Manhattan Bankruptcy Law Blog

Some central considerations linked with closely-held businesses

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Closely Held Businesses on Friday, January 11, 2019.

American businesses are many and diverse, with their creation in any given case being driven by expectations that a select commercial form will yield distinct and optimal advantages. The United States is home to legions of mammoth corporations that are global in their dimensions, but it also supports millions of small businesses designated as sole proprietorships. In between are many and varied partnerships and limited liability companies.

And those business types hardly exhaust the possibilities. We spotlight in today’s blog post closely-held businesses, which comprise yet another commercial entity form.

Should small business owners have a New Year’s Resolution?

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP on Thursday, January 10, 2019.

New Year’s resolutions are not just for your personal life. Business owners can benefit from resolutions, too--even after the new year has started. What goals do you have for your business in 2019? What changes can you make to how you run your business to help you achieve those goals? Answering these questions may help you find a resolution you can stick to and achieve in the new year.

As a business owner, you should consider creating a specific plan of action to help you achieve your goals this year, whether you have one or several goals in place. An effective and enforceable plan is necessary to help your business run smoothly. Here are some things to consider when creating your plan this year to protect your business and your goals:

New York officials laud results of lending to small businesses

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, January 4, 2019.

New York Gov. Andrew Cuomo would likely welcome participation in a select debate. And he would forcefully argue in that venue that tight-fisted government lending to businesses is less a fiscally responsible and safeguarding measure for taxpayers than it is a short-sighted and materially harmful strategy.

And the reasons why seem eminently clear for any proponent of state lending to small businesses seeking capital for expansion and growth opportunities.

New York City a magnet for tech-linked business expansion

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, December 28, 2018.

Google follows Amazon.

And that is just the latest development linked with an enduring reality that New York City is unparalleled as a metro center optimally placed to attract and secure top-level tech-industry talent. It didn’t take long for the front-page news surrounding Amazon’s upcoming massive expansion in Queens to be supplanted by new entries spotlighting Google’s new NYC campus.

Business vagaries spell opportunity as well as challenge

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, December 21, 2018.

Up and down. Wax and wane. Advance and retreat.

Those and many other contrasting descriptors can be easily employed to chronicle the state of the American economy over time. Some periods are boom, others are bust. And they often seem to follow each other in near lock-step over both short-term and longer periods.

Some key considerations regarding partnership disputes

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, December 14, 2018.

Proactivity.

In a word, that is what it is all about when it comes to anticipating, avoiding and smartly responding to partnership disputes that can arise in a New York business.

What to know about breach of contract

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP on Sunday, December 9, 2018.

A breach of contract is a serious issue that can be detrimental to your business. Business owners in New York should understand the basic concepts of what constitutes a breach of contract and what remedies are available if a breach happens.

Is New York’s bureaucracy doing enough for small businesses?

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Saturday, December 8, 2018.

No.

Without mincing words, that is the short and definitive answer delivered by a subject-matter insider to the above-posed blog headline query.

Turning that entrepreneurial dream into reality in NYC

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in Business Formation & Planning on Friday, November 30, 2018.

When it comes to a spotlighting of New York City as a potential locale for smart and energetic entrepreneurs to launch new businesses, there is obviously a lot to say.

And most inside commentators don't mince words in communicating a few central messages.

The wedding’s still on: Chapter 11 retailer tells brides not to worry

On behalf of Howard Magaliff of Rich Michaelson Magaliff, LLP posted in business & commercial bankruptcy on Friday, November 23, 2018.

If you’ve never been remotely involved with a wedding in any capacity in New York or elsewhere, there’s a chance that David’s Bridal won’t assume much – if any – significance for you.

If, conversely, your connection to that special day rings close and dear (let’s just say that you are a bride-to-be, for example), that company might well be exceptionally meaningful to you. David’s is an iconic company, being the country’s largest wedding retailer. Reportedly, more than 30% of all women with scheduled wedding dates buy their dresses from David’s. The company has an estimated sales revenue of about $800 million annually.

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