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| Private equity and hedge funds say they welcome more oversight of their secretive industry and are pushing the U.S. Congress to pass meaningful financial reforms. Although more than a year has passed since the economic crisis exposed gaping holes in regulation, lawmakers are still debating how to protect consumers and the financial system, unnerving the trillion dollar alternative investment industry, according to various guests at the Reuters Private Equity and Hedge Funds Summit. |
| (Source: Reuters, 2010-03-04) |
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| Added incentives for banks to make Small Business Administration-backed loans will continue through the end of March, thanks to a fresh funding infusion authorized by Congress as part a bill extending unemployment benefits. |
| (Source: CNNMoney.com, 2010-03-03) |
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| Tightened underwriting standards have pushed many consumers out of the traditional banking system and sent them hunting for alternatives. In a survey of 16 microlenders by Opportunity Finance, a network of financial groups, 81 percent reported that applications for those small-dollar loans increased during the fourth quarter compared with the previous year. |
| (Source: The Washington Post (free reg. req'd), 2010-03-08) |
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| This month, one of the initial recovery efforts aimed at the small-business lending market is set to expire. Announced in November 2008 and implemented almost exactly a year ago, the Term Asset-Backed Securities Loan Facility, or TALF, worked behind the scenes to propel the market for loans guaranteed by the Small Business Administration. |
| (Source: The Wall Street Journal, 2010-03-05) |
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| More than a dozen investors and tech luminaries are on a three-day trip to Capitol Hill. Talking point No. 1: the StartUp Visa Act of 2010, a bill introduced by Senators John Kerry (D-Mass.) and Richard Lugar (R-Ind.) in late February that would create a new type of visa for foreign entrepreneurs looking to start businesses in the U.S. |
| (Source: BusinessWeek, 2010-03-03) |
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| Many small-business owners say they inherently treat their employees like family and therefore do without strict internal controls, security cameras or other defensive tactics. But fraud experts say the opportunity to steal with ease is simply too tempting for some workers to ignore, especially in bad economies. |
| (Source: The Wall Street Journal, 2010-03-04) |
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| A new coveted position called an "entrepreneur in residence," or E.I.R. in Silicon Valley shorthand, is emblematic of the valley's economy of ideas. Most E.I.R.'s receive a monthly stipend of up to $15,000 to sit and think for about six months. In return, the venture capital firm usually gets the first shot at financing the idea that emerges from this meditation. |
| (Source: The New York Times (free reg. req'd), 2010-02-27) |
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| Investors with cash to deploy are calling the shots for private equity and hedge funds desperate to win back business, and only some of the top firms are now able to dictate terms again. Funds are having to negotiate on the level of the lucrative fees that both industries were used to charging, or give clients so-called managed accounts that give them more control and greater visibility over their assets. |
| (Source: Reuters, 2010-03-03) |
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| A company's intellectual property is often what drives profitability and growth, but because such knowledge-based assets don't count for much on corporate balance sheets, financial execs have traditionally focused on maximizing book-value assets, devoting their energies to, say, inventory reduction. But it's more important than ever to pay attention to the IP at the heart of value creation, as is evident in many high-profile industries. |
| (Source: CFO.com, 2010-02-25) |
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| Since going public six years ago, Google has generated more than $170 billion for its employees and investors. Many of the millionaires the company has produced are young, wired into the latest developments in tech, and at ease with risk, explaining why so many Google alums are active angel investors, attempting to add another zero to their bank accounts and another innovative company to their list of accomplishments. |
| (Source: BusinessWeek, 2010-02-25) |
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U.S. Investors Could Help Secure Green Cards for Foreign Entrepreneurs
Ice Miller immigration attorneys recently authored an article about Democrat John Kerry and Republican Richard Lugar introducing legislation to the U.S. Senate that proposes a new category of employment-based visas for foreign entrepreneurs who create startup companies and jobs in the U.S. The goal for the legislation is to establish an employment-based immigrant visa for foreign entrepreneurs who have received significant capital from investors to establish a business in the U.S.
Read the entire article about green cards for foreign entrepreneurs.
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Nonfarm payroll employment was little changed in February, and the unemployment rate held at 9.7 percent. Employment fell in construction and information, while temporary help services added jobs. Unusually severe winter weather in parts of the country may have affected payroll employment in February; however, it is not possible to quantify precisely the net impact of the winter storms.
Source: U.S. Bureau of Labor Statistics
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Visit the Ice Loop to read about ExactTarget acquiring CoTweet, a San Francisco-based start-up that offers tools to help businesses manage their tweeting.
The Ice Loop is a blog maintained by Ice Miller’s Internet, Technology and Social Media Practice, which is a comprehensive multi-disciplinary practice that addresses nearly all facets of legal issues related to the transformation and evolution of consumer and commercial business practices from print to electronic medium over the course of the last 18 years.
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March
March 16 - TechPoint's Life Science Lunch Series
March 18 - Financial Executives International Joint Meeting with the Association for Corporate Growth
March 24 - The Indiana Chamber of Commerce's Economic Club of Indiana: Governor Mitch Daniels
April
April 2 - TechPoint New Economy New Rules
April 13 - Indiana Biomedical Entrepreneur Network
April 15 - Financial Executives International's Education Night
April 22 - Association for Corporate Growth's 6th Annual Indiana Corporate Value Awards Dinner
April 28 - The Indiana Chamber of Commerce's Economic Club of Indiana Speaker's Reception
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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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