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| The government's $700 billion rescue plan inspires mixed feelings at best from U.S. small business owners. Some say the plan was rushed. |
| (Source: BusinessWeek, 2008-10-03) |
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| In a financial counterpart to online dating services, companies like RaiseCapital, Go4Funding and Go Big Network are giving small businesses a new way to meet prospective investors. And with turmoil in the financial markets, credit tightening and uneasiness about the conventional financial system, these companies hope to provide opportunities to invest, to lend and to borrow -- and to find a market for these services. |
| (Source: The New York Times (free reg. req'd), 2008-09-30) |
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| With investors unwilling to bet on untested companies in the face of a deepening credit crisis and falling stock prices, businesses raised just $9.3 billion worldwide in IPOs during the third quarter. By comparison, companies raised $47 billion in initial public offerings in the third of quarter last year -- with financial firms accounting for nearly half of that total. |
| (Source: Financial Week, 2008-10-06) |
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| The pace of mergers and acquisitions declined 28 percent this year as the credit crisis checked companies' ability to fund deals, and the U.S. and European economies teetered on the brink of recession. Companies announced takeovers valued at $2.37 trillion in the first nine months of the year, down from the record $3.29 trillion in the year-earlier period, according to data compiled by Bloomberg. |
| (Source: Bloomberg, 2008-10-02) |
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| The global credit crisis and market meltdown appear to be taking a heavy toll on the world's private-equity markets. Indeed, a mere $82.3 billion was raised by 117 funds in the third quarter according to research by Preqin, an alternative-asset information provider. That was the lowest amount raised since the first quarter of 2005, when 159 funds scooped up just $64.8 billion. |
| (Source: CFO.com, 2008-10-06) |
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| With sales slow and credit almost nonexistent, small businesses -- the country's largest employer -- face painful job cutbacks. In the last two months, small companies show a net loss of 15,000 jobs since July. |
| (Source: CNNMoney.com, 2008-10-02) |
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| Two senators known for their support of stringent intellectual property enforcement expressed concern that an anti-counterfeiting treaty currently being drafted may be too far-reaching. Sens. Patrick Leahy (D-Vt.) and Arlen Specter (R-Penn.) sent a letter to U.S. Trade Representative Susan Schwab saying that the Anti-Counterfeiting Trade Agreement currently under negotiation "could limit Congress's ability to make appropriate refinements to intellectual property law in the future." |
| (Source: CNET News.com, 2008-10-02) |
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| With small-business loans and second mortgages scarce these days, some middle-age entrepreneurs are starting companies using their retirement savings, a novel financing method that they say avoids loan payments and early withdrawal penalties. These business owners are effectively treating their start-up ventures as any other stock in their 401(k) portfolio, and in the process they are providing seed capital for their own budding enterprises. |
| (Source: The New York Times (free reg. req'd), 2008-09-30) |
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| What does the financial crisis mean for VCs and for startups? For starters, if you are a second or third-tier venture firm trying to raise another fund, you can forget about it. |
| (Source: Fortune, 2008-10-03) |
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| Since the credit crisis began gripping the financial world, Silicon Valley has watched from the sidelines, secure in the faith that it was insulated from the coming storm, but that faith is now being seriously undermined. High-tech entrepreneurs, investors and executives now believe the question is when, not if, the financial chaos will hurt the country's cradle of innovation. |
| (Source: International Herald Tribune, 2008-10-02) |
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| Steve Humke |
John Thornburgh |
Ice Miller invites you to attend a briefing on the Legislative Outlook for the 111th Congress
Clay Heil and Graham Hill, both principals at Ice Miller Strategies, will lead a discussion of the legislative agenda items facing the next Congress with particular focus on Appropriations and Infrastructure issues, including the reauthorization of SAFETEA LU. They will answer questions concerning events in Washington, D.C. and facilitate a discussion of what to look for when the new Congress convenes.
Thursday, October 16
8:00 a.m. - 10:00 a.m. (EDT)
breakfast will be provided
Ice Miller Offices, 29th Floor
One American Square, Indianapolis, IN 46282
Please kindly RSVP to LeeAnne.Singletary@icemiller.com by Thursday, October 9.
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Full-time MBAs 40 and older are rare. But for some, it's a valuable experience.
While the number of 40-and-older students in all graduate programs increased from 1995 to 2005, according to the Council of Graduate Schools, the GMAC reports that the number of GMAT business entrance exams taken by 40- to 49-year-old students has been decreasing over the past several years.
Of 217,698 GMAT tests taken in the 2006-07 testing year, only 7,581, or less than 4%, were taken by 40- to 49-year-olds. That's also about a third less than five years earlier, when the 40-to-49 group took 10,092 tests. This drop can be attributed to several factors, including the fact that Generation X is one of the smallest population bubbles.
Although the number of tests taken by the 40-and-older crowd is down, admissions experts point out that an MBA remains a viable option for the right student. Touro College of Business in New York City has a high number of adult students - almost 20% of the fulltime graduating class there is 40 and older.
Source: BusinessWeek
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The Private Equity and Venture Services Practice Group has begun a blog that features updates and topics of interest to the industry. Read the blog.
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October
October 16 - Briefing on Legislative Outlook for the 111th Congress
October 23 - Indiana Lawyer's 2008 Diversity in Practice Conference
October 28 - Gerry Dick Roundtable: Indiana Trailblazers
November
November 5 - Council for Resource Development's 2008 Annual Conference
November 6 - Indiana Chamber of Commerce's 19th Annual Awards Dinner with Newt Gingrich
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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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