Job Creators Say Sen. Dodd’s Bill Halts Economic Growth, Biz Coach

March 28, 2010 - PRLog -- Provisions in Sen. Christopher Dodd’s financial regulatory bill are well-intended but will kill job creation and the economic environment, according to Seattle Biz Coach Terry Corbell, who writes it hamstrings entrepreneurs.

“Although financial reform may be a novel idea in the wake of financial scandals exacerbating the current downturn, some provisions in Sen. Dodd’s bill are generating heavy opposition,” writes Mr. Corbell. He believes startup accounting, finance and unnecessary legal hassles will be a nightmare.

“After the monstrous financial meltdown with far-reaching consequences, most Americans probably would support a strong consumer protection agency and measures to prevent systemic risk,” he offers. “But the bill, supported by the Obama Administration, has provisions that would stifle financing of startups that have the potential to attract investors.”

Mr. Corbell writes a lot of people – from the respected Angel Capital Association to attorneys who assist startup companies – are alarmed by some portions in the 1336-page bill.

In his column, “How Sen. Dodd’s Financial Reform Would Hurt Financing of Startups,” he interviews of one the two startup attorneys in Seattle who are circulating a petition to submit to Congress.

What are the impacts?

“Huge delays that will be very harmful to companies and job creation,” responds noted attorney Joe Wallin. “YouTube was created from scratch and sold for billions in less time. The vibrancy of our early stage companies and their ecosystem would be destroyed.”

Mr. Wallin is a partner at Davis Wright Tremaine LLP.

Marianne Hudson, the executive director of the Angel Capital Association has her concerns:  

 Section 412 and 413, “Adjusting the Accredited Investor Standard for Inflation,” would prevent up to “77 percent of accredited investors” from investing in new firms.

 Section 926, “Authority of State Regulators Over Regulation D Offerings,” would complicate the raising of funds from “different states, make it unclear what entities regulate angel investments, and introduce potential lengthy waiting periods for businesses to receive their capital, possibly resulting in the death of those businesses.”

To read Mr. Corbell’s entire Biz Coach report:  http://www.bizcoachinfo.com/archives/3189.

The Biz Coach columns are also published on the Money News page at Seattle’s CBS affiliate, KIROTV.com. KIRO is the “National 2009 Edward R. Murrow Winner for Overall Excellence.”

With more than 30 years experience in best practices management and the media at CMS Associates LLC, Mr. Corbell provides insight and analysis as a business-performance consultant.

As developer of The CMS Approach for business, he has provided confidential solutions which have been equally effective in the public sector.

In finance, especially timely in this economic downturn, he provides a nine-point financial turnaround program, on a pay-for-performance basis, for a small retainer and just one percent of the net-profit increase.

He is an entertaining public speaker who engages his audience. His seminars are highly interactive, informative and fun. Each person in the audience feels Mr. Corbell is talking with them, not at them. He often draws upon his experiences in business and broadcasting and to explain his principles.

His full-range of results-oriented training seminars and classes include:

- The Seven Steps to Higher Sales
- Finance for Non-Financial Employees
- Generating Profits in Customer Service, Sales and Teamwork
- Managing for Success & Developing Leadership
- Harassment: How to Avoid the EEOC Crosshairs
- Creating Change and Managing Growth

The Biz Coach seminars’ benefits include:

1. Convenient, on-site training
2. Experiential exercises.
3. Tailored for your industry
4. Flexible class times
5. Tutorials

LinkedIn:  http:// www.linkedin.com/in/terrycorbell

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Biz Coach Terry Corbell is a business-performance consultant and profit professional. As a longtime media columnist, he publishes performance-enhancing strategies at The Biz Coach: http://www.bizcoachinfo.com, Proven Solutions for Maximum Profits.