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The opportunity costs of the backdating scandal
I have blogged extensively about the waste and injustice of the overblown backdating scandal. (The posts are collected in Ideoblog’s executive compensation archive). Now we have an accounting of the opportunity costs of the SEC’s pursuit of this so-called scandal. Here’s the abstract of Choi, Pritchard and Wiechman, Scandal Enforcement at the SEC: Salience and ... The opportunity costs of the backdating scandal
TOTM on the Rise
Its been just over a year since TOTM remodeled and merged with Larry Ribstein’s Ideoblog. There have been a few other major changes between then and now: some changes in personnel and a few major blog symposia to start with. Its always difficult to judge how a blog is “doing.” At least part of a ... TOTM on the Rise
Some implications of the proxy access decision
Bloggers have had much to say about the DC Circuit’s proxy access decision. Of special note is our own Jay Verret and Steve Bainbridge, who adds a useful roundup. I have a few additional comments. First, I want to pick up on Jay’s comment that the decision shows the SEC “is an agency with too many ... Some implications of the proxy access decision
The Curious Case of the Proxy Access Rule
Well, well. It looks like the heatwave hitting DC has encouraged the Judges on the panel reviewing the SEC’s proxy access rule to finish their opinion earlier than expected. The rule has been struck down by the DC Circuit as arbitrary and capricious for failure to meet the SEC’s mandate to consider the effect of ... The Curious Case of the Proxy Access Rule
The Efficiency of Metering Tie-Ins
Have you ever had to get on your hands and knees at Office Depot to find precisely the right printer cartridge? It’s maddening, no? Why can’t the printer manufacturers just settle on a single design configuration, the way lamp manufacturers use common light bulbs? You might think the printer manufacturer is trying to enhance its ... The Efficiency of Metering Tie-Ins
Maureen Ohlhausen to FTC
Congratulations to Maureen Ohlhausen on the announcement that President Obama intends to nominate her to replace William Kovacic on the Federal Trade Commission. This is an excellent appointment. The Washington Post observes: Ohlhausen comes from Wilkinson Barker Knauer law firm, where she is a partner in the firm’s privacy, data protection and cyber security practice. ... Maureen Ohlhausen to FTC
FairSearch’s Non-Sequitur Response
Our search neutrality paper has received some recent attention. While the initial response from Gordon Crovitz in the Wall Street Journal was favorable, critics are now voicing their responses. Although we appreciate FairSearch’s attempt to engage with our paper’s central claims, its response is really little more than an extended non-sequitur and fails to contribute ... FairSearch’s Non-Sequitur Response
The First Amendment and unauthorized practice of law
I recently discussed the policy issues regarding litigation against LegalZoom for unauthorized practice of law (as well as noting my potential interest in this litigation). A recent paper analyzes the legal issues: Catherine Lanctot, Does LegalZoom Have First Amendment Rights? Some Thoughts About Freedom of Speech and the Unauthorized Practice of Law. Here’s some of ... The First Amendment and unauthorized practice of law
New on SSRN: Kobayashi and Ribstein on private lawmaking
The paper, with Kobayashi, is Law As A Byproduct: Theories Of Private Law Production. Here’s the abstract: Public lawmakers lack incentives to engage in a socially optimal amount of legal innovation. Private lawmaking is a potential solution to this problem. However, private lawmaking faces a dilemma: In order to be effective privately produced laws need ... New on SSRN: Kobayashi and Ribstein on private lawmaking
LLCs vs. corporations: explaining state variations in formations
The literature on the state “market” for LLC law is growing. Bruce Kobayashi and I published what I would modestly call the leading study (K & R) on jurisdictional competition for LLCs. There is also an unpublished study to which our article is in part a response by Dammann & Schündeln (D & S). Now there’s ... LLCs vs. corporations: explaining state variations in formations
The NYT misses the point about law schools
Today’s NYT is among the last news outlets in the universe to discover the story of legal education being overpriced for today’s job market. The article tells the tale of how NYLS’s outgoing Dean Richard Matasar, after years of lecturing about the need to reform legal education to better address its market, succumbs to legal ... The NYT misses the point about law schools
Next Friday: Debating lawyer licensing in L.A.
Here’s the info. Some of my writing is here and here. This is one of the big regulatory issues of our time. It’s not just about who makes how much money, but access to justice. The current system of compulsory licensing for the practice of law is doomed. The question is not whether it will ... Next Friday: Debating lawyer licensing in L.A.
