South Florida Business News: Week Ending March 6

March 6th, 2010

By Mark Schecter | No Comments »

newspaperJackson Health Plan would Slash 4,487 Jobs

A sweeping plan to close two satellite hospitals and trim nearly 4,500 jobs would still leave a $64 million budget gap in fiscal 2010 for the Jackson Health System, according to a plan presented Friday by President and CEO Eneida Roldan.

However, it would narrow the gap by $165.4 million.

The plan, which would whack employment in the system by 37 percent, was presented to the system’s Public Health Trust board. It would undo an ill-fated venture that saw the agency in charge of Jackson Memorial Hospital acquire two satellite locations in north and south Miami-Dade County. Rather than making money as envisioned, the satellite hospitals were a further drain on profitability.

Read more here…

South Florida Fla. Hotel Cccupancy Improves

For the week ended Feb. 27, occupancy in Palm Beach County rose to 82.6 percent from 71.1 percent one year prior. Occupancy in Miami-Dade rose to 83.3 percent from 75.1 percent. Broward occupancy rose to 85.5 percent from 82.4, according to the latest statistics from Smith Travel Research.

Occupancy across the U.S. was 55.3 percent, up from 54 percent.

The average daily room rate rose in Miami-Dade County, but dropped in the other two counties.

The average rate in Miami-Dade rose 0.9 percent, to $176.40 from $174.80. Broward’s average rate fell 4.5 percent, to $146.14 from $139.54. In Palm Beach County the average rate fell 8.2 percent, to $178.76 from $164.10.

Read more here…

Florida to Receive $27M in Stimulus for Mass Transit

Florida is in line to receive $27.6 million in federal stimulus dollars to improve its mass transit operations, the U.S. Department of Transportation said Friday.

The grants, part of the $7.5 billion the Federal Transit Administration has awarded since February 2009 under the American Recovery and Reinvestment Act, will fund seven projects in Florida.

The Miami-Dade Transit Agency will receive a little more than $5.2 million to purchase three 30-foot shuttle buses, two 30-foot mini-buses for circulator bus routes, bus shelters and operating assistance.

Read more here…

Tags: ,
Posted in business |

Hire a Lawyer to Negotiate and Prepare Business Contracts

March 4th, 2010

By Mark Schecter | No Comments »

torn-contractWhen you enter into an agreement to exchange goods or services, it is always best to do business with a legally binding contract that unambiguously expresses the terms of the agreement.

Whether you are attempting to purchase commercial real estate or use the services of another business, you should rely on a valid contract that sets forth the intentions and obligations of all parties involved.

What is a Contract?

A contract is a legally binding agreement between two or more parties that’s enforceable by law. In order to be considered valid, every contract in Florida must have 3 essential elements, and they are:

  • An offer
  • Acceptance of an offer
  • Consideration / compensation

Without all 3 of these elements present, a contract is not considered “valid and enforceable.”

Why should you hire a lawyer to prepare and review a legal contract? Why can’t a simple handshake and a verbal agreement suffice?

An ironclad business contract represents the parties’ obligations, compensation, penalties, and other pertinent terms and provisions; and can protect your business interests if or when a breach of contract occurs. Thus, most “big” business deals are sealed with a contract.

The strength of any contract is contingent on the effectiveness of the negotiations process. Having a tenacious business lawyer to negotiate contract terms that express and protect your best interests is the safest way to do business.

Regardless of the nature of your business, doing business with an ironclad business contract can prove to be essential to your company’s success. Now may be a good time to re-evaluate the business contracts you’re relying on.

The business lawyers of Schecter Law specialize in business law and have decades of experience negotiating contract terms, drafting ironclad contracts for small and large businesses, as well as defending and enforcing contract terms.

Tags: , ,
Posted in business |

South Florida Business News: Week Ending February 26

February 26th, 2010

By Mark Schecter | No Comments »

newspaper

Great Florida Bank Wins Foreclosure Lawsuit

The Great Florida Bank based in Miami Lake recently won a foreclosure judgment against the Arden Park, formerly known as Coscan Shefaor, residential project in Hollywood. This 33 acre development was completed by Ventura-based Shefaor Development, and Fort Lauderdale-based Coscan Homes.

The foreclosure judgment was over $33 million in favor of the Great Florida Bank for this delayed project.

Read more…

Business Growth in Palm Beach

According to the Business Development Board of Palm Beach County, approximately 136 jobs will be created by four companies that are either moving or expanding in the area. More than $3 million will be invested as well.

The four companies involved are: The Times Microwave System, GeoGlobal Partners, RoboLabs, and ChemPep. Each company has facilities in the area that will need to hire workers in manufacturing and engineering positions. This is great news for the Florida economy statewide.

Read more…

Orlando Developer Takes Over SoBe Office Building

The SoBe Building is a 62,087 square foot office building located at 1680 Meridian Avenue in South Beach. It was recently purchased by an Orlando-based developer, Real Estate Inverlad Development that has a reputation for their residential projects.

The history on the SoBe building hasn’t been very productive, but there are high hopes that this problematic property will turn around for the better. In 2006, the building was purchased by Meridian Center, LLC. However, a foreclosure lawsuit on one of the company’s properties impacted them negatively.

A $16.7 million mortgage was signed by Key Bank with Meridian in 2007 in order to renovate and convert the construction into condos. Unfortunately, the units did not sell. Meridian recently sold the property to the Real Estate Inverlad Development for $15.8 million.

Read more…

Posted in business |

South Florida Business News: Week Ending February 20

February 20th, 2010

By Mark Schecter | No Comments »

newspaperTauber faces foreclosures in Bay Harbor Islands

The are two foreclosure lawsuits pending against Florida developer Irwin Tauber. These lawsuits, filed by MUNB Loan Holdings, include commercial and multi-family properties in Bay Harbor Islands.

The largest of the two cases against Tauber involves Island Club Towers and Royal Club Towers. In a previously settled case, Tauber signed off on new terms agreeing to repay the amounts owed on the construction liens.

Read more here…

Estate Home in Pinecrest Facing Foreclosure

Jose Boschetti is a co-developer of Stritter Estates, a residential project in Pinecrest. This project is among many properties in that area that are now facing foreclosure. The mortgage in this case is approximately $8 million.

The First Bank of Puerto Rico has filed an action against Boschetti for the Pinecrest property in Miami-Dade County.  This is the third lawsuit filed against him. Aside from First Bank of Puerto Rico, the City National Bank of Florida and Fannie Mae have also filed foreclosure actions against Boschetti.

Read more here…

Is Mortgage Fraud on the Rise?

According to the latest Interthinx’s Mortgage Fraud Risk Report, mortgage fraud is on the rise and more and more people are becoming victims. To many, it seems like everywhere you turn there are con artists looking to take advantage of unsuspecting people.

The report indicates Florida is ranked #4 for mortgage fraud risk. Here’s the order of the top five states with the highest mortgage fraud rates:

  1. California
  2. Nevada
  3. Arizona
  4. Florida
  5. Colorado

Understandably, this is alarming news for first time home buyers, and can undoubtedly contribute negatively to the real estate market. There are steps that should be taken in order to protect yourself from being a victim of these scams.

Read more here…

Tags: ,
Posted in business |

South Florida Business News: Week Ending February 13

February 13th, 2010

By Mark Schecter | No Comments »

City of Hallandale Beach Wins Breach of Contract Case

Arbitrator Lawrence Kellogg, Esq of the American Arbitration Association panel recently ruled that Reuter Recycling of Florida, Inc breached its contract with the City of Hallandale Beach by taking actions which destroyed the essence of the parties’ contract which originally provided that the waste stream generated by four cities would be composted by Reuter to accomplish waste reduction goals.

Damages of $525,000 were awarded to the City of Hallandale Beach. In addition, a counter claim against the City of Hallandale Beach for $2 million was involuntarily dismissed by the Arbitrators at the hearing.

The estimated cost savings to the City as a result of having the remaining term of the solid waste contract terminated is estimated to be more than $1 million.

Read more here…

Lennar Homes files Breach of Contract Lawsuit Against Several

Lennar Homes, a Miami-based homebuilder, filed a breach of contract lawsuit against 5 drywall installers in Lee County, a couple of Chinese drywall manufacturers, and several other companies on January 30, 2010.

Lennar sued eight drywall suppliers for product liability and breach of implied warranty, as well as 12 installers for breach of contract and breach of express and implied warranty.

Contractors J.D.M. Builders, Florida Style Services, Ocean Construction, B&B Stucco and Harrell’s Drywall, whose primary place of business is in Lee County, according to the suit, were among about 20 companies being sued along with Taishan Gypsum Co. and Knauf Gips KG, a German company whose affiliate is Knauf Plasterboard Tianjin Co., a Chinese manufacturer, the suit said.

The lawsuit alleges the Chinese manufacturers were negligent and liable for damages because they produced drywall for a dozen or so homes in Lee County that may have been corroded by air conditioning coals, wiring and other copper fixtures.

Read more here…

Whether you’re a company contemplating filing a breach of contract lawsuit against others or a contractor being sued, the lawyers of Schecter Law may be able to assist you. Contact our law office today to discuss your matter.

Tags: ,
Posted in In the News, breach of contract, business |

Outsource to Contract Lawyer to Deal with Layoffs

February 11th, 2010

By Mark Schecter | No Comments »

If you follow the local and national news, you are aware of the US economy and rising unemployment rate. It’s difficult to ignore the dismal news as the topic is frequently covered in all areas of the media, from morning and afternoon talk shows, to radio and newspaper ads.

As a business owner, you constantly struggle with the thought of cutting back your costs and budget, and the possibility of having to lay off employees and add to the rising unemployment rate. But the fact remains, you are responsible for finding ways to keep your company viable while you deal with the current crisis. That means in many companies, layoffs are inevitable.

While you work hard to cut your budget and control your costs to deal with the business losses you’ve experienced, you may find you’re forced to downsize the number of employees in your company.

With that said, it’s not always simple to determine who will be laid off. While you may be able to fade out certain positions, you’ll find there are others you cannot afford to dissolve.

For instance, it may not be a good idea to completely fade out the legal services your in-house attorney provides to protect your company. In fact, it may be an absolute wrong decision as claims of wrongful termination and other employment disputes tend to increase when layoffs occur.

So, what can you do?

You can outsource to a local contract attorney many of the same legal services an in-house attorney offers. Does this mean you must completely dissolve your company’s legal department? No. But it does mean a contract lawyer can prevent you from having to hire more salaried in-house attorneys and support staff.

Although much of the news we hear focus on the loss of jobs once held by middle Americans, there are other industries that are often overlooked. The legal industry has been hard hit by the economy. It was already heavily saturated and very competitive, and the economy has only exacerbated that reality.

Now, instead of hiring more in-house salaried lawyers, many corporations hire contract attorneys to provide legal services they need. In many instances, a lawyer working on a contract basis has the same (and sometimes more) education and work experience as the typical in-house attorney.

Has your company considered outsourcing to fill in-house attorney positions following layoffs?

http://www.schecterlaw.com/litigationblog/legal-services-local-corporate-attorneys-offer

Tags: , , , , , ,
Posted in Corporate Outsourcing, Outsourcing Trends, South Florida |

South Florida Business News: Week Ending February 6

February 6th, 2010

By Mark Schecter | No Comments »

We are kicking off a weekly “In the News” series in which we will provide you with a brief overview of some of the top on and offline stories affecting South Florida corporations and small businesses.

If there is a topic or story you’d like for us to discuss, please submit the story here.

Biscayne Bank Increases Loans by 13 Percent

Biscayne Bank, a Coconut Grove-based bank, has felt the pain of the current economic state for awhile now, and has endured its share of ups and downs. Some of the bank’s financial problems have been traced back to loans that are tied up in pending foreclosure lawsuits.

In June 2009, Biscayne Bank received more than $6 million in TARP funds. By the end of the year, the bank had increased its loans total from $152.2 million, at the time of receiving the funds, to $171.8 million thereafter. Approximately $280,000 of interest has been paid to the U.S. Treasury department on the TARP money.

The Chairman of Biscayne is hopeful that there will be improvements in the economy as well as the bank’s overall performance in the near future.

Dollar General Stores is Set to Expand

Dollar General Stores is one company that continues to perform very well in spite of the economical down turn. The company recently announced it plans to open 600 stores and create approximately 5,000 jobs throughout 2010. In 2009, the company hired 4,000 employees.

The growth that Dollar General continues to witness is due in large part to the fact that more Americans are becoming frugal and are looking for the most economical way to shop for their families.

According to South Florida Business Journal, Dollar General has more locations than any other retailer in America. In Florida alone there are nearly 450 stores. Current job seekers are excited about the opportunity to work with the company, and considers this a step in the right direction. Hopefully, other companies will follow suit.

Read more about all of these stories at South Florida business journal.

Tags: , , ,
Posted in In the News, South Florida |

Legal Services Local Corporate Attorneys Offer

February 1st, 2010

By Mark Schecter | No Comments »

Corporate outsourcing occurs when a corporation contracts with another individual or entity to provide services or products. For several years, the rate of corporate outsourcing has skyrocketed in technology-related sectors as companies rely on outside contractors to create, build and manage all kinds of technology.

Today, outsourcing continues to evolve and is gaining momentum as corporations increasingly rely on legal outsourcing to back up their overworked and under-staffed legal departments. More corporations are realizing that a local corporate attorney can negotiate and structure many of the same deals and settlements as an in-house attorney, and provide effective legal support at multiple levels.

Despite the obvious popularity, questions remain as to the type of legal work that can be outsourced to a local corporate attorney. Here is a list of some legal services that a corporation can outsource:

1. Legal Document Review. If your company has ever been involved in any type of litigation, then you know the process can require the review of stacks of documents. A local corporate attorney can review your legal documents in order to assess their relevance, and determine what actions (if any) are required in relation to the legal matter.

2. Legal Research. Researching a legal topic can require a significant amount of time to complete and may involve researching various sources of law in multiple jurisdictions to obtain the information you are looking for. It requires a considerable amount of time to thoroughly search multiple databases, law books, and on/offline resources. Legal research is a service that is often outsourced to a local corporate attorney.

3. Contract Negotiations and Drafting. Whether you are offering services or products, you will find that written contracts are essential to doing business. But, all contracts are not created equal. In order to be considered valid, there are essential clauses every Florida contract must have. Corporate attorneys spend a significant amount of time negotiating, drafting and enforcing ironclad legal contracts, and can make sure your contract passes muster and will protect your company.

4. Employment Disputes. Not every employee relationship will end the same way that it started. There will be times disputes will arise and they can get costly. In many instances, these types of disputes could have been prevented if a legally binding contract existed expressing the terms and obligations of all parties. A local contract attorney can prepare binding employment contracts and non-disclosure agreements that will outline the obligations and responsibilities of both the corporation and employee.

While there may be a need for your corporation to employ in-house attorneys, there may be times you can use the help of a local lawyer on a contractual basis. You can outsource the legal servic

es listed above and several other legal services to a local corporate attorney.

Tags: , ,
Posted in Corporate Counsel, Corporate Outsourcing, Outsourcing Trends |

Should you Hire a Business Lawyer?

January 26th, 2010

By Mark Schecter | No Comments »

If you are serious about growing, sustaining and protecting your company, it may be a good idea to consider hiring a business lawyer so you can do business in a more effective and less risky manner.  Without a valid contract, the parties are left disputing verbal agreements and unknown intentions.

Whether your company is involved in the exchange of goods or is service-based, it is built on relationships, agreements and contracts you’ve entered into with others. In some cases, the growth and sustainability of a company is contingent on the terms and validity of said agreements.

Benefits of Hiring a Business Lawyer

When you do business with valid contracts, you reduce the likelihood of having to engage in nasty legal disputes. The less your company spends on initiating or defending contracts, the more you will save on your legal expenses.

Business lawyers are equipped with the legal knowledge and expertise that is required to review, interpret and enforce an existing contract, or create a legally binding agreement that clearly expresses the intent of all parties.

On a daily basis, your business lawyer can handle much more than business contracts. He/she can also make sure your company remains in compliance with the law, and provide other legal services that are essential to the operation of your business.

3 Factors to Consider before you Hire a Business Lawyer

An effective business lawyer can provide legal support throughout all phases of your business; from the initial start-up phase to the resolution of litigation matters. Here are a couple of factors to consider when choosing a lawyer:

1.    Length and Type of Experience

Before you hire a lawyer, there are a couple of steps you should take. First, you should evaluate the lawyer’s experience. Inquire about the length of time they have been practicing law, and also determine if they have experience practicing business law. Have they represented companies similar to yours? Do they provide the legal services you need?

If you are in an industry where legal disputes and lawsuits are common, you may want to consider hiring a tenacious lawyer that specializes in litigation. If you are in the beginning stages of your business, you may benefit from the help of a business start-up and organization lawyer.

2.    Communication Skills

The most effective lawyers are great communicators. And in many instances, you can assess a lawyer’s communication skills from the initial point of contact, before you retain their services. While you’re in search of a business lawyer, it is important that you observe his/her behavior during the pre and post consultation stages. Does the lawyer return your telephone calls and respond to your emails in a timely manner? Did he/she follow up with you after the consultation?

3.    State Bar Association and Peer Reviews

Every state has a local bar association that monitors the lawyers practicing law within the state.
You can contact the bar to inquire about complaints and disciplinary actions involving the lawyer.

It is also a good idea to review what peers are saying about him/her before you decide to retain their services. There are websites like Martindale-Hubbell and Lawyers.com that provide peer review ratings for lawyers throughout the US. Take a moment to review what others are saying before you decide which lawyer is the best fit for your business.

Tags: , , ,
Posted in business |

Will Florida Unemployment Tax Increase affect Small Business?

January 21st, 2010

By Mark Schecter | No Comments »

man-job-adsFlorida businesses in all industries have sustained a few significant blows in this economy. The commercial and resident housing markets have been hard hit by lending freezes and plummeting property values, while large and small companies have been forced to layoff and halt hiring.

Today, Florida’s unemployment rate sits at 11.5%, and that’s after reaching a 34 year high of 11.2% in October 2009.

As Florida businesses fight to remain viable they are expecting another substantial blow as the unemployment tax rate has increased, and may result in additional job cuts.

Why is the Unemployment Tax Rate Increasing?

Many Florida businesses are baffled by the recent rate increase and are left wondering why a state, riddled by a high unemployment rate, would impose a substantial tax hike that will likely result in more job losses.

The rate increase can be attributed to recent depletion of Florida’s Unemployment Trust Fund. The fund is set to increase automatically when the state’s unemployment rate reaches a certain level. And, when the rate exceeded 11% in October, the tax increase was triggered in hopes of replenishing the trust fund.

What will the Tax Increase Cost Florida Businesses?

The rate increase, which went into effect on January 1, may be felt by some business owners as early as April 2010, when a portion of their taxes will be due. Under the new tax rate, employers can expect to be taxed on the first $8500 of their employees’ earnings, an increase from $7000 last year.

According to David Daniel of the Florida Chamber of Commerce, the rate change will cost employers an additional $1.2 billion in 2010.

Various factors play a role in determining the exact percentage a business will be taxed, including the amount of unemployment claims filed against the employer by former employees, as well as the number of years the company has been in business.

Opponents of the tax increase are asking elected officials to freeze the tax hike for now, and reconsider it at a time when the economy makes it more feasible for business owners.

“The Florida Chamber is asking the Legislature to set the taxable wage back to $7,000 and to suspend the trigger to increase the unemployment tax rate — and is asking it to act quickly.”

To date, Florida Department of Revenue is moving forward with the tax increase, and can expect to collect substantially more tax revenue from businesses in 2010.

Are you a Florida business owner concerned about how the tax increase will affect your business? Do you plan to adjust your business for the increase?

Tags: , ,
Posted in business |

« Older Entries