Trustee in Madoff Case Cashing In
A recent article posted by The New York Times pointed out that Irving Picard, the court-appointed trustee that is seeking to recover funds for the victims of the Madoff Ponzi scheme, is making around $850 an hour. Thought of initially as a modern-day Robin Hood, advocating for those poor individuals who were taken advantage of, Picard has obtained nearly $554 million in legal and other fees.
Thus far, Picard has reached settlement deals worth nearly $9 billion, but the Madoff victims have… Read the rest
Today, the use of independent contractors is becoming more and more prevalent. As jobs began to disappear in 2008, unemployed professionals decided to jump into the freelance waters and try their luck. As business try to stay lean, they have substituted a large staff of employees with independent contractors from a variety of industries. The nature of independent contractors involves work done outside the office, which can be difficult to oversee. Today’s post is aimed at giving you tips for how to manage your independent contractors.
Take Time to… Read the rest
Today’s post is going to digress from discussing the standard business model and introduce you to a different form of running a business: the worker cooperative. These organizations come in a variety of shapes and sizes. Below you’ll learn what a worker cooperative is, their existence in the US, how they are different than conventional businesses, and the benefits of this form of business.
What is a Worker Cooperative?
A worker cooperative is an organization that is owned and managed by its worker-owners. There are two important characteristics of worker cooperatives: the workers invest in and own the business, and the decision-making is… Read the rest
We caught you up to date on all of the recent SOPA developments in yesterday’s post, but there’s more news today. A handful of websites including Wikipedia shutdown their services today in protest of SOPA. Others, like Google, took a milder approach in illustrating solidarity in opposition to SOPA. Google replaced the image of its name with a black box blocking out the image. It seems like the protests have been effective as SOPA is finally getting the national media attention it… Read the rest
Is 2012 the year you’re going to expand your business? If so, have you considering franchising your business? Franchising your business is, arguably, the most successful way to increase your distribution channels. Most business owners understand the idea behind franchising, but many of those business owners aren’t aware of the extensive federal regulations pertaining to franchising a business. Today’s post discusses some of the legal requirements you should be aware of when deciding whether or not to franchise your business, initial steps you can take to simplify the franchising process, and some other alternatives for growing your business.
What’s a… Read the rest
Think back to the last time you read a contract. You may have noticed the phrase “representations and warranties” or “represents and warrants” a dozen or so times and, perhaps, you thought how do these terms differ, and is it redundant to use both terms? Both representations and warranties are functionally the same, especially in this day and age. In this post we’ll define representations and warranties, and inform you why the traditional use of both terms in your contract may no longer be the best practice.
Understanding the Terms
First, let’s explore the legal… Read the rest
The largest bank in Washington state, Bank of America, has made yet another move that is likely to keep customers running away from the banking giant. Bank of America is reportedly cutting its small business lending. The Los Angeles Times reported that Bank of America is severing a number of small business credit lines and is requiring the borrowers to pay off the loans in full. The Times article details a California businessman who received a demand letter from the bank requiring him to pay off his entire loan balance ($96,000) by January 25 or be subject to a 12% interest increase… Read the rest