Before I talk about us, let's talk about them. Regarding the bailout bill, from the Wisconsin Restaurant Association:
As a result of the restaurant industry’s presence on Capitol Hill during these historical proceedings, one of the restaurant industry’s key agenda items was included in the bailout bill. Depreciation for restaurant construction and improvements was accelerated from 39 1/2 years down to 15 years.
I hate that @#$%. Yes, changing the depreciation schedule is good for the restaurant industry. No, the change doesn't hurt anyone else. Yes, I know that sidestepping the legislative process is Standard Operating Procedure for Congress and that people need to play the game to get things done. The loophole works both ways, though - Team Evil is equally capable of attaching unrelated contingents to bills that require urgent passage. That's how Wisconsin's idiotic Brewpub Tourism Development Act got passed last year. I hope the craft brewing community continues to beat that dead horse until brewing companies like Goose Island and Dogfish Head can legally exist in Wisconsin once again. I want that dead horse on television. How awesome would a New Glarus beer hall be, all serving cheese and sausage platters on the grounds of their new production facility?
Anyway, I have a Private Placement Memorandum (PPM) written and I'm scheduled to meet with a lawyer next week. I don't know if writing the document myself will make life easier or harder on lawyers, but at least Jane and I will have options. The big reason for seeking legal advice is to determine how our capital needs and various investment-solicitation strategies will affect which securities registration exemptions we'll qualify for. The following week, we'll be meeting with the city's Office of Business Resources to outline the city's involvement in our project. Our business plan's proposed timeline is pretty sad, so hopefully the city will help us straighten it out a bit.