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| Corporate Spotlight |  |  |
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| National News | | |
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- Analysis: Deficit is much bigger than U.S. admits
The government's shortcomings in how it accounts for loan guarantees and direct loans understate by trillions of dollars the true cost to taxpayers, according to the Financial Economists Roundtable. The U.S. budget deficit would be bigger than officially reported if the government properly accounted for $5 trillion of mortgages guaranteed by Fannie Mae and Freddie Mac and $2.5 trillion of credit programs, including student loans, the economists said. Knowledge@Wharton
(12/5)     
| Legislative Dispatch | | |
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- Warren likely would focus on Dodd-Frank on Senate panel
Sen.-elect Elizabeth Warren, D-Mass., expected to join the Senate banking committee, likely would use her seat to oversee implementation of the Dodd-Frank Act, analysts and Washington observers say. She probably would press regulators to adopt tough rules for banks, based on Dodd-Frank, and fight efforts to repeal parts of the law, they say. MarketWatch
(12/5), Bank Credit News
(12/5)
- Some House Republicans back higher tax rate for wealthy
President Barack Obama's call for increasing the tax rate for America's wealthiest 2% is drawing some support from House Republicans. They urge House Speaker John Boehner, R-Ohio, to accept the increase in return for new limits on federal retirement and health care programs. "I and some others are advocating giving the president what he wants," said Rep. Steven LaTourette, R-Ohio. The Washington Post
(12/5), Reuters
(12/6), The Hill
(12/5)
| Employment Focus | | |
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- Survey: Hiring in November fell short of previous month's
Private employers in the U.S. hired 118,000 workers last month, far short of the 157,000 increase in October, according to a survey by the ADP Research Institute. The disruption caused by Hurricane Sandy was responsible for 86,000 fewer hires, the report said. Bloomberg
(12/5)
| Supreme Court and Federal Court Watch | | |
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- Former trader faces allegations of wire fraud
A former trader has been charged with wire fraud in connection with a purchase of Apple stock, which the government says was unauthorized and caused his brokerage to lose millions of dollars. The government says the trader purchased 1.6 million shares of the stock, claiming that he was doing it on a customer's behalf, even though the customer apparently wanted only 1,625 shares. Bloomberg
(12/5)
| Other Legal News | | |
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- Policyholders and insurers try to resolve post-Sandy issues
In some cases, litigation may be required to resolve disputes between insurers and policyholders related to the damage caused by Hurricane Sandy and its remnants. "The amount of loss is so significant that I think both sides will be ready to fight for their positions," said Jared Zola, a partner at Dickstein Shapiro. Policyholders in affected areas have been trying to determine whether their insurers cover flood damage, lawyers say. New York Law Journal
(12/5)
| Professional and Business Development | | |
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- Can you tweet your way to a new job?
To get the attention of hiring managers using social media, try joining LinkedIn groups where they participate, use Twitter to retweet company messages and "like" the company page on Facebook, Joshua Waldman writes. "[S]ocial media enable you to develop a stronger network that can help you with your career as well as your next job search," he writes. CareerRocketeer.com
(12/4)
- Quick tips for last-minute meeting prep
If you have limited time to prepare for a meeting, put your perfectionist tendencies aside and think about other situations when you were able to succeed under pressure, Megan Broussard writes. It's also a good idea to find an interesting news story to warm up the room. "[K]nowing that you have a conversation topic in your back pocket will calm your nerves and make you feel more confident when you walk through those conference room doors," she writes. TheDailyMuse.com
(12/4)
| PLI News | | |
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Fashion Law -- The Global Challenge
The fashion and retail industries face significant and distinctive challenges. Today's One-Hour Audio Briefing will discuss the dominant trends in the fashion and retail industries and how those trends shape the key issues in fashion law.
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The Battle Continues Between Maersk and Transocean Drilling
Recently, the U.S. Court of Appeals for the Federal Circuit reviewed the second appeal by Transocean challenging the decision of the district court to grant judgment as a matter of law to Maersk in their ongoing patent feud. On PLI's Patent Law Practice Center, Gene Quinn says perhaps the most interesting aspect of this appeal is the discussion of obviousness, and more particularly the discussion of secondary considerations.
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