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Morrison Foerster’s Economy & Markets Research Report

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Morrison Foerster’s Economy & Markets Research Report contains salient insights into what in-house legal leaders are forecasting for the year ahead, as well as what issues and challenges will be front and center for them and their legal departments in 2023.

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We are Morrison Foerster — a global firm of exceptional credentials. Our clients include some of the largest financial institutions, investment banks, and Fortune 100, technology, and life sciences companies. Our lawyers are committed to achieving innovative and business-minded results for our clients, while preserving the differences that make us stronger.Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Prior results do not guarantee a similar outcome.

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In an unpredictable and turbulent market, Morrison Foerster surveyed more than 170 global corporations in fall 2022 to understand what issues and challenges will be top of mind for in-house business professionals and their global organizations in 2023.Morrison Foerster’s <a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/bltc50ccc788f489da8/63988e00904ada1ff6ecab16/221213-economy-markets-research-report.pdf" target="_self">Economy & Markets Research Report</a> contains salient insights into what in-house legal leaders are forecasting for the year ahead, as well as what issues and challenges will be front and center for them and their legal departments in 2023, including:<ul><li>Current economic outlook, predictions, and related hot issues;</li><li>Most challenging areas of concern and potential risks; and</li><li>Greatest areas for opportunity and investment, particularly employment & talent retention, ESG, and privacy & data security, among others.</li></ul>It is our hope that the insights shared in our report will serve as an invaluable guide for you as you plan your business strategies to manage and adapt to these challenges and hit the ground running in 2023.<a href="https://media2.mofo.com/v3/assets/blt5775cc69c999c255/bltc50ccc788f489da8/63988e00904ada1ff6ecab16/221213-economy-markets-research-report.pdf" target="_self">Read our full Economy & Markets Research Report</a>. ﻿Sign up to receive additional information and the latest Economy & Markets Research developments, as well as information about our upcoming roundtable sessions. <div><iframe src="https://www2.mofo.com/l/323401/2022-12-12/8lbds" width="100%" height="355" title="Register for mailing list" type="text/html" frameBorder="0" allowTransparency="true" style="border:0"></iframe><style>#embed-wrapper-820311246{padding: 0 0 410px;}</style><style media="(min-width:48.0625em)">#embed-wrapper-820311246{padding: 0 0 330px;}</style></div>

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Mitchell Presser advises on high-profile global public and private mergers and acquisitions, with a heavy concentration on private equity transactions. As co-chair of the firm’s Band 1 global Food + Agriculture Industry practice, and member of the firm’s global Sustainability + Corporate Responsibility steering committee, as well as the Private Equity Investments + Buyouts and M&A groups, Mitchell utilizes his vast experience in high-stakes M&A and private equity deals to drive successful outcomes for clients in diverse sectors, including food production, agribusiness, financial services, industrials, insurance, sports and entertainment, energy, retail, and more.As a founding partner of Paine Schwartz Partners, a premier U.S. private equity firm dedicated to sustainable food chain investing with $6.5 billion assets under management, Mitchell has his unique insights shaped by over eight years as an investor. Mitchell proficiently understands both the legal and business environments, positioning him as a trusted advisor for clients navigating the intricate world of mergers, acquisitions, and private equity transactions.Mitchell has been recognized as a top lawyer by Chambers USA and Legal 500 US. Mitchell is a faculty member and lecturer of law at Harvard Law School and Columbia Law School, where he teaches a class focused on international business sales and negotiations. He has served as board member for various privately-held and public companies.

Mitchell Presser

Partner

Susan (“Suz”) co-chairs the Sustainability + Corporate Responsibility and Social Enterprise + Impact Investing practices. Her practice focuses on late-stage financings, secondaries, and other corporate transactions for investors, such as SoftBank and Temasek, and on investments for some of the top investors dedicated to impact, from “impact first” foundations to family offices to private equity funds. She co-led the drafting group for the first of the new corporate forms (the Social Purpose Corporation in California), has created hybrid/tandem corporate structures and crafted debt and equity instruments that blend impact with traditional financial terms, and has used corporate law to develop creative capital market solutions to pressing environmental problems. She also advises the boards of public and private companies on corporate governance and fiduciary duties as applied to sustainability and climate change.She was named a California Lawyer Attorney of the Year (CLAY) in 2012 and 2016 by Daily Journal and the Most Innovative Lawyer in North America in 2015 by the Financial Times.Leading Business AdvisorA powerhouse negotiator, clients note that “you cannot get a better corporate counsel” and that Suz “understands the big picture, could not be more responsive, and understands the business” (The Legal 500 US). She has extensive experience providing corporate and finance advice to companies and investors in connection with growth equity financings and secondaries, with particular experience in late-stage investments that have come to rival traditional strategic acquisitions in size and significance. Her experience includes leading some of the highest-profile late-stage investments over the past few years, including notable transactions for SoftBank Group (in the two largest private tender offers in history) in its $7.7 billion investment in Uber, $4.4 billion investment in WeWork, further $10 billion investment in WeWork, $1 billion investment in SoFi, and $250 million investment in Kabbage. She has also advised Temasek on its $800 million investment in Verily Life Sciences, Intel on its equity investment in Cloudera, and each of Fortress, TPG Rise, Vision Ridge Partners, Generation Investment Management, and Pontifax AgTech in numerous mid- to late-stage investments in clean technology, sustainability, education, food, and agriculture technology.Social Enterprise and Impact InvestingSuz is the go-to legal resource for social enterprises (for-profit and non-profit companies focused on social or environmental purpose), impact investors (investors interested in social or environmental returns), and mainstream companies developing environmental, social, and corporate governance policies. With deep expertise in the impact investing model, institutional investors exploring the space turn to her for creative solutions and her ability to structure both investments and companies to emphasize impact and returns.She represents a wide range of investors who are focused on impact, from foundations like the Gates Foundation, The Nature Conservancy, and The Rockefeller Foundation, to family offices like Armonia, Cornerstone Capital, Emerson Collective, New Island Capital, and Omidyar Network, to private equity funds like Goldman Sachs, TPG Rise, Vision Ridge Partners, and Generation Investment Management, in their equity investments in companies and projects that are focused on generating impact and returns for investors. She has deep experience and expertise ensuring energy, sustainability, and other investments have positive impact through the use of new corporate forms, hybrid or “tandem” structures with non-profits and for-profits, and alternative debt and equity instruments.Notable work in this space includes the establishment of a tandem structure, The Carbon Endowment, to retire coal assets at scale while securing a revenue stream for community reinvestment and job training in coal communities. Suz also advised on the structuring of Common Sense Growth as an extension of the non-profit Common Sense Media (to invest in companies that address issues related to children, education, and technology), the establishment of a fund for TPG Rise to provide debt financing to Echoing Green fellows, the spin-out of PRX from Public Radio International (to generate new revenue flows up to the non-profit), the establishment of a for-profit joint venture with non-profit Medicines360 (to allow the non-profit to distribute its healthcare products to women in the developing world), and the structuring of a for-profit evergreen fund that allows The Nature Conservancy to aggregate return-seeking and donor capital in order to invest in preserving our natural resources. She has also advised numerous clients on converting to a public benefit corporation or social purpose corporation model (which requires balancing traditional fiduciary duties against a social or environmental purpose), including This American Life, Revolution Foods, Rise Labs, and Beneficial State Bancorp.Suz also regularly advises boards of directors of private and public companies, special committees, and CEOs on corporate governance, particularly the intersection of fiduciary duties with sustainability, and focuses on environmental, social, and governance issues.Unmatched Cleantech and Renewable Energy ExperienceIn addition to founding and chairing the firm’s Social Enterprise and Impact Investing Group, Suz serves as Chair of Morrison & Foerster’s Energy Group and has extensive experience representing start-up to late stage private companies in the clean technology or sustainability space. She provides corporate and finance advice in connection with equity and debt financings, mergers, acquisitions, asset purchases and sales, reorganizations, and joint ventures. She has experience working with renewable energy start-up companies and renewable energy developers in the solar, wind, and biofuels industries. Suz has assisted renewable energy start up companies with raising venture capital and has advised renewable energy developers on project acquisitions.Suz’s representative renewable energy, cleantech, sustainable, and social enterprise clients include Anaergia, Change.org, EDF Renewables, E.ON, Etsy, First Look, OneSun, Planet Labs, Rising Sun Energy, RSF Social Finance, SustainBio, Trelys, Inc., Wikipedia, and Xpansiv.Board Activity and Thought LeadershipMs. Mac Cormac was a founding board member of the Sustainability Accounting Standards Board (SASB), is a member of the board of directors of Business for Social Responsibility (BSR), the Ceres President’s Council, and the Earth Genome Project, and is an advising board member of the Committee Encouraging Corporate Philanthropy’s Strategic Investor Initiative.She has joined the faculty (teaching on the intersection of sustainability and fiduciary duties) at both the Stanford Director’s College and the Northwestern Corporate Counsel Institute and is an adjunct professor at UC Berkeley School of Law, teaching a course on Social Enterprise.

Susan Mac Cormac

Eric Akira Tate chairs the firm’s Global Employment and Labor Group. He represents technology and other companies in bet-the-company trade secrets and employee mobility cases. Eric also represents boards of directors and companies in #MeToo and other sensitive internal investigations and disputes with executives, whistleblower, wrongful termination, discrimination and harassment, and other employment litigation.Eric also advises companies in employment law compliance and transactional matters, including restrictive covenants and other personnel policies and procedures, and employment aspects of mergers and acquisitions throughout the United States and globally.Eric’s recent board of directors and executive dispute matters include: defending a publicly traded UK company in the defense of a wrongful termination suit by the former CEO of its U.S. subsidiary; representing a TSX-traded Canadian company in wrongful termination and other claims alleged by two terminated C-suite executives; represented a publicly traded Japanese investment firm in separation of a C-suite executive; represented a publicly traded Japanese healthcare company in the separation of the CEO and 20+ other U.S. executives, including defense of several wrongful termination and discrimination claims; and represented a publicly traded Fortune 200 technology company in investigation of discrimination and harassment claims against a C-suite executive, who subsequently resigned without incident. Regarding trade secrets and employee mobility issues, Eric represented Uber in its diligence investigation as part of its acquisition of Ottomotto, the autonomous vehicle startup founded by former Google engineers. He then helped lead Uber’s defense of the subsequent patent infringement and trade secrets misappropriation suit, which settled several days into trial in February 2018. In addition to technology companies, Eric has handled similar matters for companies across many industries, including, but not limited to, Williams Sonoma v. Restoration Hardware, International Lease Finance Co. v. Air Lease Corporation, Melaleuca, Inc. v. Shaklee Corporation, and New Century Mortgage v. Encore Credit.Most recently, Eric was recognized by Chambers USA for Labor & Employment, again by Best Lawyers as a leading lawyer in employment law, again by the Daily Journal as one of California’s Top Labor and Employment Lawyers and Top Trade Secrets Lawyers, again by Benchmark Litigation as a Labor and Employment Star, and again named to Law360’s 2023 EA Discrimination Editorial Advisory Board. Eric was elected as a Fellow of the College of Labor and Employment Lawyers in 2021.Eric is committed to advancing diversity, equity, and inclusion at the firm and development of the legal profession generally. Eric has served on the firm’s Diversity Strategy Committee since its inception and is a past co-chair. Eric is a former hiring partner for the Palo Alto office and past member of the firmwide Pro Bono and Litigation Evaluations Committees. Eric serves on the Points Committee for the firm. Eric serves as a partner sponsor for multiple affinity groups at the firm and as a formal and informal mentor to associates around the firm. Eric is a leader in the American Bar Association’s (ABA’s) Labor and Employment (LEL) Section and LEL’s Employment Rights and Responsibilities (ERR) Committee. Eric is serving his second term on the governing Council (Board of Directors) for the LEL Section. Eric serves as co-chair of ERR’s Covenants Not to Compete and Trade Secrets Subcommittee. Eric is a past co-chair of the ABA LEL Annual Meeting Committee, the LEL Section Annual CLE Conference, and ERR’s Alternative Dispute Resolution, Employment At-Will and Collateral Torts, and Worker Dislocation Subcommittees. He also has served on the Planning Committee for the National Employment Law Council’s Annual Conference.For nearly 15 years, Eric has served as a mediator for the Northern District of California’s Alternative Dispute Resolution Program, handling employment discrimination and harassment, wrongful termination, trade secrets and employee mobility, and other employment-related and disability matters.Additionally, Eric is a thought leader in various employment law areas and recognized authority in trade secrets and employee mobility. He serves on the Board of Review for leading BNA treatises Trade Secrets: A State-by-State Survey; Covenants Not to Compete; Employee Duty of Loyalty; and Tortious Interference in the Employment Context. He is author of “Protecting Investment in IP and People” in Today’s General Counsel; “SCOTUS Poised to Resolve Circuit Split on SOX Federal Whistleblower Standard and Other Statutes” in the Daily Journal; “Workplace Bias and Gender Pay Equity in the Silicon Valley” in LJN Employment Law Strategist; “Trade Secrets and the Activision Case: Lessons for Employers and Employees” in the IP Litigator; “Protect Your Investments: Recent Developments in California Law Regarding Non-competition Agreements and Other Restrictive Covenants” in NVCA Today; “Microinequities: Can Bad Behavior Be Actionable?” in National Law Journal; “The When, Who and How of Workplace Investigations” in The Practical Litigator; and “California Raises Bar for Employers Again: Gender Pay Bias Claims Set to Take Off with New Gender Pay Equity and Anti‑Discrimination Law” in Bloomberg BNA Daily Labor Report.Eric is active in community endeavors. He founded and is a former president of the Board of Directors of Hapa Issues Forum, Inc., a nonprofit community organization that addresses issues relating to persons of partial Asian descent. Eric is a past president of the Board of Directors of the Japanese Cultural and Community Center of Northern California. He also is a member of the INROADS Alumni Association, The National Black Lawyers Top 100, the 100 Black Men of the Bay Area, Inc., and he has served as a mentor for students in the Level Playing Field Institute’s IDEAL Scholars Program.A representative sampling of Eric’s key matters is further below.<h4 dir="ltr">Trade Secrets and Employee Mobility Litigation</h4><ul dir="ltr"><li>Defending leading multi-cloud security and application management company in federal court lawsuit by competitor alleging trade secrets misappropriation, various employment-related contract and tort claims, and copyright and trademark violations based on alleged conduct in Russia and California.</li><li>Represented industry-leading enterprise data cloud company in multiple trade secrets and employee mobility lawsuits against former employees and competitor, including obtaining TRO on behalf of client enforcing restrictive covenants against Georgia employee and successfully opposing motions to dismiss and motions to stay in various actions.</li><li>Represented leading shared electric vehicle company in federal court lawsuit alleging against its former head of supply engineering and his new employer trade secrets misappropriation and related claims involving the downloading of thousands of our client’s files upon resignation.</li><li>Represented Springshot in federal court lawsuit to invalidate non-competition agreement that the former employer, Georgia-based INFORM Software, of its newly hired Chief Commercial Officer, sought to enforce to bar the CCO from working for Springshot. </li><li>Represented veterinary orthopedics client in federal court lawsuit against the founder of an acquired company over the enforcement of restrictive covenants, resulting in entry of a permanent injunction enforcing our client’s non-compete agreement against the founder.</li><li>Represented leading cloud computing and virtualization technology company in breach of duty and breach of contract lawsuit against departed executive.</li><li>Represented Fortune 50 corporation in trade secret and employee- and customer-raiding lawsuit against former co-founder and top executives who launched a competing business that achieved a nearly $1 billion IPO.</li><li>Represented international virtualization software company in trade secret misappropriation and employee- and customer-raiding lawsuit against several former executives.</li><li>Represented North American provider of IT solutions and services in series of lawsuits across the United States to combat alleged employee- and customer-raiding activities by competitor.</li><li>Defended investment bank in lawsuit involving enforceability of departing executive’s post-termination non‑competition agreement.</li><li>Represented pharmaceutical company in trade secret misappropriation lawsuit against former finance employee.</li><li>Represented international video game maker in trade secret misappropriation lawsuits against former executives and new competing business.</li><li>Defended national mortgage company in trade secret misappropriation and employee- and customer-raiding lawsuit filed by competitor.</li><li dir="ltr">Defended North American home furnishings retail chain in trade secret misappropriation and employee‑raiding lawsuit filed by competitor.</li></ul><h4 dir="ltr">Board of Directors, Investigations, and Whistleblower and other Employment Dispute Matters</h4><ul><li>Represented board of directors of NASDAQ-traded technology company in negotiation of CEO employment agreement.</li><li>Represented board of directors of publicly traded energy company in negotiation of separation agreement with CEO in context of proxy fight with activist investor.</li><li>Represented Fortune 500 semiconductor company in negotiation of separation agreement of incumbent CEO and employment agreement with new CEO.</li><li>Represented Japanese exchange listed healthcare company in the separation of its CEO and 20+ other U.S. executives, including defense of several wrongful termination and discrimination claims.</li><li>Represented Japanese exchange listed investment firm in separation of a C-suite executive.</li><li>Representing Canadian exchange listed company in wrongful termination and other claims alleged by two terminated C-suite executives.</li><li>Defending U.K. exchange listed company in the defense of federal court wrongful termination suit filed by the former CEO of its U.S. subsidiary.</li><li>Represented publicly traded Fortune 200 technology company in investigation of discrimination and harassment claims against C-suite executive, who subsequently resigned without incident.</li><li>Obtained complete defense award on behalf of technology company in suit filed by former co-founder alleging that the company failed to repurchase upon termination restricted stock valued at more than $5 million.</li><li>Defended pre-IPO biotech company in wrongful termination suit by former co-founder and CEO terminated by board of directors.</li><li>Advised board of directors of leading IT infrastructure company in termination of CEO and CFO of U.S. subsidiary after misconduct investigation and represented board of directors in follow-on wrongful termination claims by CEO and CFO.</li><li>Investigated claims by in-house lawyer that public technology company executives engaged in sexual harassment and national origin discrimination and represented company in successful pre-litigation resolution of claims.</li><li>Investigated and advised board of directors of pre-IPO biotech company on #MeToo allegations regarding top executives.</li><li>Represented publicly traded pharmaceutical industry company in investigation and resolution of whistleblower claims by CFO.</li><li>Obtained complete dismissal in favor of publicly traded gig economy company of discrimination and wrongful termination claims by alleged whistleblower engineer.</li><li>Obtained complete walkaway voluntary dismissal of sexual harassment and discrimination claims by former accounting employee against venture capital and property management company after years of litigation.</li><li>Represented publicly traded technology company in investigation and resolution of alleged revenue and expense reimbursement irregularities involving top sales executive.</li><li>Defended venture capital fund in pregnancy discrimination and restrictive covenant lawsuit by former partner.</li><li>Defended leading corporate social responsibility company in whistleblower and employment discrimination suit filed by former finance executive.</li><li>Defended international laser and fiber-optics company in suit alleging fraud regarding stock options.</li><li>Defended international video game maker in whistleblower and employment discrimination suit filed by former executive.</li><li>Represented top human resources executive officer in discrimination and retaliation lawsuit premised on alleged toxic workplace culture.</li></ul><h4 dir="ltr">Representative Non-Litigation and Transactional Matters</h4><ul><li>Represented founder of private technology company in negotiation of employment agreement with board of directors.</li><li>Represented CEO in negotiation of executive employment agreement with publicly traded biotech company.</li><li>Represented former Managing Partner in separation from iconic Silicon Valley venture capital firm.</li><li>Represented pre-IPO company CEO/Founder in investigation and defense of potential securities fraud claims.</li><li>Represented minority-shareholder executives in negotiation of employment agreements with foreign buyer of company.</li><li>Revised nationwide restrictive covenant agreements for publicly traded technology company.</li><li>Advised leading venture capital fund on restrictive covenants strategy for fund managers.</li><li>Advised leading technology investment fund in worldwide reduction in force.</li><li>Advised leading digital operations management company in worldwide reduction in force.</li><li>Represented clients in employment aspects of buy-side and sell-side M&A transactions across the world with deal sizes ranging from several billion to millions of dollars.</li></ul><h4 dir="ltr">Wage-and-Hour Class and Representative Actions</h4><ul><li>Defended construction company in purported class action for failure to comply with California wage laws.</li><li>Defended international technology company in collective action alleging failure to accurately pay wages to technicians across the United States.</li><li>Defended national restaurant chain in class action regarding alleged failure to comply with California uniform and other wage laws for 10,000 employees.</li><li>Defended international engineering and construction company in class action regarding alleged failure to comply with California overtime laws.</li><li>Defended landscaping company in class action regarding alleged failure to comply with California meal- and rest-period laws.</li><li>Defended individual directors of bankrupt technology company in suit by former employees for unpaid wages.</li></ul>

Eric Tate

Chair, Global Employment and Labor Practice

Jennifer Marines serves as global vice chair of Morrison Foerster, Head of the firm’s global Business Restructuring + Insolvency Group, a member of the Woman’s Strategy Committee, and a member of the Firm’s Finance and Benefits Committee. She has extensive experience in representing chapter 11 debtors, creditors, investors, and other parties in interest in all aspects of complex corporate restructurings, including chapter 11 cases, out-of-court restructurings, and distressed acquisitions.Jennifer has built a highly successful and peer-recognized practice in the restructuring and work-outs space, routinely representing companies and their boards in navigating complex distressed situations. Jennifer also has extensive experience advising official committees of creditors, negotiating and structuring financings and other commercial transactions, and representing clients seeking to purchase businesses and related assets out of chapter 11 proceedings. Jennifer is recognized by Chambers USA and The Legal 500 US in the area of corporate restructuring. She has recently been recognized as one of “Top Women in Dealmaking” by The Deal and a “Top Woman Dealmaker” by Global M&A Network. She has also been named an “Outstanding Young Restructuring Lawyer” for 2016–2020 by Turnarounds & Workouts and a “Bankruptcy Rising Star” for 2016 and 2017 by Law360. The American Bankruptcy Institute also honored Jennifer in 2018 as one of their “40 Under 40,” a list recognizing emerging leaders in insolvency practice.

Jennifer Marines

Vice Chair, Head of Business Restructuring + Insolvency

Few lawyers in the world have Miriam’s breadth and understanding of privacy and data security laws, obligations, and practices. As chair of Morrison Foerster’s preeminent global Data, Cyber + Privacy Group, leading 60+ lawyers, Miriam is regularly called upon by some of the world’s largest and most complex multinational organizations to confront their most difficult U.S. and international privacy and cybersecurity challenges. Miriam is a trusted advisor who provides legal and strategic advice on all areas of international privacy and data protection issues. She works with global companies on the planning and execution of complex global compliance efforts and helps them find practical solutions to use and manage personal information in every country in the world. She also defends regulatory matters relating to privacy and cybersecurity in the United States and internationally and advises on the Department of Justice Bulk Data Rules. Her counsel is particularly prized for cybersecurity preparedness and breach response. Miriam and her team have navigated some of the largest and most consequential cybersecurity incidents in history, including assisting Mandiant when it discovered and warned the world about the SolarWinds compromise. Having helped hundreds of clients respond to breaches, Miriam is frequently called upon to advise and educate boards of directors regarding cybersecurity and the key role that boards play in understanding and overseeing the potential risks. Miriam works with companies to develop comprehensive customized incident response plans, train staff, conduct extensive tabletop exercises, and address key issues with executive management. While she regularly advises clients on responses to ransomware attacks and other cyber extortion incidents, she works on all aspects that arise in the context of large security incidents, including communication strategies, notifications to customers, consumers, and regulators; public disclosures; interactions with law enforcement globally; litigation; and investigations by regulators around the world.Miriam serves as a board member of the ADP AI & Data Ethics Committee and is a leader in MoFo’s AI Group, a cross-practice team that provides sophisticated, full-service representation to a wide range of clients with companies that both develop and use cutting-edge, rapidly changing technology in the AI space. Miriam uses her extensive industry experience and collaborative global approach to help her clients integrate the newest trends and developments in AI with their business needs.Recognized as a market leader by all major directories, Miriam has been ranked in the top tier of privacy and data security lawyers worldwide by Chambers USA and Chambers Global for well over a decade. She was an inaugural inductee into The Legal 500 Hall of Fame, which is comprised of outstanding U.S. lawyers who have been recommended as The Legal 500’s Leading Lawyers for the last six consecutive years. The Cybersecurity Docket has recognized Miriam as one of its Incident Response 50, a list of the top data breach response lawyers globally. She has been named one of Financial Times’ Top 10 Innovative Lawyers in North America and a National Law Journal Cybersecurity and Data Privacy Trailblazer for her breakthrough work in this space. Miriam was also previously designated as an Ethisphere Attorney Who Matters and a BTI Client Service All-Star. A frequent commentator on cybersecurity, she has been interviewed by media outlets including CNBC, The New York Times, and The Wall Street Journal, among many others.