow-on offering for a bit over $1,000,000.
The leader of CKS at that time, Mark Kvamme, is now taking a leave from Sequoia Capital to help lead Ohio’s business development in a public service role. He’ll be receiving $1 in compensation. Can he find more straw to spin into gold?
04Jul
Has Globalization Passed Its Peak?
Filed in Economy | Finance | Management | Politics
The international financial crisis has thrown the forward march of globalization into question. If the United States and others can learn from the crisis and control borrowing, then the positive potential of global trade and finance may be restored.
04Feb
SEC seeks to clarify climate change reporting
Filed in Economy | Energy | Environment | Finance | GHG | GRI | Politics | Responsibility | Sustainability | Transparency
Surprising no one, the SEC released interpretive guidance on the presentation of global climate change risks last week.
Specifically, the SEC’s interpretative guidance highlights the following areas as examples of where climate change may trigger disclosure requirements:
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Impact of Legislation and Regulation: When assessing potential disclosure obligations, a company should consider whether the impact of certain existing laws and regulations regarding climate change is material. In certain circumstances, a company should also evaluate the potential impact of pending legislation and regulation related to this topic.
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Impact of International Accords: A company should consider, and disclose when material, the risks or effects on its business of international accords and treaties relating to climate change.
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Indirect Consequences of Regulation or Business Trends: Legal, technological, political and scientific developments regarding climate change may create new opportunities or risks for companies. For instance, a company may face decreased demand for goods that produce significant greenhouse gas emissions or increased demand for goods that result in lower emissions than competing products. As such, a company should consider, for disclosure purposes, the actual or potential indirect consequences it may face due to climate change related regulatory or business trends.
- Physical Impacts of Climate Change: Companies should also evaluate for disclosure purposes the actual and potential material impacts of environmental matters on their business.
Reporting agencies and other groups, such as the Carbon Disclosure Project and Global Reporting Initiative, applauded the move.
06Sep
VC Deals: Hercules allows investment in pre-IPO start-ups
Filed in Finance | Management | Technology
MercuryNews.com | 08/16/2006 | VC Deals: Hercules allows investment in pre-IPO start-ups“Hercules invests primarily in high-tech companies, usually through “mezzanine” debt financings coupled with an equity component such as stock warrants or options, in private companies previously funded by leading venture capital firms. The loans are typically secured by some or all of the assets of the portfolio company, according to Hercules’ regulatory filings.As a “registered investment company,” Hercules receives certain tax breaks so long as it distributes to shareholders at least 90 percent of its net ordinary income and any net short-term capital gains it realizes that are greater than its long-term capital losses. During the first six months of 2006 it paid out $6 million in dividends.Because Hercules distributes most of its income to stockholders it needs additional capital to finance growth. It raised $34 million in April, selling 3.4 million more shares at $10.55 each less than a year after its IPO.”