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Bernstein on the Law Deans, Tenure, and the ABA

My colleague David Bernstein at VC points out this article in Inside Higher Ed by Doug Lederman discussing the American Law Deans Association’s criticisms of the ABA’s imposition of requirements that go well beyond “assuring the quality of legal education.” Here’s David’s take: I can certainly see the case for law schools choosing to give ... Bernstein on the Law Deans, Tenure, and the ABA

New Academic Paper on Option Backdating

Following up on this post, a new paper entitled “The Dating Game: Do Managers Designate Option Grant Dates to Increase Their Compensation?� was recently posted on SSRN (click here). The paper was co-authored by two U. of Michigan Finance professors, M.P. Narayanan and Hasan Nejat Seyhan. Here’s the abstract: We provide evidence of a dating ... New Academic Paper on Option Backdating

The FCC Payola Probe Continues

The Federal Communications Commission has announced that it is stepping up efforts in its investigation of payola practices at four radio conglomerates: Clear Channel, CBS Radio, Entercom, and Citadel, and has issued former letters of inquiry. Bill pointed me to an article in the LA Times which reports that settlement talks with the four radio ... The FCC Payola Probe Continues

Option Backdating: The Next Big Corporate Scandal?

Option backdating was on page one of the W$J again yesterday (here). The story was spurred by comments made by UnitedHealth’s CEO, William W. McGuire, during UnitedHealth’s First Quarter 2006 Results Teleconference on Tuesday. UnitedHealth’s option grants to Dr. McGuire were among those cited as suspicious by a March 18 page one W$J (article here; ... Option Backdating: The Next Big Corporate Scandal?

Manne & Williamson get results from the FTC and DOJ!

My co-author, Marc Williamson, just alterted me to this section in the recently-published FTC/DOJ Merger Guidelines Commentary (.pdf): Industry Usage of the Word “Market� Is Not Controlling Relevant market definition is, in the antitrust context, a technical exercise involving analysis of customer substitution in response to price increases; the “markets� resulting from this definition process ... Manne & Williamson get results from the FTC and DOJ!

Shameless Self-Promotion

I’ve always been puzzled by the fairly widespread custom in the blawgosphere, on listservs, etc. of referencing “shameless self- promotion� when promoting one’s work (scroll down for recent examples on this blog). The reason this puzzles me is because it implies that some people are ashamed of self promotion or perhaps that self-promotion is unseemly. ... Shameless Self-Promotion

Thank You for Smoking — And (Another) Shameless Plug

I went to see Thank You for Smoking over the weekend, expecting to endure the usual one-sided attack on the business everyone loves to hate, Big Tobacco. I was pleasantly surprised. The film undoubtedly skewers the industry a bit (as when a tobacco executive proclaims, “We sell cigarettes. They’re cool. They’re available. And they’re addictive. ... Thank You for Smoking — And (Another) Shameless Plug

Do Slotting Contracts Harm Consumers?

Warning: shameless plug of my own research to follow! Slotting allowances, or payments for shelf space, have been a central part of my research agenda for the last several years. My work with Ben Klein, The Economics of Slotting Contracts, presents a procompetitive theoretical explanation (and some aggregate data in support of our theory) for ... Do Slotting Contracts Harm Consumers?

BlogBurst Invitation

As discussed in this post, BlogBurst, a new blog syndication service, was launched last week. BlogBurst syndicates articles from hundreds of blogs for use by traditional media outlets who pay a fee to use the service. As I noted in the post, you can apply at blogburst.com to have your blog included in the service, ... BlogBurst Invitation

Exxon’s CEO didn’t really get a $398 million retirement package

There’s been a number of headlines lately (see, e.g., here and here) about the $398 million “retirement packageâ€? Exxon awarded to Lee Raymond, its former Chairman and CEO. A quick review of the underlying proxy statement, however, reveals that the headlines are materially misleading, if not dead wrong. The $398 million number comes from an ... Exxon’s CEO didn’t really get a $398 million retirement package

Ford on Lott v. Levitt and "Replication"

The Lott v. Levitt lawsuit has become a pretty popular topic for bloggers of late (see, e.g., here, here or here). My previous post with links to some earlier blog discussions is here. As many have noted, Lott’s defamation claim comes down to the meaning of the term “replicate.” Pages 133-34 of Freakonomics contain the ... Ford on Lott v. Levitt and "Replication"

E Proxy Proposal and Proxy Contests

As I’ve blogged before (see here), the SEC has recently proposed amendments to the proxy rules to allow issuers and others to furnish proxy materials to shareholders by posting them on the Web and notifying shareholders of their availability (click here for the release). One of the SEC’s justifications for the changes is that “they ... E Proxy Proposal and Proxy Contests