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Blog Posts in April, 2009

  • What Does A Colorado Construction Company Need To Know About A Catastrophic Risk Of Loss?

    Over the years, I have had Colorado general contractor clients ask me what their biggest liability risks are for buildings they build or own. I imagine insurance carriers for those business construction company clients have asked themselves the same thing. What I have told my clients is that there are many ways to measure a risk or loss. However, if a catastrophe is a loss that can result in total ...
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  • New US Department of Transportation Consumer Program for Child Safety Seats Will Help Parents Choose the Products that Best Fits Their Cars

    The US Department of Transportation says that it is designing a consumer program to help parents and others select the child car seats that are the best fit for their motor vehicles. The new program will involve auto manufacturers recommending which child car safety seats should go with each vehicle. This initiative will go into effect at the start of the 2011 model year. Transportation Secretary ...
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  • Tips to Colorado Investors for Investigating Asset Managers

    If you’re like most Colorado investors trying to figure out who they should trust with their investment decisions, you rely on the recommendations by word of mouth from your friends, neighbors and family. Bad, bad, bad! We are grateful for recommendations of a fabulous new restaurant or a new hotel with an ocean view. If we screw up on a restaurant or hotel, we haven’t drained our bank accounts. ...
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  • Bus Safety Advocates Call For Better Federal Safety Regulations to Minimize Injuries and Deaths on Commercial Buses

    Government investigators and bus safety advocates want the federal government to come up with stronger safety regulations for the US commercial bus industry. The call came at a National Transportation Safety Board hearing this week when investigators announced that speeding was the cause of a deadly 2008 bus accident in Utah. At the hearing, federal investigators said speeding and driver fatigue ...
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  • What is a Colorado Auditors "Due Diligence" Responsibility?

    About a week ago, in a post titled Colorado Business Litigation: Does Colorado Recognize a “Declaimer Defense” for Feeder Funds? I reported that sophisticated auditors for feeder funds sometimes rely upon disclaimers as a “pretend justification” for ignoring their due diligence responsibilities to their feeder fund clients. For example, the national accounting firm of BDO Seidman knew that its ...
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  • IIHS Crash Tests Reveal that Bigger and Heavier Motor Vehicles Exhibit Greater Occupant Protection During Auto Collisions

    According to the Insurance Institute for Highway Safety, extra vehicle weight and size add up to more occupant protection during auto collisions. This means that people who choose to buy smaller cars because they are more economical in terms of price and gas usage could be compromising personal safety. The Insurance Institute for Highway Safety conducted three front-to-front crash tests. A minicar ...
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  • Legal Roadblocks of Colorado Business Litigation Feeder Fund Claims

    Ina previous blog post, Madoff’s Ponzi Scheme: Feeder Fund Liability, I discussed a Denver based investment firm who, as a feeder fund, found themselves tangled up in Madoff’s Ponzi Scheme. I would now like to look at some of the challenges of litigating these types of cases. Colorado business litigation suits against feeder funds include claims for fraud, negligence, and breach of fiduciary duty. ...
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  • Colorado Business Litigation: Does Colorado Recognize a "Declaimer Defense" for Feeder Funds?

    One of Madoff’s victims was a feeder fund named Ascot Partners. New York Law School invested $3,000,000 of its endowment funds in Ascot. When Madoff’s scheme fell apart, Ascot was unable to repay New York Law School its $3,000,000 investment. In recognition of the substantial legal and practical roadblocks to a lawsuit against Madoff and the feeder fund Ascot, New York Law School instead sued BDO ...
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  • Recent Nursery Products Recalls of Play Yards, Pacifiers, and Cribs are Issued to Prevent Entrapment, Suffocation, Choking, and Fall Accidents

    Already this month, the Consumer Product Safety Commission has announced the recall of three nursery products. The recalls are an effort to prevent potentially catastrophic accidents from causing injury to or killing young kids. On April 2, the CPSC, with the cooperation of SunTech Enterprises, let the public know that about 1,900 convertible cribs were being recalled and any returns would lead to ...
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  • Madoff's Ponzi Scheme: Feeder Fund Liability

    The simple Ponzi scheme, as drawn up by Charles Ponzi himself in the early 1900’s, involved one schemer recruiting suckers one by one. While this is effective, it is not nearly as efficient in an “earnings by the hour” analysis. To increase the scam’s efficiency, it requires big suckers, not little ones. Bernie Madoff wanted to earn the big bucks. In order to do that, Madoff knew he would have to ...
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  • Crocs Sued Again for Products Liability After 4-Year-Old Nearly Loses Toe in Escalator Accident

    The parents of a 4-year-old boy are suing Crocs Inc. for products liability involving injuries to a minor. The boy almost lost his toe during an escalator accident at the Miami International Airport last month. The $6 million Florida personal injury lawsuit accuses the rubber clog maker of failing to warn that a person wearing Crocs risks injury in the event that the clog were to ever get caught ...
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  • Evenflo and CPSC Recall Over 700,000 High Chairs Because Faulty Screws Could Pose a Choking or a Fall Hazard

    The Consumer Product Safety Commission is announcing that Evenflo is recalling over 700,000 high chairs. The product manufacturer is concerned that faulty screws on the chairs could pose a choking or fall hazard for children. Approximately 643,000 Evenflo Envision High Chairs and 90,000 Majestic High Chairs are being recalled. The Majestic recall is an expansion of an earlier recall of some 90,000 ...
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