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PROFNET EXPERT ALERTS: Commercial Bankruptcy / Cyber Monday / Small Inventors
Tuesday, November 03, 2009 3:59 PM


    1.  Business: What Businesses Need to Know About the CIT Group Bankruptcy
2. Business: Businesses Hurting, Executives Afraid as Money Gets Tighter
3. Business: Business Partnerships Should Prepare for Compensation Reform
4. Careers: What You Can Be Doing Now to Land a Winter Internship
5. Consumer Issues: How to Buy Authentic World Series Memorabilia
6. Finance: Commercial Bankruptcy Filings Continue to Increase
7. Finance: Bank Management/Boards Should Be Ousted if Their Banks Fail
8. Finance: Top Five Spending Pitfalls That Cause Consumers Stress
9. Retail: Savings Strategies for 'Cyber Monday' Holiday Shopping
10. Technology: New Strategy for Small Inventors Seeking Patent Justice

1. BUSINESS: WHAT BUSINESSES NEED TO KNOW ABOUT THE CIT GROUP BANKRUPTCY. JEFFREY SWEENEY, managing partner at US CAPITAL, a financial services firm in San Francisco: "Businesses affected by CIT's bankruptcy filing must act swiftly to ensure that they continue to have the funding they need. If CIT's financial problems preclude them from honoring their financial commitments, the consequences of not moving your loan to a lender that's able to advance money can be devastating to your business. In addition to bankrupt CIT being unable to loan you the money you need, they may still have a lien on your assets, making it difficult to get financing when you try to switch to another lender. It's also very possible that your loan will get sold to an unfriendly loan-to-own or vulture fund that will be more aggressive on your rates and terms. It's not pretty when vulture funds take over your portfolio -- so you'll need to get out as soon as possible. Whether you are dealing with CIT or another institution that is no longer able to provide you financing, the most important thing you can do is be proactive about finding a new lender before they find one for you." Editor's Note: Sweeney has a profile listed in the ProfNet Experts Database. To view the profile, go to http://www.profnet.com and, after logging in, click on "Search Expert." News Contact: Emilia Doerr, emilia@webmarketingtherapy.com Phone: +1-310-709-4620 Web site: http://uscapitalpartners.net (11/3/09)

2. BUSINESS: BUSINESSES ARE HURTING, EXECUTIVES ARE AFRAID AS MONEY GETS TIGHTER. JANICE DiPIETRO, managing partner of the Boston office of TATUM LLC: "This has been a record year of bankruptcies, and raising capital and negotiating with bankers in a community of frightened lenders is certainly challenging. Even so, there are ways for the middle market to raise money." Tatum is an executive services firm designed to augment the office of the CFO by providing interim CFOs, CIOs, financial consulting and more. DiPietro is responsible for developing and managing the firm's practice in Boston and the New England area. She has had extensive experience in managing and developing a professional services organization and is a senior executive with over 25 years of financial and operational experience, servicing startup companies to large multinational companies. This experience spans a spectrum of industries, including technology, manufacturing and service organizations. News Contact: Amy Grossman, APGG40@aol.com (11/3/09)

3. BUSINESS: BUSINESS PARTNERSHIPS SHOULD PREPARE FOR COMPENSATION REFORM. ROGER AKSAMIT, attorney at THOMPSON & KNIGHT: "Business partnerships of all types need to seriously explore their options for incentive compensation and even consider converting to corporate structures, as there appears to be growing support in Washington for increasing tax rates on the 'carried interest' structure that is common to many partnerships, beyond just hedge funds and other money fund arrangements.




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