Dore Law - May 2020

THE D or É R eport

D ore L aw . com

MAY 2020

WHAT THE INDUSTRY OUTLOOK MEANS FOR YOU AND HOW OUR FIRM CAN HELP YOU WEATHER THE STORM

Things are moving at a lightning pace right now. It seems like every hour, if not every minute, I get an update on our evolving situation as an industry, a state, and a county. That’s why it intimidates me that, due to the nature of print publication, you’ll likely be reading this article a full month after I write it. What can I tell you that you won’t already know? Well, my guess is that a month from now you’ll likely be in even more desperate need of something — anything — positive that you can use to advance your interests and the interests of your company and family. Those interests all intersect. I know that. And I know how much you rely on the information and data our firm compiles for your projections and decisions. With that in mind, I want to give you both an industry overview and an update on immediate actions we can take, and are already taking, for you.

• Everyone had a remote office at the kitchen table, and we all became Zoom experts overnight (or tried to).

Knowing all of that, here is what we are doing, and will continue to do, for you:

1. For Your Family: We will prepare

Durable Powers of Attorney for Health Care and Declarations to Physician documents for you and your family members at no charge. Just call. We can schedule a Zoom video conference to handle the virtual notary process. If anyone doesn’t have a will, we can discuss this need and assist as well.

Congressional Stimulus Bill Will Impact Me.” We have more in the works. By the time you read this, you should have already received notice of one that fits your needs.

4. For Your Future: Inside of this

newsletter, you will see that we added two new attorneys to our team on March 23, the first day of shelter-in-place for many of us. We know our expertise in the protection of your accounts and customer relationships is important to you, and we want to make sure you have the best, most comprehensive team in your corner. My team and I here at Doré Rothberg McKay recognize that many of our clients and friends are weathering hard economic times and being forced to make difficult decisions. We will do our best to help when you need us and work to ensure every dollar you spend on our services produces the largest possible return. Remember, no matter how dark things get, we’re always just a phone call away. -Carl Doré

2. For Your Company: Many of you are

already on our distribution list for the Bankruptcy Alert. If you’re not, just call to join. Every morning, we review all new business bankruptcies filed in the U.S. If any of those businesses are in the energy sector, we send out notifications with the information you need to make decisions on continuing work, suspending activity, filing preference claims, and all of the other immediate decisions you’ll need to make when your customer files for bankruptcy.

Here is what we knew at the end of March:

• Oil was $20.48 per barrel. • Natural Gas was $1.54 per mcf. • Those figures indicated much of

domestic U.S. production was marginal or uneconomic. • E&P companies were cutting spending projections, service companies were furloughing or cutting staff, and equipment sales and auctions were virtually halted. • Real estate markets were frozen in place, tenants couldn’t pay, and landlords couldn’t extend.

3. For Your Team: We are preparing a sequence of 15–20-minute webinars that will help you educate your team on economics. Immediate topics

include: “Master Service Agreements,” “Preference Claim Defenses,” “Critical Vendor Status,” and “How the $2 Trillion

281.829.1555 • 1

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