More and more U.S. states have legalized the cultivation, distribution, and use of marijuana. Some states have legalized it only for medical purposes, while others have also legalized it for recreational purposes. As two examples, New York State recently enacted the Marijuana Regulation and...
While the COVID-19 pandemic wreaked havoc on many industries in the global economy, e-commerce usage among everyday consumers skyrocketed during this unprecedented time. The increase in online purchasing was a direct result of the pandemic, as consumers opted to stay at home and rely on the...
Family-owned businesses (FOBs) are a vital part of the U.S. economy, constitute the realization of the American dream for many, and play a critical role in the creation of generational wealth. There are 5.5 million FOBs in the United States, and they contribute 57% of the total gross domestic...
Family businesses are of immense importance for the German economy. According to the Institute for small and medium size business research (IfM), approximately 3.7 million companies belong to the so-called German Mittelstand, which is the backbone of the German economy. Around 95% of those medium-...
The same qualities that help the leaders of family businesses survive and thrive can also lead to their downfall. Stubbornness and determination can be strengths while building a business or leading it through change, but these qualities can also damage a company if they blind a leader to festering...
Family businesses offer a unique perspective in business management, which is often anything but textbook, exhibiting many attributes which often are at the root cause of their demise. Many of those attributes are common features of family businesses worldwide and don’t just apply to those in the...
Every month or so, another household name— e.g. , PG&E, Neiman Marcus, Hertz—commences a Chapter 11 case to restructure its balance sheet, reset its relationships with its creditors collectively, and leave its legacy problems in the past. The U.S. Bankruptcy Code is a carefully crafted and...
“Where was the board during this?” is not a question any nonprofit board member wants to hear, but it is one that is often asked. Thus, what are board members’ responsibilities during a distressed nonprofit healthcare organization’s search for a financial solution? This article focuses on nonprofit...
The pandemic has intensified many of the pressures the senior living sector was already facing, including declining census, and workforce, regulatory, and reimbursement challenges. Many senior living facilities saw their revenues decline as occupancies decreased while at the same time contending...
The Medicare Accelerated and Advance Payments Program (MAAP) allows the Centers for Medicare and Medicaid Services (CMS) to accelerate payments to Medicare providers and suppliers to help offset financial losses due to a disruption in claims processing or during a public health emergency such as...
