Good Company Summer 2009 e-Newsletter

Featured Articles
Not Money in the Bank: Why Investment Accounts Held by a Broker Are Not Insured Like Bank Deposits
by David W. Allen

David W. Allen, Esquire The market downturn has brought with it failures of once-prominent brokerage firms, and raised investor concerns about whether and to what extent their accounts are protected. Above all, investors should understand that their assets are not protected in the same way as bank deposits are by the FDIC. The Securities Investor Protection Corporation (SIPC) protects investor accounts if a brokerage firm becomes insolvent, or engages in unauthorized trading. But those protections are subject to important limits that narrow the scope of coverage. This article discusses those limits, and describes the typical proceedings of an SIPC liquidation of a broker-dealer. [Contact Author]
[FULL STORY]
 
HIPAA Gets a Stimulus: Major Changes to Privacy and Security Rules
by Priscilla E. Kimball

Priscilla E. Kimball, Esquire The American Recovery and Reinvestment Act of 2009, informally known as the “Stimulus Bill”, has brought dramatic changes to the HIPAA Privacy and Security Rules. Covered entities, such as health care providers, employer sponsored health plans and insurers, and business associates are significantly affected, and even vendors of personal health records will feel the impact. [Contact Author]
[FULL STORY]
 
Strings? Why Yes, There are Some Strings Attached.
Compensation Restrictions Tightened at Federally-Assisted Financial Institutions
by Michael J. Drooff

Michael J. Drooff, Esquire As part of passing the American Recovery and Reinvestment Act of 2009 (“ARRA”), commonly known as the Stimulus Bill, Congress substantially tightened the restrictions on executive compensation which apply to financial institutions receiving capital infusions from the U.S. Treasury Department. The new restrictions have seriously affected compensation programs at financial institutions while Treasury investments in them remain outstanding, prompting many such institutions to consider early repayment of their Treasury investments. The new restrictions also signal Congress’ intent to impose new restrictions on executive compensation across the board, not just within the financial sector. [Contact Author]
[FULL STORY]
 
What Employers and Others Need to Know about New Hampshire's New Gay Marriage Law
by Bradford E. Cook and Jacob Hale Russell

Bradford E. Cook, Esquire

New Hampshire will become the sixth state to allow same-sex marriages, effective the first day of 2010. The legislation’s principal legal effect is a name change - it uses the word "marriage" instead of "civil unions," which have existed in New Hampshire since January 1, 2008. The institution of civil unions will cease to exist in 2011, at which point all remaining civil unions in the state will be converted to marriages. [Contact Authors]
[FULL STORY]
 

Business Succession Planning: Now is The Time
by Janet B. Fierman and Daniel K. Fink

Janet B. Fierman, Esquire Owners of closely held businesses are working hard, especially in this economic climate, to keep their businesses operating and growing. Increasing numbers of these owners have put their exit plans on hold for business and personal reasons. Yet, this is an excellent time for owners to work on their exit plans. The analysis and strategic planning involved in this process is and will be invaluable for the continuing business operations. Current conditions provide a good opportunity to resolve difficult and unpleasant problems ignored in better times. This article lays out a brief overview of the issues to consider in succession/exit planning and of the options available. [Contact Authors]
[FULL STORY]
 
Commercial Lease Renegotiations: Tips for Landlords and Tenants
by Bruce H. Bagdasarian

Bruce H. Bagdasarian, Esquire There’s a new power struggle underway in the commercial real estate leasing marketplace. Tenants are now seeking to capitalize on the economic chaos by renegotiating existing commercial leases - in some cases, as a last ditch effort to stave off bankruptcy. Clearly, it’s a new playing field for commercial landlords and tenants. Landlords and tenants should consider key factors in renegotiating a commercial lease. [Contact Author]
[FULL STORY]
 
Roadmap to Housing Development Funds: HUD Issues Guidance on Implementation of Tax Credit Assistance Program
by Kenneth A. Viscarello

Kenneth A. Viscarello, Esquire The American Recovery and Reinvestment Act of 2009 contained a provision designed to jump-start the affordable housing industry by appropriating $2.25 billion dollars in additional HOME funds to provide additional capital investments in Low Income Housing Tax Credit projects. On May 4, 2009, HUD finally issued a Notice to provide guidance to state credit housing agencies and developers on how the additional HOME funds will be used and distributed. [Contact Author]
[FULL STORY]
 
Firm News
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SPB+G Boston Office Expands to Bigger Space


We are pleased to announce our Boston office has moved to new, expanded office space located on Boston's waterfront at
255 State Street (note the above masthead - our building is the one with the American Flag in front). Telephone/fax numbers and email addresses remain unchanged. The difference? Larger office space and a new view of the city and beyond where we will continue to serve our national and international clients with innovative approaches and practical solutions.

Client Focus
Students Miss School and Can’t Say Why: It was a Matter of National Security
D.C. High School Students Introduce President Obama to Student Conservation Association (SCA) and Their Many Community Service Projects

Student Conservation Association (SCA) Logo This Spring 12 teenagers, all volunteers with the Student Conservation Association (SCA), were permitted to tell only their parents why they just had to skip school. As it turned out planting trees with the President of the United States was an acceptable excuse for missing classroom time. [Contact Authors]
[FULL STORY]
 
Save the Date


SPB+G's 20th Annual Public Sector Labor and Employment
Law Review and Update

For Municipalities, Counties
and School Districts
Thursday, October 8, 2009
8:00AM-3:00PM
The Event Center - C.R. Sparks
Bedford, NH

This labor and employment law event brings together representatives of management, labor and the New Hampshire Public Employee Labor Relations Board to share information and updates on subjects that they regularly encounter. Experienced labor negotiators, employment lawyers and public sector officials attend to discuss a variety of timely issues among peers.

The registration fee includes continental breakfast, lunch, refreshments and seminar materials. For more information about this Public Sector Labor and Employment Law Review and Update, contact Liz Teasck at 603.627.8105 or events@sheehan.com.

Upcoming Events

Merrimack Valley Chamber’s Business Networking Mixer
Wednesday, July 08, 2009

5:00PM to 7:00PM

Jackson's Restaurant
478 Lowell Street
Methuen, MA

For more information please go to: www.merrimackvalleychamber.com.

 

Manchester Chamber Entrepreneur's Roundtable
Friday, July 24, 2009
8:00AM to 10:00AM

Chamber Board Room
889 Elm Street
Manchester, NH

For more information please go to: www.manchester-chamber.org.

 

NHHTC Intellectual Property Forum -

Comparing United States and Foreign Patent and Trademark Protection: Differences You Should Know
Wednesday, July 15, 2009

11 Amherst Street
Manchester, NH

Sheehan Phinney speakers Attorneys Peter Nieves and Douglas Verge.

For more information please go to: www.nhhtc.org.

 

Boston Business Journal –
First CFO of the Year Awards
Thursday, July 16, 2009
11:00AM to 2:00PM

Boston Park Plaza Hotel
50 Park Plaza
Boston, MA

For more information please go to: www.bizjournals.com.

 

Greater Concord and Manchester Joint
Human Resources Association Meeting

Thursday, September 17, 2009

7:30AM to 11:30AM

Grappone Conference Center,
70 Constitution Avenue
Concord, NH

For more information please go to:

www.mahra.org or www.hra-gc.org.

 

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SHEEHAN PHINNEY BASS + GREEN PA
A Regional Business Law Firm.
www.sheehan.com



MANCHESTER
1000 Elm Street
Manchester, NH 03101
603.668.0300



CONCORD

Two Eagle Square
Concord, NH 03301
603.223.2020



HANOVER
Two Maple Street
Hanover, NH 03755
603.643.9070



BOSTON

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617.897.5600


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