DBA Digest for October 27, 2023

There's still time to register for the next Women Connect event, Thursday, November 2, 9:00 a.m. to 4:30 p.m., at the University & Whist Club in Wilmington. Topics include: “The Return to Work” Post-Pandemic Challenges and Silver Linings; The 6 Pillars of Self Care, Building Self Care into Your Life; and Emotional Intelligence. Join us for a day filled with networking opportunities and professional development! Only $149 for the full-day pass ($99 for a half-day pass). Register today for this exciting day of Engagement, Empowerment, and Networking!

Featuring:

 Artika Casin• Theresa Hughes • Tarrie Miller• Regina Donato • Sarah Mayland

Linda Comerford • Denise Mckelvey

New! Wizzo the Money Dog Video:

"So You Want to Save for College!"

Wizzo the Money Dog, the DBA's resident cash canine, is back with another financial literacy lesson, this one on how to save for college. To watch Wizzo's latest adventure, please visit the DBA's YouTube channel via the link below. And while you're there, please subscribe to the channel and help support financial literacy in Delaware!

Polish Your Communication Skills!

Business Writing Workshop

November 1, 2023, 9:00 am - 4:00 pm

Time equals money in the work world, so creating clear documents quickly that can be understood easily is crucial. Join Linda Comerford, Comerford Consulting for this rewarding on-line course via Zoom, Just $199 per person for DBA members! ($249 for non-members)

Workshop Objectives: After attending this course, participants will benefit from an increased ability to:

• Identify varied audiences and purposes for writing;
• Polish rough edges of their writing style in paragraphs, sentences, words, and format;
• Write more effective documents while following a more efficient writing process; and,
• Apply course concepts to their actual writing samples.

Taking the Grr out of Grammar

November 8, 2023, 9:00 am - 12:30 pm

Surveys show that 80% of those in the business world tend to say, “Grr!” a lot when editing a document. Join Linda Comerford, Comerford Consulting for this valuable on-line course. Just $99 per person for DBA members! ($149 for non-members)

Workshop Objectives:  This half-day course helps participants do the following when writing and editing:  

• Analyze why correct documents are so important;
• Identify the errors that tarnish a writer’s image;
• Learn practical, current grammar and punctuation rules;
• Practice correcting grammar glitches and punctuation pitfalls; and,
• Demonstrate understanding of the rules through a pre- and post-quiz.

Bank of America Private Bank Market Minute

Geopolitical concerns, Fedspeak, and a rise in long-term bond yields weighed on major U.S. Equity indexes last week. The S&P 500 fell 2.4% for its fifth negative week out of the past seven. The Nasdaq Composite dropped 3.2%, and the Dow Jones Industrial Average declined 1.6% on the week. The 10-year U.S. Treasury yield settled around 4.91% by last Friday, down from 4.99% on Thursday. At close to 5.0%, 10-year Treasury yields are at their highest point since 2007. The yields on both the 2-year and 30-year ended last week around 5.07%. In another display of consumer resilience, September retail sales rose 0.7% over the month versus an expected 0.3%, which follows a revised 0.8% in August. Despite the average rate on a 30-year fixed mortgage topping 8% (according to Bankrate), housing starts rose 7.0% to a seasonally adjusted annual rate of 1.358 million, a bump up following August’s sharp decline of 12.5%.

Opportunity LIVES Here Symposium - Nov. 1

Inspired by the philosophy that “prosperity is something everyone can realize,” State Senator Darius Brown launched this initiative in partnership with the Riverfront Development Corporation of Delaware and the Delaware River and Bay Authority. Opportunity LIVES Here promises to transform the Three Rivers area – defined by the confluence of the Brandywine, Christina, and Delaware Rivers – into an economically, culturally, and thriving community. The agenda includes; Building an Economic Ecosystem, Investing in Our Neighborhoods, Access to Capital, and When Opportunity Presents Itself.

Opportunity LIVES Here Symposium, Wednesday, November 1, 9 a.m. – 12 p.m.

Chase Center on the Riverfront, Wilmington.

Path to Prosperity - November 1st - Bridgeville, DE

You are invited to the Atlantic “Path to Prosperity” regional economic development series in Bridgeville, DE.  The Federal Deposit Insurance Corporation (FDIC), Small Business Administration (SBA), and the United States Department of Agriculture (USDA) have partnered to provide individuals, small businesses, including agriculture enterprises (farmers and ranchers), and urban/rural communities, useful information, tools, resources, and an opportunity to engage in dynamic discussions intended to create economic progress. The no-cost series features experts in the lending industry, Federal Government, and community partners and stakeholders.

The event is scheduled for November 1, 2023, from 10:00 am until 5:00 pm, at the Bridgeville Public Library, located at 600 South Cannon Street, Bridgeville, DE 19933.  All participants must register to attend either “In Person” or “Virtually”. To register for the event, please click the link below.

Ask the Fed®: 2023 Accounting Roundtable

Monday, November 13, 2023 | 2pm-3:30pm ET | 2023 Accounting Roundtable

The Federal Reserve System’s Accounting Communications Network (ACN) will host its annual Virtual Accounting Roundtable, with special remarks provided by Governor Michelle Bowman. This event is intended to provide participants with an opportunity to engage policy makers while enhancing communication between regulators and accounting and auditing professionals. 

Please join the Federal Reserve Board’s Chief Accountant Lara Lylozian and the Board’s Accounting Policy team, along with ACN subject matter experts, to discuss current and emerging accounting issues impacting financial institutions. Among other topics, the program will include 2023 CECL implementation observations, recent and proposed accounting standards, and an opportunity to have your burning questions addressed. 

Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide.

Richards, Layton & Finger Attorneys Named Among Lawdragon 500 Leading Lawyers

Eighteen Richards, Layton & Finger attorneys have been named in four Lawdragon 500 guides. Lawdragon, a legal media company providing online news and features, annually selects 500 Leading Lawyers in guides identifying the nation’s foremost lawyers in specific practice areas.

The practice area guides and the Richards Layton lawyers recognized in them are:

• Lawdragon 500 Leading Bankruptcy Lawyers: Mark D. Collins; Daniel J. DeFranceschi; Kevin Gross
• Lawdragon 500 Leading Dealmakers: C. Stephen Bigler; Catherine G. Dearlove; Mark J. Gentile; John Mark Zeberkiewicz
• Lawdragon 500 Leading Environmental Lawyers: Robert W. Whetzel
• Lawdragon 500 Leading Litigators: Frederick L. Cottrell; Catherine G. Dearlove; Raymond J. DiCamillo; Steven J. Fineman; Anne C. Foster; John H. Knight; Michael J. Merchant; Jeffrey L. Moyer; Srinivas M. Raju; Lisa A. Schmidt; Gregory P. Williams

Michael Gordon Presents at Schwab IMPACT Conference in Philadelphia

On Thursday, October 26, 2023 Michael Gordon, of Gordon, Fournaris & Mammarella, P.A., presented at the Schwab IMPACT Conference in Philadelphia. Michael’s presentation titled “Putting Asset Protection Trusts to Work in Your Estate Planning” discussed the potential tax benefits of self-settled asset protection trusts. The IMPACT conference is a yearly event where thousands of Registered Investment Advisor (RIA) experts gather to share ideas, knowledge, and inspiration for improving the lives of clients and businesses.

Morris Nichols Announces New Partners and Special Counsel Promotions

Morris Nichols is pleased to announce that Alexandra Cumings and Kyle Pinder have been invited to join the firm partnership, effective January 1, 2024, and Elizabeth Mullin will be promoted to special counsel.

“On behalf of the partnership, I am pleased to announce the promotion of Ali, Kyle, and Liz. I have had the privilege of working with all three individuals since early in their tenure at the firm, and I look forward to seeing them embark on this next phase of their careers,” said Bill Lafferty, chair of the firm’s executive committee. “Their exceptional talents and dedication will carry them, and the firm, onto a promising future.”



Ali and Liz focus on corporate litigation, and Kyle focuses on corporate advisory and transactional work.

Corporate Governance Standards Proposed by FDIC

On October 3, 2023, the Federal Deposit Insurance Corporation proposed standards for corporate governance and risk management for the institutions it regulates that have $10 billion or more in total assets (“Proposed Standards”). The Proposed Standards would establish extensive and rigid requirements for a wide range of state-chartered banks. Further, they would reverse decades of reliance on state law for establishing governance and oversight obligations. The FDIC board approved issuing the Proposed Standards by a 3-2 vote with Vice Chairman Travis Hill and Director Jonathan McKernan issuing dissents sharply critical of the proposals.

The Proposed Standards lean toward a rules-based approach to corporate governance, in contrast to the principles-based approach that is prevalent under state law. Critics will observe that the Proposed Standards are presented as “good corporate governance” without appreciating that what is “good” for one bank may not be “good” for another and that achieving “good corporate governance” results not from uniform regulatory mandates but from default rules that can be tailored and fiduciary duties that can be fit.

Delaware National Alliance on Mental Illness Recognizes Ed McNally for Extraordinary Service

Morris James proudly announces that the Delaware Chapter of the National Alliance on Mental Illness recognized Ed McNally for longstanding, devoted service at its recent Inspiring Hope conference. Each year, NAMI Delaware awards a volunteer whose contributions are extraordinary. This year, Ed was acknowledged for his decades of Board service. 



Ed is the past president of NAMI Delaware, and has served as the board Secretary for the last decade. Throughout his years of service, Ed has provided counsel on legal issues, human resource matters, and potential risk exposure. He is a valued leadership team member, providing guidance and reassurance to the CEO/Executive Director and Board of Directors in many challenging situations.

Webinar: Influence and Influencers - Navigating the Power and Legal Pitfalls of Social Media - November 2 - 1:00 p.m.

Companies are leveraging influencers more and more for their brands. Our program will highlight the key issues companies need to be aware of when engaging influencers and advertising on social media. Topics that will be discussed include: The power of influencer marketing; Current regulatory landscape and developments; False advertising; Use of influencers in capital raising and the securities industry; and, Negotiating influencer agreements to mitigate risk. Thursday, November 2, 2023 | 1:00 - 2:00 PM ET

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