holidays mark the beginning of the close of another year. 2003 has passed
quickly and we suppose that is the problem with growing older, the years
pass more quickly and all the things we planned to do tomorrow are still
left undone and there seems to be no time to do them. An old woman living
in an assisted care home close to our home said it best when we inquired
how she was doing during a recent visit. “I’m just glad to be
alive,” the old woman said, “every day is better then the last one.”
“I’m just glad to be alive,” it made us think that we can’t lose
sight of what’s important in our hurried and hectic lives. We should
never take time or people for granted.
Fair Credit Reporting Act Renewed
Bush signed back into law the Fair Credit Reporting Act. Had he not done
so the Act would have expired January 1, 2004. Although this is consumer
legislation, businesses that allow business customers to purchase using
credit cards need to take note of the renewed law as it affords the debtor
more protection than before. One of several changes in the new law is
that only the last four numbers of the credit card number can appear on
any written receipt or charge slip.
Who’s Minding the Store?
read the retailers are complaining the economy has not sufficiently
recovered to meet their holiday sales expectations. We suggest the problem
lies more with the retailer than the consumer or the economy. We know an
individual who walked out of two stores this week where they were prepared
to buy because store personnel were not aware of prices their companies’
were advertising in both print and media advertising. In one store, they
presented the printed advertisement; the department manager said the price
did not apply to the item they wanted to purchase even though the picture
on the advertisement clearly was the same item. They didn’t argue but
simply took the ad to a competitor who matched the price and gave them an
additional 10% discount. The failure to communicate within the
organization and the lack of customer service continues to plague not only
the retailer but also all business organizations. Until these critical
issues are properly addressed businesses of all types will continue
experiencing difficulty regardless of the economy.
Is Attorney-Client Privilege on
the Way Out?
Sarbanes-Oxley Act places more emphasis on the legal community to act
as watchdog in corporate operations. The ABA recently adopted a resolution
that permits attorneys to disclose information outside attorney-client
privilege when the information obtained from the client involves criminal
or unethical conduct. The ABA goes on to say that attorneys need to
remember that the client is the corporation and not officers and
directors. However, our informal surveys of attorneys who represent
corporate clients reveal that the attorneys are reluctant to adopt the ABA
I wish you well.
information is provided as information only and not legal advice.
Legal advice should be obtained from a competent, licensed attorney,
in good standing with the state bar association.