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Home > Media > Asset Protection News

Asset Protection News

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Know Your Accountant, Attorney & Practicioner!

Tuesday, July 22, 2008 at 05:13PM | Post a Comment
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There has been much scrutiny in the banking and legal arena to “know your client.” It is important for everyone in every industry to know his or her client. Recently, it has become even more important to “know you lawyer.”

Current news about changes in the economy have stressed most all businesses and individuals in some way. Many professions have boards who monitor professional standards and codes of ethics. These boards are developed from within the profession and govern things like certifications and standards. These boards often set the standards in court as a guide for prosecutors and litigators.

When it comes to law, lawyers are bound the American Bar Association’s Model Rules of Professional Standards. However, the standards are likely to vary within the practice field causing proliferations of the rules for differing practice areas. Recently lawyers have sought to regulate the bar making them the advocates, the advisors and the gatekeepers as well. One lawyer is not determining how another lawyer should act ethically and morally.

Fragmentations within the American Bar tend to be handled by the federal courts leaving state regulations shattered and placing strain on attorneys and their practice fields. For example the codes in the past have left

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Pittsburgh Steelers for Sale in the Name of Asset Protection

Tuesday, July 22, 2008 at 08:55PM | Post a Comment
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The Pittsburgh Steelers are a $2500 family venture, capitalized in 1933, now valued at close to one billion dollars. That is quite a family asset.

You may be surprised to hear that the Pittsburgh Steelers NFL franchise is for sale in the name of Asset Protection. The Rooney family has owned the Pittsburgh Steelers for 76 years. That is a good long-standing business now valued at around a billion dollars. Why are the Rooneys selling and why is it for Asset Protection.

Team chairman Dan Rooney, the oldest son of late team founder Art Rooney, wants to remain in the football business, but some of his four brothers want to get out of the NFL to focus their business interests on their racetracks and other ventures. Dan Rooney, and his son, Steelers president Art Rooney II, are working out a financing plan to buy Dan's brothers' shares in the team, according to the statement.

The other Rooney brothers - Art Jr., Timothy, Patrick and John - each have an ownership interest in the Steelers. Another related family, the McGinleys, also owns a minority interest in the team. The Steelers already have minority ownership

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