Texas Business Lawyer

The financial crisis in the mortgage and real estate industries is sending shock waves throughout the economic sphere, making many banks leery of issuing new commercial loans, particularly to small businesses. Even with a low Federal Funds rate, approximately 1/3 of banks in the U.S. had enacted tougher commercial and industrial loans during the 4th quarter, according to a survey of senior loan officers conducted by the Federal Reserve.

The tougher standards spell difficulties for many businesses, especially smaller, privately-owned businesses, who will have to provide much more detailed and comprehensive information to qualify for loans. Industry experience has also become a large factor in loan applications. The irony of it all is that such tight-fisted loan policies will only aggravate the economic downturn.

In the current economic environment, even getting a loan can be difficult. The good news is, finding an Austin business lawyer doesn’t have to be - call the Slater & Kennon law firm at 512-472-2431 today.

Confirming rumors that had been circulating since last week, the executive board of No. 2 search engine Yahoo! Inc. rejected a $44.6 billion takeover bid by Microsoft Corp., calling the offer of $31 a share too low. Microsoft, which has yet to respond, may consider taking their offer straight to Yahoo shareholders in an attempt to oust the current board. Yahoo stock rose 2% and Microsoft stock fell 1.3% following the offer.

Google Inc., the current No. 1 search engine, has expressed concerns about a possible Microsoft-Yahoo merger, and has suggested that antitrust regulators examine the proposal very carefully.

There are many complex regulations governing how your business can grow and act. If you have questions or concerns about these laws, call an Austin Business lawyer from the law firm of Slater & Kennon at 512-472-2431 right away.

In a development seen as corroborating fears of a recession, a key survey of service-sector executives showed that business activity in the sector declined during the month of January - the first time it has done that in five years. The Institute for Supply Management issued an index rating for the service sector of 41.9, a substantial drop from 54.4 in December of 2007. A rating above 50 indicates sector growth, while a rating below 50 indicates a decline in the sector.

While some economists say the dismal index reading for January is not definitive evidence of a recession by itself, others point out that the service sector is much larger than the troubled manufacturing sector, and that the danger signals cannot be ignored.

The world of business is a tough one, especially when there are legal concerns involved. If your business needs legal counsel or advice, call an Austin business lawyer from Slater and Kennon at 512-472-2431 today.