How to fix a typo or grammatical error in a contract
Everyone makes mistakes, including lawyers and businesspeople drafting contracts. Usually, a simple typographical or grammatical mistake will not change the meaning of the agreement in a significant way — but what if it does? “While Illinois courts protect the sanctity of the written word, they also recognize that people make mistakes, and they are willing […]
The who, when, why and how of machinery and equipment appraisals
Executives often wonder why they need to have machinery and equipment appraised, but these appraisals are important components of business today. “Typically, appraisals are performed because of buy/sell agreements, mergers and acquisitions, business valuations, partnership dissolutions, insurance, bankruptcy, property taxes, financing and Small Business Administration lending. Other reasons would be divorce, estate planning or other […]
How companies are developing strategies to meet the PPACA mandate
Businesses with many variable-hour and part-time employees are developing new strategies to address the employer mandate in the Patient Protection and Affordable Care Act (PPACA). Although implementation of the mandate has been delayed until 2015, companies continue to work on ways to avoid penalties when enforcement kicks in, says Daniel Meracle, a partner at Benefitdecisions, […]
How to respond when asked to sign a business associate agreement
The U.S. Department of Health and Human Services (HHS) released a final Omnibus Rule this year creating higher standards concerning protected health information (PHI) under the Health Insurance Portability and Accountability Act (HIPAA). As a result, hospitals and other health care providers are asking businesses working with them to sign business associate agreements, even in […]
How Rick Bennet and CCA Global Partners overcame a tough housing market to expand the company’s reach in home improvement
With more than 2,700 locations and 800 independent retailers, Rick Bennet oversees a cooperative that has significant strength in numbers. In fact, CCA Global Partners Inc. has more purchasing power in its floor covering business than Home Depot. Founded by two independent retailers in the floor covering business in 1984, Howard Brodsky and Alan Greenberg, […]
Bill Byham and Development Dimensions International have no lack of good ideas for the R&D process
Bill Byham holds a doctorate in industrial/organizational psychology — but that’s not the only way to define him. While he is not only considered an expert in the scientific study of employees, workplaces and organizations, he was one of the first in the world to use a groundbreaking hiring technique called assessment centers. Some 35 […]
Managing this, that and the other thing
A 2010 global survey of more than 1,500 CEOs conducted by IBM revealed that 60 percent of top executives face an increased amount of complexity in their business. Seventy-nine percent of them expect an even greater level of complexity over the next five years and only 49 percent of them estimate that they will be […]
How to expand your business through an SBA loan
You need operating cash to grow your business, but securing a traditional commercial loan isn’t always easy for small and midsize business owners. Fortunately, Small Business Administration (SBA) loans are a worthwhile financing option. An SBA loan typically offers longer terms, more competitive interest rates and, best of all, bankers can be more lenient because […]
How Kailesh Karavadra is focusing on culture and talent to deliver outstanding results at EY San Jose
Kailesh Karavadra didn’t always want to be an accountant. In school he studied electronic engineering and later decided he wanted to try his hand at accounting. He fell in love with the profession and first joined EY in the U.K. A few years later, the $24 billion accounting firm asked Karavadra if he’d be interested […]
Former franchisee turned franchisor Wan Kim reinvigorates Smoothie King as CEO
Imagine it’s a hot day. You’re thirsty and hungry, but don’t want anything unhealthy. There aren’t many options available to meet all those needs. In the early ’70s, the concept of the smoothie was born out of this unmet need. Opened in 1973, Smoothie King Franchises Inc. was the original smoothie brand. In 2001, Wan […]