KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Comment on Alexia and Google listening and recording / More on leveraging by financing
/ register for financial webinars - see below
September 11, 2020
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Comment on Alexia and Google listening and recording from article on September 8, 2020
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Ken,
In your response to Dusan’s reminder that ALEXA records everything, you said, concerning liability, ‘It all gets back to how the data is used, or misused.’ While we might like to think that topic, however controversial, is actually true, we might consider an analogous example.
Barry’s Alarm Co. Inc decides to record and or watch interior cameras he has installed in your home because he is looking for ways to improve his product. He gets the proper wording tucked into his sales contract. You can take the story from there.
Hmmm. I think our criteria here centers on wealth. How much money does one have on hand to intimidate/defend against a potential lawsuit; or confuse those responsible for oversight of such a thing?
Zeke L
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Response
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I would not recommend that the alarm contract have a provision that permitted invasion of privacy like that, for any reason. It’s one thing to install audio and video, it’s another to monitor it. I guess we sort of forget that even google and amazon have people who have access to data. We wouldn’t confuse that with “Barry’s Alarm Co” having access, particularly when it was Barry who suggested cameras and audio in bedrooms and bathrooms. No contract will save you from that liability.
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More on leveraging by financing
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Ken
Re: another Comment on leveraging or financing your accounts (from article on 8/21/20 & 9/7/20)
Others have successfully comingled…including security and building maintenance. Many of your readers will recognize the name of Stewart Resnick, one of America’s richest families, listed on the famous list of Forbs Billionaires. Stewart started a building maintenance business in Los Angeles, “White Glove Services” while still in college producing both law and accounting degrees, together.
Soon thereafter bought small Long Beach alarm company with monitoring station and started a new company in Los Angeles known as “American Protection Industries/API”. To consolidate more acquisitions and organic growth. I was hired by Stewart to handle the Sales and Marketing and Jim Covert hired to handle Operations (Jim later sent to Chicago to unload a tangent acquisition, now known as SecurityLink). This is how Stewart fell in love with RMR, and realized RMR comes in many forms, including fruit and nut producing trees. He sold the security business to focus on RMR trees. Now said to be one the largest land owners with millions of RMR customers (trees) with near zero attrition. For much more fascinating business modeling by Stewart Resnick… Google his name.
Lee Jones
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Response
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Leveraging assets to spur growth is worth considering. Jim Wooster is presenting a series of webinars, promoted below. Be sure to sign up.
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WEBINAR SCHEDULE AND REGISTRATION
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Webinar Series: Financing for the alarm industry
When: September 15, 2020 12 PM ET half hour presentation and then Q&A
Topic Details: How to Use Lending to Grow Your Business - A general overview of how an alarm dealer can use lending to grow, such as making a acquisitions, buying out a partner, fueling organic growth, consolidating debt, etc.
Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com
Hosted by: Ken Kirschenbaum
Who should attend: company owners and CFOs
Register: https://attendee.gotowebinar.com/register/5986254083373814030
This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars
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Webinar Series: Financing for the alarm industry
When: September 17, 2020 12 PM ET half hour presentation and then Q&A
Topic Details: How to Finance an Acquisition - A more specific drill-down on this method of growing by purchasing the accounts of another alarm company
Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com
Hosted by: Ken Kirschenbaum
Who should attend: company owners and CFOs
Register: https://attendee.gotowebinar.com/register/4228983813536754190
This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars
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Webinar Series: Financing for the alarm industry
When: September 22, 2020 12 PM ET half hour presentation and then Q&A
Topic Details: How to Finance Organic Growth - A more specific drill-down on the many ways loan financing can help an alarm dealer grown organically through covering creation costs, enabling leasing, expansion, etc.
Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com
Hosted by: Ken Kirschenbaum
Who should attend: company owners and CFOs
Register: https://attendee.gotowebinar.com/register/3255545487536556558
This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com
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