Dow Jones Hits Five Year High

Yes the economy keeps hobbling along.  But the stock market has been very strong. The bellwether Dow Jones industrial average of 30 large cap stocks hit a five year high the other day, highest it’s been since Halloween of 2007. My 22-year old was still in high school, my 10-year old in kindergarten.  That’s just ...

Flash: Obama to Name Mary Jo White as SEC Chair

It just came across the wires that Pres. Obama later today will announce he is appointing former federal prosecutor Mary Jo White to be the next Chair of the SEC. She was a well-known (and well-respected) prosecutor here in New York, appointed by Pres. Bill Clinton. She successfully nailed terrorists, Wall Streeters and mobsters. Most recently she ...

Big Award in Chinese Reverse Merger Case

In what appears to be the first actual judgment in the several dozen cases involving allegations of impropriety in cases of Chinese companies that went public in the US, a $77 million arbitration award was granted to a plaintiff in an arbitration case in Hong Kong. AIG CEO Hank Greenberg’s C.V. Starr & Co. sued the founding shareholders ...

Fourth Quarter Good for Small Company Financing

According to the DealFlow Report, the fourth quarter of 2012 saw a nice uptick in financing activities for smallcap companies. Reverse mergers were down, but in general people are feeling good and more financings are getting done for small public companies. Jefferies (which is being sold to Leucadia National), JMP, Piper Jaffray, Cowen & Co. ...

Buy Small Business Stock in 2013 – No Capital Gains Tax!

The newly passed “avoid the fiscal cliff” bill, known as the American Taxpayer Relief Act of 2012, had an important provision that many seem to have overlooked. An exemption from all federal capital gains tax for qualifying “small business stock” (under Section 1202 of the Internal Revenue Code) was restored after being taken away in 2011, at ...

See You at OneMedForum!

I am headed to Florida tomorrow for client meetings, then to San Francisco for next week’s OneMedForum conference. I’ll be running a workshop there on the JOBS Act with my partner Nimish Patel. For more on the workshop and conference, go to http://www.onemedplace.com/forum/going-public-after-the-jobs-act.  Our firm is proud to be a sponsor of the event. The summary ...