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| Small and midsize companies that depend on banks for money to help them grow are facing new challenges as the nation's credit crunch squeezes lenders and forces some to consolidate or even collapse. A plummeting stock market, a failed investment house and talk of layoffs prompted new concerns about the months ahead and a shortage of money, whether it's to take companies public, to start ventures or to underwrite big expansions. |
| (Source: Chicago Tribune (free reg. req'd.), 2008-09-22) |
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| With the Federal Reserve relaxing some rules on bank minority ownership by private-equity investors and other investment groups, private-equity infusions could bring relief to many U.S. small and regional banks. Many of the biggest private-equity firms have raised billions of dollars in war chests aimed at the ailing financial sector, and are just waiting for the chance to put them to use. |
| (Source: Forbes.com, 2008-09-22) |
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| Private-equity firms raised a record $324.4 billion in the first half of the year as investments in funds that buy distressed assets increased, according to a report. Commitments to distressed funds, which focus on debt and equity of struggling companies, rose 28 percent to $33 billion, while new money for buyout funds fell 18 percent. |
| (Source: Bloomberg, 2008-09-22) |
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| Senate leaders said that they had broken a months-long impasse over a tax-break package that would bring billions of dollars in relief to individual and business taxpayers, developers of clean-energy resources and people threatened by the alternative minimum tax. The agreement includes some $17 billion in clean-energy tax incentives and provides for a fix, at an estimated cost of $64 billion over 10 years, to shield more than 20 million taxpayers in danger of getting hit by the alternative minimum tax. |
| (Source: The Washington Post (free reg. req'd), 2008-09-17) |
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| Experts offer guidance for business owners on banks, credit unions, business loans, labor, pricing, insurance, and equity investments. |
| (Source: BusinessWeek, 2008-09-19) |
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| The global liquidity crisis is going to make selling companies more difficult, whether through IPOs or buyouts. Merger financing will be tougher to come by, and internal valuations of private companies will need to be reset at lower prices, to the chagrin of firms that may have been funded at the top of the market. |
| (Source: Barron's, 2008-09-22) |
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| Given the stress that small-business owners face daily, it isn't surprising that they often think about hiring people they know well and believe they can trust: members of their family. The decision may have a happy ending, of course -- but not necessarily. |
| (Source: The New York Times (free reg. req'd), 2008-09-16) |
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| Companies are getting a taste of how the credit crunch is making it more costly to borrow. Soaring debt costs, including for the biggest and best-known companies, are a clear sign how a subprime mortgage problem that first hit the housing and finance sectors has spread and is affecting many companies' ability to borrow and grow. |
| (Source: USA Today (free reg. req'd), 2008-09-19) |
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| One unusual venture capital firm distinguishes itself by taking only small initial stakes and focusing on services that use the Web to change a market rather than simply make it more efficient. The partners become active in the management of their portfolio companies, and they make a point of personally using the products of those firms, which currently include the Web darlings Twitter and Meetup. |
| (Source: International Herald Tribune, 2008-09-21) |
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| Companies owned by women and minorities have received less than five percent of total venture capital investments over the past 40 years, said Sen. John Kerry, D-Mass. They also continue to have a harder time getting bank loans than do similarly situated white male business owners, according to several studies. |
| (Source: Washington Business Journal, 2008-09-22) |
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| Small business owners and managers across the U.S. are raising their prices and increasing shipping and handling fees in response to inflationary pressures, according to a new survey. The Small Business Research Board found that 59 percent of the 1,000 small business owners and managers it polled were feeling inflationary pressures in the third quarter of this year, while 65 percent of those businesses have raised prices in response to the increasing inflationary pressures. |
| (Source: WebCPA, 2008-09-22) |
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| If you're willing to put in the time and energy, business can indeed be pleasure -- even at your second home. Business owners encourage prospective entrepreneurs to take as many moments as possible to enjoy where they are and not to panic about the rhythm of the seasonal market, which cranks up during the summer and slows down after Labor Day. |
| (Source: The New York Times (free reg. req'd), 2008-09-18) |
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What does it take to start, grow and sustain a business in Indiana? How important is foreign competition? What’s the state’s role in economic development and what initiatives offer the greatest growth opportunities?
Ice Miller LLP, Butler University’s College of Business Administration and Inside INdiana Business have, once again, collaborated to develop, implement and conduct a survey of Indiana’s business executives. Learn more about the 2008 State of Our Business. |
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| Steve Humke |
John Thornburgh |
Dow Jones Event
Taking It To The Bank: What PE Firms Need To Know About Investing In Financial Institutions
Thursday, September 25, 2008
Noon to 1:30 pm ET
The Fed finally answered private equity firms’ lobbying for more lenient policies on bank investments. It is easier than ever for firms to take a significant stake in banks as well as provide more guidance to management.
To discuss these new changes, what they mean for private equity firms and weigh the potential risks and rewards of investing in banks in the current economic climate, Dow Jones Private Equity Analyst has assembled an expert panel to host a 90-minute webinar essential for any firm seeking to profit from the financial services industry.
Sign up online or call 1-800-775-7654.
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Between 1977 and 2007, employment of workers 65 and over increased 101%, compared to a much smaller increase of 59% for total employment (16 and over). The number of employed men 65 and over rose 75%, but employment of women 65 and older increased by nearly twice as much, climbing 147%. While the number of employed people age 75 and over is relatively small (0.8% of the employed in 2007), this group had the most dramatic gain, increasing 172% between 1977 and 2007.
Does this increase just reflect the aging of the baby-boom population? No, because in 2007 the baby-boom generation — those individuals born between 1946 and 1964 — had not yet reached the age of 65
Source: U.S. Bureau of Labor Statistics
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September
September 25 - KPMG LLP's Indy's Best and Brightest Awards Luncheon
September 26 - IBJ's Power Breakfast Series: Health Care and Insurance
October
October 1 - CEO Survey Breakfast and Panel Discussion
October 7 - ADA Amendments Webinar
October 23 - Indiana Lawyer's 2008 Diversity in Practice Conference
October 28 - Gerry Dick Roundtable: Indiana Trailblazers
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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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