In the opinion of four out of five middle-market executives, the financial crisis will bottom out in 2009. This is according to a research report, "U.S. Middle Market Outlook 2009: Navigating the Credit Crunch," the first in a series of four in-depth studies on the middle market sponsored by CIT Group and produced by Forbes Insights, the research practice of Forbes Media.
Part One of this article addressed items on the Article 9 Joint Review Committee's agenda, including naming issues and transmitting utilities. This second installment discusses forms of initial financing statements and amendments, correction statements, control of deposit accounts, intangibles, and the Commercial Money Center and Highland Capital cases.
This article provides a very condensed version of both the current financial global crisis and the problems that exist in the LILO/SILO transactions and then draws some unseen parallels shared by each of them. In addition, some conclusions are drawn as to what may be learned from these events.
On Jan. 1, 2010, the long-awaited Ontario Motor Vehicle Dealers Act, 2002 and its two Regulations will come into force. The impact of this legislation is far-reaching to any person who sells, leases, or finances motor vehicles (consumer or commercial) in the Province of Ontario.
How can you serve your community ' and frequently, your firm ' without hurting your own firm's budget and community relations? You can say yes too often and dissipate your budget and your firm's time and energy, but how do you say no without seeming to be coldhearted and indifferent to community or charitable needs?
Today's tough economy finds many firms searching for new ways to improve profitability by increasing leverage through the use of technology. Preserving a competitive edge is crucial and can mean the difference between success or failure. Investing in the right technology, and the efficient use thereof, could help your firm weather or even thrive during the tough times ahead.
India looms large on the horizon as the next territory for increased expansion by law firms. A recent court ruling holding that India may tax a foreign law firm only for work actually performed in India, coupled with the enactment of a law permitting businesses to operate as limited liability partnerships, pave the way for these firms to enter the Indian market.
When the recession ends, many firms will have survived. But those that thrived will have employed all or some of the measures outlined in this article.
Who's doing what; who's going where.
As uncertainties in the economy continue, many law firms are facing the reality of excess capacity. Unfortunately, "right-sizing" a firm generally means laying off valuable employees. The loss of a job can be traumatic even in good times, when an employee can expect to quickly land a new position. But with cuts coming from businesses across the board, the next paycheck may be a long way down the road.
