Has Anything Changed?
Nearly 2 years have passed since the Enron scandal broke, and a year has elapsed since Congress passed the Sarbanes-Oxley Act (the Act) in July 2002 in response to widespread calls for stronger measures to prevent and punish corporate fraud. Many observers expected securities class action litigation to rise in response to recent headline-making fraud scandals and the Act. However, little change has occurred in securities class action filings, dispositions and settlements, detailed statistical analysis shows. This article discusses the facts.
Methods for Securing Against Tenant Defaults
Security deposits are an age-old form of security for the performance of the tenant's obligations under a lease. In the simplest of transactions, the tenant deposits a fund with the landlord to be used to protect the landlord against the economic consequences of a tenant's default. The amount of the fund is the product of negotiations and usually involves a multiple of the monthly rent payable under the lease. In more sophisticated commercial transactions with other than the most creditworthy of tenants, the landlord wants the tenant to deposit a substantial sum, perhaps a multiple of the yearly rent payable under the lease, especially if the landlord pays for substantial tenant improvements. <p><i>Part Two of a Two-Part Series</i>
Private Leasing Companies Can't Ignore Sarbanes-Oxley
According to AMR Research, which recently surveyed 60 Fortune 1,000 companies, it is estimated that the Fortune 1,000 will spend $2.5 billion in 2003 alone in costs associated with Sarbanes-Oxley Act compliance. How much more will be spent by smaller public companies and by those in the private-company sector is a mystery, but the total costs - in cash, time, consulting fees, lost opportunities, and human resources - will surely be staggering.
In the Marketplace
Highlights of the latest equipment leasing news from around the country.
Rough Justice or Fair Cop? The Reality of Anti-dilution Provisions
We need protection against dilution if you engage in future down rounds," said venture capitalists 3 years ago, not really believing that they would need to call upon this protection. However, the unexpected and significant decline in valuations for companies over recent years has focused the attention of VCs and VC-backed companies on anti-dilution provisions. In today's investment climate, VCs are not only more selective with their potential investments, but are also demanding more favorable financial and control provisions in term sheets. In particular, protection against downside risk is of much more significant importance.
PR's Return On Investment
What can we make of the fact that the top 25 firms ranked by revenue in the AmLaw 200 have increased their overall presence in the media by around 18%, while firms ranked in the next two quarters (numbers 26 through 75) increased by barely 1%? Below the third quarter, the differences are even starker. Overall, the firms that were ranked 76 to 200 actually engendered fewer media appearances - by upwards of 5% in some instances - in 2002 than in 2001. <br>The easy response is that the larger the firm, the more lawyers and practice groups there are for reporters to call on as sources and commentators; coast-to-coast and abroad. The law of nature is that the rich get richer. It applies to media profile as well.
The Lawyer's Guide to Public Relations
There is definitely an art to becoming the object of the press's affection. If you are lucky enough to have an in-house public relations department, your "luck runneth over." However, for most lawyers whose wish list includes "personal appearances" either via print media or electronic media, it can be a challenging and sometimes frustrating experience. There is hope, and it comes in the form of having a personal public relations/professional development plan. While most business development efforts focus on marketing, public relations can be a key component to one's overall success. Public relations is different than marketing in the sense that it requires a more personal approach to one's professional development plan. It requires an individual to hone a separate set of skills that enables one to speak, be quoted and appear as a spokesperson in a specific area of expertise.
Ask the Coach
This month's question: <br>Many of the lawyers in my firm still resist doing any selling because they see it as "unseemly" for lawyers. How can I help them overcome this crippling bias?