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Monday, November 9th, 2009

Former Enron CEO Submits Appeal

October 14, 2009 by Stephen Kersey  
Filed under Business News

Former Enron CEO Submits Appeal

The U.S. Supreme Court has decided that it will consider former Enron CEO Jeffrey Skilling’s appeal concerning his infamous 2006 fraud conviction following the collapse of the Houston-based energy company. Skilling was sentenced to 24 years in prison and ordered to forfeit $45 million after being convicted for conspiracy, securities fraud, insider trading and lying to auditors.
Skilling’s case joins former media mogul Conrad Black’s case as the second Supreme Court case involving the prosecution of high-profile executives. Black was formerly the Hollinger International chairman until he was sentenced to 6 1/2 years in prison for fraudulently taking millions of dollars …read more

Supreme Court Ruling a Big Win for Cable

June 29, 2009 by Mark Ellis  
Filed under Business News

Supreme Court Ruling a Big Win for Cable

For years, the legal battle between Hollywood and cable providers raged on about whether or not subscribers should be able to record shows to the cable provider’s central database. The Supreme Court has ended the battle by ruling in favor of cable, which means that cable users will be able to incorporate video storage into their own networks.
 
This is a significant victory for cable operators, who currently have to provide each customer with set-top boxes in order to allow DVR service. Upgrading these systems is costly, even for those who already have DVR boxes, which means that the Supreme Court …read more

Supreme Court Rules on Predatory Lending

June 29, 2009 by Lela Davidson  
Filed under Corporate Finance

Supreme Court Rules on Predatory Lending

The Supreme Court today confirmed that our nation’s fair lending laws should be vigorously enforced by all levels of government. Today in Cuomo v. Clearing House Association, the Court rejected federal regulators’ and national banks’ attempts to prevent states from enforcing their own fair lending laws. The Court’s ruling permits states to step up their efforts to curb discrimination in sub-prime lending markets, and is especially timely given that predatory lending has exacerbated the impact of the current economic crisis on minority communities.
“As the Court clearly recognized, this is a time when more — not less — enforcement of fair lending …read more

Age Discrimination Harder to Prove

June 18, 2009 by Mark Ellis  
Filed under Business News

Age Discrimination Harder to Prove

If you have been considering an age discrimination lawsuit against your employer, things just got a whole lot tougher thanks to a new Supreme Court ruling. The case, which was decided by a 5-4 ruling, states that employers will not have to prove that they did not commit age discrimination.
 
It all started when 53-year-old Jack Gross sued his employer, FBL Financial Services Inc. in Iowa, over what he perceived as age discrimination. He claimed that he had been demoted because of his age and that his job was taken by a younger female worker, which led him to bring a …read more

Supreme Court Reduces Exxon’s Liability

July 3, 2008 by maddy  
Filed under Business News

Supreme Court Reduces Exxon’s Liability

As part of a flurry of activity at the close of the Court’s calendar, the Supreme Court, in a 5-3 decision, ruled last week to reduce the damages payable by Exxon Mobile in connection with the 1989 oil spill in Alaska. The judgement was reduced from $2.5 billion to $500 million, effectively eliminating the punitive damages awarded by the lower court(s).
This particular case involved the damages associated with maritime liability – and Justice Souter, in his opinion for the majority, stated that a 1:1 ratio (awarding damages only for actual damages) was an appropriate limit so to eliminate “unpredictable” …read more

Supreme Court Overturns Millionaires’ Amendment

June 27, 2008 by thursday  
Filed under Business News

Supreme Court Overturns Millionaires’ Amendment

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The Supreme Court has been busy this week. One of the decisions they released was an overturn of the ‘Millionaires’ Amendment’ — a piece of campaign legislation law stating that the opponents of candidates self-financing their runs can accept more donations.
Jack Davis, a 2006 congressional candidate in New York, brought the suit to the Supreme Court, after he lost the race. Davis had spent over $2 million of his own funds to finance his run, but the Millionaires’ Amendment kicked in and his opponent was able to out-fundraise him. The amendment was originally written in …read more

Supreme Court strikes down DC gun law.

June 26, 2008 by maddy  
Filed under Business News

Supreme Court strikes down DC gun law.

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In a 5-4 decision, the US Supreme Court ruled today to negate the long standing gun ban in Washington, DC. The Justices split down the Conservative / Liberal line.
This is the first time in the history of the Supreme Court that it has affirmed an individual’s right to bear arms, as secured by the 2nd Amendment.
The contested law, that has been in use for 32 years, restricts the possession of handguns and enforces strict rules regarding the storage and us of rifles and shotguns.
Justice Antonin Scalia, writing the opinion for the majority, in their interpretation …read more

Update: Court strikes down New York’s airline passenger rights law

March 26, 2008 by polrick  
Filed under Business News

Update: Court strikes down New York’s airline passenger rights law

In December, I reported on New York’s Airline Passenger Bill of Rights, which required airlines to provide basic amenities for passengers stuck on delayed aircraft.
Although a federal district court upheld the law in December, an appeals court overturned the lower court’s verdict yesterday. The appellate court ruled that New York’s statute pre-empted a federal law that provides for the uniform regulation of the airline industry.
Like many major court decisions, this one wasn’t about the substance of the law at issue. The appellate court certainly doesn’t like delayed flights, and doesn’t want passengers to have to sit for hours without water or …read more

Third Party Thursday Presents – The Alaskan Independence Party

March 13, 2008 by polrick  
Filed under Business News

Third Party Thursday Presents – The Alaskan Independence Party

Most of the dozens of third parties in the US are state-, region-, or issue-specific. A good example is the Alaskan Independence Party, which claims to have about 13,500 members, making it the state’s third largest party. If you live in Fairbanks, check out their party convention, going on this weekend at the Regency Fairbanks Hotel.
The Alaskan Independence Party is basically a libertarian party with Alaska-specific concerns. Among the party’s primary goals are:

A statewide referendum on statehood status, during which the party will support some form of independence for Alaska. This may not necessarily be complete secession from the US, …read more

Georgia v. Tennessee – The Latest Interstate Rivalry

February 23, 2008 by polrick  
Filed under Business News

Georgia v. Tennessee – The Latest Interstate Rivalry

As reported in the New York Times, Christian Science Monitor, and a host of local newspapers in the affected areas, the state of Georgia has recently claimed that it rightfully owns a piece of the Tennessee River currently controlled by Tennessee. As you might imagine, the state of Tennessee begs to differ. Fueled by a serious drought in the Southeastern US, this latest interstate border dispute is only the most recent of a series of state rivalries that goes all the way back to the founding of the country. But we won’t go back that far today…
Georgia vs. Tennessee: When …read more

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