In This Issue:

- Message from the Managing Partner

- Amazing Clients®: ACell: Medical Miracles - The Age of Bionic Reconstruction Arrives

- Rethinking Today’s “Fixed Income” Investments

- Can Gray Market Goods Be Stopped?

- Excerpt from Message from the Managing Partner:

This past year started with a cautious optimism about the direction the economy was taking. Our clients were eager to move forward, our attorneys eager to help them. Everyone seemed to have plans to do new things, but then life took over. 2012 was filled with events which pulled us in many different directions – the yearlong political campaign which seemed to be divisive instead of uniting; hurricanes and tropical storms; terrorism at home and abroad; and an on-going war. It was easy to lose focus on what we are all striving for, on what is important.

Our clients are important; our staff and our families are important. Having challenging and interesting work is; doing good things in the community is. In spite of the international turmoil, at Burns & Levinson we were able to keep our focus this past year.

Many of our clients are doing exciting things, expanding in a variety of industries, including technology and life sciences, new media, digital technology, online and traditional commercial ventures, apparel, and wherever the economy is taking them. In 2012 we assisted them with finding and providing financing, buying and sometimes selling companies, taking them public, and helping them open new offices both domestically and internationally. Our private equity clients are putting money to work in the growing sectors of our economy, and our venture capital clients are financing cutting-edge science and technology start-ups led by some of the greatest entrepreneurs in the world.