Month: November 2009

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The Lisbon Treaty: Implications for the United States

I. Introduction

 

The Czech Republic is the last of 27 European Union member states left to sign the Lisbon Treaty, also known as the Reform Treaty. [1]  It is anticipated to be ratified by the end of 2009 and go into effect January 1, 2010. [2]  The Treaty is an attempt to amend the two main Treaties that currently govern the European Union (EU), [3] with qualities very similar to a European constitution. [4]  If the Treaty is ratified, it will dramatically affect the United States’ place on the global stage by strengthening Europe’s economic and political weight. [5] The Treaty also provides for the development of a common EU defense policy, [6] which could potentially create an EU military structure similar to the North Atlantic Treaty Organization (NATO), weakening the transatlantic link. [7] The Obama administration is enthusiastic about this European integration effort, [8] but many U.S. experts fear … Read the rest

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Failure to Communicate

I. Introduction

The development of the Internet has led to exponential growth in the amount of information available to any one person. With the Internet, entire new market sectors have sprung up almost overnight. The Internet has (for many) made our lives more convenient –  one can make many, if not all, purchase online, access the news and weather reports, plan a vacation, work from home, communicate with friends and family, and access a plethora of information that would otherwise be unavailable to them – with the Internet the possibilities are almost limitless. Bearing this in mind, researchers, businessmen, and consumers are constantly searching for ways to better utilize the Internet for their own benefit. The desires of the various demographics seeking to better utilize the Internet are not always inline, and are in fact often in competition with one another.

Prime examples of the competing interests can be … Read the rest

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Health Care Reform: Whether it Means a Break For Small Business?

I.          INTRODUCTION         

While larger firms and corporations may handle rising health insurance premiums, small businesses seem to be crushed under the weight of rising health costs for their employees. [1] The inability to obtain affordable, quality health coverage falls more on the shoulders of individuals and small businesses, which may be the primary reason President Obama and Congress have focused their health care reform proposals on benefits for individuals and small businesses. Statistics indicate nearly 46 million Americans have no health insurance coverage at all while nearly 25 million are underinsured. [2] Also, in 2007 total cost for health care reached $2.4 trillion in the U.S. or the equivalent of $7,900 per person, and the U.S. spends 52% more than Norway, which follows the US as the next most costly nation in regard to health care spending per person. [3] This article provides an overview of the main … Read the rest

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MR. ME TOO[1]: Are We Going to Pay Artist For Radio Play of Their Songs?

By: Brittany A. Estell

I. Introduction

On October 24, 2009 the Black Entertainment and Sports Lawyer Association (BESLA) hosted a seminar [2] titled “Give the Drummer Some: The Legislative Beat on Performance Royalties and Copyrights for Artists.” [3]  The panel was comprised of supporters and a proponent of HR 848: The Performance Right Act.  In general, supporters, Michael J. Huppe Jr. Esq. and Kendall Minter Esq., argued that performers should get a percentage/royalty from radio stations depending on how much profit they make a year. [4]  In contrast, the proponent, Skip Finley, argued that record labels and artists are gaining free marking and promotion of artist by putting them on the radio; therefore, artists should not receive payment for play on the radio. [5]  This article discusses the Performance Rights Act, which is in the legislature process and has been passed through the Senate Judiciary Committee October 15, 2009. [6]  … Read the rest

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A Corporate Duty to Hedge? Distinguishing between Speculation and Hedging

I.          Introduction  

In 1992, a group of shareholders brought a derivative lawsuit against the directors of a grain elevator cooperative for their failure to properly hedge the risk associated with the grain industry. Finding for the plaintiffs, the Court of Appeals of Indiana held: “we find that there was probative evidence that [cooperative’s] losses were due to a failure to hedge.” [1]  

 Inexplicably the cited holding has not being subject to detailed analysis by legal scholars. Having passed almost eighteen years since it was decided, the case now faces the risk of being forgotten without ever being the subject of legal discussion.  

This article seeks at determining whether, under the basis of this holding, there should be a corporate duty for directors to hedge. In other words, should directors, at the very least, consider the use of derivatives to hedge the risks of a corporation?  

To answer this question, this … Read the rest

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Reorganizing the Team: Chicago Cubs File for Bankruptcy

I. Introduction

In the struggling economic climate, many corporations have sought bankruptcy relief.  Numerous financial institutions such as the automobile industry and electronic corporations have become accustomed to seeking such restructuring aid and most recently, even the sports world is no longer immune.  In October 2009, the Chicago Cubs organization became yet another victim in this economic downturn as the Tribune Company filed Chapter 11 bankruptcy for the baseball team.  Although many companies have sought relief due to monetary struggles, “‘You don’t have to be insolvent to be in bankruptcy [. . .] All you need is a legitimate business reason.’” [1] The Chicago Cubs seek reprieve as a way to sell the organization in a tight credit market to an eager buyer, not willing to take on the debt of the parent corporation to its creditors.  Through the sale of the Chicago Cubs, the organization … Read the rest

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The Struggle for an Equal Opportunity to Bank

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The United States is founded on the premise of equal
protection. Equal protection is the scheme of legislated equality which
encompasses notions of fairness, goodness, fraternity and social justice. It’s
about maintaining a social stratification system which encourages any person to
achieve their fullest potential by preventing the worst forms of social
distinctions to arise. For years, members of our society, our elected officials
and governing bodies have fought vigorously to implement programs and laws that
promote … Read the rest

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Danger: Sporting Events Can Be Hazardous To Your Rights!

I.            Introduction 

            More than 3.5 million sports-related concussions take place in the United States each year. [1] The National Center for Catastrophic Sport Injury Research indicates that the largest number of sports-related fatalities occur at the high school level as a consequence of  heat stroke, heart problems, aorta tears, neck injuries, and Pulmonary Emboli. [2] The likelihood of injury may even be elevated at specific points during a sporting competition. [3] A study published in the Research in Sports Medicine revealed that 16 percent of injuries occur at the beginning of a football game, 54 percent during the middle, and 30 percent at the conclusion. [4] Perhaps the most shocking reality is that the majority of the legal cases which develop as a result of these sports injuries and fatalities will be dismissed in court. [5] The reason being, that on every occasion a person voluntarily … Read the rest