NAACP Ready to Fight IRS Claim of Improper Political Campaign Intervention

I. Introduction

"The NAACP
has always been nonpartisan, but that doesn't mean we're noncritical. 
For as long as we've existed, whether Democrats of Republicans have
occupied the White House, we've spoken truth to power."[1]  With these
words, Chairman Julian Bond, head of the National Organization for the
Advancement of Colored People (NAACP), began the keynote address of the
organization's 95th annual convention in Philadelphia in July of 2004. 
He went on: "We must guarantee the irregularities, suppression,
nullification and outright theft of black votes that happened on
election day 2000 never, ever happen again . . . You cannot win this
race by ignoring race . . . We know that if whiles and nonwhites vote
in the same percentages as they did in 2000, Bush will be re-defeated
by 3 million votes."[2]

Soon after this speech was made, and its contents made publicly
available on the official website for

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The Guest Worker: Will he or she stay?

I. Introduction

As of April 10, 2006, the Senate of the
United States was still at an impasse regarding immigration reform in
the United States. One of the most contentious topics within the
immigration reform debate has been the idea of a guest worker program. 
The House bill that was passed in December had no mention of a guest
worker program. Several versions of the Senate bill have contained
varied schemes for a guest worker program. This article will look at
the different versions of the Senate guest worker programs and the
influence of big business in developing these schemes.

II. Analysis

A
recent poll by TIME magazine confirms the ambivalence many Americans
feel toward illegal immigrants.[1] While a majority of Americans want
to crack down on illegal immigration, they also strongly favor
guest-worker programs and temporary visas. [2] This public ambivalence
has manifested itself in the two versions of … Read the rest

Is the Internet Replacing Real Estate Agents?

Before the Internet became popular, homebuyers had to spend days touring dozens of homes pre-selected by their real estate agent, and were often forced to settle on a home that was merely satisfactory.  Now individuals can shop online for homes, take virtual tours of homes, and even list their homes for sale online without ever stepping foot inside an agent's office.  The Internet provides what previously could only be provided by an agent:  a direct connection between buyers and sellers, thus eliminating the need for a middleman that charges a pricey commission.  In this age of technology though, some argue that the middleman can never be entirely replaced by the Internet.          

The Internet offers a variety of sources for people searching for homes for sale.  One type of site is the "real estate portal."  [1]  This type of site offers searchable listings, where buyers can choose their

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Can Congress Save the PBGC? Implications of a Delphi Corp. Distress Termination of Pension and Benefits Plans in Bankruptcy

The negotiation efforts of Delphi Corp.'s union employees took on
new urgency on March 31 as Delphi filed a motion with the U.S.
Bankruptcy Court seeking to reject its collective bargaining agreements
and modify its retiree benefits plans under sections 1113 and 1114 of
the Bankruptcy Code. [1] If Delphi's pension and benefits obligations
are ultimately rejected and then terminated, it will have a profound
effect on the Pension Benefit Guaranty Corp., the federal agency that
insures pension obligations. Already operating at a deficit, PBGC can
ill-afford to take on any of Delphi's estimated $10.7 billion in
under-funded liability for hourly employees' retirement benefits. [2]
In response to the recent distress terminations of pension plans in the
steel and airline industries, Congress has introduced several measure
to bolster the PBGC. As a consequence, Chapter 11 debtors may find it
more difficult to avoid pension liability as part of a reorganization… Read the rest

Spring Cleaning: Throwing Out Cases About Throwing Out the Trash

Spring is a time for getting rid of things that are outdated, have served their purpose or are just plain wrong.  However, sometimes when companies do a little spring cleaning they can get in a lot of trouble.  Obstruction of justice is a serious crime and one that the government has pursued vigorously in recent years.  One
such case started five years ago when the SEC began an investigation of
Credit Suisse First Boston (CSFB) which led to charges of obstruction
of justice against CSFB investment banker Frank Quattrone. [1]  Last
year a jury found Quattrone guilty of the charges and he was sentenced
to 18 months in prison. [2] However, on March 20, 2006 the 2nd Circuit
did a little spring cleaning of its own by vacating the verdict. [3]
Now the question is whether the government will let this case stay in
the trash
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FDIC Increases Deposit Insurance For Retirement Accounts

On April 1st the Federal Deposit Insurance Corporation (“FDIC”) will
increase its deposit insurance coverage of retirement accounts from
$100,000 to $250,000. [1]  This change represents the first boost to
coverage in over twenty-five years. [2]  Despite coverage for
non-retirement accounts staying at the current level of $100,000, the
increase in coverage for retirement accounts will be beneficial to
consumers and banks alike. [3]

The
last increase in deposit insurance coverage took place in 1980 when it
was raised from $40,000 to $100,000. [4]  However, many Americans now
have much more than $100,000 in retirement savings.  [5]  This meant
they were forced to bank at multiple institutions in order to have all
of their retirement funds insured. [6]  Under the new law, individuals
will be able to have up to $250,000 in retirement funds at one bank.
[7]  This will make banking easier for consumers and increase profits
for banks. … Read the rest

State-Sponsored Investment Tax Incentives: Classic Competition, or Constitutionally Constrained?

I. Introduction

The
Supreme Court heard arguments on March 1st concerning the
constitutionality of an Ohio investment tax credit offered to the
DaimlerChrysler Corporation.  The credit, entitling DaimlerChrysler to
a "ten-year 100 percent property tax exemption, as well as an
investment tax credit of 13.5% against state corporate franchise tax
for certain qualifying investments," is meant to encourage a $1.2
billion Jeep plant project in Toledo.[1]  The investment tax credit is
being attacked on the grounds that, as a state action, it
unconstitutionally burdens interstate commerce in violation of the
Commerce Clause.[2]  This sort of tax incentive is hardly anomalous;
indeed, 49 states offer similar tax incentives for the purpose of
encouraging in-state economic activity, thereby benefiting the citizens
of the state.[3]  Given that attracting valuable in-state commercial
growth is a fixture of policy in most states, a ruling consistent with
the claim of unconstitutionality from the nation's highest Court

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The Maritime Labor Convention: New Protections for those who work on the High Seas

I.  Introduction

On February 23, 2006, the International Labor Organization adopted the Maritime Labor Convention. The convention is an attempt to consolidate all existing maritime labor regimes and to provide a comprehensive rights based charter for maritime employees.  The United States participated in the conference in the hopes that by passing this convention more economic benefits may flow to the American maritime industry. The convention may provide a basis for American employees to maintain and enhance traditional rights such as maintenance and cure.

II.  History & Standards

On February 23, 2006, after two weeks of frantic activity and last minute haggling, the International Labor Organization (ILO) adopted the long debated Maritime Labor Convention. [1] The convention, a comprehensive new labor regime for those working in the maritime industry, was adopted by a vote of 314 for, with no votes against, and four abstentions. [2] Two major goals of the treaty

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Bankruptcy Judges Take on “Inane” Credit Counseling Requirements

While bankruptcy judges are obliged to apply and uphold the rule of
law as specifically set out by Congress, some have chosen to publicly
air their misgivings about the lack of discretion left to  judges to
administer bankruptcy cases by the 2005 amendments to the Code. A
recent order by Judge Monroe of the Western District of Texas has
gained widespread attention for its scathing attack on the credit
counseling requirement. [1] It remains to be seen whether bankruptcy
judges and practitioners will be able to prompt review of this
provision, but the frustration evident in Judge Monroe's decision has
sent Congress a clear message.

The
credit counseling prerequisite to filing a bankruptcy petition is just
one example of how the 2005 Bankruptcy Abuse Prevention and Consumer
Protection Act has made bankruptcy relief more expensive, time
consuming, and restrictive than before. One initial study suggests that
the credit counseling industry … Read the rest

Out with the Old, In with the New: NYSE Group, Starting a New Tradition

March 7, 2006 will mark the end of a 213 year old tradition, but it will also be the start of new era.  If
all goes according to schedule, tomorrow the New York Stock Exchange
(NYSE) will complete a merger with Archipelago Holdings Inc. (Arca). [1]  The
merger will create a new publicly held corporation, NYSE Group Inc.
(stock symbol: NYX) making the NYSE a for-profit public company. [2]  The
merger has been a long time in the making and is not only significant
for the Big Board, but is also a major milestone in the corporate world
as once again new standards have been set. [3]  The
transaction will give the NYSE, already the world’s biggest exchange,
high tech trading capabilities and 49% of the stock trading market. [4]

 

The Old NYSE

 

It was less than three years ago that the future of Read the rest