When Death Is More Than a Blue Screen
March 26, 2007
Consider all the critical information that would vanish if a key employee of your business died suddenly, and others had to locate that information.
Exchange-Traded Solvency Derivatives
March 26, 2007
In the last ten years, the credit derivatives market has grown from its infancy to approximately $26 trillion of notional value according to the International Swaps and Derivatives Association, Inc. ('ISDA'). The most highly utilized type of credit derivative, the credit default swap, is used by investors to bet on a company's creditworthiness or hedge a position in a fashion that protects against the company's failure to make a payment or satisfy other terms.
Pros and Cons of Sequenced Retirement
February 28, 2007
Coming to terms with retirement is difficult and, like most things, is even harder if you are a law firm partner. As soon as you begin to think about throttling things back a tad, your clients demand a quicker response time and your partners want you to bring in more business. At the same time, what seemed just a short time ago to be a distant respite is now looming over you and you may not even know what to do or if you can even afford to do it. Moreover, even if you do not want to retire, your partnership agreement may have a mandatory retirement provision that takes away your choice.
Nondiscrimination Rights: EEOC Limits on Waivers
February 28, 2007
When involuntary employment terminations become necessary, employers often seek protection from possible post-employment claims by conditioning severance pay on the signing of a general release and agreement not to sue. As a general rule, such waivers are enforceable if they are 'knowing and voluntary.' Less clear, however, is under what circumstances an employer may condition severance payments on a promise by the departing employee that he/she will not pursue a charge with the Equal Employment Opportunity Commission ('EEOC') in connection with an allegation of discrimination, harassment, or retaliation.
TRHCA Tax Savings
February 28, 2007
Along with a multitude of other changes, the Tax Relief and Health Care Act of 2006 ('TRHCA') extends the time for several tax cuts that had expired at the end of 2005, makes certain tax breaks more beneficial, and provides greater flexibility regarding health savings accounts. This article highlights noteworthy new TRHCA provisions that can benefit law firms and their clients, as well as individual attorneys and staff members and their families.
Supporting Non-Equity Career Opportunities Through Two-Tier Ownership Structures
February 28, 2007
Lately, we've been hearing from a growing number of our (Hildebrandt International, Inc.) clients about escalating concerns relating to career path and non-equity opportunities. Although 79 AmLaw 100 firms and 169 of the NLJ 250 firms acknowledge a tiered ownership structure, and a large number of others utilize a de facto two-tier structure, many firms still adhere to a single-tier model.
Partnership Investments
February 28, 2007
With profits per partner continuing to rise, many attorneys have more discretionary income available for investment. In addition to investing directly in both traditional and nontraditional sources, some partners may also choose to invest (either inside or outside their law firms) in opportunities that arise in the law firm setting.
e-Commerce Holds Strong in Fourth Quarter
February 27, 2007
The federal government last month put its estimate of e-commerce sales for the fourth quarter of 2006 at $29.3 billion, up 6.3% from the third quarter, and up 24.6% from the fourth quarter of 2005, with the increase in total retail sales from late 2005 to late 2006 estimated at 4.6%.
