As with all disasters, the potential impact on your disclosures must be evaluated (Howard Dicker in NYC shares this eye-popping video of flooding). Here is some commentary from Yelena Barychev Blank Rome’s blog on this:
A few SEC filings made this week reflect the effect of Hurricane Sandy ranging from postponing or cancelling quarterly earnings calls to extending the deadline of a tender offer. In addition, in response to Hurricane Sandy, some companies qualify their guidance in earnings press releases by excluding losses due to the impact of the hurricane if a significant portion of the company’s revenues is derived from the areas affected by Hurricane Sandy.
Some forward-looking statements in earnings press releases reference the impact of Hurricane Sandy as one of the risks and uncertainties which could cause actual results to differ materially from those projected.
While we are in the midst of the 10-Q season, companies affected by Hurricane Sandy should also evaluate whether they need to include in Form 10-Q a risk factor related to the potential impact of the hurricane on their results of operations and financial position.
ISS Extends Policy Comment Deadline to November 9th
ISS has extended its deadline to submit comments on its draft ’13 policies to November 9th.
Our November Eminders is Posted!
Conflict Minerals Poll: Are You Using a Process Design Consultant?
Lawrence Heim of Elm Consulting sent over this interesting set of anecdotes entitled “” that Emerging Dangers of Benchmarking Your Conflict Minerals Program” that bears reading.
Meanwhile, we had an interesting query in our “Q&A Forum” yesterday (#7397) about whether companies were hiring consultants to help them sort out the design & processes necessary to capture the conflict minerals data. I posted an answer but thought I would poll our readership since this wasn’t in our “Quick Survey of Conflict Minerals” that will wind up soon…
– Broc Romanek