Category: Corporate & Business law
Why we all need an “IDIOT!” light
December 5, 2016 | Carole Clark IsaksonMy first car was a canary yellow 1964 Corvair coupe. I could tell stories about that car for hours! Learned a lot too – one my strongest memories is of my father’s description of a dash feature. “This,” he said nicely, “is commonly called the ‘idiot light’. If it goes on you need to pull over immediately, shut off the engine, go find a phone and call me!” That light is a warning that things are on the verge of going badly. IF you paid attention, he said, there was still time to save the day (and the engine block) by pulling over and calling for help. What (or who) is your “idiot” light? We all need one! For some of us, it’s a spouse or other family member with enough distance from a situation to see that things are headed in the wrong direction. Your accountant and financial advisor may play this role as well, warning you when an investment isn’t performing, the 529 is underfunded, or the 401k is weighted too heavily in one fund. As parents we try to be the ‘idiot light’ for our kids. As attorneys we are sometimes in this position as well, a role that we take very seriously. I have been counseling business owners for…
Read MoreBGS and the Canada-Minnesota Business Council
November 10, 2016 | Barna, Guzy & Steffen, Ltd.Barna Guzy & Steffen is a member of the Canada-Minnesota Business Council (CMBC), a Minnesota-based volunteer organization established in 1994 to support the commercial, economic, and cultural relationship between Minnesota and Canada. BGS attorney Carole Isakson recently attended an event hosted by the CMBC, featuring an intelligent and insightful presentation by global investment research firm TIS Group Inc. CMBC works closely with the office of the Consulate General of Canada in Minnesota, and at the event Ms. Isakson was pleased to meet and converse with Canadian Consul General Khawar Nasim. The Minneapolis office of the Consul General covers Minnesota, Iowa, Nebraska, North Dakota and South Dakota. According to the CMBC, trade between Minnesota and Canada now exceeds $20 billion dollars annually, with Canada representing Minnesota’s largest trading partner in the world. The CMBC’s ongoing mandate is support for education, policy advocacy, and business networking within the growing community of private and public stakeholders involved in this critical business partnership. BGS is proud to be a member of the CMBC, and looks forward to becoming more involved with this valuable organization.
Read MoreIs it Real or Make Believe?
October 20, 2016 | Carole Clark Isaksonby 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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