Trusting in your business partner is essential to a successful business. You must rely on each other to support smart decisions, challenge bad ones, and collaborate in between. Without a foundation of trust how can you build a great business together? Sometimes you might have doubts for a good reason. If your gut is telling you that something is wrong then pay closer attention. We will discuss the seven warning signs of an untrustworthy business partner in this article.
The sale or purchase of a business requires careful negotiations and planning. The transaction does not have to end or even reduce operations, but sometimes a restructuring based on financial analysis is necessary. In these cases, it is important that the parties to the transaction have legal support to analyze financial statements and prepare business agreements. Employment agreements are also a factor, and legal guidance can help defend against disputes in the event that changing the business structure impacts employees.
Detroit-based Walbridge Construction is seeking $118.5 million in compensation for work on a halted construction project in Indiana. The company was contracted by Getrag Transmission, a German manufacturing company, to build an 800,000-square-foot factory, but when Getrag and its former partner Chrysler went bankrupt, the project went south.
Michigan state law requires energy companies to derive 10 percent of their energy from renewable resources. That goal has to be met by 2015, and public utility giant Consumers Energy, which provides electricity and natural gas to more than half of Michigan's residents, has now contracted with Barton Malow Company to meet that goal.