Customers out thousands of dollars after wind power business fails

A Shenandoah-based wind power firm permanently closed Monday with no plans to refund money to its customers.

The business’ owners were denied a loan from the city when they opened the wind power company in 2009 after a background investigation showed they filed for bankruptcy in Branson, MO in 2005, owing more than $800,000 for other businesses. One of the owners blamed the company’s failure on malfunctioning parts produced in a Chinese factory. Former workers report that most of the employees lacked training in wind generators and electrical work and instead learned skills from other workers.

If your business runs into legal troubles, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600.



What is a best efforts clause?

In business contracts, clients often want their hired firms to treat them like a top priority. This generally means employing the necessary resources for a job.

Ensuring that hired firms will treat clients as top priorities, however, is legally difficult. That being said, clients can insert a best efforts clause in their business contracts to guarantee that no matter what happens the hired firm will employ the necessary resources for a project. 

While it is often difficult to bring a case to court based solely on the best efforts clause, it can still act as an extra layer of legal protection in a business contract. 

If your business has questions about its business contracts, contact the Iowa business attorneys of LaMarca Law Group, P.C., at (877) 327-2600. 



Terra Industried to be acquired by Yara International

Terra Industries announced last week that it will be acquired by Yara International. The merger will include Yara acquiring all the outstanding shares of Terra common stock. 

Once the merger is complete, Terra will be set up as a subsidiary known as Yara North America, and the company will continue to produce various nitrogen products. 

If your company is considering a merger, contact the Des Moines business attorneys of LaMarca Law Group, P.C., at (877) 327-2600. 

 

 



TV Contract Dispute May Leave Some Iowans Without Programming

A contract dispute between Mediacom Communications and Sinclair Broadcast Company may result in the disruption of service for many Iowans. Unless the dispute is resolved, some viewers may be unable to watch the January 5th telecast of Iowa versus Georgia Tech in the Orange Bowl, as well as popular programs like “American Idol” and “24” on Fox.

Sources claim that the companies are battling over how much Mediacom should pay Sinclair to broadcast the group’s channels. Public officials in Iowa have asked the FCC to intervene to prevent a disruption in service.

The Des Moines business attorneys of LaMarca Law Group, P.C. have experience dealing with contract disputes and other business claims. If you need assistance with a contract dispute, contact us at (877) 327-2600 today.

 



What to do if you are not receiving your retirement benefits

When many people sign contracts to work as employees for various companies, they often make an agreement as to the terms of the retirement plan. After they retire many years later, these people expect to receive the full benefit as promised by the plan.

However, in some cases, retired employees do not receive their full, just benefits. When this occurs, either the former employee’s company or the retirement fund may be at fault.

Determining the guilty party and the extent of damages, however, is a difficult task that requires knowledge concerning the legal and accounting circumstances.

If you or anyone you know has had problems with the retirement benefits, contact the Des Moines retirement benefit lawyers of LaMarca Law Group, P.C., at (877) 327-2600.



Two common types of pension plans

Employers structure pension plans in a variety of ways. One type includes direct benefit plans. Under these plans, the employer promises to pay an employee a certain benefit upon retirement.

These plans, however, differ from direct compensation plans. Under these plans, employers promise to match a certain level of an employee's contribution. The combined contribution in the plan is then managed in a fund, in which the employee bears the investment risk. 

If your company has legal questions about its pension plans, contact the Des Moines business litigation attorneys of LaMarca Law Group, P.C., at (877) 327-2600. 



Which entity type is right for your company?

When an invididual or group of people decide to form a business, they often must choose an entity type. On the general level, the people starting the business will either decide to form a partnership or corporation.

If they choose a partnership, then they have the advantage of being a pass-through entity, which means that income taxes pass through to the personal level. However, depending on the type of partnership, some of the partners may be liable for debt obligations. 

If they choose a corporation, then they will all have the benefit of limited liability. However, their business activities will likely be taxed twice, once on the corporation level and once on the individual level for dividend receipts. 

If your business is having trouble deciding an entity type, contact the Iowa business formation lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 



The issues surrounding a business liquidation

When businesses begin to wind down, they must make many important decisions regarding liquidation. The liquidation process can often be complicated and lengthy given the financial, accounting, and legal issues that must be resolved.

For instance, when a company liquidates, it may need to pay a certain tax amount that depends on the business entity type. While sole proprietorships typically pay little to no taxes upon liquidation, corporations will often face numerous taxes. 

If your business is considering liquidation, contact the Iowa liquidation lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 



What is the CFTC?

The CFTC is the Commodity Futures Trading Commission. It was established in 1974 to act as a regulatory agency over futures contracts. 

The role of the CFTC is to detect and prevent fraud in the futures trading market. By serving this role, the CFTC enables market users, such as investors and creditors, to trade securities in a competitve futures market. 

If your company is involved in the commodity futures trading, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 



How antitrust laws protect consumers

As companies grow in size and begin to dominate the market, they may come up against antitrust laws. These laws are meant to protect consumers from large businesses that may monopolize markets. 

Such monopolies are disadvantageous to consumers because the large businesses can charge unfair prices for goods and services. One of the common signs of a monopoly is when a large business begins acquiring its smaller competitors. 

If your company is in an industry with a monopolizing business, contact the Iowa business attorneys of LaMarca Law Group, P.C., at  (877) 327-2600.



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