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May 1, 2009
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Legal News in Brief

  Corporate Spotlight 
  • Debate over findings of stress tests delays release
    The Federal Reserve was scheduled next Monday to publish results of the stress tests of the nation's 19 largest banks, but debate over the preliminary findings prompted the Fed to delay the release. The Fed might not disclose the results until the end of next week, sources said. Regulators, bank executives and other market participants are concerned about the handling of the release. ClipSyndicate/Bloomberg (5/1), Bloomberg (5/1) LinkedInFacebookTwitterEmail this Story
  • Other News
  National News 
 
  • Obama adviser: Economy to "level out" in second half
    The U.S. economy is expected to "level out in the second half of the year and then begin to recover," said Christina Romer, chairwoman of the White House Council of Economic Advisers. "Whether the recovery begins later this year, as most private forecasters predict, or takes a bit longer is hard to know," she said. Reuters (4/30) LinkedInFacebookTwitterEmail this Story
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  Legislative Dispatch 
  • Congress takes "one step forward, one step back" on bills
    Votes in Congress Thursday on bills affecting credit cards and mortgage bankruptcy law continued the halting progress and political realities of overhauling the nation's financial regulatory system. "It's one step forward and one step backward," said Travis Plunkett, legislative director at the Consumer Federation of America. While the House approved a measure that would protect consumers from hidden credit card fees, the Senate rejected a measure that would let bankruptcy court judges rewrite mortgages to prevent foreclosures. Reuters (4/30) LinkedInFacebookTwitterEmail this Story
  • Other News
  Employment Focus 
  • U.S. claims for unemployment benefits post surprising drop
    Catching analysts off guard, initial jobless claims in the U.S. decreased by 14,000 last week, bringing the total to a seasonally adjusted 631,000, the Labor Department said. Production levels and business inventories have fallen rapidly lately relative to demand, possibly "reducing the need for further cutbacks," said Tony Crescenzi, chief bond analyst at Miller Tabak & Co. Reuters (4/30) LinkedInFacebookTwitterEmail this Story
  • Other News
  Supreme Court and Federal Court Watch 
  • Rumored Souter retirement presents chance to reshape high court
    President Barack Obama may make his first Supreme Court nomination this year, if a liberal veteran justice steps down. David Souter's departure is not expected to upset the balance of the bench. Observers say a woman will likely replace him, with Elena Kagan, Sonia Sotomayor and Diane Wood on the short list of nominees. Bloomberg (5/1), ABA Journal (4/30) LinkedInFacebookTwitterEmail this Story
  • Other News
  Other Legal News 
  • Unemployed lawyers may lose personal data on computers
    Laid-off attorneys often lose more than a job; they lose important personal information when surrendering firm-provided electronic devices. Long hours at the office make it almost imperative for lawyers to keep the information handy on a work computer or BlackBerry. However, personal contacts, e-mail addresses and phone numbers stored on the hardware are considered to be the firm's property and are often lost when hard drives are wiped and reformatted. ABA Journal (4/30) LinkedInFacebookTwitterEmail this Story
  • Other News
  Professional and Business Development 
  • New solo practitioners need to be well-informed
    Attorneys starting solo practices after a layoff need to follow the rules of the road for a smooth ride. Initiating professional safeguards in the form of record segregation and professional malpractice insurance, maintaining continuing education requirements and keeping abreast of disciplinary issues top the list of best practices. The Legal Intelligencer (Philadelphia) (free registration) (5/1) LinkedInFacebookTwitterEmail this Story
  • Is your job search going all wrong?
    Forbes has assembled a list of things to do when your job-hunting efforts have stalled. Among the recommendations: Reconsider how your resume comes across, emphasize past results and make cover letters specific to the job. Forbes (4/29) LinkedInFacebookTwitterEmail this Story
  • Other News
  Featured Content 
 

  PLI News 
  • Free Friday takes an ethical 411 on Web 2.0
    Check out what PLI On-Demand has to offer, and try it on us. This week, we offer the 53-minute Web presentation Ethical Issues and Web 2.0 (from the PLI program Information Technology Law Institute 2009: Web 2.0 and the Future of Mobile Computing). LinkedInFacebookTwitterEmail this Story
  • The end of the (hedge fund) world as we know it?
    There's almost a daily drumbeat of calls for the registration of hedge funds. Even short of registration requirements, hedge funds are facing increased regulatory and compliance burdens. PLI Online looks at the future May 12 when K. Susan Grafton of Gibson, Dunn & Crutcher and Stuart J. Kaswell of the Managed Funds Association host the one-hour briefing (audio only) The Future of Hedge Fund Regulation. LinkedInFacebookTwitterEmail this Story
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  Lawyer Life 
  • Hotels' discounts encourage guests to book ahead
    With the uncertain economy prompting many travelers to wait until the last minute to make their vacation plans, some hotels are offering discounts to those who book and pay in advance. Miami's Aventura resort is slashing rates by 30% for advance summer bookings, and the Pelican Miami Beach recently offered a 25% discount to guests who paid for their rooms at least a week in advance. The Miami Herald (free registration) (4/27) LinkedInFacebookTwitterEmail this Story
  • Discover Australia's natural beauty through an eco-trek
    Not every region of Australia is teeming with kangaroos, but for those interested, the iconic animals can be found in Cape Range National Park. Beyond the kangaroos, the cape offers sprawling scenery, Osprey Bay's turquoise waters and red limestone cliffs. The area is also home to hundreds of species of coral, mollusks and tropical fish. TravelAge West (4/25) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
Man is so made that he can only find relaxation from one kind of labor by taking up another."
--Jacques Anatole Thibault/Anatole France,
Nobel Prize-winning novelist, from "The Crime of Sylvestre Bonnard"


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