Maximizing your company

borislavamcoc.blogspot.com
While that relationship may well havebeen affected, another importanrt area that has been impacted has been privatr institutional investment – in particular, the eagernes of private equity funds to enter into transactions, and the valuationm that an institutional investor might assign to a This is because private equity firmsa often augment their equity investment with bank debt in order to maximize the returns to their shareholders. If credit conditions make it more difficult for these firms to raise deals areless common, with the ultimate resulg of a lower valuation for a company if a transaction is beingy contemplated.
If owners or managementy of any company are anticipating a saleor capital-raising event of this type at some point, how can they ensure that the valuatioh is a favorable as possible? A few For example, the company should have a robust shareholder’s agreement. This is a very basic, but key, part of any corporatw documents. It addresses issues such as the rules governing salesof shares, composition of the board of directorsd and other matters. A corporate attorney with experience in addressint these specific matters shoulddrafy it.
If you have not had competent counsel review theswdocuments recently, it would be money well spent: An ouncse of prevention here can mitigatr huge problems later. Any law firm with a business law practicew should be able to assistf in a matter such as It should go without saying that if your accountingb records are inpoor condition, it will be extremelyu hard to support any sort of attractive In fact, in this market, many firmsw will simply pass on a deal where the financial records are This is simply because there are enough other deales out there where this is not an issu that an investor will just move on to thosse deals.
Any company that has any reason to believes that it will be looking to raise outside capital – debt or equity – should have appropriat accounting controls and procedures in If the company does not possess the internal expertise to implement thesew controls, any competent CPA firm should be able to As an end result, management should look to put in placd a process that resultsa in audited financial statements. If management can articulatee and defend how the company will achieve its growth goald for the next coupleof years, it will have a major impact on valuation.
This includes concrete saled goals, executable plans to achieve those goalsd and infrastructure rollout to support Even though growth right now mighttbe minimal, if management can credibly demonstrat e how it will addressd this issue, it can make a very significan difference in how the company is viewed by an outsidd investor. By preemptively addressing thesed issues, management seeking outside investment can make their companhy more attractive and help support a more compellinvg valuation from the perspective ofall

Study: 'Minute clinics' slow to catch on in Mass. - Business Courier of Cincinnati:

idellecromwell1991.blogspot.com
But a new studyt by the consultancy firm Deloitte has found that people in Bostom are statistically less willing to use this new alternativ e healthcare option. The percentage of patientds who were likely to use a retail clinic if it cost half as much as a doctorf visit was 30percenrt nationwide, but only 21 percent in The percentage of patientw that have actually used a retailo walk in clinic in the past year was 13 percent nationwide and only 5 percent in Boston. Even a one week wait for a doctod would not entice very many Bostonians to go to aretaip clinic: just 18 percent of Bostonianx said that would make them change their behavior, compared with 28 percenyt nationwide.
The newly-released study was conductef in Octoberof 2008, and included 5,665 subjectz nationwide. Chip Phillips, the president of said the study does ot fully reflecgt the preferences of patients inthe state. He said the company'e clinic in Medway has administered morethan 9,60o0 flu shots and handled nearly 28,000 acute care visits since opening in September. “Initial acceptance of the retailk clinic model in Massachusetts has been higher than the vast majority of ourmarketg launches,” Phillips said.

Academic Team honoree: Sabrina Gill - Business First of Buffalo:

buunamula-fastest.blogspot.com
Accomplishments: National Merit Scholarship ACT score of35 (equal to 1,580 on AP Scholar Award (with Distinction). Editotr of school environmental magazine. Captain of Science Olympiacd team. Captain of tennia team. Full name: Sabrina Kaur Gill. April 14, 1991, Buffalo. Parents: Liveleen Gill, Harbindedr Gill. Residence: Williamsville. Favorite Physics (taught by Frank Brunner). “His enthusiasjm spreads through the class and makes the toughmaterial appealing.” College and likely major: , biology. Hope to be doing 10 yeards from now: “I may be warming up to the idea of the West but I’m going to wait and see how college goes before I decide anything.
” If couldc meet anyone from history: “One of my ancestors, like my It would be fascinating to talk to her and If could have dinner with anyone now alive: Jhumpza Lahiri. “She has written a coupler of fantastic books I just read andidentifty with. I would love to talk to her about hershoryt stories, her life and our to proceed to the next Firs Team honoree: Kevin

Kentucky House passes mega-projects, economic development bills - Denver Business Journal:

http://troyproctors.com/content/241
House Bill 4, sponsored by House Budgegt Review Subcommittee on Transportation vicechairman Rep. Don D-Winchester, passed by a vote of 89-9. The bill allowas the creation of the Kentuckyy Public Transportation Infrastructure Authority to oversee the financint and construction of transportation projectsof $500 million of more, such as the Ohio River Bridgess Project between Louisville and Southern Indiana, and an Interstate 69 bridger project near Henderson, Ky. The authorithy also would oversee mega projectsx withinthe state. Such projects might be financeds through revenue bonds paid for with Pasley said in anews release.
“Wde have some $12 billion to $13 billion in projects now on the radare that we have no feasiblee way topay for,” Pasley said in the He added that the creatiojn of the infrastructure authority mightt help Kentucky secure additional federal fundingf for large transportation projects. The second bill passed by the Housew Wednesday, House Bill 3, whichn was sponsored by Rep. Tommy D-Owensboro. It would provide tax incentives for existing businesses to help them It also would add small business tax credits and tax creditsd and refundsfor high-tech in addition to expanding the criteria for propertiezs that can qualify for tax increment financinb district programs.
The bill, whicu passed the House by a 97-1 vote, also providesa a refundable income tax creditt for films producedin Kentucky, increases the cap on historic preservationm spending to $5 milliohn from $3 million. The bill also provides incentives for some ofKentucky Gov. Steve Beshear’s pet projects, including bringing a Sprinr Cup Series race to Kentucky Speedwayg andthe Breeder’s Cup World Championshipsd to the state, and securinh funding for a proposed $600 million advanced battergy factory in Hardin County. The bills will go to the Kentuckyg Senatefor consideration.
House members now will turn thei r attention to a bill that seeks to bring videol lottery terminalsto Kentucky’s horsre racing tracks and another that addresses the state’xs projected $1 billion budget shortfall. Thosd bills are expected to come befor House committees laterthis

Cheryl Cole in Silk Jumpsuit on Chilly Night - StyleBistro

http://www.kyd-cosmetics.com/sonnenpflege.html

Monsters and Critics.com

Cheryl Cole in Silk Jumpsuit on Chilly Night StyleBistro Cheryl Cole, the X Factor judge stepped out in chilly night on Friday (December 17) in London, England. Very beautiful, Cheryl was spotted in a very ... Cheryl Cole: 'The Flood' Digital Spy Cheryl Cole hits the right notes The Sun TV hero Cheryl Cole The List Daily Mail -PopDash -Grazia  »

MassMutual:

mastering-input.blogspot.com
The Memphis openings are a part ofthe Springfield, Mass.-based firm’d national campaign to recruit 2,000 independen contractors. “We’re recruiting dozens of new agents righy nowand we’re workin hard to attract top To do this we need to offefr an unrivaled package of training and support,” said Scotrt Rich, vice president of field force development for , in a MassMutual pays the tuition and fees for agents who earn industryy designations and college degreezs up to and including a master’ws of science degree in financial services.
Agentzs who build their own financiao services practice within the MassMutuapl agency may receiveoffice space, administrative utilities and nearly everything related to setting up and growing their MassMutual said. Eligible agentsa also receive an income subsidy for up tothrer years. For information about a financial servicesscareer .

We can directly help Holy Land - Catholic Sentinel

mcneil-arcade.blogspot.com

We can directly help Holy Land Catholic Sentinel Contrary to Deacon Cummings' assertions in his column that “we may be unable to do anything very much or directly about peace in the Holy Land” there is a ... and more »

Lotus legacy unclaimed - Gerard Lopez - BBC News

otomaqaqaba.blogspot.com

Globe and Mail

Lotus legacy unclaimed - Gerard Lopez BBC News Lotus Renault owner Gerard Lopez says that no current Formula 1 team can lay claim to the legacy of the original Lotus outfit. ... Only one team will be c »

BKD merges with Texas accounting firm - Wichita Business Journal:

torbjorntrainer1738.blogspot.com
The deal, terms of which were not makes Springfield, Mo.-based BKD one of the 10 largesg certified public accounting firms in theUnitesd States. BKD is Wichita's third-largesgt firm with 41 certified public accountants in itsWaterfron headquarters, according to the Wichita Business Journal's 2008 Book of Lists. With the BKD will add close to $16 million in annuapl revenue and95 employees. BKD says the acquisitiomn bolstersits audit, tax, risk management and transaction advisort services.
The move, the company strengthens its foothold in Texas with officeszin Houston, San Antonio and now “We want to continue our strategy of wise and the timing was right for us to have the partnerws and staff at KBA join us,” said Neal BKD’s chief executive, in a statement. “Ths commitment to excellence and client serviceof KBA’s partnerd makes them an excellent addition to BKD.
”

Colorado stimulus board boosts minority-outreach effort - Business Courier of Cincinnati:

http://wood-news.com/news/wood/6284/
Maranda Pleau, the small business coordinatorfor Greeley-basedd general contractor , will join the Colorado Economidc Recovery and Accountability Board June 29, chairman Don Elliman said during a boarxd meeting Thursday. Her job is to ensure minorituy businesses are aware of contracts related to thestimulus package, Ellimanj said. Officials with the Colorado Department of Transportatiob told the board they will recommensd the agency review how it handles complaintes about road and bridge contracts and the use ofthese small, minority- and woman-owne businesses. CDOT's move came after Hamonb Contractors Inc.
in Denver raised concerns abou t a bridge repair project paid for with money from the Americanj Recovery andReinvestment Act. Hamon lost a bid Apri l 16 to rebuild two bridges over Interstatew 76 inAdams County. The lowest bid for the contracty camefrom Centennial-based , whicn bid $8 million for the nearly 15 percent under CDOT’s estimate of $9.4 million. Statwe contracts are typically awarded to thelowest bidder.
But Hamon objected to CDOT awardingf the projectto Sema, sayingh Sema didn’t make a "good-faitbh effort" to hire enough minority subcontractors, according to a June 3 letterd from Mark Cavanaugh, director of the Governor’s Economi c Recovery Team, to the accountability board. CDOT reviewed the and Sema’s efforts to get minorituy businesses involved in thebridge contract. The reviews concluded Sema metthe agency’ss threshold for trying and CDOT formally awarded the projecrt to the company, CDOT executive director Russ Georg e said. But CDOT wants to review how it handleas future complaints about using disadvantagef businesses onstate contracts.
Celina Benavidez, directo of administration for CDOT, told the accountability boarsd she will recommendthe agency’ commissioners form a revie w committee involving members of the agency, interest groups, the attorney general’s office, and federal transportation officials. How to gather inpu t from minority businesses about their experience with aprime contractor. At the Hamon attorney Seth Firmender thanked CDOT for being willinbg to reviewthe process. Helgq Grunerud, executive director of the Hispanic Contractorsof Colorado, also praisedf CDOT’s move, saying, "We believe we’ves been heard.
"

RehabCare to acquire Dallas long-term acute care hospital - St. Louis Business Journal:

http://www.flintsoft.com/amfcu/approval.html
Under the joint venture, St. Louis-based RehabCare will own 80 percen of the interests and the physicians will own the remaining 20 Financial terms were not The 60-bed hospital will also get a new name, the . Gulf Statexs LTAC was formerly owned by and a groupp of Dallasarea physicians. It is located at 8050 Meadoq Roadin Dallas. RehabCare will manage the daily operationsa ofthe hospital, and the hospital’s 190 staff membersx will become employees of the new joint venture. The agreementg will allow RehabCare “the opportunity to team with a preeminen t group oflocal physicians” as well as “reinforce our strategyg to expand our hospita operations,” said John H.
Short, RehabCares president and CEO. RehabCare’es presence in the Dallas-Fort Worth market currentlyt consists of its whollyowned , as well as a contract-managee inpatient rehabilitation facility, an outpatient program and more than 35 skillecd nursing facility rehabilitation programs. Long-term acute care hospitals providd specialized, around-the-clock care for extended stay patient with chronic or medicallycomplex conditions, such as braimn injury, cardiopulmonary disease, chronic pain and neuropathy. The average length of stay exceede25 days.
RehabCare provides rehab services in conjunction with morethan 1,2009 hospitals and skilled nursing facilities in 42 The company also owns and operatex freestanding rehabilitation and long-term acutwe care hospitals.

Scrushy ordered to pay $2.8B for HealthSouth fraud - Philadelphia Business Journal:

andreychukuze.blogspot.com
billion in damages by a civilo court judge for his rolein ’s massivew accounting fraud scandal. The HealthSouth founder was deemex liable for losses incurredby shareholders, some of whom sued him seekinyg to recover their Judge Allwin Horn announced the verdict shortly after 10 a.m. Thursday. Horn’s judgment also declared Scrushy’s employmenr agreements with HealthSouth void. HealthSouth said it will receivw approximately 40 percent of any moneh recoveredfrom Scrushy. Attorneys for the shareholders filesd the suit against Scrushy on behalf of HealthSouth saying he directeds the accounting scandal had requested $3.6 billion.
Scrushy testified durin the trial and denied any He was brought to Jefferson County for the trialk from a Texasfederal prison, where he is currently servintg seven years for bribing then-Gov. Don Siegelman for a seat on a statw health carepolicy board. Scrushy was acquitted of criminal chargees in the HealthSouth fraudin 2005. HealthSouth said it is unsurer how much might be collectedfrom Scrushy, accordinvg to a news release. “We are pleased to see that justicwe has been served through this judgment and that anothef chapter of our past has been putbehindd us,” HealthSouth’s statement said.

Fraud busters co-pilot with attorneys in recent investigations - bizjournals:

http://www.venice-hotel-guide.com/2003/venice-city-centre-hotels.html
Mukamal is an accountant by trainingand certification, but such callws often come from attorneys. “Just the othetr day, attorneys for a trustee overseeing a condpo development calledand said, ‘Would you look at this for Mukamal said. “We looked at all the accounting standards and determined therr was a cause of action against the directoreand officers.” Accountants and attorneys work togethed more closely on fraud investigation than just about any other task.
Given the current era of real estate fraudc and Ponzi scheme blowups likeBernar Madoff’s, the skill and cooperation of good lawyers and accountants are more important than Mukamal has played many roles in largse financial investigations, from being in control of an estatwe as a trustee or receiver to providing advice for other receiversw or attorneys. He was a trustee for a small part ofSoutn Florida’s largest bank fraud at factoring company E.S. Bankest. “Fo the most part, accountants are used as a tool, but good attorneyx are open to suggestions from aforensicd accountant,” he said.
When he’s a receivedr or trustee, Mukamal, a partner at often coordinates the efforts of multipls lawyersand accountants. “I would be a conductor and directy my accountantsand attorneys,” he “Legal fees are not In some cases, I know I woulxd have a nice judgment I coulfd hang on my wall, but that doesn’t do any good if you’vee siphoned off all the money in obtaininy the judgment.” In one of Mukamal’s recent cases as a bankruptcy trustee, he secured a $6 million settlement in disputes with creditorsx of Laminate Kingdom, a Doral company that entered bankruptct with $20 million in claims against it.
He was represented by attorney Gary Freedmanof Tabas, . One of Soutn Florida’s best-known financial investigators is Lewis Freeman ofLewids B. Freeman & Partners in Miami’s Coconut Freeman’s biggest case was as received inthe E.S. Bankest fraud case, wher he examined money streams involving billion sof dollars. He was first appointed by the courrt as aneutral examiner, and then became a bankruptcy trustee. In that he was working with federapl prosecutors and relied on the support of threelaw firms.
the prosecutors have to do ‘CSI: on the numbers,” Freeman “So, the plaintiffs – which is usually the government – have to follows the money, and we are the ones who actuallhy go in and dothe autopsy.” Freeman works mostlt as an accountant, but is also an His legal help for E.S. Bankesyt came from Paul Battistaat , special counsel Stevee Thomas and attorneys at Berged Singerman. Investigating and recoveriny from real estate fraud has become a cottagde industry for some lawyersand accountants. Attorney Mark King of Jonex Walker in Miami has worked with to try to get a largr Bonita Springs condominium project back onits feet.
One of theifr tasks is figuring out if any fraud occurref and how the money mightbe “Often, a developer of a troubledx project will take out all the and attempt to justify it by saying it’x past-due management fees,” King “So, you need someone who understands managing propertiee and who is strong in numbersw to understand why that is or isn’ t so. KW has accountants who can do that.” The eventuao goal, with the accountants’ help, is to explain what happenesd to a judgeor jury, or to reachb a settlement before that happens.
“At some point, I’mn going into court to try to explainwhat happened, and tell the judged how we know it,” King said.