Print Page     Close Window     

SEC Filings

S-1/A
JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997
Entire Document
 
<PAGE>
 
February 2006. The Company has 10 United States corporate offices located in
Atlanta, Baltimore, Chicago, Columbus, Dallas, Denver, Los Angeles, New York,
San Francisco and Washington D.C. and four international corporate offices
located in London, Paris, Mexico City and Beijing. The Company's corporate
offices are each leased pursuant to agreements with terms ranging from month-
to-month to 10 years. In addition, the Company has over 300 property and other
offices throughout the United States. On-site property management offices are
generally located within properties under management and are provided without
cost.
 
ENVIRONMENTAL
 
  Various federal, state and local laws and regulations impose liability on
current or previous real property owners or operators for the cost of
investigating, cleaning up or removing contamination caused by hazardous or
toxic substances at the property. In the Company's role as an on-site property
manager, it could be held liable as an operator for such costs. Such liability
may be imposed without regard to fault or legality of the original actions and
without regard to whether the Company knew of, or was responsible for, the
presence of such hazardous or toxic substances, and such liability may be joint
and several with other parties. If the liability is joint and several, the
Company could be responsible for payment of the full amount of the liability,
whether or not any other responsible party is also liable. Further, any failure
of the Company to disclose environmental issues could subject the Company to
liability to a buyer or lessee of property. In addition, some environmental
laws create a lien on the contaminated site in favor of the government for
damages and costs it incurs in connection with the contamination. The presence
of contamination or the failure to remediate contamination may adversely affect
the owner's ability to sell or lease real estate or to borrow using the real
estate as collateral. The owner or operator of a site may be liable under
common law to third parties for damages and injuries resulting from
environmental contamination emanating from the site, including the presence of
asbestos-containing materials. See "Risk Factors--Environmental Concerns."
 
  On November 29, 1996, Galbreath received a Citation and Notification of
Penalty from the Occupational Safety and Health Administration ("OSHA")
describing certain asbestos-related violations. The citation set forth a
proposed penalty amount of approximately $150,000. Galbreath has complied with
OSHA's requests, but has denied any wrongdoing. Galbreath is currently in
negotiations with OSHA with respect to the amount due in connection with the
citation. On March 7, 1997, the Secretary of Labor of the United States
Department of Labor brought an action against Galbreath before the Occupational
Safety and Health Review Commission seeking an order affirming the citation and
the amount proposed therein. Galbreath has filed a motion for extension of time
to answer the complaint.
 
LEGAL PROCEEDINGS
 
  The Company is a defendant in various litigation matters arising in the
ordinary course of business, some of which involve claims for damages that are
substantial in amount. Most of these matters are covered by insurance. In the
opinion of the Company, the ultimate resolution of such litigation matters will
not have a material adverse effect on the financial position, results of
operations and liquidity of the Company.
 
EMPLOYEES
 
  As of May 31, 1997, following the merger of Galbreath with the Company, the
Company employed 1,322 people, including 1,096 professional staff members and
226 support personnel. None of the Company's employees are members of any labor
union.
 
  The Company has entered into an agreement with LPI Service Corporation
("LPISC"), a company controlled by a former employee of LaSalle Partners,
pursuant to which LPISC provides the services of approximately 3,000
janitorial, engineering and property maintenance workers for certain properties
managed by the Company. LaSalle Partners has an option to purchase LPISC.
Approximately 600 of the employees of LPISC are members of labor unions.
 
                                       53


© Copyright Jones Lang LaSalle, IP, Inc.