Blogs

Blogs

Security Breaches proving to be EXPENSIVE!

Leisa Gill

03/14/2012 - 11:05am

Yesterday Computer World posted and update to the 2009 data breach that had already cost BlueCross Blue Shield of Tennessee nearly $17 million, now has added another $1.5 million to be paid to the U.S. Dept of Health and Human Services for a HIPAA violation related to the breach.

Goal Setting is just SMART!

Leisa Gill

02/22/2012 - 9:58am

Last night I attended this meeting where they guest speaker was a Sports Psychologist; in fact, she deals with extreme sport athletes. What she shared over the next 15-20 minutes was a reminder of why it is important to set goals and have the right mindset.
Most people have heard of S.M.A.R.T. goals and the acronyms often take on a slight difference. For this session they stood for S-specific, M-...

CFO and CIO Unite to Battle Security Breaches

Leisa Gill

11/23/2011 - 3:32pm

Great article in CFO World regarding corporate data breaches and how company CFOs and CIOs must work together to prevent security risks. Three major “headline grabbing” breaches included Sony, TJ Maxx, and Hannaford supermarkets. Each knows from experience how costly a breach can be to a company. These are big name companies, but don’t think that smaller businesses are exempt, because they...

Networking - A Must Do!

Leisa Gill

10/12/2011 - 10:45am

Networking strikes fear in people almost as much as visiting the dentist! However, for each of us to grow our network both personally and professional it is absolutely necessary. I have found it very interesting at times to find out someone I needed to meet was only few degrees of separation from me. By keeping it simple, I find that there is far less stress in networking and fewer things to remember. Here...

Chris Lovin

05/03/2011 - 8:31am

Christopher M. Lovin, Partner in LBMC’s Valuation, Litigation & Business Transition Services Group, has been invited to speak at a seminar that is important for all closely-held business owners. The seminar, entitled Business Ownership Succession Planning, will be held in Nashville, Tennessee on Thursday, August 4, 2011, at the Doubletree Hotel located at 315 Fourth Avenue...

Chris Lovin

04/27/2011 - 4:43pm

The following link to the Journal of Accountancy will take you to an article regarding proposed changes in the process for testing for goodwill impairment. The article also contains a link to the FASB's exposure draft.

http://www.journalofaccountancy.com/Web/20114099.htm

Let us know what you think about this proposal.

Chris Lovin

04/27/2011 - 3:41pm

This entry continues a blogging convergence of two things that I love –business valuation and baseball, 7-year old peewee baseball. I hope that this series of blogs will be thought-provoking and entertaining as you reflect on your company’s situation knowing that you will transition ownership of the company at some point in the future.

Chris Lovin

04/20/2011 - 9:00am

Chris Lovin

04/13/2011 - 2:02pm

Today will mark a blogging convergence of two things that I love –business valuation and baseball, 7-year old peewee baseball. I hope that this series of blogs will be thought-provoking and entertaining as you reflect on your company’s situation knowing that you will transition ownership of the company at some point in the future.

Tax Season is Similar to The New Year

LBMC

04/06/2011 - 9:53am

tax papers In many ways, tax season is similar to the New Year. How could that be? Tax season is full of anxiety and deadlines, whereas New Year's is full of parties and fun. The similarity is that, like New Year's, tax season is a time when many of us...

Divorce Wars

Chris Lovin

03/30/2011 - 1:39pm

CNBC has a new show called Divorce Wars (www.cnbc.com/id/41193264). The show's preview and web site contain many of the same elements that we deal with every day in cases whether there are many assets at stake or there is only one primary asset at stake (for example, a closely held business or a stock portfolio). Unfortunately, emotion, resentment, suspicion and...

LBMC

03/30/2011 - 9:58am

The NLRB-filed "Facebook Firing" case – which had been set for a hearing in late January – has instead been privately settled. The case involved a Connecticut employee who was fired for violating the employer's written policy barring employees from describing the company "in any way" on social media sites.

When is the Right Time to Sell My Company?

Chris Lovin

03/23/2011 - 11:04am

I met last week with a business owner who had a question about the value of his company. He is hoping it is worth at least $20 million but has no idea if that is reasonable. He founded the company several years ago, operates in a small niche and has grown the company into a market leader for the technology that his company develops. (Writer’s note: The fact that this company is a market leader and the owner...

Zero Day Attack Preparation

Security and IT...

03/21/2011 - 8:42am

Last week Adobe announced yet another vulnerability identified in Flash, affecting Windows, Macintosh, Linux, Solaris, and even Android.

The vulnerability allows an attacker to overtake a system when a user unsuspectingly opens an Excel file with an embedded flash animation. As a part of the announcement, Adobe explained that...

The Nashville Business Journal Ranks LBMC #1

LBMC

03/09/2011 - 12:25pm

This week the Nashville Business Journal featured the 5 “Top of the List” accounting firms in Middle Tennessee. Lattimore Black Morgan and Cain has been ranked #1 in the Middle Tennessee area for 2010-2011. The Brentwood-based firm has 240 professionals* and a total staff of 256 in middle Tennessee. LBMC also has offices in Knoxville and Chattanooga, Tennessee and totals roughly 400...

Are Your Security Tools Exposing Your Network?

Security and IT...

02/22/2011 - 10:04am

I recently performed a penetration test for a large company with a mature security program in place. They regularly get audited and have multiple companies perform security assessments and penetration tests. So, I was unsure how successful I would be given their strong security posture. During our internal penetration test we found strong controls in place and it wasn’t looking good for our team to break in...

Security and IT...

02/16/2011 - 10:14am

Here at the IT Security blog, it is easy for us to say things such as, “…you need to make strong passwords! You know, with numbers, and letters, and symbols, lots of characters! Things like “Kd03E#L0(@.” Yes, that’s a good password.”

As a reader, it is easy to sit in your chair, roll your eyes, and think, “…but that’s so impractical! How could I...

Security and IT...

02/09/2011 - 9:14am

Finders keepers. Depending on your place in the pecking order, you either heard or recited that adage at recess. It was written somewhere in the playground Magna Carta. Usually the “lost” item wasn’t really lost at all, but more likely lifted by an instigator during a moment of opportunity.

SBA Loans: Valuation Requirements

Chris Lovin

02/03/2011 - 4:24pm

The Small Business Jobs Act approved in September 2010 provided the SBA with enough funding to support $14 billion in lending to small businesses. The Act also permanently increased loan limits from $2 million to $5 million making SBA-backed loans a key source of capital for small business owners. LBMC is going to host an informational meeting and networking hour to discuss business valuation...

Security and IT...

02/02/2011 - 9:32am

Last week, when Apple hired David Rice as the new Director of Global Security interest in this question once again was renewed. David Rice is very well educated and widely known industry expert. He graduated from the U.S Navel Academy with a degree in Information Warfare. Aside: This is really cool stuff that we on the private side don’t get the opportunity to do or at least are not supposed to do....

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