You just got an “SSN no-match” notice – an employee’s name does not match his or her Social Security number. Now what? Is it grounds for termination? Should you give the employee a deadline for resolving the discrepancy? Should you ask the employee to submit new documents to re-verify his or her employment eligibility?
Continue Reading...Restaurant owners have many motivations for forming joint ventures; a primary one is to finance expansion. These arrangements go by many names, including strategic alliances and corporate partnerships, and they join complementary strengths: a restaurateur may be looking for money sources or an experienced local partner to replicate the restaurant concept in an unfamiliar market or nontraditional venue.
Continue Reading...By Sarah Tune
In an ideal buyer’s world, every potential buyer or bidder in an auction would be able to negotiate a full financing contingency as a closing condition to an acquisition. However, in a competitive bidding scenario or even in a scenario where the seller has considerable leverage in the transaction, a buyer sometimes must forgo the full financing contingency. A buyer may also choose to forgo the full financing contingency if it has room under its existing facilities and would prefer to use its bargaining power elsewhere.
Continue Reading...Due to the popularity of gift cards in restaurants and retailers, federal and state governments have increased their role in regulating gift cards. In this legislative update we’ll focus on “closed-loop” gift cards, those that are issued by a specific store or restaurant and which may only be used at the issuing store or restaurant. (“Open-loop” cards are those that are issued by banks or credit card companies and can be used at different stores or restaurants.)
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