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| For small companies looking to cash out, this may be an ideal time -- if they are willing to give sellers a financial hand. The reason is that fewer businesses are on the block these days as owners fret over the ability to live off their proceeds during the economic and market downturn. |
| (Source: The Wall Street Journal, 2008-11-13) |
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| Jeffrey Hull, a former corporate manager who now blends careers as an executive coach and psychotherapist, suggests a small business survival strategy that goes to the heart of the matter: Don't panic. |
| (Source: The New York Times (free reg. req'd), 2008-11-12) |
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| The Small Business Administration hopes to encourage lenders to resume making 7(a) business loans by letting them charge higher interest rates to borrowers. |
| (Source: The (Portland) Business Journal, 2008-11-13) |
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| As sales drop and business owners look for ways to cut their overhead, sending jobs to cheaper locations is an option back on the table. |
| (Source: CNNMoney.com, 2008-11-11) |
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| Caught in the credit vise of 2008 that is threatening their livelihoods, small-business owners are turning in droves to an age-old source of commerce: the exchange of goods and services, or barter, to hold on to their precious cash. In response, barter exchanges are working hard to sign up participants. |
| (Source: The New York Times (free reg. req'd), 2008-11-12) |
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| The head of the Senate Banking Committee said banks receiving money as part of the $700 billion federal bailout must step up their lending to consumers and businesses. Banks are failing to use public funds to make credit more available and to help troubled homeowners, said Sen. Christopher Dodd, D-Conn. Congress did not pass the bailout plan so banks could hoard the money or use it to scoop up faltering rivals, he said. |
| (Source: CNNMoney.com, 2008-11-13) |
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| Not since fourth grade have so many sophisticated investors been so troubled by a basic math equation. An asset-allocation problem called the "denominator effect" is forcing the selloff of billions in private equity and alternative investments. |
| (Source: Fortune, 2008-11-17) |
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| Venture capital's troubles have become a popular subject of conversation in recent weeks, not least because of the recent announcement that so far in 2008 only six venture-backed companies had managed to "go public" with their first sale of stock. Statistics have led to growing speculation that the venture-capital industry, once the pride of American entrepreneurialism, may have reached a tipping point on the way to oblivion. |
| (Source: ABC News, 2008-11-14) |
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| The next Congress and the Obama administration are expected to make major changes in both individual and business taxes, said a panel of Ernst & Young tax experts. Some of those changes include indexing and extending the alternative minimum tax patch, eliminating income taxes for senior citizens who earn less than $50,000 annually, offering a $4,000 refundable tuition credit and health insurance credits, and eliminating capital gains taxes for investments in startup companies. |
| (Source: Financial-Planning.com, 2008-11-13) |
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| Top executives at some of the world's largest private equity firms gave a grim forecast for the U.S. and global economies, although they expected Asia to recover from the downturn more quickly. |
| (Source: The Boston Globe (free reg. req'd), 2008-11-13) |
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| Joseph DeGroff |
Ponder, if you will, the impact of the economic, financial and credit market crisis on proper governance trends and the related board of director oversight role. Will independent members of corporate boards face aggressive and possibly well funded "where were the outside board members" attacks? The answer will surely be yes.
Read the article about outside directors.
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Employers beware: the Employee Free Choice Act is almost here! This proposed law - known as EFCA - will bring about a profound change in the law and will make it much easier for unions to organize your workforce. It will make smaller employers more likely targets for organization. Now is the time to prepare for this significant change, before it is too late.
Read the entire article on EFCA.
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| Steve Humke |
John Thornburgh |
U.S. Sen. Richard Lugar Provides Post-Election Analysis on the State of Agribusiness
Ice Miller LLP recently hosted a briefing with U.S. Sen. Richard Lugar and a distinguished panel of agricultural policy and agribusiness experts for one of the first post election analysis events. The dialogue focused on the future of agriculture under the Obama Administration and a preview of legislation likely to be introduced in the 111th Congress.
You can find out more about the event by visiting our agribusiness blog or reading the press release.
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Jobless Claims Surge
In more grim economic news released last Thursday, the number of newly laid-off workers applying for jobless benefits last week hit the highest level since the period right after the Sept. 11, 2001, terrorist attacks.
As the economy weakens, the government's fiscal health was projected to deteriorate, too, with layoffs cutting into tax revenues and forcing higher payouts for programs such as unemployment benefits and food stamps.
Unemployment, which jumped to a 14-year high of 6.5 percent in October, is now projected to climb above 8 percent. Sung Won Sohn, an economist at the Smith School of Business at California State University, said that will further crimp government tax revenues, which were down 7.5 percent in October from a year ago.
Source: Yahoo! News
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November
November 21 - Ag Leadership Seminar
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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