Monthly Archives: March 2009
Letters of Credit: An Alternative Form of Security
A landlord or bank seeking payment of obligations owed to it may well want to consider a letter of credit (“LOC”). An LOC is a financing “facility” where a bank is paid a fixed amount of money by the customer or a tenant, in return for… Continue reading
The Queen’s English – The End is Near!
They have always been something of an affront, those signs that say: “Penns Landing”, “Mens Room” or “Citizens Bank”. A sign maker, perhaps unconsciously, has neglected in each case to put the apostrophe before the “s”. We have to wonder whether the person who left… Continue reading
Beef Up Your Security!
Let us begin by saying that this article does not deal with posting armed guards outside your business or putting bars on your windows and chains on your front door. Instead we will be discussing the benefits of improving your security for customer indebtedness. Whether… Continue reading
The Up-Side of Down Times
Most of the victims of the Great Depression of the 1930’s have been many years in retirement. For the rest of us who are trying to manage our finances to stay afloat, these are times unlike anything we have known. Out of the economic chaos… Continue reading
Avoiding Layoffs
One of the obvious effects of the economic downturn has been a steady drumbeat of job losses across many sectors of the economy. An interesting trend which appears unprecedented in prior down turns is, however, emerging: many companies, with the approval of the work force,… Continue reading
Congratulations Junior!
The Firm is pleased to announce that J. Kenneth Butera, son of H. Kenneth Butera, has become a shareholder in the Firm, effective January 1, 2009. Known variously as “young Kenny”, “little Kenny” (even though he is taller), “Ken, Jr.” (even though he is not… Continue reading
A Clear Mandate to DUI Suspects: Cooperate!
A driver who has been detained by the police on the suspicion of operating under the influence (“DUI”) of alcohol or drugs must submit to a chemical test under the Implied Consent provisions of the Pennsylvania Vehicle Code. Refusal to do so, of itself, will result… Continue reading
A New Mortgage Lender Law (Oh Yes, There Will be a Day!)
The financial chaos which is afflicting us will one day pass. There are so many measures being taken to bolster the economy in general and the housing industry in particular, that it is inevitable that circumstances can only improve (don’t ask when!); and buyers will… Continue reading
Protection for Cash Deposits
As we goes to press, there have been 21 bank failures recognized by the FDIC in calendar year 2008. That is hardly a huge number given the number of U.S. banks in operation. However, it is worth noting that at least one source states that… Continue reading
Low Interest Loans, No Interest Loans, Taxes and Other Consequences
We frequently are approached by clients regarding plans to loan money under very favorable terms. Sometimes these loans are to family members, other times they are made by charitably minded “lenders” to a cherished charity or cause, and sometimes these loans are simply made… Continue reading