In 2011, Milwaukee Brewers star Ryan Braun became the first MLB player to successfully challenge, and evade, a 50-game suspension for suspected use of performance enhancing drugs (PEDs). Coincidentally, that same year, Braun went on to win the National League MVP award. Although many thought that Braun escaped on a technicality, Braun was not without
Justice! – The Case for Expedited Trials
Royal Pane, owner of A Pane in the Glass, fabricates high performance windows for commercial buildings. The good news? Business is going through the roof. The bad news? Royal’s delinquent receivables are climbing daily. A Pane in the Glass’s lenders demand that collections improve – now. Even if he could overcome his dislike for the
Mistakes Have Consequences – British Petroleum’s Settlement
Three years ago, Tilting told tales of oil spill legal problems suffered by Forrest Gump, Bubba Gump Shrimp Company, Wok Ann chu-gumm Seafood Restaurants, Chef Red Fishy and Bishop Carp. Tilting predicted class action lawsuits against British Petroleum and big settlements. Bubba, Chef Red and Bishop Carp ignored Tilting’s advice and never joined a lawsuit.
The Tax Man Cometh to Cyberspace
Rose Pettle is the owner of Florist Gump, a chain of flower shops throughout Texas. Ever the entrepreneur, Rose launched Bloomarama.com, an internet business selling many floral items in her brick and mortar stores. Bloomarama.com is a separate Florida corporation with no physical location or offices in Texas. However, for the convenience of its customers,
IRS Going For The Gold: Do Olympic Medal Winners Have to Pay Taxes on Their Winnings?
Justin Thyme is a member of the U.S. Olympic swim team and is returning from London with a gold medal in the 400 meter individual medley. After 10 years of dedicated training, Thyme secured first place when he edged out the next closest finisher by a mere .0007 seconds. After the medal ceremony, Thyme is
Collecting on a Judgment: To Sue or Not to Sue – Is that the Question?
The last couple of years have been good to Ray Sea the owner of Barely a Wake Marine Dealership in Palacios, Texas. Sales of the boats he manufactures are trending up. However, so are Ray’s accounts receivable. Hull Sizer, a purchaser of Ray’s superior Barely a Wake beauties, was over 180 days past due. Ray
How to Dissolve a Business
Anita Deal and Ivana Bie formed their commercial real estate business Dirt Cheap, LLC several years ago. Through 2007 it was wildly successful. Then the bottom fell out. Their friendship, tenacity and cash reserves are waning. Ivana believes that the market has turned and that now is the greatest real estate buying opportunity of all
Limits on Gifts to Teachers and other Public Servants
Dana Plato is a 6th grade student at a public school in south Texas. Plato’s favorite teacher is Mr. Socrates, who teaches world geography. Unfortunately, world geography is Plato’s worst subject. In fact, Plato is dangerously close to failing the course. Whether or not she passes is dependent upon how she scores on the final
What to do when a Client Files for Bankruptcy
Much of the corn that Ethan Awl raises is sold to Beau Plymouth for Beau’s company Plymouth’s Pride to feed its turkeys. Ethan’s payment terms are net 30 days. As the economy worsened and alternative fuels gobbled up corn supplies dramatically increasing feed costs, Plymouth’s formerly prompt payments from Beau are well beyond 30 days
Understanding the Tort of Negligent Misrepresentation
Ty Coon was furious after Tightwad Bank’s internal bank audit of Leaven and Earth’s books revealed the company’s inventory and accounts receivable levels materially lower than the company’s audited financial statements. Those financial statements, upon which Tightwad Bank relied, were prepared by Leaven and Earth’s outside auditors Cook, Books & Hyde and were a requirement