Blog Archives
Saudi Arabia Stocks Fall Sharply Due to Glut
December 30, 2015
Saudi Arabia's stock market has fallen sharply after it announced public spending cuts and rises in tax, fuel and energy prices in 2016. The country's main stock index fell 3% in the opening 15 minutes of trade with petrochemical firms worst hit. * * * It is the largest member of the Opec oil-producing cartel and has refused to cut output in order to raise prices in an attempt to put other producers - mainly US shale oil companies - out of business. Saudi thinks it can withstand low oil prices...
December 30, 2015
Saudi Arabia's stock market has fallen sharply after it announced public spending cuts and rises in tax, fuel and energy prices in 2016. The country's main stock index fell 3% in the opening 15 minutes of trade with petrochemical firms worst hit. * * * It is the largest member of the Opec oil-producing cartel and has refused to cut output in order to raise prices in an attempt to put other producers - mainly US shale oil companies - out of business. Saudi thinks it can withstand low oil prices...
Law Firms Slow to Respond to Diversification Threat of Big Four Accountants
December 30, 2015
Law firms have failed to hit back with equal force to the 'pretty bold statements' made by the Big Four accountancy firms this year as they beef up their legal arms, according to a leading analyst. Noting the lack of a strong response, Marc Totaro, national manager of professional services at the Commonwealth Bank of Australia, said: 'We're not seeing the same responses from the top legal firms. They're not talking around diversifying their core offerings as well, so I think there's a real challenge...
December 30, 2015
Law firms have failed to hit back with equal force to the 'pretty bold statements' made by the Big Four accountancy firms this year as they beef up their legal arms, according to a leading analyst. Noting the lack of a strong response, Marc Totaro, national manager of professional services at the Commonwealth Bank of Australia, said: 'We're not seeing the same responses from the top legal firms. They're not talking around diversifying their core offerings as well, so I think there's a real challenge...
Andrews Kurth Will Mediate With Former Client in January
December 29, 2015
Judge Wesley Ward of the 234th District in Houston heard arguments Dec. 14 on a proposed final judgment in Martin v. Andrews Kurth, but did not rule and said he intended to order both sides to mediation. In a Dec. 16 letter to Ward, plaintiffs attorney Philip Werner, a partner in Werner Ayers in Houston, wrote that the parties agreed to mediation with Phillips after Alice Oliver-Parrott, former chief justice of the First Court of Appeals in Houston, who previously mediated the suit, could not be scheduled...
December 29, 2015
Judge Wesley Ward of the 234th District in Houston heard arguments Dec. 14 on a proposed final judgment in Martin v. Andrews Kurth, but did not rule and said he intended to order both sides to mediation. In a Dec. 16 letter to Ward, plaintiffs attorney Philip Werner, a partner in Werner Ayers in Houston, wrote that the parties agreed to mediation with Phillips after Alice Oliver-Parrott, former chief justice of the First Court of Appeals in Houston, who previously mediated the suit, could not be scheduled...
The Mediator as Arbitrager: Asymmetry in Action
December 29, 2015
Arbitraging involves the process of a person taking advantage of a difference in market prices to broker an immediate deal between a buyer and seller. Webster defines arbitraging as the purchase of securities on one market for immediate resale on another market in order to profit from a price discrepancy. The almost-simultaneous purchase and sale of a commodity or stock means that the arbitrager holds title a minimum amount of time. The arbitrager takes advantage of asymmetrical information to serve...
December 29, 2015
Arbitraging involves the process of a person taking advantage of a difference in market prices to broker an immediate deal between a buyer and seller. Webster defines arbitraging as the purchase of securities on one market for immediate resale on another market in order to profit from a price discrepancy. The almost-simultaneous purchase and sale of a commodity or stock means that the arbitrager holds title a minimum amount of time. The arbitrager takes advantage of asymmetrical information to serve...
Advice to Those Pondering a Mediation Career
December 29, 2015
Some thoughts: Don’t become a mediator because you are too old, tired, or sick to do your current job. Being an effective mediator can mean very long days of running at 100%, and being so present that your energy could power a small city. It is often only your conviction that persuades everyone that there is hope, and that a resolution is possible. A gathering of mediators is a gathering of happy people who don’t follow rules and who love process. Go to a convention of mediators and see if that...
December 29, 2015
Some thoughts: Don’t become a mediator because you are too old, tired, or sick to do your current job. Being an effective mediator can mean very long days of running at 100%, and being so present that your energy could power a small city. It is often only your conviction that persuades everyone that there is hope, and that a resolution is possible. A gathering of mediators is a gathering of happy people who don’t follow rules and who love process. Go to a convention of mediators and see if that...
Southwest Airlines In-Flight Alcohol Suit Causes Circuit Split
December 28, 2015
On August 20, 2015, the Seventh Circuit held that the “coupon settlement” provision of the Class Action Fairness Act (CAFA), 28 USC § 1712, allowed the district court to award class counsel an attorney fee based on the lodestar method. In re Southwest Airlines Voucher Litigation, Nos. 13-3264, 13-3462, 14-2591, 14-2602, 14-2495, 2015 WL 4939676 (7th Cir. Aug. 20, 2015). The Seventh Circuit’s decision represents a split from the Ninth Circuit’s decision in In re HP Inkjet Printer Litigation,...
December 28, 2015
On August 20, 2015, the Seventh Circuit held that the “coupon settlement” provision of the Class Action Fairness Act (CAFA), 28 USC § 1712, allowed the district court to award class counsel an attorney fee based on the lodestar method. In re Southwest Airlines Voucher Litigation, Nos. 13-3264, 13-3462, 14-2591, 14-2602, 14-2495, 2015 WL 4939676 (7th Cir. Aug. 20, 2015). The Seventh Circuit’s decision represents a split from the Ninth Circuit’s decision in In re HP Inkjet Printer Litigation,...
Judge Deems Reed Smith Arbitration Clause Unenforceable
December 28, 2015
A mandatory arbitration clause in Reed Smith’s client engagement letters is unenforceable because it was not specifically signed by the client and did not inform the client of the rights he was giving up, a Philadelphia judge has ruled in an issue of first impression in the state. Philadelphia Court of Common Pleas Judge John M. Younge rejected Reed Smith and partner Douglas Widin’s additional argument that the arbitration clause should be enforced in this legal malpractice action because...
December 28, 2015
A mandatory arbitration clause in Reed Smith’s client engagement letters is unenforceable because it was not specifically signed by the client and did not inform the client of the rights he was giving up, a Philadelphia judge has ruled in an issue of first impression in the state. Philadelphia Court of Common Pleas Judge John M. Younge rejected Reed Smith and partner Douglas Widin’s additional argument that the arbitration clause should be enforced in this legal malpractice action because...
CA Gov Vetoes Bill Outlawing Mandatory Arbitration in Employment
December 28, 2015
To the Members of the California State Assembly: Assembly Bill 465 would outlaw the use of mandatory arbitration agreements as a condition of employment, making California the only state in the country to have this particular prohibition. I have reviewed in depth the arguments from both sides about the fairness and utility of mandatory arbitration agreements. While most evidence shows that arbitration is quicker and more cost-effective than litigation, there is significant debate about...
December 28, 2015
To the Members of the California State Assembly: Assembly Bill 465 would outlaw the use of mandatory arbitration agreements as a condition of employment, making California the only state in the country to have this particular prohibition. I have reviewed in depth the arguments from both sides about the fairness and utility of mandatory arbitration agreements. While most evidence shows that arbitration is quicker and more cost-effective than litigation, there is significant debate about...
A Bibliography on Applied Storytelling
December 27, 2015
With the increasing prominence of scholarship on storytelling in legal advocacy, Chris Rideout’s bibliography is a welcome aid to anyone wanting to learn about the subject, anyone contemplating scholarly work in the area and anyone considering how to introduce the subject to students. The bibliography begins with a brief history of the storytelling movement. It then offers an annotated overview of 13 categories in which the articles fall and finally presents the impressive list of academic works...
December 27, 2015
With the increasing prominence of scholarship on storytelling in legal advocacy, Chris Rideout’s bibliography is a welcome aid to anyone wanting to learn about the subject, anyone contemplating scholarly work in the area and anyone considering how to introduce the subject to students. The bibliography begins with a brief history of the storytelling movement. It then offers an annotated overview of 13 categories in which the articles fall and finally presents the impressive list of academic works...
Ford in Talks with Google to Build Self-Driving Cars
December 27, 2015
Ford Motor Co. and Google are in talks to have the automaker build Google’s next-generation autonomous cars under contract, Automotive News has learned. Although few details about the project are known, a source with knowledge of the project says both parties have been negotiating on a contract manufacturing deal “for a long time.” An announcement, if finalized, could come as early as the week of Jan. 4 during the annual International Consumer Electronics Show in Las Vegas. A Google spokesman...
December 27, 2015
Ford Motor Co. and Google are in talks to have the automaker build Google’s next-generation autonomous cars under contract, Automotive News has learned. Although few details about the project are known, a source with knowledge of the project says both parties have been negotiating on a contract manufacturing deal “for a long time.” An announcement, if finalized, could come as early as the week of Jan. 4 during the annual International Consumer Electronics Show in Las Vegas. A Google spokesman...
