by Jason E. Squire GHJ’s Movie Business Podcast Series features Ilan Haimoff, Partner at GHJ, talking to Jason E. Squire, Professor at USC School of Cinematic Arts and Editor of The Movie Business Book Fourth Edition, about his predictions for the entertainment and media industry in 2021. Click [...]
UPDATED ON 1/13/21 QUESTIONGHJ OBSERVATION Is forgiveness available for PPP-2 loans? Yes. The forgiveness calculation and process is similar for PPP-2 loans as for the first round of funding. Importantly, the use of funds is expanded to cover additional areas including operations [...]
Since the onset of the pandemic, auditors have needed to keep their finger on the pulse of changes worldwide. Risk assessments in the current environment are unlike any others, as clients are dealing with significant changes to their businesses, the work environment and the economy overall as a [...]
How are CEOs achieving the post–pandemic vision to succeed in the new economic realities of today? Through a comprehensive survey of business leaders from 55 countries, and in–depth interviews with C–suite executives, HLB explores how businesses are navigating the implication of global health and [...]
GHJ and Nossaman LLP are honored to have hosted a COVID-19 Updates Webinar. This exclusive webinar focused on Insurance Claims and PPP Updates and will bring together leaders to increase their knowledge regarding opportunities, challenges and strategies during this time of disruption. Discussion [...]
Originally published in the Los Angeles Business Journal Staying on a mission — no matter what obstacles stand in the way — is challenging for any nonprofit. Add in a pandemic and things can often get even more complicated, especially for healthcare organizations. COVID-19 is now the leading [...]
2020 was a whirlwind year for the food and beverage industry, one that has dramatically changed the business landscape. Tune in Dec. 9, 2020 for a roundtable discussion hosted by Ervin Cohen & Jessup’s Food, Beverage and Hospitality Group discussing consumer trends, legal and regulatory [...]
In the midst of the COVID-19 pandemic, many organizations are experiencing critical interruptions to operations, which in turn has impacted their ability to meet contractual obligations. Due to their inability to perform, businesses are asking if they can avoid a contractual breach by invoking what [...]
Staying on a mission — no matter what obstacles stand in the way — is challenging for any nonprofit. And this year, many nonprofits, especially those in the healthcare space, have faced the unprecedented challenge of continuing their mission while having to pivot strategies to accommodate obstacles [...]
Throughout the various stages of the PPP stimulus package, the SBA has commented that borrowers of PPP funds of $2 million or more would be subject to additional scrutiny regarding their loan and forgiveness eligibility. In early November 2020, SBA circulated a draft questionnaire aimed at those [...]
As the transactional markets have begun to defrost and M&A activity is picking back up to pre-shutdown pace, it is a good time to consider how deals are being structured in a COVID-19 world. A key structuring term used in the transaction community recently is the “earnout.” According to SRS [...]
Tom Barry’s blog series, “OWNING the New Normal: Innovators Creating the Way Forward,” focuses on business leaders exploring the current and evolving business environment. The discussion will revolve around recognizing that leaders must innovate and pivot to “own” the future and move forward. [...]
COVID-19 has had an impact on nearly every industry — some for better, many for worse. The food and beverage industry is an especially unique case study of how the pandemic has been beneficial for some but drastically detrimental to others. In this exclusive webinar from The California Club, GHJ [...]
The Movie Business Podcast Series with hosts Ilan Haimoff, partner at GHJ, and Jason E. Squire, professor at USC School of Cinematic Arts and editor of The Movie Business Book Fourth Edition, has on guest panelist Kevin Goetz, founder and CEO of Screen Engine/ASI LLC (one of the most influential [...]
Managing a licensing office in a post-COVID-19 world presents unprecedented challenges. While there are numerous issues confronting licensing offices, there are several potential responses and strategies to help mitigate the damaging effects while still maximizing licensing revenue and interactions [...]
Due diligence and strategy are at the root of any growth plan, and the COVID-19 pandemic has created unique opportunities for acquisition success. Originally published in HLB (the international accounting network GHJ is a member of) Insights, David Horwich, GHJ Managing Director, discusses these [...]
Originally published in HLB's Insights. Value creation in any business is rooted in growth. All other things being equal, higher-growth businesses enjoy greater transaction multiples (and, consequently, value) than do companies with lower growth rates. Growth in a business comes from five [...]
Over the past several months, as a direct consequence of stay-at-home orders and related business shutdowns, U.S. retailers and food industry players have been battling to ensure that food supply chains remain robust in the light of unprecedented demand shifts impacting both traditional grocery [...]
GHJ Managing Director David Horwich spoke on HLB’s webinar “How has M&A in the Healthcare industry changed?” HLB International and GHJ partnered to discuss COVID-19 and its impact on the healthcare M&A sector with GHJ Leader David Horwich, Intrepid Investment Bankers Leader Adam Abramowitz, Eide [...]
GHJ hosted a webinar on COVID-19 and its impact on the real estate sector with GHJ Leader Richard Wu, Griffin Capital Leaders Kevin Shields and Randy Anderson and Baker McKenzie Leader Daniel Cullen. Discussion included: General Real Estate Market OutlookImpact of the Current Political [...]
GHJ Partner Ilan Haimoff talks with Randy Hua, senior vice president of Bank of America’s Entertainment Industry Group and Christopher Spicer, partner and leader of the Entertainment and Media Practice at Akin Gump Strauss Hauer & Feld LLP. Find out more about the legal and financing challenges [...]
Tom Barry’s new blog series, “OWNING the New Normal: Innovators creating the way forward,” will focus on business leaders exploring the current and evolving business environment. The discussion will revolve around recognizing that leaders must innovate and pivot to “own” the future and move [...]
One would be hard pressed to find one business that has not been affected by the COVID-19 pandemic. While several businesses have felt challenged in having to operate under constraints that were beyond what they could effectively manage, there were many other businesses that were able to pivot [...]
The global investment climate has been considerably impacted by the pandemic. HLB, the global accounting network GHJ is a member of, sat down with Anant Patel, GHJ Transaction Advisory Partner and HLB’s Global Transaction Advisory Services Leader, and David East, Head of FDI at Bureau van Dijk. [...]
For my birthday, I received one of the best gifts I have ever gotten, a subscription to MasterClass. MasterClass is an online education platform of virtual classes that are taught by experts in various field ranging from film and television to writing to culinary arts. With the receipt of this gift [...]
The COVID Pilot by the California Employment Training Panel (ETP) is designed to rapidly support employers and workers in the food supply chain and healthcare industries that have an urgent need to train newly hired staff. Potential Benefits Reimbursement for up to four hours of training costs [...]
Originally published in HLB Insights The outbreak of COVID-19 has brought unprecedented challenges to the global economy, pausing much of the activity across the world. After a long spell of record-high M&A activity over the past decade, deal-making was brought to a screeching halt as the [...]
Originally published in the Los Angeles Business Journal. The food and beverage industry as a whole is unique in many ways — and here in Los Angeles, where we have some of the best dining and food-for-purchase options in the nation, there’s perhaps an even more finely tuned set of rules for [...]
GHJ Food and Beverage Partner Donald Snyder discusses industry outlook and opportunities for companies during the COVID-19 pandemic in the Los Angeles Business Journal’s 2020 Food and Beverage Roundtable. Learn more about changes to food safety, the push for innovation and how companies are [...]
Tom Barry’s new blog series, “OWNING the New Normal: Innovators creating the way forward,” will focus on business leaders exploring the current and evolving business environment. The discussion will revolve around recognizing that leaders must innovate and pivot to “own” the future and move [...]
COVID-19 has shifted many industry sectors of the workforce. For companies that are able, social distancing measures have made remote work the new norm. Employees are transforming homes into workspaces, often simultaneously managing childcare and personal obligations. Businesses are facing [...]
In the wake of the COVID-19 stay-at-home orders, business owners should examine their company’s liquidity position and assure availability of staying power, whether or not there are additional waves of shutdowns. In this environment, it is critical to have sufficient liquidity to be both offensive [...]
Originally published in Los Angeles Business JournalThe COVID-19 pandemic has forced companies to re-invent themselves in the short term. For many, the priority has been to weather the economic fallout by maintaining adequate cash flow and ensuring overall liquidity, all while keeping their [...]
GHJ Entertainment Partner Ilan Haimoff and Guest Speaker Jeff Cole, USC Professor and Director of the Center for the Digital Future, discuss the lasting impact of the COVID-19 pandemic on the entertainment industry. How will movie theaters, studios and streaming services recover, and what does that [...]
According to the AICPA, the borrower has an option: either treat the PPP loan as debt or as a government grant. The fact that there is a choice reflects the current vast diversity of opinions on the question. AICPA Guidance The AICPA’s recent Technical Q&A states: Given the unique nature of [...]
Are you ready for the challenges of the post-pandemic world? GHJ's Managing Partner Tom Barry will be speaking with fellow HLB Leaders Jim Bourke and Andre Bueno during HLB's webinar on Monday, June 29. Register now to hear them discuss the five strategic priorities for business leaders to succeed [...]
The COVID-19 pandemic has forced companies to re-invent themselves in the short term, and now companies need to look at their long-term strategies. Originally published in the Los Angeles Business Journal, Tom Barry discusses the new normal and many transformational shifts happening for companies [...]
The COVID-19 pandemic is as unprecedented medically as it is financially. Never before has there been a period in which all business have had to collectively look at their liquidity and assess the short-term future in such a critical manner. Such situations are typically reserved for discrete [...]
GHJ Leaders Anant Patel, David Sutton and Daniel Rowe recently hosted a webinar discussing PPP loan forgiveness and its potential changes. The webinar included in-depth discussion and guidance on: Dynamics Behind PPP ForgivenessCurrent Forgiveness Model: What You Need To Know NowNew Guidance and [...]
On June 5, 2020, President Donald Trump signed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020, into law. As a result, the Paycheck Protection Program (PPP) rules have changed once again. Significant changes to the PPP program include: Borrowers can choose to extend the 8-week [...]
The COVID-19 pandemic has had a substantial impact on the global economy across all business sectors, and the food and beverage industry has seen particular hardships. The U.S. government has responded with a variety of legislation aimed at reducing the financial burden on businesses with the hopes [...]
GHJ and Nossaman LLP co-hosted their COVID-19 Updates Webinar Assessing Issues Relating to Funding Sources, Cash Flow, Contract Review and Employment/Workplace. This webinar addressed accessing emergency funding sources, strategies for cash flow forecasting, tips for reviewing contracts in light of [...]
On May 15, 2020 the SBA released the Loan Forgiveness Application Instructions for Borrowers, which included the much awaited guidance on various forgiveness questions, and also left some unanswered questions. This blog will summarize the major points raised by the document and the practical impact [...]
New Guidance On May 13, 2020, the Small Business Administration (SBA) provided guidance to Paycheck Protection Program (“PPP”) borrowers regarding the implications for eligibility certifications that were made in the borrower’s application (FAQ #46). The SBA clarified that borrowers with loan [...]
By Richard Wu (Principal) On May 6, 2020 by unanimous vote, the Los Angeles City Council adopted Ordinance No. 186606, which provides additional relief and modifies existing protections for commercial and residential tenants. This protection is retroactive to March 4, 2020 and lasts until Mayor [...]
The Small Business Administration (SBA) has extended its grace period until May 14, 2020 (previously May 7) for applicants to repay their Paycheck Protection Program (“PPP”) loans provided by the CARES Act in full if they do not meet the required eligibility in order to be deemed to have made the [...]
The State of California aims to move into Stage 2 of the state’s reopening plan by the end of this week (May 8), allowing the return of retail, manufacturing and other “low-risk businesses.” New physical distancing measures should be followed and implemented in order for these businesses to reopen. [...]
During the COVID-19 pandemic, it is noticeable that while some food items are properly stocked during store visits, some items are flying off the shelves and continually low in supply. Forgetting toilet paper, hand sanitizer and cleaning supplies (which are always in short supply), there have been [...]
As businesses look for economy recovery amid COVID-19, GHJ Media and Advertising Expert Dan Landes talks with Senior Director at Banc of California Adrian Ward and GHJ State and Local Tax Leader Frances Ellington on the opportunities the CARES Act brings for entertainment businesses in GHJ’s Media [...]
In response to the COVID-19 pandemic, Paycheck Protection Program (PPP) loans, administered under the Small Business Administration (SBA) 7(a) guaranty loan program, are being provided through local financial institutions. These loans have been made available to both for-profit and nonprofit [...]
The Centers for Disease Control and Prevention (“CDC”) released guidance for cleaning and disinfecting public spaces, workplaces, businesses, schools and homes. Each entity should consider the CDC’s guidance in preparation for re-opening business in California and across the country, which is [...]
Health Resources and Services Administration (HRSA) recently issued clarification on how fund are to be used from Coronavirus Preparedness and Response Supplemental Appropriations Act 2020 (COVID-19 H8C) and Coronavirus Aid, Relief, and Economic Security Act (CARES H8D). Background As noted in [...]
On April 30, the Federal Reserve announced long-awaited details to the Main Street lending programs. There are significant updates to the original Term Sheet announced on April 9. The Announcement There are now three programs available to borrowers, and GHJ highlights the two newly announced [...]
This data has changed due to new legislation, please reach out to your advisor to get the latest on PPP forgiveness. The Paycheck Protection Program (“PPP”) funding provided by the CARES Act has attracted much demand, to the extent that the first round of funding was depleted in just 14 days, [...]
Many private foundations and other grantmaking organizations have shifted operationally since the COVID-19 pandemic started in order to respond to grantees in need. Common responses have included: Remove restrictions and conditions from grantsWaive reporting requirements Open the application [...]
On Monday, April 27, the Health Resources and Services Administration (“HRSA”) released guidance on how healthcare providers can be reimbursed for their expenses related to the COVID-related treatment of uninsured individuals. This is based on earlier appropriations from the Families First [...]
COVID-19 is having a profound effect on the business world. While it is still unclear exactly how lasting and impactful those changes will be, it is certain they will be significant for some industries more than for others. Recent quarantines in many states have forced people to stay home, which [...]
The Treasury and SBA announced on April 28 that it intends to do a full review of applicant certifications for funded loans under the Paycheck Protection Program (PPP) in excess of $2 million. How This Will Work The announcement describes that for all loans made in excess of $2 million that [...]
President Trump has today (April 24, 2020) signed the Amendment (passed last evening by Congress), which will provide $484 billion in additional funding to the Paycheck Protection Program (PPP) , the Economic Injury Disaster Loan (EIDL) program and several other new provisions. The Amendment [...]
Recently, Federally Qualified Health Centers (FQHCs) received two sets of supplemental funding released by the Health Resources and Services Administration (HRSA) in response to the COVID-19 pandemic: $1.32 billion in CARES Supplemental Funding (H8D), appropriated through the CARES Act of 2020, [...]
Despite business disruptions amid COVID-19, organization leaders still have the opportunity to navigate through financial challenges and meet client needs. Originally published in Los Angeles Business Journal, GHJ Partner Anant Patel discusses the importance of prioritizing diversity initiatives [...]
This article was originally published in Los Angeles Business Journal The role of a business advisor has been evolving, and now COVID-19 has been a disrupter that shows the need for better and broader solutions to client challenges. A way to get there is diversity of thought, which comes from [...]
As previously noted in GHJ’s COVID-19 Updates, GHJ expects additional guidance from the Small Business Administration (SBA) to allow applicants to re-assess their initial application in light of questions on PPP eligibility for certain borrowers. Today (April 23) the SBA provided guidance in [...]
COVID-19 has affected every major industry in the past three months. Arguably the most severely impacted is the food and beverage industry. However while many restaurants are taking major losses, sales are doing well for Consumer Product Goods (CPG), packaged food and beverage brands. Raw [...]
Consumers have all been met with empty shelves at grocery store over the past weeks as most states are under stay-at-home orders. Or the grocery store might have the product but not the brand a consumer would traditionally purchase. Availability and Price Factors Consumers in the current [...]
In the CARES Act that was unveiled several weeks ago, there was a separate section that allotted close to $50 billion to the agricultural community. However, at the time of the issuance of the Act, there was relatively little information to how these funds were to be disbursed. That was until [...]
As documented through various news reports and articles, the healthcare industry has been overwhelmed by the first wave of coronavirus cases. Healthcare providers have struggled with performing necessary healthcare services as a result of several factors stemming from the lack of medical equipment [...]
COVID-19 has created uncertainty and resulted in major economic changes, which has had a chilling effect on the economy, M&A deals and capital market transactions. Deals and financings (including IPOs) that were in process at the beginning of this year are now paused. Companies and investors are [...]
M&A activity has drastically slowed down in the wake of COVID-19, especially in terms of new transactions. GHJ M&A Experts Anant Patel and David Horwich discuss the major adjustments buyers and sellers will need to make with Los Angeles Business Journal. Patel and Horwich highlight ways to make [...]
The $2-trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, has been a saving grace during the COVID-19 era. Companies industry-wide are most aware of the CARES Act’s $350-billion apportionment to the U.S. Small Business Administration (SBA) for emergency loans. The SBA’s most [...]
Last evening, the Small Business Administration (SBA) released an Interim Final Rulemaking Guide for individuals that file Paycheck Protection Program (PPP) applications. The guidance clarifies several aspects of the PPP loan application amount that were previously uncertain and provides [...]
With the race to submit Paycheck Protection Program (PPP) loan applications before the funds run out, some important questions remain unanswered. Single Audit Applicability: Will the loan proceeds under the PPP program be subject to a Single Audit? For those unfamiliar with a Single Audit, it is [...]
“Expo West is the Super Bowl of the natural food industry, and we have been preparing for it and investing in it since last summer,” said Jordann Windschauer, founder and chief executive officer of Base Culture, a Clearwater, Fla., baker of gluten-free foods. “Once all of the major retailers [...]
In addition to the Paycheck Protection Program and other provisions of the CARES Act, many companies can potentially look to their commercial insurance policies for recovery from the damaging impacts of COVID-19. Business Interruption Insurance is often the first place a company looks to in times [...]
On Friday April 10, 2020, the Department of Health and Human Services (“HHS”) began funding the first $30 billion of its $100 billion Public Health and Social Services Emergency Fund, as authorized by the CARES Act. In terms of what entities will receive this initial funding, HHS has determined [...]
The GHJ team had an opportunity on April 13 to speak with a Washington insider about issues of interest to the firm’s clients. Below are the latest insights: PPP Forgiveness Guidance: The Small Business Administration (SBA) has until 30 days past the March 27, 2020 enactment of the CARES Act to [...]
In a time of crisis it may be tempting to consider establishing a new nonprofit organization to accept and disburse charitable donations. Resist the urge! In general, working with and supporting existing charitable organizations is a more effective use of disaster relief resources. Community [...]
This morning the Treasury began implementing the Main Street Lending Program for mid-sized companies. In another section of the CARES Act, the Main Street Lending Program, there will be $600 billion in new funds made available to borrowers. The original Act intended lending be made available to [...]
The COVID-19 pandemic has been a huge disruption for just about every industry around the world. Brands, especially those deemed to be “nonessential,” have seen significant decreases in monthly revenues. With some experiencing a near stand-still in revenue generating activities. This puts brands in [...]
The stay-at-home order amidst the COVID-19 pandemic unexpectedly launched the world’s largest remote-working experiment. Over the past weeks, we have seen organizations, including our clients and our own firm, spring into action to adapt to running either a partial or a completely remote operation. [...]
As we know, Friday, April 3, 2020 was the first day for small businesses to be able to apply for the Paycheck Protection Plan (PPP) with some big banks rocking and rolling and some others slow to get out of the blocks. Slow Start As of the morning of April 3, Bank of America was the only big [...]
Last night, the Treasury Department released a series of frequently asked questions to clarify certain provisions of the Paycheck Protection Program (“PPP”) to applicants. These are: For the purposes of calculating payroll costs and headcount, there was ambiguity about the correct time period [...]
Food processing companies are considered essential businesses by most state governments and are currently permitted to stay open and continue to operate. But how are they dealing with COVID-19? Companies now need to comply with more stringent requirements and change their existing operating [...]
The AICPA is taking the coronavirus (COVID-19) very seriously. Its team is continually monitoring the virus’ impact on its members, staff, exam candidates, students and the profession.
The recently enacted CARES Act contains broad and targeted provisions that can help the cash-flow needs of real estate property owners. For residential property owners and landlords with federally backed mortgages (i.e., Fannie Mae or Freddie Mac), the CARES Act provides relief with forbearance [...]
April 3, 2020 was the first day that small to mid-sized businesses affected by the COVID-19 pandemic could apply for funding from the $349-billion Paycheck Protection Program (PPP) that is part of the CARES Act. Many media and entertainment companies are still eagerly awaiting to begin the funding [...]
According to Section 1106 of the CARES Act, a portion of the Paycheck Protection Program (“PPP”) loans can be forgiven on a tax-free basis based on the extent of certain covered expenses (i.e., payroll, rent obligations, utility payments and mortgage interest) incurred during the eight-week period [...]
Nonprofit organizations across the nation are desperately in need of support during the current COVID-19 pandemic. A new universal above-the-line tax deduction may give charitable giving a much needed boost. Currently, only individuals who itemize their taxes can claim charitable deductions. Under [...]
Originally posted in Los Angeles Daily News Expect studio battles with insurance companies and stakeholders' lawyers regardless of when production and exhibition resume. Hollywood studios and other major entertainment media entities are making efforts to treat the people who work for and with [...]
Media entities will face major consequences of cancellations and delays in filming and production as a result of the Coronavirus pandemic. GHJ Entertainment Partner Ilan Haimoff discusses the financial implications and top concerns of the entertainment market with the Los Angeles Daily News. [...]
(Updated as of 4 p.m. on 4/3) Many restaurants and small to mid-sized food companies are eagerly awaiting the start of the funding of the $349-billion Paycheck Protection Program (PPP) that is part of the CARES Act. However, lenders and applicants have not been fully informed by the federal [...]
Up next on our Movie Business Podcast Series with hosts Ilan Haimoff, partner at GHJ, and Jason E. Squire, professor at USC School of Cinematic Arts and editor of The Movie Business Book Fourth Edition, is an interview with Entertainment Analysts Harold L. Vogel. This installment dives into the [...]
COVID-19 is causing major disruption in all of our lives and will likely get worse before it gets better. The crisis affects all industries. For the food and beverage industry, labor and supply chain disruptions offer many challenges. In particular, restaurants are in varying states of collapse. [...]
Children’s Bureau of Southern California (Children’s Bureau) is one of the most trusted and innovative child and family services organizations in California and provides at-risk children and their parents with the support, tools and resources they need to be successful. Children’s Bureau offers a [...]
As we move into uncharted waters in the wake of the COVID-19 pandemic, companies are embracing – without much of a choice – 100-percent remote working for employees. Remote working for GHJ (GHJ) has become a large part of our company culture and a way for us to advocate and support employee [...]
I am writing this from Cape Town, South Africa. COVID-19 has been slow to arrive here, thankfully. However, its economic effects are starting to be felt. Similar to the U.S., schools, universities, restaurants, fitness centers and numerous other businesses are starting to close. But with an already [...]
GHJ is closely monitoring COVID-19 and how it is impacting business at a local, regional, national and global level. The firm is fully operational and offering guidance to support and collaborate with our clients through this time of uncertainty. We have closed our physical office, but technology [...]
Tax Issues Arising From “Bargain” M&A Deals
February 11, 2016
FAQ: Paycheck Protection Program Round Two (PPP-2)
December 22, 2020
Avoiding PFIC Status – Practical Considerations
May 03, 2017
Loan-Out Company: Can I Benefit From This?
August 10, 2017
