Rush on Business : Iowa Corporate Lawyer & Attorney : Rush Nigut of Brick Gentry Law Firm : Serving Des Moines, Cedar Rapids, Davenport, & Sioux City

The Wall Street Journal recently featured Rush on Business in The Journal Report on Franchising. Other Web sites featured included MyFranchiseLaw.com and Fox Rothchild's Franchise Law Update. This blog was also featured in a Wall Street Journal article in March of 2009 as one of the blogs for prospective franchisees to read.

The Journal Report also has an interesting article on the increased demand for experience and cash from franchisees and how it is getting tougher for entrepreneurs to get in on franchises these days. One of the experts quoted explains that the margin for error in a down economy is less.  The article also discusses the fact that banks are turning down loans right and left so franchisors want candidates to look as attractive to banks as possible.

My recent experience has been that it's true that many entrepreneurs, including prospective franchisees, are having a difficult time getting loans.  Consequently, if you are considering a franchise or other business opportunity it is increasingly important to have a significant portion of the start-up costs in cash and a excellent credit score. If you don't have the cash to put into the deal, you may need to look to alternatives other than bank financing and those alternative can be difficult to find in Iowa.

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In a historic vote last night, three Iowa Supreme Court justices were ousted as a result of a controversial decision made by the court last year in Varnum v. Brien.  The Iowa Supreme Court unanimously upheld that the statute defining marriage only as a union between a man and a woman violated the equal protection clause in the Iowa constitution.  Three of the Supreme Court justices were up for retention last night and all three lost.

So where does that leave our judiciary? As I said in my last post, I think this could have a substantial negative impact on our judiciary because of the influence of special interests (i.e. big money) on the independence of our judiciary.   More than ever, we will need courageous judges who are willing to make decisions that are not always going to be popular.  History is replete with occasions where the majority rule was not always right.  Judges should not be forced to take opinion polls before deciding a case.

As I have indicated before, our Iowa judiciary has a reputation for fairness.  I don't expect that to change overnight.  I just hope Iowa voters haven't cut off their nose to spite their face.

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