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Kids say the darndest things. Do you remember that old comedy series? The one hosted by comedian Bill Cosby in the late 90s? Bill Cosby would ask a few children – usually between the ages of 3 and 8 – several innocent questions throughout the course of the hour-long program. The…

Good news from the Office of the Comptroller of the Currency – Mortgage foreclosures are way down, about 48% from a year ago, and mortgage defaults are declining as well. You can see the full report here   This is a good sign for our economy. It is also a good sign for private investorsContinue reading “Real Estate update: Mortgage Performance Continues to Improve”

Great news for Small Non-profits – the Federal Government is making it easier, more cost-effectively and potentially quicker to gain 501(c)(3) Exemption.   The IRS just came out with its IRS 1023-EZ form, you can see the instructions by going to the follow link Some of the highlights:   1. Only 501(c)3s are eligible.  Continue reading “Businesses: Certain Non-Profits Now Have Easier Time Applying for Federal Tax Exemption”

Happy Monday!   On July 15th the Michigan Supreme Court came out with its much anticipated (at least in the legal community) decision in Madugula v Taub, dealing with the Michigan shareholder oppression statute.   This decision was much needed to clarify some vague areas in the statute, including:   Is a shareholder entitled toContinue reading “Business Law Update: Michigan Supreme Court’s July 15, 2014 Shareholder Oppression Decision”

As a lawyer, I am always interested in legislation – what new laws are enacted, and what laws are being proposed.  Just check out my last blog post about a new proposed bill affecting business   Lobbyists certainly play a role in legislation. But what do they do?   In a nut shell, lobbyists areContinue reading “Can Lobbyists be Trusted?”

  A Michigan Bill proposes amending the Michigan Antitrust Reform Act to narrow the scope of when covenants not-to-compete are enforceable in Michigan. You can look at the June 12th proposed amendment, here   The Narrowing of  the Covenants Not-t0-Compete (CNC) will do as follows: 1. Make CNC unenforceable if the employee is terminated (CNC wouldContinue reading “Business Law Update: Proposed Michigan Bill To Limit Non-Competition Covenants.”

I just read an interesting article on the ABAJournal about the co-founder of “Buckyballs”   Evidently this product has caused serious harm to children and not only has the product been recalled, but personal liability has been assessed to a co-founder.   That is a big deal!   The ABA Journal reports the story here:  Continue reading “Dreaded Words for Business Owners: “Personally Liable”.”

Court cases and local headlines have a way of grabbing our attention – they also provide useful lessons. I had a builder client come to me recently about concerns with their construction contract. The owner that my builder was beginning a job for had a question about the indemnity provision in the contract (which IContinue reading “Great Lessons for Real Estate Professionals From Unfortunate Local Construction News and Recent Case Law”

“You will be hearing from my Lawyer!”   Many a lawsuit begins with those parting words.   I will occasionally get a call from a business client who is a little fired up (if you’re reading this and you are a business client of mine, I’m definitely not talking about you :)). Maybe he or sheContinue reading “Michigan Businesses: Before Jumping Into a Lawsuit Consider Kesler Assoc. Inc v Wellman Plastics Recycling, LLC”