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| A new Democratic administration and Congress means that 27 million U.S. small-business owners -- already shaken badly by the economic slump -- could face an array of new issues, from potentially higher taxes to costlier workplace benefits. "There's a whole different set of issues on the table now," says Todd McCracken, president of the National Small Business Association. |
| (Source: USA Today (free reg. req'd), 2008-11-07) |
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| Private equity funds and offshore insurers are among industries that could see their taxes increased under a Barack Obama White House and strengthened congressional Democratic majorities. Obama hit frequently during the campaign on the theme of closing corporate tax loopholes and ensuring that companies pay their fair share. |
| (Source: MarketWatch (free reg. req'd), 2008-11-06) |
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| A thawing credit market is starting to unfreeze some big M&A deals. Now the question is how cold will the economy grow? |
| (Source: Fortune, 2008-11-06) |
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| Venture capitalists say that if the companies they invest in don't go public or get acquired with greater frequency than they are today, they could face a drought in available capital to invest in new ventures. That, they say, would be too bad, because entrepreneurial activity appears to have remained strong. |
| (Source: Journal of Business, 2008-11-06) |
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| In listening to venture capitalists and entrepreneurs talk at the Web 2.0 Summit in San Francisco, they seem to be rather upbeat. Which means they are either hopelessly delusional, or they know something the rest of us don't. |
| (Source: SiliconValley.com (free reg. req'd), 2008-11-07) |
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| Private equity management fees, which allow large funds to earn hundreds of millions of dollars in addition to performance fees, must be reformed, a top private equity investor told a conference. Solomon Owayda, chief investment officer of SVG Advisers, the private equity fund management arm of quoted private equity group SVG Capital Plc SVI.L, questioned the need for mega-buyout funds to charge the traditional two percent management fee on top of the performance-related carried interest system. |
| (Source: Reuters, 2008-11-05) |
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| Billions of federal bailout dollars are flooding the financial system, credit markets are loosening and many banks say they are ready to lend. But a crucial piece needed to solve the credit crisis is still missing: borrowers. |
| (Source: International Herald Tribune, 2008-11-06) |
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| Small merchants have long chafed at the fees they must pay banks every time a customer swipes a debit or credit card. But now, with business slowing and every dollar important to their bottom line, some merchants are pushing for changes. |
| (Source: The New York Times (free reg. req'd), 2008-11-05) |
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| When entrepreneurs can't get conventional loans, they traditionally turn to loans backed by the Small Business Administration, but in recent months -- as many banks turned away businesses and slashed credit lines -- SBA lending also has dried up substantially. The big decline in SBA lending is fueling new criticism that the federal government isn't doing enough to help businesses when they are in most dire need of cash. |
| (Source: The Wall Street Journal, 2008-11-04) |
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| One expert's advice for tech entrepreneurs thinking of launching right now? Don't wait. A recession can be your ally in building a lean, thriving company. |
| (Source: BusinessWeek, 2008-11-07) |
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| Harvard University's $36.9 billion endowment is in talks to reduce its private-equity holdings as the financial crisis makes leveraged buyouts less profitable, a person familiar with the situation said. The Wall Street Journal reported that the Cambridge, Massachusetts, school is seeking to drop about $1.5 billion in partnerships managed by companies including Bain Capital LLC. |
| (Source: Bloomberg, 2008-11-04) |
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| Janice Wilken |
Financial times are tough, but let's take a step back. Rather than making things worse for ourselves by stashing all our savings under the mattress, let's take a deep breath and look at the situation.
Read the entire story that was published on Inside INdiana Business.
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| Steve Humke |
John Thornburgh |
Assistance for Veterans Returning to Civilian Life
Secretary of Labor Elaine L. Chao hosted the U.S. Department of Labor’s (DOL) annual "Salute to Veterans" program, which highlighted the many DOL Programs that assist veterans and military personnel.
"Today, the men and women of the U.S. military are the finest, most capable, and technologically-advanced fighting force in the world. Each year over 318,000 military members return to civilian life," said Secretary Chao. "There is no more appropriate way to celebrate Veterans Day than to focus on them, and what we can do to help them make a successful transition to civilian life when they return."
Earlier this year, Secretary Chao announced 103 grants, totaling nearly $30 million, to provide approximately 19,000 veterans with job training to help them succeed in civilian careers. The grants are being awarded under the DOL's Homeless Veterans Reintegration Program (HVRP) and Veterans' Workforce Investment Program (VWIP).
Find information on the DOL's unemployment and re-employment programs for veterans.
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Middle Market Deals Are the Backbone of the Economy
According to a recent report by the Dow Jones Private Equity Analyst, middle-market deals are one of the few areas seeing activity. The report states that a total of 264 U.S. private equity firms raised $222.6 billion during the first three quarters of 2008. This represents an 11% gain over the $200.4 billion raised by 298 private equity funds in the prior year.
The report also found that distressed and mezzanine funds are now among "investor darlings." Distressed firms raised a record $48.2 billion in 2007. So far in 2008, 18 funds raised $27.9 billion up 28% from this point last year.
Read more about the report.
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November
November 13 - Keep Indianapolis Beautiful's 2008 A Monumental Affair
November 13 - The State of Agribusiness with U.S. Senator Richard Lugar
December
December 4 - Life Sciences Distinguished Speaker Series: Eric M. Meslin, Ph.D.
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Ice Miller has been active in the private equity industry for over 25 years, representing both management teams building great companies and the private equity firms and individuals that invest in them. We have extensive experience with all types of funds (formations and operations); mezzanine and senior secured financings; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.
Read the complete profile of the Private Equity and Venture Services Practice Group.
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