July 2015

What are the Benefits of a Private Foundation?

Discover the numerous benefits of a private foundation.

The Family Foundation: Structuring Considerations

Many families (or related corporations) are interested in giving back to the community in the form of charitable contributions. A private foundation is an ideal vehicle for accomplishing this goal, for two reasons: (1) it can be used to provide direct monetary assistance to local charitable organizations, thereby helping the less fortunate, and (2) contributions to a private foundation may serve to reduce a donor’s taxes.

Successful Succession Planning: Keeping it Alive

July 24, 2015 by Kevin M. Alerding, Paul H. Sinclair,
Succession planning is not an event; it’s a process. A succession plan will change, as will a business plan. Even after a business owner has put pen to paper, it is critical that the plans continue to evolve. 

Successful Succession Planning: Confront the Brutal Facts and Begin with the End in Mind

July 22, 2015 by Kevin M. Alerding, Paul H. Sinclair,
Admiral James Stockdale is credited with articulating what is known as the “Stockdale Paradox.” The Stockdale Paradox says that we should not confuse our faith that things will “work out in the end” with the discipline that is necessary to confront the brutal facts as they are today. The brutal fact is that business succession planning is all about the business outliving the owner and even thriving after the owner’s exit.

Snipe Hunting: Is there such a thing as successful succession planning?

July 20, 2015 by Kevin M. Alerding, Paul H. Sinclair,
Newly minted campers are often initiated into the camping group by being sent on a “snipe” hunt. The “snipe” is that mythical creature that lurks in the woods and can only be captured by some ridiculous hunting method. When we consider the statistics of successful business succession planning, we wonder if succession planning is the business owners’ equivalent of a snipe hunt.

Typical Areas to Address When Preparing for Sale and in Succession Planning

July 16, 2015 by Thomas A. Pampush, Partner
Several key areas of inquiry can drive or detract from value. Typical areas to address, both when preparing for sale and in the context of succession planning, include the following.

FDA Delays Menu Labeling Rule for a Year

July 14, 2015
On December 1, 2014, the FDA issued its menu labeling rule, which requires businesses with 20 or more locations selling “restaurant-type food” to publish calorie and other nutrition information for “standard menu items, including food on display and self-service food.”  

Getting Your House in Order: Driving value through succession planning

July 14, 2015 by Thomas A. Pampush, Partner
By now you’ve heard countless times the importance of succession planning to a smooth transition of business ownership. Yet for reasons that are understandable, if not excusable, few businesses have succession plans and fewer still useful ones. 

The Sixth Circuit Narrows What It Means To Be An “Advertisement” Under the TCPA

July 13, 2015 by Isaac J. Colunga, Partner
The Telephone Consumer Protection Act (TCPA) prohibits “unsolicited advertisements” sent to fax machines.  47 U.S.C. § 227(b)(1)(C).  But when is a fax considered an “advertisement” for purposes of the TCPA?  Several district courts have attempted to answer this question, and we finally have some appellate court guidance.  

Five Voluntary Exit Options

July 9, 2015 by Kevin M. Alerding, Partner
Next, get some professional advice on what exit options are available to you given your specific circumstances and goals. In general, there are five voluntary exit options. 

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