In a previous post, here, I discussed the importance of a board of directors for private companies. I want to dig a bit deeper into the specific issue of who you should invite to be on your board of directors. While at first thought this might be a resting spot for executives, friends and family, thinking more strategically about your board composition will provide significant advantages to your business. (more…)
I recently came across this video that discusses the basic topic of motivating people. I think you will be very surprised at what the research actually shows. Next time you need to motivate your employees, think about these simple concepts.
(Hat Tip: Darin Lynch — Thanks!)
“One really good attorney essentially takes the place of three outside counsel.”
This view was expressed by the Vice President, Associate General Counsel and Chief Compliance Officer at Best Buy Enterprise Services Inc. in the May 2010 issue of Inside Counsel. “Their ability to triage, to understand an issue as it’s coming in, can save me immense amounts of outside counsel fees and in-house resources.” But why is this approach reserved only for in-house counsel — it is not.
Perhaps the distinction is not whether an attorney works in-house or outside, but whether the company has found the right attorney. Companies must seek out counsel that understand what it is like to live with decisions in a business environment — not those who just make insulated and unpractical recommendations. The difference between a really good attorney that can triage issues and solve problems and “outside counsel” is not the location of the attorney, but their skill, experience and approach.
The General Counsel Hotline provides a business-centric, proactive tool to allow clients the luxury of in-house counsel at a fraction of the cost. See how this program can turn three of your outside counsel into one.
Here is a follow-up report by CBS News on the hidden dangers of digital copiers. The original report is here. Massachusetts Congressman Ed Markey called for an investigation by the Federal Trade Commission — concerned most Americans don’t know their information can be compromised. “We have to do a lot more to insure that the public and corporations know this,” Rep. Markey said, “and that absolute security is applied to copy machines across our country.”
What do you think?
(Hat Tip: Michael Mason Norman, ED.D. — Thanks!)
Did you know that most digital copiers have a hard drive? Did you know that every copy on these machines is recorded and stored on that hard drive. So, what happens when that copier (and hard drive) leaves your office? Take a look at this CBS News report:
Bottom line: make sure you take appropriate precautions to erase the hard drive when you get rid of your digital copier.
Ethos Business Law is continuing its quest to evolve business legal services by launching a new program aimed at providing businesses with a strategic and efficient tool to reduce legal risk and costs. The General Counsel Hotline is a new, innovative solution for companies that do not have internal legal resources. It allows clients to sign up for a low-cost, monthly fixed-fee package and receive the following benefits:
How many times have you experienced the following:
The General Counsel Hotline is the solution. Clients are embracing this new model and it just might be a perfect tool to augment your legal practices. Contact Ethos Business Law today to find out how the General Counsel Hotline can decrease your legal risk and increase your bottom line.
I recently saw yet another example of why building and maintain relationships is one of the most important skills you must master in order to become a successful business person. While working with a client through a complex and tricky loan restructure, one of the participating lenders was experiencing significant pressure on its business from bank regulators, unrelated to my client. This pressure caused that lender to create problems in the loan workout. However, the lead lender and the borrower had developed a strong relationship over many years and were able to leverage that relationship built on trust and proven execution to allow all participants to come to a workable solution. Had it not been for the strong relationship between the lead lender and the borrower, the result would have been drastically different. (more…)
In an article published last week in Forbes, some experts have declared that deal-making is back, citing some large recent transactions:
While these deals certainly make headlines, I don’t think they do much for main street American business and more importantly, I don’t think you can declare that merger and acquisition activity is back based on these deals alone. (more…)
A recent article in the American Bar Association Journal highlights a trend in business legal services: The Outside General Counsel. This “trend” is nothing new to Ethos Business Law — it is the basis of our business model — our “Ethos!” Outside general counsel services, or fractionalized general counsel, are growing in popularity as business owners realize the value they can leverage from proactive, business-focused attorneys that have in-house experience, business education and law firm training. But how do these services work and why are they better? (more…)
Looking for a way to increase your retirement savings? Still trying to catch-up after the “Great Recession?” Worried about your increasing tax bills that may become even more onerous over the next couple years? If so, Cash Balance Plans may be something to look at.
Some of the interesting attributes of Cash Balance Plans include:
• Are a type of defined benefit plan governed by the Employee Retirement Income Security Act (ERISA).
• May be well-suited for high income-earning professionals and owners of small, closely-held businesses.
• Feature deferral of more pre-tax income than 401K or profit sharing plans.
• Can often be layered on top of a 401K or profit sharing plan.
I recently saw a research article here that provided a great summary of Cash Balance Plans. This was put together by Bernstein Global Wealth Management and was sent to me by Paul Borowski, one of their advisors (Paul.Borowski@bernstein.com). Take a look and see if this might be right for you.