Des Moines Business Lawyer

Charles Schwab uses $1 billion in stock to buy OptionsXpress

Posted on March 21st, 2011 No Comments

Today, Charles Schwab Corp. agreed to use $1 billion in stock to purchase OptionsXpress, a retail options brokerage. The brokerage will be used in the Schwab’s equity and mutual funds offerings.

In the purchase, Schwab agreed to exchange 1.02 of its shares for each OptionsXpress share. OptionXpress’s acquisition price totaled 20 percent more than their closing price on March 18th.

Since 1999, Schwab has made at least 15 business purchases. Last year, the company bought Windward Investment Management Inc. for $150 million.

If you are a business owner looking to sell your business or purchase another business, contact the Des Moines business sale and purchase attorneys of LaMarca & Landry, P.C. at 877-327-2600 to learn more about how we can help you.

Dunkin’ Donuts considers franchising in Des Moines

Posted on March 15th, 2011 No Comments

Dunkin’ Donuts is considering expanding their business thorough Iowa, particularly in Des Moines, Sioux City and Cedar Rapids. Last year, the coffee and bakery chain opened 574 new locations worldwide and committed to franchising 226 new stores in the United States. The company is also expanding their franchise into new markets like airports, universities and sports arenas.

Grant Benson, CFE and vice president of franchising and market planning, stated, “Dunkin’ Donuts is looking for qualified candidates with foodservice, operations and real estate experience to join our team to help expand the brand’s footprint in Des Moines and the surrounding areas.” Company officials say that franchisee financial and experience qualifications will vary depending on the market. However, potential Dunkin’ Donuts franchisees are expected to have a minimum net worth of $500,000 and liquid assets amounting to $250,000.

If you are considering entering into a franchising agreement with another party, contact the Des Moines franchise drafting lawyers of LaMarca & Landry, P.C. at 877-327-2600 to learn more about franchise drafting in Des Moines.

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Iowa State files business misconduct suit against veterinarians

Posted on March 8th, 2011 No Comments

Last week, Iowa State University filed a business misconduct lawsuit against three former employees of their veterinary hospital, Iowa Veterinary Specialties. Iowa Veterinary Specialties was formerly a nonproft hospital, but the university purchased it in January as a place for veterinary students to be able to work with experienced veterinarians.

The suit claims that three doctors and an operations managers stayed with the veterinary center after the university purchased it, but planned to later separate to start a competitor veterinary hospital, Iowa Veterinary Referral Center. Officials from ISU claim that the new veterinary center diminishes the value of the school’s purchase of the Iowa Veterinary Specialties center earlier this year.

Moreover, court documents allege that the employees left the veterinary clinic on the day the sale was finalized with Iowa State and only after they were able to obtain confidential information on the clinic’s finances and customers.

If you or someone you know has questions about breach of contract or an employee contractual dispute, contact the Des Moines contract dispute attorneys of LaMarca & Landry, P.C. at 877-327-2600 today.

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Electric car-maker accused of fraud

Posted on February 28th, 2011 No Comments

Gabus Auto Distributors, owned by car dealer Gene Gabus, is currently being accused of business fraud and breach of contract related to the manufacture of electric cars. A former business partner out of Webster City has filed suit against the company claiming they fraudulently misrepresented themselves and failed to provide him with the tools necessary to enact the duties of his contract with the company.

Gabus had contracted a subsidiary Eagle Manufacturing out of Webster City to make 2,500 of their Electric Motor Cars every month beginning last summer. Eagle Manufacturing’s owner Joe Fleming says that Gabus and his company charged him $500,000 for manufacturing rights, but never provided the information or parts necessary to fulfill the terms of their contract.

If you are a business owner who has been the victim of business fraud or breach of contract, contact the Des Moines fraud and unfair trade attorneys of LaMarca & Landry, P.C. at 877-327-2600 to speak with an experienced business lawyer about your rights.

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Johnston condo owners sue development

Posted on February 21st, 2011 No Comments

12 condominium owners filed a lawsuit last Monday after the Providence Point condo development in Johnston was foreclosed. The lawsuit alleges that Brent Haverkamp, owner of Haverkamp properties, including the Providence Point condominium complex, and Two Rivers Bank and Trust committed breach of contract and breach of fiduciary duty.

The foreclosure and lawsuit came after the condo’s original owner, Regency Homes, was unable to continue running the complex in April 2008. Haverkamp took control of the Providence Point property and converted it into an apartment complex. Two Rivers provided development loans and financing. Since Haverkamp became owner, residents at Providence Point have been unable to refinance their mortgages because of Federal National Home Mortgage regulations.

Contact the Des Moines contract lawyers of LaMarca & Landry, P.C. at 877-327-2600 today, if you or someone you know has been the victim of breach of contract or another contract dispute in Des Moines.

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Business partners sue over West Glen Town Center

Posted on February 14th, 2011 No Comments

Gary Kirke and Bill Van Orsdel, friends since childhood and long-time business partners, are engaging in a business dispute lawsuit over the West Glen Town Center. The town center, located in West Des Moines, has been struggling with debt and property vacancies.

The two entrepreneurs formed Kirke Van Orsdel Insurance Agency in Des Moines in 1974. Their business grew to include 10 regional offices and more than 10,000 clients. After the town center started struggling, Kirke and Van Orsdel began to realize that they weren’t seeing eye to eye one how it should be managed.

Kirke sued Van Orsdel after a year of fighting over the property. The lawsuit alleges that Van Orsdel committed breach of contract, fraudulent nondisclosure, conversion of company resources into his own and unjust enrichment. Van Orsdel insists that Kirke’s allegations are “replete with half truths, mischaracterizations, and outright falsehoods.”

To discuss the best way to approach a business dispute in Des Moines with an experienced business attorney, contact the Des Moines business dispute lawyers of LaMarca & Landry, P.C. at 877-327-2600 today.

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House File 111 approved in House

Posted on February 10th, 2011 No Comments

Last week, the Iowa House of Representatives approved bill House File 111 and effectively made Iowa residents able to ignore the federal government’s healthcare insurance mandates. One representative that voted for the bill, Lance Horbach, stated, “This bill deals with the federal government impeding upon states rights and individuals rights. We have the ability, the sovereign ability in the state of Iowa and as legislators representing the people to make that decision.”

The bill would allow Iowans to opt out of the federal healthcare that goes into effect in 2014. Proponents of the bill say that those who opt out will be covered by a law that prevents healthcare insurance companies from denying coverage. House File 111 passed with a 59 to 39 vote and will now be considered in the Senate.

If you or someone you love is ill or injured and is not receiving the healthcare reimbursement that they are entitled to, contact the Des Moines healthcare law attorneys of LaMarca & Landry, P.C. at 877-327-2600 today.

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North Grand Mall in commercial lease negotiation

Posted on January 31st, 2011 No Comments

The North Grand Mall is in the middle of negotiations with two major anchor stores on commercial lease deals. The mall’s developer, GK Development, secured their third six-month extension for negotiations. Ames City officials are trying to help negotiate the deals and suggested that GK offer the potential tenants incentives to sign a lease with them.

While the two potential tenants’ names have not been released they are said to be “well thought of in the community” and one would require tearing down and building a new location south of Sears. City Councilman Jami Larson said of the lease negotiations, “There are two tenants that we have in mind that would be incentivizing…if these two tenants come in, we jumpstart life back into the mall.”

Contact the Des Moines commercial lease negotiations lawyers of LaMarca & Landry, P.C. at 877-327-2600 today, if you are a business owner and have questions or need legal assistance in negotiating commercial lease terms.

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Several new businesses open in Indianola

Posted on January 27th, 2011 No Comments

According to the DesMoines register, several new businesses recently opened in Indianola. The most notable business formation was Poindexter Flooring’s move into the former Homes Chevrolet car dealership located just north of Indianola. Poindexter Flooring executives describe the company as a “full service commercial flooring contractor”. The new location allows the business’ office and warehouse to be in the same place.

Other new businesses in the Indianola area included a Casey’s General store, several salons and spas, and a weight loss studio. Several hair stylists and cosmetologists came together to form their own salons including Tossled Salon, One-Eightly Salon and Spa and N.Y.U.T. Clothing and Salon. The weight loss studio, Affordable Elegance, is an individually owned business that uses an infared sauna and toning tables to facilitate weight loss.

If you or someone you know wants to start a business and has questions about the different ways to go about business formation, contact the Des Moines business formation attorneys of LaMarca & Landry, P.C. at 877-327-2600 today.

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December home sales up in Des Moines

Posted on January 21st, 2011 No Comments

Last month, home sales in Des Moines were up by 26 percent from a year earlier. 451 homes were sold in December 2009 and 568 were sold in December 2010. Also, the average home sale price rose by 2 percent and pending sales decreased by 1 percent.

In December 2010, the average home sale price in Des Moines was $163,002 and the average home stayed on the market for 113 days. There were 5,125 homes listed for sale in Des Moines last month, up by 3 percent from December 2009.

Data shows that the average home buyer in Des Moines spent 1.4 times the amount of their annual income on homes in the third quarter of 2010, while the average home buyer nationwide spent 2.4 times the amount of their annual income.

If you or your business have questions about settling a real estate dispute, contact the Des Moines real estate litigation lawyers of LaMarca & Landry, P.C. at 877-327-2600 to learn more about your rights as a property owner.

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