The Archives

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Henry Manne and Corporate Democracy

On January 2, 2007, Dean Henry Manne published a column in the WSJ regarding corporate democracy.  In this column, Manne takes a stab at shareholder voting and corporate democracy.  Manne maintains that shareholder activists are deluding themselves with the phrase “corporate democracy” in that only the controlling s/h have and will ever have a true voice ... Henry Manne and Corporate Democracy

UCLA Law Hires Doug Lichtman

So says Eugene Volokh, so it must be true.  This strikes me as a wonderful hire for my alma mater and a big loss for Chicago.  Congrats to UCLA and to Professor Lichtman.

Happy Milton Friedman Day

From the Milton Friedman Day website: Dr. Milton Friedman was perhaps the most influential economist of the 20th Century, and the impact of his ideas will extend far into the future. To honor the man, January 29th is declared as Milton Friedman Day – a celebration of the economist’s positive impact on American life and ... Happy Milton Friedman Day

AMC Releases Tentative Recommendations

The tentative recommendations of the Antitrust Modernization Committee are out, and include Commissioner vote counts for various propositions. The recommendations largely take the form of propositions that the AMC Commissioners joined, did not join, or were undetermined. Here are a few that caught my eye on an initial read-through (note that 2-5 apply to merger ... AMC Releases Tentative Recommendations

Henderson on Judicial Pay: Constitutional Crises Everywhere or Nowhere?

Bill Henderson has a nice post on Chief Justice Roberts’ claim that judicial pay has reached the point of creating a “constitutional crisis.” Lots of bloggers (see, e.g., my colleague Ilya Somin at VC) have made the point that they are not impressed with the data the Chief has mustered in favor the assertion that ... Henderson on Judicial Pay: Constitutional Crises Everywhere or Nowhere?

Josh Wright, Antitrust Superstar

The FTC announced this week perhaps its best decision since . . . well, ever:  Chairman Deborah Platt Majoras today announced the appointment of Professor Joshua Wright to the newly created position of Scholar-In-Residence in the Bureau of Competition of the Federal Trade Commission. With this new position, the Commission will invite an academic expert ... Josh Wright, Antitrust Superstar

Steamy Espresso

A few weeks ago, I suggested that Belvi’s antitrust suit against Starbucks is weak and ought to be dismissed. This report in today’s Seattle Times further strengthens the case for dismissal. Competition in the Seattle market for espresso is apparently more intense than Belvi’s complaint would have us believe!

"Loyal" Directors in Delaware

In November of 2006, the Delaware Supreme Court issued an opinion in Stone v. Ritter dealing with a director’s fiduciary duties in cases where the complaining plaintiff-shareholder is maintaing that her directors did not sufficiently monitor their corporate charge. (I refer to these “oversight” cases loosely as “asleep at the wheel” cases.) There has been ... "Loyal" Directors in Delaware

Consumer Reports: Car Seats Might Be Safe After All

Consumer Reports has recalled a study of rear-facing infant car seats that claimed that many seats failed crash tests using standards tougher than the National Highway Safety Traffic Administration’s. Apparently, NHSTA contacted Consumer Reports after reading the study and concluded that: “The organization’s data show its side-impact tests were actually conducted under conditions that would ... Consumer Reports: Car Seats Might Be Safe After All

Antitrust Superprecedent

Shubha Ghosh, of the Antitrust & Competition Policy Blog, is predicting that the Supreme Court will not overrule the 1911 Dr. Miles decision, which holds that “vertical minimum resale price maintenance” (i.e., a manufacturer’s imposition of minimum resale price for his goods) is per se illegal. Ghosh explains: [T]he grant of cert in Leegin is ... Antitrust Superprecedent

In My Mailbox …

“I am very sorry to report that your Social Security number was among the 28,600 illegally retrieved.  This does not mean that you are the victim of identity theft or that we have evidence of your Social Security number being misused. And it is important to know that the database does not include banking or ... In My Mailbox …

Becker and Posner on "Libertarian Paternalism"

Becker and Posner take on “libertarian paternalism” this week. The entries are both worth reading, especially for the parts where these co-bloggers disagree. Here are my favorite passages from each.  First, Posner attempts to distinguish his previous defense of the NYC trans-fat ban from good old-fashioned paternalism: It might seem that the good could be ... Becker and Posner on "Libertarian Paternalism"