All Posts By

Justin Jones

Capital AllocationCash & Working CapitalCOVID-19
February 18, 2021

Cash Cushions and Covid: Retailers Not Yet Ready To Declare Victory

Retail treasurers returning to offense with share repurchases and dividends are proceeding with caution.A growing number of retailers in the NeuGroup Network are spending or preparing to spend some of the excess cash they raised at the beginning of the pandemic on share repurchases and dividends. But most treasurers at these retailers remain cautious and conservative as they return to playing offense—not surprising given that these companies were among the worst impacted by lockdowns and social distancing. Declare victory? “One…
Justin Jones
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BankingESGTalking Shop
February 18, 2021

Talking Shop: Handling Grant and Expense Payments for a Foundation

Member question: “How is your company handling grant and expense payments for its foundation? Is this handled leveraging existing company processes, tools and teams or outsourced to service providers, such as Foundation Source, etc.? “We’ve outgrown the manual check process and need to scale up here and are curious to learn how you manage this.” Peer answer 1: “Our foundation accounts are with our concentration bank and managed by specific individuals in our corporate team. “We have raised the question…
Justin Jones
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NeuGroup News
February 16, 2021

CNote Makes Impact Investment Simple

Fintech Firm collaborates with Mastercard and NeuGroup to promote a more inclusive economy. Making a positive social impact has taken on high importance for businesses in the last year, but the world of impact investment is still cloudy for many. It can be difficult to decipher which investment options will actually have a tangible effect on the community, not to mention which make economic sense. CNote, a women-led impact investment platform, is here to help. CNote uses technology to connect…
Justin Jones
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D&IESGTechnology
February 16, 2021

Impact Investing: A Fintech Connecting Corporates with Communities

CNote helps companies including Mastercard connect with community development financial institutions.Community development financial institutions (CDFIs) have emerged as an effective and attractive tool for corporates initiating or accelerating their commitments to impact investing amid the broader push for diversity and inclusion (D&I). Members of NeuGroup’s Treasurers’ Group of Mega-Caps (tMega) recently heard how a women-led fintech called CNote is simplifying the process of connecting with CDFIs that, in turn, lend capital to borrowers in underserved communities.“CNote is moving money where…
Justin Jones
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Capital MarketsTax
February 16, 2021

Biden Tax Priorities May Fuel Shifts in Corporate Capital Structure

The effects of raising the corporate income tax rate and setting a global minimum tax on book income. Treasury and tax teams trying to plan for potential changes to US corporate tax policy will be looking for more clarity when President Biden addresses a joint session of Congress in one week, on Feb. 23. For a look at what corporates should have on the radar screen, NeuGroup Insights reached out to Justin Weiss, a partner in KPMG’s Washington national tax financial…
Justin Jones
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Talking ShopTaxTechnology
February 16, 2021

Talking Shop: Looking for Solutions To Optimize Global Tax Payments

Member question: “We are working to centralize and optimize global statutory and tax payments. What kind of solutions do you have in place?“Entities will have unique tax restrictions, so we will need various solutions depending on the region and country. We’re hoping to understand what kind of solutions you may have uncovered or already have in place. “Does your company have a centralized process for managing global tax payments?“What types of applications or payment types are used for processing tax…
Justin Jones
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Capital MarketsESG
February 11, 2021

Supporting—Not Leading—the Green Charge: Defining Treasury’s Role

A discussion of green bonds includes the view that treasury “can’t push the cart up the hill” on sustainability.The steady drumbeat of enthusiasm about ESG from bankers, investors, rating agencies and the media has failed to convince some treasury teams to push their companies to jump on the green finance bandwagon. For one reason, these treasury practitioners say that issuing green bonds or using other forms of sustainability-linked finance does not currently make economic sense for them. More importantly, these…
Justin Jones
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Capital AllocationCapital MarketsCOVID-19
February 11, 2021

Sending a Strong Signal: Accelerated Share Repurchase Programs

As more companies resume stock buybacks, some treasurers are feeling pressure to use ASRs.Corporates eager to send a clear signal to investors about their financial health are brushing the dust off stock buyback plans and weighing—if not committing to—accelerated share repurchase (ASR) programs. That was among the takeaways from a NeuGroup meeting of treasurers this week. It’s the latest development in a journey that began in the spring when the pandemic slammed the brakes on many share repurchase programs. In…
Justin Jones
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Capital AllocationCapital MarketsTalking Shop
February 11, 2021

Talking Shop: Do You Use Barra Beta or Bloomberg To Calculate WACC?

Member question: “Is anyone using Barra to calculate WACC (weighted average cost of capital) or do you use another service provider? “To calculate cost of equity, we use our beta available from Bloomberg. Over the last year, our beta has decreased. The lower beta results in a lower calculated cost of equity and then WACC.“We think this could be a short-term impact and need to be very thoughtful about how to apply it in various analysis. In recent conversations, we…
Justin Jones
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Capital AllocationCapital Markets
February 9, 2021

Spin-off Class: Perspective From a NeuGroup Member Pedaling Hard

Spin-offs mean complex, time-consuming work on capital structure, bank accounts, credit facilities and more. Spin-offs are huge strategic undertakings for corporations looking to part ways with a subsidiary or business. And finance teams, including treasury, do a lot of the heavy lifting to manage a complex process that can take years to complete. At a recent NeuGroup meeting, one member in the midst of a spin-off described the process as an “all-consuming activity.”Afterward, he agreed to share some insights and perspective…
Justin Jones
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