'Stay Private Longer' Debt, Misclassifying Strippers, Renting MBAs: Sept. 13

Illustration by André da Loba

The new “Stay Private Longer” debt instrument that electronics maker Jawbone used for its recent round of financing shows that startups are no longer afraid of debt, writes Dan Primack. [Fortune]

A federal judge ruled that Manhattan strip club Rick’s Cabaret misclassified employees as independent contractors. The decision follows similar rulings in Kansas, Georgia, Washington D.C., and Minnesota. [Reuters]

Rainbow Loom founder Cheong Choon Ng is suing rival companies that he says are infringing on patents behind colorful rubber-band bracelets, which are a fad with kids, according to Sarah E. Needleman and Adam Janofsky. [Wall Street Journal]

HourlyNerd, which helps companies connect with business school students for part-time consulting work, raised $450,000 from Mark Cuban, writes William Alden. [New York Times]

One small business owner will win a free 30-second ad during the Super Bowl (video). [Fox Business]

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