Showing archive for: “Corporate Governance”
Commissioner Wright goes down swinging over amendments to the FTC’s HSR rules
Last week, over Commissioner Wright’s dissent, the FTC approved amendments to its HSR rules (final text here) that, as Josh summarizes in his dissent, establish, among other things, a procedure for the automatic withdrawal of an HSR filing upon the submission of a filing to the U.S. Securities and Exchange Commission announcing that the notified transaction has been terminated. I discussed the proposed amendments ... Commissioner Wright goes down swinging over amendments to the FTC’s HSR rules
Josh Wright begins making his mark at the FTC by pushing cost-benefit analysis
Although it probably flew under almost everyone’s radar, last week Josh issued his first Concurring Statement as an FTC Commissioner. The statement came in response to a seemingly arcane Notice of Proposed Rulemaking relating to Hart-Scott-Rodino Premerger Notification Rules: The proposed rules also establish a procedure for the automatic withdrawal of an HSR filing when ... Josh Wright begins making his mark at the FTC by pushing cost-benefit analysis
Federalist Society and AALS talks this week
I’ll be headed to New Orleans tomorrow to participate in the Federalist Society Faculty Conference and the AALS Annual Meeting. For those attending and interested, I’ll be speaking at the Fed Soc on privacy and antitrust, and at AALS on Google and antitrust. Details below. I hope to see you there! Federalist Society: Seven-Minute Presentations ... Federalist Society and AALS talks this week
Time for Congress to Cancel the FTC’s Section 5 Antitrust Blank Check
A debate is brewing in Congress over whether to allow the Federal Trade Commission to sidestep decades of antitrust case law and economic theory to define, on its own, when competition becomes “unfair.” Unless Congress cancels the FTC’s blank check, uncertainty about the breadth of the agency’s power will chill innovation, especially in the tech ... Time for Congress to Cancel the FTC’s Section 5 Antitrust Blank Check
Executive Compensation Symposium This Friday at Case Western’s Center for Business Law and Regulation
This coming Friday (Oct. 12), the Center for Business Law and Regulation at Case Western Law School will host what promises to be a terrific symposium on executive compensation. Presenters include TOTM alumnus Todd Henderson (Chicago Law), Jill Fisch (Penn Law), Jesse Fried (Harvard Law), David Walker (Boston U Law), David Larcker (Stanford Business), Stephen L. Brown (TIAA-CREF), Paul Hodgson ... Executive Compensation Symposium This Friday at Case Western’s Center for Business Law and Regulation
Larry Ribstein wins ABA’s Martin I. Lubaroff Award
We are delighted to report that the ABA Business Law Section has posthumously awarded Larry Ribstein its Martin I. Lubaroff Award, presented annually to a lawyer who has consistently demonstrated leadership, scholarship, and outstanding service in LLCs, Partnerships and Unincorporated Entities law. That describes no one so well as Larry. The award was established in 2001 ... Larry Ribstein wins ABA’s Martin I. Lubaroff Award
Happy 10th Birthday Sarbanes-Oxley
There are many days that I wish Larry Ribstein were still here, and today is definitely one of those days. He would have had a lot to say about the tenth anniversary of SOX today. He and Henry Butler noted in their book “The Sarbanes-Oxley Debacle: What We’ve Learned; How to Fix It” that: “while ... Happy 10th Birthday Sarbanes-Oxley
GMU Law & Economics Center Presents “Unlocking the Law: Building on the Work of Professor Larry Ribstein”
I’m very pleased to announce the George Mason Law & Economics Center is hosting a program focusing on our friend and colleague Larry Ribstein’s scholarship on the market for law. Henry Butler and Bruce Kobayashi have put together a really wonderful program of folks coming together not to celebrate Larry’s work — but to ... GMU Law & Economics Center Presents “Unlocking the Law: Building on the Work of Professor Larry Ribstein”
Contemplating Disclosure-Based Insider Trading Regulation
TOTM friend Stephen Bainbridge is editing a new book on insider trading. He kindly invited me to contribute a chapter, which I’ve now posted to SSRN (download here). In the chapter, I consider whether a disclosure-based approach might be the best way to regulate insider trading. As law and economics scholars have long recognized, informed stock trading may create both harms and benefits ... Contemplating Disclosure-Based Insider Trading Regulation
Hating Capitalism
One topic that has long interested me is the source of dislike or hatred of capitalism; my Southern Economics Journal article “Folk Economics” (ungated version) dealt in part with this topic. Today’s New York Times has an op-ed, “Capitalists and Other Psychopaths” by William Deresiewicz, who has taught English at Yale and Columbia, that both ... Hating Capitalism
CEO Vacations and Stock Prices
An interesting looking empirical piece from David Yermack (NYU), Tailspotting: How Disclosure, Stock Prices and Volatility Change When CEOs Fly to Their Vacation Homes. I haven’t read it closely yet. Here’s the abstract: This paper shows close connections between CEOs’ vacation schedules and corporate news disclosures. Identify vacations by merging corporate jet flight histories with ... CEO Vacations and Stock Prices
Joking about politics
On November 3rd, the president of the United States spoke at the Hotel Lowry in St. Paul, Minnesota, in what was billed repeatedly as a bi-partisan address. The president ridiculed reactionaries in Congress who he claimed represented the wealthy and the powerful, and whose “theory seems to be that if these groups are prosperous, they ... Joking about politics
