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Imagine you want to build a new house and have interviewed three contractors to obtain bids for the job. One bid $100,000, another bid $200,000, and the third bid $500,000. How would you decide between them? The answer is you couldn't make an apples-to-apples comparison unless the contractors were basing their bids on a single set of architectural plans specifying size, materials and other construction details.
Yet, when many law firms decide to build a new Web site, they solicit bids from vendors without first developing specifications detailing the desired features and functionality for the site. As a result, such firms receive disparate bids without an adequate basis for comparison. And in many such cases, a firm ends up selecting one of the lower bidders only to experience frustration when disputes arise with the selected vendor over increased costs and delays as the scope of work changes over the course of the project.
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.