Gregory V. Milano
10 Key Principles for Effective Capital Deployment: Part 2
Acquire carefully, beware of leverage, have rules-based buyback processes, don’t bank on dividends, and realize that value creation is hard work.
10 Key Principles for Effective Capital Deployment: Part 1
Here are the principles that provide a foundation for establishing an enduring capital deployment process to drive long-term value creation.
Companies That Do Well Also Do Good
Is there a link between how well companies deliver on their social mission and whether they create long-term value for shareholders?
A Way to Achieve Continuous Improvement at Regulated Utilities
Although it may be necessary, regulation demotivates cost efficiency and capital productivity. But there are other ways to measure a utility's performance.
A Young Biotech Firm’s Dilemma
Should publicly held, early stage biotechs issue more shares or partner with Big Pharma?
Brand Value Drives Corporate Value
With the right brand-value metrics and framework, managements can allocate marketing resources to improve both short- and long-term value creation.
A Theory of Relativity Misses the Mark
Long-term incentives often include an element based on "relative total shareholder return" that seems sound in principle, but doesn’t work in practice.
Be Cautious About ‘Sweating Your Assets’
Even though it can make certain metrics look better, merely letting assets depreciate isn't enough to sustain growth.
When Projects Have a Zero or Negative NPV
Conducting financial analysis on zero and negative NPV investments is as important as doing it on positive NPV investments.
How to Tell Good Buybacks from Bad Ones
Buyback ROI, a tool first introduced on CFO.com, can be used by executives and investors to determine when buybacks are more likely to be successful.
Why Great Health Care Companies Aren’t Necessarily Great Stocks
Performance metrics related to improvement or growth demonstrate the most positive relationships to shareholder return.