Showing results for: “digital markets act”
Sprint’s (Ironic?) Campaign for Competition
Sprint, perhaps the most vigorous opponent of the proposed AT&T/T-Mobile merger, has been extolling the values of competition lately. Last Thursday and again today, the company ran full-page ads in the Wall Street Journal featuring the following text (which was apparently penned by Helen Steiner Rice): Competition is everything. Competition is the steady hand at our back, pushing ... Sprint’s (Ironic?) Campaign for Competition
WAPO Concludes that Vertical Efficiencies Trump Horizontal Market Power
A Washington Post editorial last week reached the surprising conclusion that a series of vertical and horizontal acquisitions that led to a firm owning about 40% of the gas stations in the District of Columbia was procompetitive. The editorial apparently concluded that the vertical integration efficiencies were more important than the adverse horizontal effects. The ... WAPO Concludes that Vertical Efficiencies Trump Horizontal Market Power
More on federalism and immigration
I recently discussed the Supreme Court’s latest decision not to preempt an Arizona law imposing tough sanctions on firms that employ illegal aliens. I concluded it was a close case but that there was a policy argument for the Court’s result based on Erin O’Connor and my theory of regulatory coordination. Employment laws like Arizona’s ... More on federalism and immigration
The uncorporate solution to corporate cash hoarding
Jason Zweig wrote Saturday in the WSJ about how companies are hoarding their cash. Microsoft, Cisco, Google, Apple and J & J “added $15 billion in cash and marketable securities to their balance sheets. Microsoft alone packed away roughly $9 billion, or $100 million a day. All told, the companies in the Standard & Poor’s ... The uncorporate solution to corporate cash hoarding
Immigration, preemption and regulatory coordination
The Supreme Court has issued yet another preemption opinion in Chamber of Commerce v. Whiting. The federal Immigration Reform and Control Act makes it unlawful to employ a known unauthorized alien and preempts state sanctions “other than through licensing and similar laws.” The majority held this didn’t preempt Arizona’s broad definition of license to include such ... Immigration, preemption and regulatory coordination
Nevada and the market for corporate law
I’m just catching up with this Board Member article about Delaware’s new competitor, Nevada. It notes that Nevada’s share of the out-of-state incorporation market rose from 4.6% in 2000 to 6% in 2007. Part of this may be due to lower fees than Delaware. But that can’t be the full explanation because all states are ... Nevada and the market for corporate law
From bankruptcy practice to claims trading
Am Law Daily reports (HT Dealbook) that a top Weil Gotshal bankruptcy partner left to join Claims Recovery Group LLC, which trades distressed claims against bankrupt entities. CRG’s website says that it offers creditors holding claims against bankrupt entities an opportunity to receive cash for their claims without the time and expense associated with a lengthy ... From bankruptcy practice to claims trading
The global threat to US securities laws
Today’s WSJ reports on the US’s slide in stock listings, which explains the NYSE/Deutsche Borse move. It notes that U.S. stock listings are down by 43%, or by 3800, since 1997. Listings outside the U.S. have doubled. U.S. IPOs since 2000 are down 71% from the 1990s. IPOs by VC-backed startups are down from 90% ... The global threat to US securities laws
The whistleblower rules and insider trading
The SEC has adopted Dodd-Frank whistleblower rules (see Law Blog story) which have sparked controversy because they award bounties without requiring use of internal corporate reporting mechanisms. Whistleblower organizations are happy, corporations not so much. It’s a good time to remember my proposal last year to let the whistleblowers trade: The beauty of the insider ... The whistleblower rules and insider trading
The First Amendment and corporate governance
Robert Jackson recently discussed an SEC staff ruling that the ordinary business exception for shareholder proposals under Rule 14a-8 did not justify excluding a proposal recommending that the board disclose and let shareholders vote on its policies related to corporate political spending. Jackson opines that “the decision will help bring corporate political speech decisions into line ... The First Amendment and corporate governance
Tips for Law Student Judicial Interns
Orin Kerr: If you’re a law student who is interning for a judge this summer, here’s my advice (beyond the usual advice of working hard, being professional, etc.): 1) Be incredibly nice to the secretaries. You might think judges run judicial chambers. For the most part, though, they don’t: Judges’ secretaries run judicial chambers. Judges ... Tips for Law Student Judicial Interns
Jacoby & Meyers’ lawsuit challenges the legal establishment
The WSJ writes that Jacoby & Meyers Law Offices LLP, a pioneer of television legal advertising, filed lawsuits Wednesday challenging state laws in New York, New Jersey and Connecticut that prohibit nonattorneys from owning stakes in law firms. The firm, which has more than 60 lawyers and specializes in personal-injury cases, claims that the restrictions ... Jacoby & Meyers’ lawsuit challenges the legal establishment
