Showing results for: “digital markets act”
The Airgas decision
So Chancellor Chandler, in deciding Airgas, preserved the board’s power to decide when to sell the company. If a company’s shareholders don’t like it, they need to replace the board. If shareholders generally don’t like it they need to change the Delaware statute. In upholding the board’s power, and confirming what most astute observers knew ... The Airgas decision
Revisiting the Theory and Evidence on State CPAs and FTC Act Section 5 Follow-ons
One of the most fundamental issues in the ongoing debate concerning the costs and benefits of expanded FTC Section 5 enforcement is the extent to which one must be concerned with its collateral consequences. A central claim of proponents of a broad interpretation of Section 5 coupled with its aggressive enforcement is that concerns with ... Revisiting the Theory and Evidence on State CPAs and FTC Act Section 5 Follow-ons
On the ethical dimension of l’affair hiybbprqag
Former TOTM blog symposium participant Joshua Gans (visiting Microsoft Research) has a post at TAP on l’affair hiybbprqag, about which I blogged previously here. Gans notes, as I did, that Microsoft is not engaged in wholesale copying of Google’s search results, even though doing so would be technologically feasible. But Gans goes on to draw ... On the ethical dimension of l’affair hiybbprqag
American Economic Review’s Top 20 of the Last 100 Years
The paper is here (HT: Steve Salop). The AER’s The Top 20 Committee, consisting of Kenneth J. Arrow, B. Douglas Bernheim, Martin S. Feldstein, Daniel L. McFadden, James M. Poterba, and Robert M. Solow, made the selections. The list is alphabetical, of course, but TOTM readers will observe that it starts off particularly well (see ... American Economic Review’s Top 20 of the Last 100 Years
Now online: Rules for Growth
A formidable group of academics has collaborated in volume that has now been posted on SSRN: Rules for Growth: Promoting Innovation and Growth Through Legal Reform. Here’s an excerpt from the abstract: The United States economy is struggling to recover from its worst economic downturn since the Great Depression. After several huge doses of conventional ... Now online: Rules for Growth
Private equity and corporate jets
I’ve written about the benefits of private equity’s “uncorporate” discipline, including owner exit rights and high-powered compensation, in reducing managerial agency costs in large firms. See my Partnership Governance of Large Firms and the longer version in Chapter 8 of my Rise of the Uncorporation. Here’s some more evidence: Edgerton, Agency Problems in Public Firms: ... Private equity and corporate jets
Pay gaps as big law’s death rattle
Today’s WSJ reports on more evidence of the death of big law under the headline “Pay Gap Widens at Big Law Firms as Partners Chase Star Attorneys.”: Some of the biggest law firms are paying outsize salaries to star attorneys, in some cases 10 times what they give other partners, in a strategy that is ... Pay gaps as big law’s death rattle
Gladwell on US News
Malcolm Gladwell tackles US News college and law school rankings in the 2/14 New Yorker (subscription required). The result is the usual Gladwellian light-headedness, a lot of cleverness but best taken like most situation comedies, without a lot of reflection. Gladwell begins by making the simple and unarguable point that you can’t capture the quality ... Gladwell on US News
Judicial dissolution of NY LLCs
In my recent paper, Close Corporation Remedies and the Evolution of the Closely Held Firm, written for a symposium on the famous Massachusetts close corporation case Wilkes v. Springside Nursing, I focused on the LLC alternative to close corporations. I observed that by providing a clearly non-corporate structure of default rules and a variety ... Judicial dissolution of NY LLCs
Cat groomers and lawyers
What do cat groomers, tattoo artists, tree trimmers, music therapist, locksmiths, caterers, hair stylists, florists, flower arrangers, interior designers, private detectives, hearing-aid fitters, conveyor-belt operators, frozen dessert retailers, hair-salon “shampoo specialists,” glaziers, librarians, nutritionists, respiratory therapists, athletic trainers, boxing promoters, eyebrow threaders, acupuncturists, tattoo artists, massage therapists for humans and for horses, wig servicers, karate ... Cat groomers and lawyers
Baker on the FCC’s Analysis of the Comcast-NBCU Merger
Jon Baker (FCC, American University) has posted an article summarizing the FCC’s analysis of the Comcast-NBCU merger. Here is the abstract. The FCC’s analysis of the Comcast-NBCU transaction fills a gap in the contemporary treatment of vertical mergers by providing a roadmap for courts and litigants addressing the possibility of anticompetitive exclusion. The FCC identified ... Baker on the FCC’s Analysis of the Comcast-NBCU Merger
Microsoft undermines its own case
One of my favorite stories in the ongoing saga over the regulation (and thus the future) of Internet search emerged earlier this week with claims by Google that Microsoft has been copying its answers–using Google search results to bolster the relevance of its own results for certain search terms. The full story from Internet search ... Microsoft undermines its own case
