MPL General Counsel Corner – Focus Daniel Son, Focus
There must have been something in the water in the public company marketplace this past week. GE, Toshiba and J&J all announced that each respective company was breaking up its key divisions. While some may be surprised (not sure why), it is a normal cycle for businesses that become too far-flung.
If you look back in time, many other companies that were the corporate titans at one point, eventually broke up (e.g., ITT, Siemens, and TYCO to name a few). I can tell you that these breakups were not done overnight. Hindsight is of course always 20/20. At some point in time, you could see investor calls for change in each of these instances which eventually got louder and louder.
Can this same issue happen to smaller organizations? Absolutely! When a business loses its focus, bad things typically happen. That’s why it is critical that a business or organization leader has a trusted group of professional advisors, mentors and/or a board of directors to help with strategic and operational decisions. I can assure you that any decision you face has probably happened before. This trusted group of advisors can help you and your organization stay on the right path. They can be your Mr. Myagi and help you to “Focus Daniel Son, Focus”.
A few other items of interest this week
- OSHA halt all ETS activities pending the outcome of the pending litigation
- Check out a podcast I recently did with the Centricity team. I had a great time talking to Jay Kingley, CEO of Centricity about how businesses put themselves at risk when they don’t have a regular review of their vendor agreements.
- State Tax Implications for Individuals Working Remotely – thanks to the team at taxwarriors.com for sharing.
- Business Owner & Executive Mixer hosted by Liberty Financial Strategies, Walz Group and LINK Business – December 2, 2021 @ 5pm
Helpful Coronavirus Resource Pages
- EisnerAmper Coronavirus Hub
- NFIB Small Business Resources in Response to Coronavirus
- RKL Coronavirus Resource Page
- Trout CPA Covid-19 Resources
- The Tax Warriors Covid-19 Tax Resource Center
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As always, please don’t hesitate to email myself (firstname.lastname@example.org), Andy Miller (email@example.com), Christian Miller (firstname.lastname@example.org), Erik Spurlin (email@example.com) or anyone in our office with questions or comments