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| Private equity firms are
struggling to raise money amid the economic downturn, and likely will continue to have a hard time
of it until the cash constraints on their investors begin to ease. But a new report from McKinsey &
Co. offers some hope for the private equity industry as a whole -- if not for the buyout sector in
particular -- by setting out various scenarios for when firms might expect to see a recovery. |
| (Source: The Wall Street Journal,
2009-07-09) |
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| The IRS will temporarily stop
collecting penalties from some small businesses that have been hit with big fines for not disclosing
the use of questionable tax shelters. The fines, which can reach $300,000 a year, were an unintended
consequence of a 2004 law aimed at big corporations that use the shelters to avoid taxes. |
| (Source: USA Today (free reg. req'd),
2009-07-07) |
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| Sen. Charles Grassley, R-Iowa,
has introduced a bill to lower the tax burden on small businesses. Grassley, ranking member of the
Senate Finance Committee, introduced the Small Business Tax Relief Act of 2009. |
| (Source: Financial-Planning.com,
2009-07-09) |
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| The Obama administration is
developing an initiative to take money from the $700 billion rescue program for the banking system
and make it available to millions of small businesses, which officials say are essential to any
economic recovery because they employ so many people, according to sources familiar with the plan. A
proposal being floated by senior Treasury Department officials calls for using the bailout funds to
expand a government program that helps small companies borrow from banks at low rates to keep their
businesses going, the sources said. |
| (Source: The Washington Post (free reg. req'd),
2009-07-11) |
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| New changes to a U.S. Small
Business Administration investment program should make more venture capital and private equity
available to small businesses, SBA officials say. The American Recovery and Reinvestment Act, which
Congress passed in February, called for the changes to the SBA's Small Business Investment Company
program. |
| (Source: Charleston Regional Business Journal,
2009-07-13) |
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| Venture capital activity
bounced in the second quarter, but remained well below historical averages, the National Venture
Capital Association said. Five companies went through venture-backed initial public offerings in the
second quarter worth a total of $720 million, ending the record-poor performance of the previous two
quarters, in which no IPOs were done, the industry body said. |
| (Source: Reuters, 2009-07-02) |
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| For a group accustomed to
looking outward for the next big thing, Silicon Valley's venture capitalists are getting very
introspective these days. Much of the soul searching along Sand Hill Road in Menlo Park, where many
of the venture capitalists have offices, is leading to the same conclusion: venture capital needs to
go back to basics. |
| (Source: The New York Times (free reg. req'd),
2009-07-06) |
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| The economic waters may be
rough right now, but the managers of an Atlanta private equity fund say it's time to dive in. The
deep recession has made investing in any business more risky, experts say, but it's also thinned the
ranks of private equity firms willing and able to invest and driven down the valuation of companies,
said Mark Buffington, a managing partner at Buckhead Investment Partners. |
| (Source: Atlanta Journal-Constitution (free reg. req'd), 2009-07-08) |
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| Despite emergency stimulus
measures, small business lending continues to fall. In the just-ended quarter, the Small Business
Administration's flagship program backed 30 percent fewer loans than it did a year ago, and 55
percent fewer loans than it did in 2007, before the recession set in. |
| (Source: CNNMoney.com, 2009-07-02) |
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| As a growing number of
entrepreneurs compete for a shrinking pool of capital, it's more important than ever to make a good
first impression with an airtight pitch. The most common mistake entrepreneurs make when pitching to
venture capitalists is failing to present themselves well, says Steve Brotman, a venture
capitalist. |
| (Source: The Wall Street Journal,
2009-07-13) |
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| The economic doldrums may be
slowing patent filing work for intellectual property specialists, but the U.S. Patent and Trademark
Office's increasingly stingy patent allowance rate is boosting back-end work for lawyers at the
agency's appeals board. Attorneys link the recent spike in ex parte appeals at the Board of Patent
Appeals and Interferences to the sharp slide in patent allowance rates. |
| (Source: law.com, 2009-07-06) |
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| Steven
Humke |
John
Thornburgh |
Inside INdiana Business, Butler University College of Business and Ice Miller LLP announced the
results of the third annual statewide survey of Indiana's chief executive officers and senior
executives. The survey, "The State of Our Business – A Perspective from Indiana
Executives," provides insight and understanding with respect to significant issues facing CEOs, the
state's role in attracting and retaining business, specific state initiatives and employment related
issues.
The report captures the opinions of over 350 Indiana chief executives from all areas of the
state and from a wide range of manufacturing, service and not-for-profit organizations.
The partners addressed several themes to examine in greater detail including: CEO challenges and
issues, the state's economic climate, the state's role in economic development, human resources,
education, and information technology.
Read the results of the
2009 survey.
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A few of the highlights from the
Indiana CEO Survey, "The State of Our Business – A Perspective from Indiana Executives,"
are:
- "Customer loyalty and retention" and "corporate reputation" still top the list as the most
significant issues for CEOs, though "customer loyalty and retention" has increased significantly
since 2008.
- Indiana's executives are not overly enthusiastic about the availability of public or
private funding sources. In fact, perceived availability of public funding sources both inside and
outside the state have dropped significantly since 2008.
- For the first time in the CEO survey, perceived availability exceeds perceived demand for
all types of workers.
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Incentives are on the rise for
businesses to provide "green" products and services. Many consumers are willing to pay a
premium for products that are environmentally friendly, and businesses have taken notice.
Buzzwords such as "organic," "recyclable" and "hybrid" are used to distinguish a product from its
competitors. Even the government has increased its focus on encouraging companies to provide
environmentally friendly products and services by offering a wide array of tax incentives available
to companies and consumers. It is not surprising that many companies have responded to these
incentives by embarking on green marketing campaigns.
However, companies engaged in green marketing are not only increasing their profits, but also
their risk. Lawsuits and class actions accusing companies of "greenwashing" - marketing the
environmental friendliness of a company's product in a false or misleading way - have sprung up
across the nation.
Read the entire article on greenwashing
litigation.
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Ice Miller has a blog dedicated to issues of importance to the general
business community. Read the blog.
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July 26 - Allstate at the Brickyard 400
August
August 11 - Indiana Biomedical Entrepreneur Network
August 17 - 2009 Solheim Cup
August 19 - 2009 Ice Miller Agribusiness Summit at the Indiana State Fair
August 20 - 6th Annual Association for Corporate Growth Indiana Golf Outing
August 30 - Red Bull GP
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