Month: January 2018
The new Federal law passed through healthcare reform legislation is projected to affect over 200,000 restaurants throughout the United States.
The Food Labeling Law is outlined at: http://www.fda.gov/Food/GuidanceComplianceRegulatoryInformation/GuidanceDocuments/FoodLabelingNutrition/ucm223408.htm. The highlights are as follows:
Was signed into law March 23, 2010 and requires nutrition labeling of standard menu items for chain restaurants, retail food establishments and corporate caterers with 20 or more locations, food delivery establishments, convenience stores, movie theaters, bakeries, cafeterias, airlines and trains as well as chain vending machines, food carts, lunch wagons and cookie shops.
Three major requirements are: calorie count must appear on menus and menu boards (includes desserts, beverages, takeout, and website menus); a statement must appear on the menu that puts the calorie information in the context of a total daily caloric intake; and additional nutritional information must be available upon request.
All standard menu items (including meat, poultry and alcoholic beverages) will be required to display the calories count in a type size that matches the name or price of the menu item (whichever is larger) and with the same color or contrasting background as the menu item.
Compliance is required by March 2011.
This new law presents some major challenges that restaurant owners and food services are finding daunting. These include:
Obtaining proper nutritional analysis from suppliers
Regulating specific portion control
Finding aesthetic solutions for displaying nutritional information
Updating these as suppliers change portion sizes and recipes
Restaurant owners are in a flurry trying to figure out how to display the mandated information within the confines of existing menu boards. Printed signage does not allow the flexibility for changes and updates.
But if restaurants take a digital approach to requirements of the law the last two challenges in the above list are easily solves. Now is the time for restaurants to change to digital menu boards. Why?
1.Easy to design and maintain an attractive menu board that meets the requirements of the law and stays true to restaurant brands.
2.When linked to databases, digital menu boards are dynamically updated as nutritional content changes are made and as a bonus, promotions can be scheduled to automatically start and stop at specified times.
3.Hardware and software for digital menu boards is becoming more cost effective and energy efficient.
4.Eateries using digital boards portray a sleek, updated appearance that customers are coming to expect.
Digital menu boards allow restaurants to have the flexibility to create, design and redesign until they find something that works with their particular establishment. This experimentation is missing with printed signage. Also, consider that errors of last minute changes can be fixed in a matter of seconds in one store or over a network of hundreds of stores.
Printed signage does not offer that kind of flexibility. Static menus require a complete remake of the menu board for one small error or change, not to mentions the fees involved in redesign, shipping and the wait for new menus to arrive.
Restaurant owners and franchises are rightfully concerned with the potential consequences of not meeting the requirements of the law by failing to reflect nutritional values correctly or in a timely manner. But digital menu boards free food service providers from fear since information changes are reflected immediately.
It is without question a necessity for restaurants to switch to the use of digital menu boards to meet upcoming regulation deadlines.
Where is the most reliable source for digital menu boards that will change the food service world?
With over 30 years of technology experience, Noventri provides the food service industry with digital menu boards that are at the lowest prices, the easiest to deploy andare the greenest option avai
It’s probably unfair to say that it’s a hallmark of a well-run company that it has established processes for documenting all of the processes which are key to its business. That would be easy to assert, but very hard to do. But if that principle did apply, then it would also apply to the creation and documentation of intra-group loan relationships. This includes cash-pooling arrangements, which typically amount to loans made by the various participating companies to the cash pool leader.
From a legal perspective, this is not rocket science. The key terms will include:
drawdown and utilisation of advances conditions precedent to drawdown term (repayment date) and the borrower’s ability to repay early (prepayment) interest rates, interest periods and compounding security and subordination events of default triggering early repayment, and default interest
As with any intra-group arrangements, a critical litmus test is whether directors can properly approve the terms of the loan relationship as being in the interests of each individual company of which they are a director.
From a lender’s perspective, this ‘corporate benefit’ issue is particularly relevant for loans by a subsidiary to a parent company or a sister company. It may less of an issue in the case of a loan by parent to its subsidiary, since the parent has a clear financial interest in the success of its investment. However, for upwards or sideways loans within a group structure, factors such as the borrower’s ability to repay the loan will obviously be important. It should go without saying that it’s not enough for the making of the loan to make sense from a group-wide perspective. The loan must also be justifiable from the perspective of each legal entity participating in the arrangements.
In one extreme but typical example, a group finance company made a loan of over a billion dollars to a special purpose vehicle (SPV) which used the loan proceeds to acquire listed securities in the market. The SPV was a sister company of the finance company – in other words, they were both subsidiaries of the same holding company. The loan was expressed to be repayable on demand. As was expected, the value of the securities fell almost immediately, leaving the SPV with negative net assets. It would be hard to justify those arrangements as being for the corporate benefit of the lender, in the absence of additional arrangement such as a parent company guarantee to support the borrower’s obligations.
From the borrower’s perspective, a parent company guarantee in favour of the lender doesn’t help. If the guarantee were to be called on – and the parent procured repayment of the loan amount to the lender – the balance sheet position of the borrower would not be improved. It would simply owe the same amount to the parent rather than the original lender. From the borrower’s perspective, it would therefore need some additional comfort, such as a subordination agreement with the parent or some other commitment of financial support.
Please see the following link for examples of short-form intercompany loan agreements.
http://www.groupreorganisation.com/?p=115
The first step towards finding the best lawyers in Victoria BC to represent you is understanding what type of lawyer you need. To accomplish this, you will need to understand both the specialties and sub specialties of these lawyers. Unfortunately, this can be much more difficult than it sounds. This is because, there are literally hundreds of different specialties and sub specialties within the legal profession. Luckily, the average person will only need to concern themselves with the five most commonly used specialties and sub specialties of lawyers in Victoria BC. Today, I would like to provide you with some basic information concerning these five specialties.
1. Criminal defense lawyers in Victoria BC
The specialty of criminal defense lawyers is to defend their clients against accusations that they have committed a criminal offense. This type of lawyer is typically required to appear in court several times a day on behalf of their different clients, and will often have extensive trial experience. As part of this specialty, there are also several sub specialties. For instance, there are criminal defense lawyers who choose to specialize in only one particular type of criminal case. This decision would constitute a criminal lawyer with a sub specialty. For example, a criminal lawyer who only handles capital cases.
2. Family law lawyers in Victoria BC
Family law lawyers typically operate only within the family court system. As a result, their cases generally include divorces, child custody and support hearing, adoption petitions, and juvenile justice cases. While these lawyers are capable of handling any family court case, this specialty is famous for its use of sub specialties. For instance, many family law lawyers will choose to only deal with divorce cases. Since these cases are available in such an abundance, there really is no reason for them to explore the need to take on other cases. For this reason, if you are in need of a family law lawyer it is important for you to identify whether or not they do in fact have a sub specialty.
3. Personal injury lawyers
Personal injury lawyers are responsible for seeking monetary compensation for people who are injured in a variety of different types of accidents. These lawyers typically represent individuals who have either been injured in a motor vehicle accident, been the victim of medical malpractice, or are attempting to collect workers compensation benefits after being injured on the job. If you have been injured in any way due to the negligence of another, this is the type of lawyer that you will want to hire.
4. Estate Lawyers
Estate lawyers are responsible for helping people get their legal affairs in order. For instance, the most common service provided by these lawyers is to draft and file a person’s will. These lawyers may also be able to act as the executor of your estate after you have passed on. This means that the lawyer will be responsible for ensuring that your personal property is disposed of according to your wishes. Most people will use this type of lawyer at least once in their lifetime.
5. Civil lawyers
Civil lawyers are available to help you pursue legal matters that are not of a criminal nature. For instance, if you wish to file a lawsuit against someone who has defrauded you out of money that is due to you, you would turn to a civil lawyer to pursue this matter. Generally speaking, any legal matter that would require the intervention of a civil court judge will be handled by a civil lawyer. There are also many sub specialties within this legal specialty so be sure to choose carefully when selecting a civil lawyer.