Editorial

To use a well worn phrase – “It’s the Economy stupid!” It is painful enough that we have been hit with a shortage of funds on a personal basis but every State is experiencing budget shortfalls and budget cuts. So again, the scenario-du-jour is doing more work with less people and resources. I say this not solely to commiserate with you but to specifically address two lamentable results of State budget cuts.

The first is that your travel budget may have been cut to the point where you may not be attending the IACA Conference in May, 2009. If that is the case, I would entreat plead with you to find some way to attend. Of all the conferences I have attended, I have found IACA to be most valuable and beneficial for the kind of work we all do, I am sure you agree. As far as I know, IACA is the only conference where once a year all the Commercial Administrators from all the States, Canada and others from the International arena get together and discuss efficiencies, concerns, actions, etc. To miss this conference would be to NOT avail yourself of becoming increasingly efficient and NOT staying on top of important potentially contentious issues until you are forced to resolve them without prior warning. However, rather than me singing IACA’s praises, might I suggest that we use this newsletter as a forum for you to define why you find IACA beneficial. I will publish your views and perhaps that will provide sufficient justification to help those who truly need to go and are finding it difficult to gain approval.

The second lamentable result of budget cuts is that we inevitably enter a Catch-22 scenario. You are told to be more efficient, to do the same or more work with the same or reduced resources. Fair enough, there are tools that will readily allow you to do that but you cannot purchase them because your budget has already been cut. Sound familiar? I have no quick or elegant answer to this. However, there are options - self-funding, deferred payments, project financing, etc. Since these options are necessarily tailored to each individual situation, rather than go into them here, give me a call and we can explore your unique situation. Suffice it to say that there are options to mitigate the lamentable Catch-22 conundrum.

As to the newsletter, in this first issue, we have endeavored to show our support of IACA by including an article by Scott Primeau, IACA STS Assistant Vice-Chair. We have attempted to give you a public view of considerations for incorporating in one’s home state from Thomas Lyon who has concentrated his practice in the areas of corporate law, corporate finance and securities. The Ask David section deals with the topical issue of special characters in filing applications. Finally, in the spirit of all work and no play, there is a good recipe that is cheap and quick as well as a puzzle for your enjoyment.

To paraphrase Chip, please make this newsletter your own. Let us know what content you would enjoy and appreciate.

Lastly, please note that CCIS is and will be bringing you a diverse spectrum of authors and content. We naturally recommend that you consult with your local experts on these matters as well, as we really cannot be responsible for the content provided to us by contributing writers. Should you have any issue with specific content, please contact the author directly.

Ted Paczek
Editor
tpaczek@ccis‐inc.com