NYC, Local Counsel, and Avvo on ABC News
Late last week, I was in NYC to moderate a panel at the Corporate Dealmaker Forum. There was rain in the skies, and a sense of gloom in the air, given what’s going on with the world of finance right now. Nonetheless, and perhaps because these times necessitate a certain focus, the forum was even more engaging and interesting than usual. One fascinating section was an interview of Parag Saxena, the founder of Invesco Private Capital & New Silk Route Partners, and an advisor to the Prime Minister of India on foreign direct investment (FDI). Saxena, like the speakers who discussed FDI in China and Brazil, underscored the importance of always hiring savvy local counsel in the geography in which you are doing business.
What was really interesting, however, was Saxena’s perspective that it is easier from a local regulatory perspective (zoning, business licensing, etc.) to open a business location in India than it is to open a location in the U.S. Conclusion? Whether you’re doing business in Bangalore or Bakersfield, you need counsel who intimately know their way around the local processes.
An amusing aside to our all-too-somber corporate forum was the PR Awards gala going on in the ballroom right next door to ours at the Grand Central Hyatt. Peter Shankman, founder of the wonderful “Help a Reporter Out” service, was the keynoter I could hear the laughter from next door; all while Jim Grant (of Grant’s Interest Rate Observer) was keynoting our group with the grimmest assessment of our current economy I’ve heard yet. Not surprisingly, there wasn’t much laughter coming from our side of the wall.
On my way back to Seattle, I stopped by ABC News for an interview on Avvo’s survey of top bankruptcy lawyers, and their opinion on which candidate for president offers more hope for the economy.
