About Stinson Morrison Hecker LLP
Stinson Morrison Hecker LLP is one of the country’s largest law firms with more than 360 attorneys representing clients nationwide in a full range of corporate, transaction and litigation matters. With attorneys in eight offices throughout five states, the firm has experience in more than 45 industry-focused areas. Office locations include Kansas City, St. Louis and Jefferson City, Mo.; Overland Park and Wichita, Kan.; Phoenix, Ariz.; Omaha, Neb.; and Washington, D.C.

Penny Slicer is a registered patent attorney with Stinson and serves as  general IP counsel to a wide range of companies in the Midwest advising on all aspects of intellectual property issues.  Her practice encompasses a broad range of chemical, biochemical, mechanical and software inventions including pharmaceuticals and veterinary products, water treatments, industrial processes, coatings, surfactants, office products, sporting goods and web based business methods.

Slicer received her juris doctorate from the University of Missouri- Kansas City and her Bachelors degree from School of the Ozarks cum laude. 

About Stinson Morrison Hecker LLP
Stinson Morrison Hecker LLP is one of the country’s largest law firms with more than 360 attorneys representing clients nationwide in a full range of corporate, transaction and litigation matters.  With attorneys in nine offices throughout five states, the firm had experience in more than 45 industry-focused areas.  Office locations include Kansas City, St. Louis and Jefferson City, Mo.; Overland Park and Wichita, Kan.; Omaha, Neb.; Phoenix, Ariz.; and Washington, D.C. For more information, visit them online at stinson.com.

Gilley earned a juris doctorate degree from the University of Missouri-Kansas City in 2004 and a bachelors degree magna cum laude from Arizona State University in 2000. In 2008 Gilley received LL.M. in Taxation from Northwestern University School of Law.

About Stinson Morrison Hecker LLP
Stinson Morrison Hecker LLP is one of the country’s largest law firms with more than 360 attorneys representing clients nationwide in a full range of corporate, transaction and litigation matters. With attorneys in eight offices throughout five states, the firm has experience in more than 45 industry-focused areas. Office locations include Phoenix, Ariz.; Kansas City, St. Louis and Jefferson City, Mo.; Overland Park and Wichita, Kan.; Omaha, Neb.; and Washington, D.C. For more information, visit them online at www.stinson.com.

Kansas City
 
Todor Ozegovic joins the firm as an associate in the Intellectual Property & Technology Division.  A registered patent attorney, he has experience drafting and filing patent applications, advising clients on patent prosecution strategies and conducting prior art searches and analyzing the patentability aspects of inventions.  Ozegovic received his juris doctorate and intellectual property certificate from Chicago-Kent College of Law, Illinois Institute of Technology in 2007.  He received his bachelors in computer science from Northeastern Illinois University in 2004. 

Thomas A. Simpson joins the firm as an associate in the Financial Services Division.  His practice focuses on bank mergers and acquisitions, regulation, compliance, commercial lending and payment systems.  Prior to joining the firm, Thomas was a law clerk to the Honorable Ed Carnes of the United States Court of Appeals for the Eleventh Circuit.  Simpson received his juris doctorate from the University of Alabama in 2006 and his bachelor’s degree in political science from Brigham Young University in 2003.

Misty Cooper Watt joins the firm as an associate in the Business Litigation Division.  She received her juris doctorate from the University of Tulsa in 2007.  Watt earned her masters degree in rhetoric/speech communication in 2004 and a bachelor’s degree in rhetoric communication in 2002 from Kansas State University.

Megan Welch joins the firm as an associate in the Business Litigation Division.  She received her juris doctorate in 2007 and her bachelor’s degree in English teaching in 2005 from Brigham Young University.  During law school, Welch externed for the Honorable Lloyd D. George of the United States District Court for the District of Las Vegas, as well as for the Honorable Kay A Lindsay of Utah’s Fourth District Juvenile Court.

Wichita

Megan E. Garrett joins the Wichita office as an Associate in the Business Litigation Division.  During law school, Megan externed for Associate Chief Justice Wilkins of the Supreme Court of Utah.  Garrett earned a juris doctorate magna cum laude from Brigham Young University in 2007 and a bachelor’s degree summa cum laude from the University of Utah in 2004

About Stinson Morrison Hecker LLP
Stinson Morrison Hecker LLP is one of the country’s largest law firms with more than 360 attorneys representing clients nationwide in a full range of corporate, transaction and litigation matters. With attorneys in eight offices throughout five states, the firm has experience in more than 45 industry-focused areas. Office locations include Phoenix, Ariz.; Kansas City, St. Louis and Jefferson City, Mo.; Overland Park and Wichita, Kan.; Omaha, Neb.; and Washington, D.C. For more information, visit them online at www.stinson.com.

• Basic Lifetime Giving Techniques
  
• Irrevocable Life Insurance Trusts
  
• Grantor Retained Annuity Trusts
  
• Sale of Assets to a "Defective" Grantor Trust
  
• Limited Partnerships and LLCs

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1. Conserve Cash - Cut Costs.

   This may seem obvious, but doing it right can be difficult. Reducing expenditures requires rethinking every aspect of your business. In a down market, the goal is for the business to survive long enough to weather the down cycle, and prepare to seize opportunities as soon as conditions improve. The rule of thumb is that you need to be able to operate twice as long on half the cash. Reduce overhead operating expense every place you can. Common expenses that can be cut include:
   
   

   • Staff:

     Most businesses can operate just as effectively, and perhaps more so, with far fewer people. Experts can usually reduce payrolls by about half within sixty days without harming the core business. Work toward an efficient skeleton team. Take care to comply with WARN Act requirements and other state and federal employment laws, but eliminate dead weight.
     
     

   • Office Space:

     Are you using all the space you have, or could you operate out of smaller facilities? Renegotiating your lease, subleasing unneeded space, or selling the building can allow you to cut costs or bring in more cash.
     
     

   • Outsourcing/Insourcing:

     Analyze whether the services your business needs can be done most efficiently in-house or by third parties. For example, would it be less expensive to hire an accounting firm than to maintain a staff of accountants?
     
     

   • Non-critical Expenses:

     That lawsuit that you once thought was very important is probably not critical to everyday operations. Neither is marketing or advertising in a down market. Reducing or eliminating these expenses can free up cash to sustain core activities.
   
   

2. Protect Against Personal Liability – Keep Personal Assets Separate.

   Desperation often leads principals to decide to increase their own personal exposure rather than permit the business to fail. This is a terrible mistake that often takes the individual down with the company. Particular errors to avoid:
   
   

   • Pay the payroll taxes.

     This is a must. You are better off missing the payroll than not paying the taxes. The payroll tax liability is often viewed by employers as the “bank of last resort.” The problem is that you can never, ever, escape the resulting personal tax liability.
     
     

   • Do not guarantee trade debt.

     If your business cannot pay its vendors, and they threaten suit, let them sue the business. Do not agree to sign personally. Collection lawsuits take time. Use the time to solve the business’ problems. If the business still cannot pay by the time the vendors obtain judgment, then the business was likely doomed anyway. Do not expose your personal assets to business liabilities.
     
     

   • Reconsider existing debt.

     Carefully consider any changes to your existing liability to the bank or lender. If a lender is asking you to increase your personal exposure, ask yourself what you are getting in return. Keep in mind that the current downturn is expected to last another two years. If the business cannot survive that long then a temporary extension won’t help.
     
     

   • Do not use your retirement assets to pay company debt.

     Many of your retirement assets have legal protection from creditors already. If you have to consider a personal bankruptcy filing, these assets are generally exempt and you would often be able to keep them despite the bankruptcy. Do not use protected money to pay company debt.
     
     

   • Do not cross collateralize.

     If you have more than one business or entity with assets, your lender may ask you to “cross collateralize” or pledge assets from one entity to protect a loan to another entity. Remember, the assets were set up in separate entities for a reason—to protect them if one of the entities failed. Cross collateralizing destroys this protection.
   
   

3. Communicate with Lienholders – If You Don’t Ask, You Won’t Receive.

   Lienholders will sometimes work with you. Today’s market is an interesting place. Most lenders are willing to work jointly with borrowers to resolve loan problems. Lenders really do not want to own your project or property. In general, they would rather try to jointly market the assets than foreclose on them.
   
   Operating businesses present a unique problem. Almost always, the whole business is worth more than the sum of its parts, so foreclosing on an asset that shuts the business down deprives everyone of the value of the business. The issue is trust. Does your lender have confidence in you? If so, they will almost always work with you. If not, they may still be willing to work with the business, but they will likely ask you to turn over operations to an operator they do trust.
   
   

4. Asset Sales in Bankruptcy - Watch for Bargains.

   In Chapter 7 bankruptcy cases, an appointed trustee, who is not related to the bankrupt company, arranges to sell all assets that have any apparent equity and distribute the net proceeds to the company’s creditors. Even if the case is a Chapter 11 reorganization, the debtor frequently has to sell assets as it tries to reorganize. Most bankruptcy cases are simply a forum to sell assets. Watch the papers and trade publications in your area. Most sales of any size are advertised. The word “bankruptcy” is almost always prominent. Some particular pointers:
   
   

   • Private Sales.

     Usually, bankruptcy sales are conducted as auctions (often with the bankruptcy judge acting as auctioneer), but not always. If there is a particular asset or piece of equipment that you are interested in purchasing do not hesitate to make an offer. Even if the Trustee does not accept your first offer, negotiations have begun. Haggling is normal. Remember that, even if there is no auction, the Trustee will need a Court order authorizing him to sell assets.
     
     

   • Bankruptcy Trustees.

     You can get a list of the local trustees and ask to be put on their mailing lists for any future sales. Trustees are interested in the best combination of price and terms. If you are aware of a bankruptcy case that has assets, and you are interested in buying, call the trustee directly. Always keep in mind that it is all about the money. If you are calling the Trustee about a significant asset that you have spent some money investigating, consider building into your offer a “break up fee” or cost reimbursement provision to cover your expenses in case you are not the winning bidder. (The trustee might refuse, but there is no harm in asking.) Some, but not all, trustees are lawyers. However, you do not need a lawyer to do a simple asset purchase in most bankruptcy cases.
     
     

   • Show Up and Bring Your Money.

     Whether a sale is advertised as an auction or is a Court hearing to approve a deal you’ve reached with the Trustee, if you want to be the successful bidder, you should show up. Many times the sales are not well attended; sometimes they are attended by surprise bidders. Even when a sale is conducted in the court the judge will almost always ask if there are any other interested parties in the courtroom who want to bid, since the judge’s primary interest is to increase the cash in the bankruptcy estate. As a buyer, so long as you have authority to act for your company or enterprise, and the court is satisfied, you can bid without a lawyer. There may be time limits on closing the purchase or other conditions, but the court or trustee will explain these and ask if you or your company agree to the deadlines.

Conclusion

• Deposits within the FDIC's insurance limits are safe regardless of the bank's financial condition.
  
  
• The FDIC's guarantee is ironclad. It has fully paid all insured deposits since its creation in 1933.
  
  
• Deposit accounts protected by the FDIC include checking accounts, savings accounts, money market deposit accounts, and certificates of deposit (CD’s).
  
  
• Non-deposit products, such as stocks, bonds, and mutual funds, are not protected by FDIC insurance.
  
  
• The FDIC’s basic insurance coverage is $100,000 per depositor, per institution. However, individuals may qualify for more than $100,000 of coverage at one insured bank if they own deposit accounts in different "ownership categories," such as single accounts, joint accounts, certain retirement accounts, and trust accounts. Individual Retirement Accounts (IRAs) are insured for $250,000. By holding accounts in different ownership categories, the maximum FDIC insurance coverage that a married couple could qualify for at one institution is $900,000.
  
  
• Consumers wishing to estimate their deposit insurance coverage can access the FDIC's Electronic Deposit Insurance Estimator by clicking here. A version for bankers is available here.
  
  
• When a bank fails, the FDIC provides quick access to insured funds, usually on the first business day after the failure. It is also possible to recover money over the FDIC's insurance limits, depending upon how much the FDIC recovers by selling the bank's assets.
  
  

1. Only waivers for liability for services rendered between July 1, 2008, and the date of implementation of the increased payment rate by the relevant carrier or intermediary, will be protected.
   
   
2. Only waivers that apply to the incremental portion of the cost-share amount that results solely from the retroactive increase are protected (the MIPAA Difference). Waivers of any other cost-sharing amounts are not covered by the Policy.
   
   
3. Any such waiver cannot be conditioned, in any manner, upon future services or supplies.
   
   

• Providence to revise its policies and procedures regarding technical and physical security (for example, encryption) and offsite transport and storage of e PHI;
  
  
• Training workplace members on information safeguards;
  
  
• Conducting self-monitoring audits and site visits of facilities;
  
  
• Submitting compliance reports to HHS for a period of three years; and
  
  
• Attestation signed by the Providence Chief Information Security Officer as part of the implementation report and annual reports.
  
  

• Sen. Gary Nodler, Republican from Joplin, Chairman: Sen. Nodler is also the Chair of the Senate Appropriations Committee which oversees the budget for all state programs including MHD
  
  
• Sen. Rob Mayer, Republican from Dexter: Sen. Mayer is a member of the Senate Appropriations Committee
  
  
• Sen. Jason Crowell, Republican from Cape Girardeau
  
  
• Sen. Joan Bray, Democrat from St. Louis County: Sen. Bray is also a member of the Senate Appropriations Committee
  
  
• Sen. Wes Shoemyer, Democrat from Clarence