Category: Corporate & Business law

Is it Real or Make Believe?

October 20, 2016  |  Carole Clark Isakson

by Carole Clark Isakson My daughter and I recently enjoyed the weekend Renaissance Festival.We expected to be delighted by the disguises and costumes and this event did not disappoint! The make-believe is fun and often we’re too excited to question – “ who is behind the mask?” Possibly my character, possibly my training, but I’m always curious as to what lies behind the facade, so I asked one particular long-haired-leather-wearing-sword-wielding giant of a man what he did during the week, “I sell car insurance!” he happily told me. Love it, that radical change between real and make-believe is fabulous… in the entertainment industry! However, in the more traditional business settings disguises and make-believe can be dangerous. All kidding aside, this is a question we need to ask ourselves in ANY business setting… with whom am I doing business? Start by asking this question with regards to your suppliers, customers, and business associates. Suppliers may all look excellent at first, as you are greeted with professional marketing pieces and a vibrant website. But who is behind that mask? Before betting some of your company’s success on a supplier, ask some hard questions. What is the company’s financial condition? Has it been sued? Filed for bankruptcy relief? Owe taxes? Many of our attorneys can check…

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Seminar by BGS Attorney Carole Clark Isakson Successful

October 18, 2016  |  Barna, Guzy & Steffen, Ltd.

BGS attorney Carole Clark Isakson continues her long tradition of partnering with Forius NACM North Central to educate trade creditors in the bankruptcy area. Forius NACM North Central, a proud affiliate of the National Association of Credit Management, is dedicated to serving the needs of commercial credit professionals. Why Does Forius work with Carole? Forius President and COO Toni Nuernberg said , “Carole always brings a wealth of information to our members. After her most recent presentation, I asked members for feedback. They said Carole provide relevant information that is easy to understand and somehow manages to make what could be a “boring topic” come to life. Our members love her!” Forius members attended Carole’s seminar on October 11, 2016 at the Forius office in Minneapolis. Topics included: 1. Filing a proof of claim (when, and WHY!). 2. 503(b)(9) claims – the all too frequently missed opportunity to get your claim paid FIRST (which is often the difference between payment and no payment) 3. 546 reclamation rights – getting your widgets back, or at least obtaining an enhanced claim (again, it’s all about getting paid) 4. Critical vendor status – when you can rely on the “don’t worry you’ll be paid we need you” statement from the account manager… and when you CAN’T…

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Employers Take Note: 2016 Employment Law Updates

June 7, 2016  |  Bradley Kletscher

  In 2016 there have been several changes to federal laws which impact employers in the state of Minnesota.  Employers need to be aware of these changes so that they can examine existing policies and practices to determine if changes are needed to address these legal changes. NEW OVERTIME RULES The United States Department of Labor released its final regulations modifying certain regulations related to the Fair Labor Standards Act (FLSA).  The key change to the regulations is the salary requirement for exempt employees.   Effective December 1, 2016, in order to be classified as an employee exempt from overtime pay requirements, an employee must be paid a minimum of $913 per week/$47,476.00 per year.   The new requirement for the highly compensated employee exemption is $134,004 per year.  Exempt employees must also meet the duties test to qualify for exempt status. The impact of this regulatory change is that employers need to revaluate all exempt employees to ensure that they are being paid the minimum salary requirements as of December 1, 2016.  If not, then they will need to change the employee’s classification. NEW TRADE SECRET PROTECTION The new federal “Defend Trade Secrets Act” (DTSA) was passed by Congress and signed into law on May 11, 2016.  The law provides employers with federal protection…

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