In difficult economic times, companies must worry about the financial condition of their customers. The classic problem is simply delivering products or services to a customer who does not pay. But if your customer goes bankrupt, it can get even worse— you can be required to pay back to the bankruptcy trustee payments previously received from the customer.
In the current economic turmoil, financing is an even greater challenge for those who need it and has become an issue for many who thought that their financing was secure. Although it can be stressful, there is still money out there, and with a focused effort, you can still get financed. Accept reality. Obviously, financing is less readily [...]
Sir Francis Bacon said, “Time is the measure of business” in the 1600’s. Those words are truer today than ever. How many times have you sat through a meeting that was a waste of time? We all have, in fact, we have even set them up and in the end realized it was not time well [...]
The U.S. Congress has gone after perceived abuses in executive compensation with complex new tax law restrictions on deferred compensation. Violation of these restrictions causes the employee to suffer harsh penalties, most notably a 20% excise tax. Unfortunately, the new tax rules affect many bonus and severance payment arrangements that no one would have previously [...]
You want your lawyer to be proactive and help you avoid legal issues before they arise. You do not want to update your attorney on your business while being billed $200 plus an hour for the attorney’s time. What to do? Do lunch (or breakfast, coffee, etc.). There are limits to what can be accomplished [...]
The recent raid by the Immigration and Customs Enforcement Agency (“ICE”) at the House of Raeford poultry processing plant in Greenville is a sobering reminder of the importance of immigration compliance for businesses. ICE detained over 300 workers at the facility on October 8, 2008, and the legal and operational consequences were dramatic – the [...]
