Rexnord manufactures water management products and power transmissions. Just last month, the company reported it was still considering a sale and "various strategic alternatives." This was announced in its fourth quarter fiscal results; however, that review has apparently concluded now.
]]> There was some interest in the company, but it would appear the bids were not high enough for Rexnord. Towards the beginning of May, Bloomberg reported the company was giving up on the sale because the bids from companies like Watts Water Technologies Inc., and some private-equity firms were just too low. Bloomberg had said they had a source with knowledge of the bidding and possible sale, but did not identify their source.An announcement by the non-executive chairman of Rexnord recently revealed the company now feels the best plan for the shareholders and the company is to abandon the sale and focus on their strategic plan. He said there is confidence in the company's ability to outperform the competition and rely on the strength of the management teams and market positions.
Business and commercial law attorneys understand the complex nature of this area of the corporate legal arena. It is vital to protect the interests of your company, no matter how big or small it may be. When buying or selling a company, it can be difficult to ensure all aspects of the transaction are covered, including those that deal with state and federal regulations. This is why an experienced commercial law attorney is so vital. If you are considering selling or merging your company, contact an attorney to see what the next step should be to keep your company's best interests in the forefront at all times.
Source: bizjournals.com, "Rexnord confirms sale plans are dead" Jeff Engel, Jun. 13, 2013
]]>Most of the complex is within the borders of Franklin, Wisconsin, but some of it falls within the borders of Greendale. The dispute comes from whether the construction of the bike trails was properly permitted. These are not ordinary bike trails, but "gravity" mountain biking course. Specially designed lifts take bikers to the top of the hill and then they ride down. According to the general manager of complex, this type of course would be a first in the Midwest.
]]> The city of Franklin approved all parts of the construction project that fell within its borders. The planning manager for Franklin said that "Greendale is an important neighbor" to Franklin and they are waiting to see how Greendale and Milwaukee County work out the dispute. Greendale does not believe the project has the proper permits and there is confusion over the actual mapping of the complex.Milwaukee County issued a statement saying they are in talks with all parties involved in the project and are trying to solve the problem. The county hopes an agreement can be reached without having to go to court.
There will likely be several business and commercial law attorneys involved in this dispute, so each entity can ensure their interests are protected. If your company cannot reach a resolution in a business dispute, consult a Wisconsin business litigation attorney to discuss your options.
Source: bizjournals.com, "Greendale preps lawsuit against Rock sports complex, Milwaukee County" Sean Ryan, Jun. 05, 2013
]]>There have been mixed reactions to the news. A University of Wisconsin-Madison associate professor said that some will think it is a terrific way to get U.S. agriculture products into China. Others will say it is awful that Patrick Cudahy will no longer be American-owned. The professor thinks the majority of people will simply be unsure of how the sale will affect the local economy, including the 1,000 employees at the meat packaging plant.
]]> Shuanghui is supposed to pay $4.72 billion for Smithfield, and it will acquire $2.2 billion of the company's debt as well. This is almost a third higher than what Smithfield's shares closed at on May 28.The deal is not a certainty, though. There will be a lot of scrutiny from regulators, with much emphasis placed on national security. The news was quite shocking to many in the food and agricultural industries, although there had been some whispers of a shakeup coming at Smithfield. Most did not expect this, though.
When Smithfield and Shuanghui made the announcement about the merger, it was clearly stated that they would stand by the collective bargaining agreements at the meat packing plants. The workers are represented by the United Food and Commercial Workers Union.
There will likely be dozens of mergers and acquisitions attorneys working on this deal to ensure that all companies involved are represented. Those attorneys will work hard to ensure the best interests of those companies are considered. If your company is considering a merger or acquisition, be sure to speak with an experienced business litigation attorney as well.
Source: jsonline.com, "Chinese company to buy parent company of Patrick Cudahy" Joe Taschler, May. 29, 2013
]]>Officials at UW-Madison have been trying to convince Republican legislators to limit the open records law in Wisconsin so it will not include a researcher's work. As it stands right now, if an institution is public, then what goes on at the institution is public information, including research work.
]]> There are opponents to such a move, though, including the Wisconsin Freedom of Information Council. The president of the council says this idea is not necessary. The current open records law already allows the university to deny a request if they can provide a legitimate reason for doing so. He went on to say that if this "broad exception" was allowed, it would be abused and over-used.The University's Office of Industrial Partnerships' director doesn't agree. He believes it is crucial to keep potential competitors from knowing what certain unfunded research grants are all about. The directors says the university isn't trying to hide anything from the public but only trying to protect the work of its researchers until such a time as their work can be patented or published.
University officials say the new changes to the U.S. patent law earlier this year make this proposed change necessary. Since the patent system is now a "first-to-file system," it basically means someone can use the open records law to locate trade secrets and other intellectual property before it is patented or published. Then, they simply have to run to the patent office to get patent protection on an idea that originally belonged to a researcher at the university.
If you are in need of advice on your trade secret or other intellectual property, contact an experienced Wisconsin trade secrets attorney. You can learn how to protect your trade secret or pursue civil litigation against someone who has violated your intellectual property rights.
Source: jsonline.com, "UW-Madison seeks limits on open records to protect research" Jason Stein, May. 23, 2013
]]>Superior Dairy's final bid in the bankruptcy auction was $7.265 million, but that bid was topped by Lifeway Foods. The Morton Grove, Illinois company won the auction with a bid of $7.4 million. The next step will be a hearing to determine if Lifeway Foods has secured the financing to back the bid. Lifeway Foods is a publicly-traded company with sales last year of $89.9 million and financing is not expected to be an issue. Should Lifeway Foods' bid not go through, though, Superior Dairy could acquire Golden Guernsey Dairy.
]]> Superior Dairy started the bidding with what is known as a "stalking horse" bid in March for Golden Guernsey. The initial bid was for $5.5 million. Lifeway Foods has been the only other interested buyer and the only other bidder. Since there was another bidder, the sale of Golden Guernsey Dairy ended up in a bankruptcy auction.Many business owners believe that what happened to Golden Guernsey Dairy is the only outcome in a business bankruptcy filing; however, this is not always the case. Many businesses come out stronger and more competitive after a bankruptcy restructuring. If you are considering a business bankruptcy, contact an experienced bankruptcy attorney. This is the best way to learn all of your options and see if a Chapter 11 bankruptcy is right for your company.
Source: cantonrep.com, "Superior loses bid for Wisconsin dairy" No author given, May. 16, 2013
]]>The agent was a speaker at University Research Park in Madison, Wisconsin, to a group of members of BioForward. He said that each year, U.S. universities and companies have over $250 billion in trade secrets and intellectual property stolen by foreign spy agencies and foreign competitors. The two countries that commit the most economic espionage are China and Russia, according to the FBI agent.
]]> The agent, who just happens to have a law degree from the University of Wisconsin-Madison, said the FBI was able to make the arrest in the Medical College of Wisconsin case after agents met with officials at the college who had concerns about espionage. He didn't talk any further about the case, nor would he comment about any other possible arrests.The agent said there are a number of ways that espionage can occur, including high-tech and low-tech means. These include phones, computers, printers and people. He said the biotech industry is under attack, but that the FBI is here to stop the theft of trade secrets and other intellectual properties.
The agent urged companies of all sizes to protect against such theft. He said many companies do not take the proper precautions because their company is small or that the intellectual property they have simply doesn't matter that much to others. In addition, the agent said that companies that do put safeguards in place use precautions that are so inadequate, the trade secrets are still easily taken. He said it will take a combined effort of the FBI, universities and the private industry to stop this threat.
If you believe your company's trade secrets or other intellectual property has been compromised, contact an experienced attorney about your options.
Source: wisbusiness.com, "FBI expert warns biotech firms of threat from espionage" Brian Clark, May. 08, 2013
]]>There were five cooperatives that Waconia Farm Supply was considering merging with and mergers and acquisitions attorneys would have examined the deal from all possible aspects. Waconia Farm Supply deals in many areas of agriculture, including farm equipment and livestock, but also in lawnmowers, hardware stores and energy. This will be the largest merger United Farmers Cooperative has been through.
]]> The general manager of United Farmers Cooperative said the merger would be beneficial to all parties involved. There were several meetings between the two companies, where it was revealed that Waconia Farm Supply had sales that averaged about $52 million over the last few years. United Farmers Cooperative had sales of about $254 million. While there was no vote needed on United Farmers Cooperative’s end, about 40 percent of people who had membership in Waconia Farm Supply already had members in the other co-op, too.United Farmers Cooperative has already been used by Waconia Farm Supply to store a great deal of the company’s fertilizer. The merger will allow the cooperative to reduce costs by spreading them over a bigger area. It also allows the company to try to grow, but there isn’t’ as much risk involved as there could be. United Farmers Cooperative also plans on making the most it can from Waconia Farm Supply’s lawnmower sales.
The general manager said many people have asked him why United Farmers Cooperative decided to merger with Waconia Farm Supply. He simply said if the merger had not been good for the company – in terms of adding value to it – the merger would not have happened.
Mergers and acquisitions can be very complex and are seldom entered into without the advice and guidance of an experienced, skilled attorney.
Source: southernminn.com, "United Farmers Cooperative merges with Waconia Farm Supply" Suzy Rook, Apr. 17, 2013
]]>The company reportedly stated that the profits were largely due to reorganization, and the fact that the company owed less in interest for 2012. And despite net sales dropping 11 percent from 2011 until 2012, it still appears that the company is financially better off after filing for Chapter 11.
]]> This is not to say that the company's problems are over. The company will need to continually adjust to changes in the industry which is increasingly heading towards more digital media technology. The company may need to accept the facts that doing business as it did prior to reorganization is not viable.What attorneys that practices in the area of Chapter 11 bankruptcy can do for a company is to offer a means for a fresh start. By allowing for businesses to adjust the payment of crippling debt, a company can free up capital to be used towards new ventures and innovation. Yet any reorganization plan must not only convince a judge that it is a practical blueprint for conducting business in the future, it must also be approved by creditors of the business before any application for Chapter 11 will be approved.
NewPage operates paper mills in five other states besides Wisconsin. Without Chapter 11 as an option, the company may have to shut its doors resulting in damage to a number of local economies.
Source: The Business Journal, "NewPage had $1.3B profit in 2012, sales down 11 percent," by Jeff Engel, April 1, 2013
A federal judge in Wisconsin just recently dismissed Apple's breach-of-contract case in a dispute over royalties regarding Google's Motorola Mobility device, and Apple is planning on appealing that decision. And Apple and Google are also continually pursuing patent infringement claims against each other that were dismissed by another federal judge.
]]> The basis for the judge stating the two parties are unwilling to resolve disputes apparently arises out of 180 or more disputed claims between the two parties related to 12 separate patents. The two parties are also haggling over the defining of a large number of terms related to these patents.Proving up patent infringement claims is no easy matter for attorneys representing businesses in litigation. It requires an understanding of intellectual property law, and a thorough understanding as to how products are designed.
There is no doubt that business considerations do enter into patent disputes. Establishing ownership of patents can mean millions of dollars of revenues for that company. Yet whether the parties did engage in "obstreperous and cantankerous conduct" as the federal judge claims is dependent upon the manner in which individual business transactions were conducted by the two parties.
Source: Bloomberg, "Apple, Google Not Interested in Settlement, Judge Says," by Susan Decker, April 10, 2013
Our Wisconsin attorneys have a great deal of experience in litigating trade secret issues in court.
]]>The business is planning on dropping particular products from its marketing line because the sale of these products is affected by the sale of smartphones. American TV plans on removing these products from their stores in as little as two months time.
]]> This closely held business has been in operation since 1954. Income for the business was estimated to be $450 million in 2011, and close to half of that revenue was driven by consumer electronics sales. While the store has closed certain of its operations in one area, they have expanded its business in other areas.We don't always associate closely held businesses as ventures that will make major changes in the way they conduct business. Yet this particular closely held business is making these adjustments to keep up with the changing times, and to remain strong in the face of much larger competitors.
Closely held businesses generally have tighter budgets than other businesses, and cannot afford to make mistakes concerning business strategies or the directions in which the company will take. It's for this reason that these businesses will require sound legal advice from attorneys that understand the needs of businesses - particularly in extremely competitive fields.
Source: Twice, "American TV Exiting Car Audio, PCs, Cameras," by Alan Wolf, March 18, 2013
Apparently, steps have already begun to convert the historic building located in the southern portion of the United States. However, Dixie Brewery still hopes to halt the ongoing construction before changes become irreversible and the brewery is no longer able to use the structure for business.
]]> It seems that the dispute does not revolve opposition on the part of Dixie for the building to be converted to a hospital. Instead, it appears that a number of claims have remained unresolved prior to changes to the structure being made.The brewery blames governmental actions for not allowing improvements to the property after the property received storm damage. So while the property deteriorated, property values apparently fell and the property value was appraised at a much lower level. According to Dixie, this in turn allowed the government to seize the property at a much lower price than Dixie felt was acceptable.
Business and commercial law attorneys will represent businesses in litigation matters to make certain their financial and business interests are met. Businesses have the right to challenge governmental actions that amount to a taking without just compensation. Businesses understandably desire that they be treated fairly in such negotiations, and that policies not be implemented that would result in the business potentially losing millions of dollars.
Source: The Times-Picayune, "Dixie Brewery faces uncertain future as former owners sue the federal government," by Richard A. Webster, March 25, 2013
The number of restaurants owned by Flat Top Grill grew from 14 to 37. However, as money began to dwindle and lines of credits were not as readily available, the number of restaurants remaining open is once again at 14. Flat Top Grill has chosen Chapter 11 bankruptcy likely because it does not want to see the number of restaurants go down to zero.
]]> A Chapter 11 bankruptcy filing is more complex than other forms of debt relief in that it is directed specifically at struggling businesses like the above restaurant chain. Such filings require a reorganization plan for the entire company, and this plan will not go forward unless the bankruptcy judge feels the plan is viable for keeping the company running.Attorneys that file Chapter 11 claims will need to take a number of business concerns into consideration in the creation of these plans. It does no good to propose a plan that will only keep a business open on a temporary basis.
Chapter 11 may be the only option that will help prevent the other 14 restaurants from closing. Such a closing may cause irrevocable harm to those contracting with the restaurant chain as well. If the business is to completely fail, it will hurt the business owners, its employees, creditors, and other businesses.
In most circumstances, business failure is anything but a good option.
Source: Wauwatosa Patch, "Where Did Flat Top Grill Go? Bankrupt," by Jim Price, March 8, 2013
Kraft claims to have been "irreparably harmed" by the alleged actions of Land O'Frost. Kraft seeks an award of money damages, attorney fees, litigation costs, and an order prohibiting any further supposed infringement of its product.
]]> Depending what type of business we are speaking about, intellectual property and other trade secret type of matters often can involve the loss of a competitive advantage and millions of dollars in lost revenues. Businesses often invest a great deal of time and money in developing products. Sometimes, the time that it takes in envisioning a product to when it is actually sold may take a number of years.Yet proving that a trade secret is violated can be difficult. It may mean the analyzing of patents that have already been filed, and it could involve researching market trends regarding the sales of particular products.
Also, demonstrating that one lost revenue because of a trade secret violation can also be challenging. One would need to prove that the sales of one's own product would have been much greater had another company not infringed upon a patent or trademark.
It's for this reason that individuals and companies need to consult with attorneys anytime they have concerns regarding a trade secret. The ability to profit from one's own innovations is too vital a concern to not avail one of every option.
Source: Bloomberg, "Samsung, Lupin, JetBlue, MLS, AP: Intellectual Property," by Victoria Slind-Flor, March 1, 2013
Please review our Milwaukee attorneys' website for more information regarding trade secret disputes.
]]>The director of sales and marketing for Schell's would like to increase brewing capacity by approximately 100,000 barrels, and they now seeing a market in brewing craft beers. The approach in updating their products is what they hope to accomplish first before moving beyond doing business in the markets they currently have.
]]> The products that Schell has traditionally sold have not done as well as the company had hoped. It's for this reason that the company officers hope craft beers will provide a new avenue of opportunity.Yet what is particularly challenging (especially for a family run corporation) is the amount of competition that they face. With the craft beers, there are suddenly a large number of other businesses that also are trying to enter into the business. This is why expansion both in new products and eventually into new markets is so essential.
Attorneys experienced in business related issues can be particularly sensitive to the needs of small and closely held corporations. The legal needs and requirements can make the advice of legal counsel invaluable. This is particularly true when the business is hoping to move into new markets that may have differing regulations as to how business can be conducted.
Source: Brewbound, "Schell's Plans $2 Million Brewery Expansion," by Chris Furnari, Feb. 27, 2013
ATC will continue to weigh its options, and we will have to see if the FERC's decision will be appealed. This is not the first time that the FERC has ordered shared ownership of transmission lines as another line placed in western Wisconsin also had to be jointly owned by two utility companies.
]]> Costs in projects such as this can be in the area of $400 to $500 million dollars, but having controlling interest of these power lines can be extremely profitable as the placement of these transmission systems are considered vital to local economies. Also, these transmission systems are heavily regulated, so it's important to make certain that any plans in the development of such a system are in compliance with local, state and federal regulations.Because of the legal and financial complexities that come along with dealing these sorts of projects, it's always essential to receive the guidance of an experienced corporate attorney. These attorneys can analyze and evaluate business plans, negotiate with businesses and government officials, and represent parties in business-related disputes.
Source: Wisconsin State Journal, "ATC loses power line dispute, must share project with other firm," by Judy Newman, Feb. 13, 2013