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Venture Briefing: Small Businesses Could Get $350B from Emergency Relief Bill Venture Briefing: Small Businesses Could Get $350B from Emergency Relief Bill

Venture Briefing: Small Businesses Could Get $350B from Emergency Relief Bill

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Small Businesses Could Get $350B from Emergency Relief Bill
The historic $2 trillion emergency relief bill approved by the U.S. Senate includes a $350 billion loan program aimed at helping small businesses weather the economic storm from the coronavirus. CNBC said the Paycheck Protection Program could be a "potential lifeline" for small businesses though an official at the National Federation of Independent Business said the relief may have been delayed too long.
(Source: CFO, 2020-03-26) Read the full article
'Affiliation Rule' Could Keep Startups From Getting Stimulus Help
The Senate passed a $2.2 trillion safety net for the American people and American businesses. But the package left out thousands of small companies owned by private equity firms.
(Source: Axios, 2020-03-26) Read the full article
Private Equity Firms Ready to Pounce on Struggling Industries
The coronavirus pandemic is shutting down entire sectors of the economy and putting millions of Americans out of work, but one corner of Wall Street may find opportunity amid the carnage: private equity. The group, which includes investment giants Blackstone, Carlyle and KKR, has a record $1.5 trillion in cash ready to deploy and has been actively seeking deals across the struggling travel, entertainment and energy industries, according to a half-dozen investment bankers who declined to be identified to speak candidly about potential clients.
(Source: CNBC, 2020-03-25) Read the full article
Pandemic Wreaking Havoc on M&A Deals, But Some Getting Done
Companies announced $62.5 billion of mergers, acquisitions and investments since the virus was deemed a pandemic on March 11, according to data compiled by Bloomberg. To be sure, that's less than half the amount during the same period a year earlier, meaning 2020 could be one of the worst years for M&A in a decade, if that pace holds.
(Source: Houston Chronicle, 2020-03-27) Read the full article
Some of $10T in Corporate Debt to Be Bought by Federal Reserve
There is a total of $10 trillion of corporate debt in America from bonds to loans, and some of it will be bought by the U.S. central bank. In an unprecedented U.S. action, the Federal Reserve moved to buy corporate debt, one of several actions the U.S. central bank took in a massive start-of-the-week intervention to support credit markets amid the dramatic economic impact of dealing with the coronavirus.
(Source: Forbes, 2020-03-23) Read the full article
V.C., P.E. Deals Taking a Back Seat During COVID-19 Pandemic
Silicon Valley investors and start-ups are stuck in limbo due to the coronavirus. Private deals are being held up thanks to new economic risks and "shelter in place" restrictions making it impossible to evaluate start-ups in person.
(Source: CNBC, 2020-03-19) Read the full article
Companies Preparing Succession Plans as COVID-19 Continues
Temporary succession planning could become a more pressing issue in the coming weeks, as companies prepare for the possibility of executive absences related to the coronavirus pandemic, governance experts say. Finance chiefs, long seen as a steady hand within an organization, are likely contenders to temporarily fill a chief executive or chairman post, if needed.
(Source: The Wall Street Journal, 2020-03-20) Read the full article
Small Captive Insurance Helps Cover Risks During Pandemic
A type of private insurance that is used by wealthy business owners to cover unlikely risks and that has been challenged by the Internal Revenue Service is proving to be beneficial as the coronavirus pandemic shuts down local economies. The structure, known as a small captive insurance, allows business owners to self-insure against unlikely, but costly, risks.
(Source: The New York Times, 2020-03-20) Read the full article
Investors May Demand More Info on ESG Factors Post-Pandemic
The recent volatility in financial markets due to the coronavirus pandemic could provide investors with more of an incentive to grill companies on nonfinancial risks. Environmental, social and governance investing was growing in popularity before the virus began to circulate, as investors flocked to companies that have taken steps to manage nonfinancial risks related to matters such as climate change, board diversity or human rights issues in the supply chain. But the pandemic has demonstrated on a large scale the importance of other factors that are paramount to ESG investors.
(Source: The Wall Street Journal, 2020-03-25) Read the full article
Coronavirus Could Cause Investors to Seek New Limits on CEO Pay
The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies' annual meetings this spring. Even before the economic shock, many companies were linking executives' paychecks to new measures.
(Source: Reuters, 2020-03-25) Read the full article
 
 
 
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Read Ice Miller's Summary of the CARES Act Federal Loan Programs
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Congress has passed three phases of a Federal stimulus package to provide relief to those impacted by the Coronavirus pandemic. Read Full Summary here.

 

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Ice Miller has organized a COVID-19 Task Force to help educate our clients about their risks and their companies' risks due to COVID-19. See all of our resources here.

 

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Ice Miller has been one of the most active law firms in the private equity industry over the last decade, representing both entrepreneurs 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 financing; leveraged buyouts, roll-ups, build-ups, and consolidations; divestitures and exits; and complex litigation on behalf of investors and privately financed companies.  In addition, over the past 10 years, Ice Miller has represented hundreds of emerging growth businesses in various industries on such matters as entity formation, capitalization, capital raising, alternative financing, intellectual property rights and protection, growth and exit strategies, corporate governance, tax matters, and many other legal issues that are critical to the growth and success of an emerging company.

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