Showing results for: “digital markets act”
Choice of forum and corporate governance
Choice-of-forum provisions are potentially important in all contracts. Not only can they match the parties with expert and efficient adjudicators, but they can reinforce a choice-of-law clause because courts tend to apply forum law. See The Law Market, Ch. 4. Choice of forum is getting a lot of attention in corporate law. Delaware has long ... Choice of forum and corporate governance
Is Delaware uncorporate law unconstitutional?
It is well known that Delaware unincorporated entity statutes (e.g., 6 Del. Code Section 18-1101) permit the waiver of all fiduciary duties, not only of care, but also of loyalty. Now along comes Lyman Johnson, a respected corporate scholar, to argue, in Delaware’s Non-Waivable Duties that those statutes violate the Delaware constitution (HT Pileggi). Johnson ... Is Delaware uncorporate law unconstitutional?
Nobel Speculation Time
Every year around this time, I repeat my prediction that Armen Alchian, Harold Demsetz, and Ben Klein will win the Nobel Prize for contributions to the theory of the firm, property rights, and transaction cost economics. I understand that last year’s prize makes this combination less likely, but I see no reason to deviate. I ... Nobel Speculation Time
DeLong on Henderson III
On October 3 I wrote: The DeLong point I want to focus on is his last: “I genuinely do not understand why Henderson has his job.” By which he means Todd’s law professor job. DeLong’s sole reported basis for this is a post, not by Todd, but by my co-blogger Jay Verret, who refers to a ... DeLong on Henderson III
Misbehavioral Economics: The Case Against Behavioral Antitrust
In a policy speech earlier this year, Commissioner J. Thomas Rosch of the Federal Trade Commission advocating the incorporation of behavioral economics into antitrust analysis suggested one concern that others might have with the approach was that “behavioral economics was simply liberalism masquerading as economic thinking.” The Commissioner himself has been a vocal proponent of ... Misbehavioral Economics: The Case Against Behavioral Antitrust
Thomas and Wells on executive compensation
We recently welcomed Harwell Wells to the Illinois Corporate Colloquium to discuss his and Randall Thomas’s Executive Compensation in the Courts: Board Capture, Optimal Contracting and Officer Fiduciary Duties. The paper suggests a new approach to controlling executive compensation: the courts. The paper is partly historical, noting that courts have, in fact, been “surprisingly ... Thomas and Wells on executive compensation
Cooper and Wright Working Paper Cited in Congressional CARE Act Hearing
I’ve mentioned the CARE Act previously (here and here). On Wednesday, the House Committee on Courts and Competition held a hearing on the revised CARE Act — which would effectively immunize a host of anticompetitive state alcohol regulations from challenge. The policy tradeoffs here are that the higher prices and reduced consumption associated with competitive ... Cooper and Wright Working Paper Cited in Congressional CARE Act Hearing
Brad DeLong on Todd Henderson
More than two weeks ago, my co-blogger was subject to one of the most remarkable attacks I’ve seen in the blogosphere. I have declined so far to participate in the mostly hot-headed debate. But I write now because last Friday, J. Bradford DeLong, whose personal attack on Todd a couple of weeks ago was one ... Brad DeLong on Todd Henderson
McDonald’s, Mini-Meds, and Medical Loss Ratios: What’s to come, and what can Sebelius do about it?
Yesterday, the Wall Street Journal ran an article entitled McDonald’s May Drop Health Plan. The article reported that “McDonald’s Corp. has warned federal regulators that it could drop its health insurance plan for nearly 30,000 hourly restaurant workers unless regulators waive a new requirement of the U.S. health overhaul.” The insurance plan at issue is ... McDonald’s, Mini-Meds, and Medical Loss Ratios: What’s to come, and what can Sebelius do about it?
A fourth of Big Law is about to disappear
Am Law Daily reports on a Hildebrandt analysis (HT Law Blog) predicting “that nearly 27 percent of the 65,000 non-partner positions at Am Law 200 firms could be cut or recategorized as lower-paying positions over the next five to seven years.” Causes include “flat demand for legal services,” price pressure from clients, outsourcing, Six Sigma ... A fourth of Big Law is about to disappear
A Plug and Some Links
I’ll be talking about the Intel Settlement in an ABA program, The Intel Settlement: A Perspective From the Trenches, today at lunchtime along with a great group of panelists with a wide variety of perspectives on the issue, Kyle Andeer (FTC Counsel), Ken Glazer (KL Gates), and Henry Thumann (O’Melveney & Myers). If you’re interested, ... A Plug and Some Links
The disgrace of the legal services market
The WSJ Law Blog discusses N.Y.C.’s Chief Judge Lippman’s campaign to solve the growing problem of poor people facing civil cases without lawyers – 2.3 million people in all state courts last year. Lippman wants more funding for legal aid lawyers. The main existing funding mechanism, the Interest on Lawyer Account Fund, has been depleted ... The disgrace of the legal services market
