PLI SmartBrief

Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/eklLCfbwocfbtPnhTBIe

February 14, 2013

Legal News in Brief

Corporate Spotlight

U.S. groups express concerns about European transaction tax
The U.S. Treasury Department, financial institutions, other businesses and associations argue that a proposed tax on financial transactions in Europe ignores international treaties, overreaches and would hurt the global economy. The European Commission has outlined the plan, which could raise more than $46 billion annually. Financial Times (tiered subscription model) (2/14), Bloomberg (2/14), The Wall Street Journal (2/13)

American Airlines and US Airways boards approve merger
The boards of US Airways and AMR, American Airlines' parent company, gave final approval to a merger of the two airlines. Industry experts described the deal as the last great mega-merger in U.S. aviation. If the $11 billion all-stock deal closes, it would create the world's biggest airline and put four major airlines in control of 86% of air travel in the U.S. The Washington Post (2/14), The Arizona Republic (Phoenix) (tiered subscription model) (2/14), Fort Worth Star-Telegram (Texas)/Sky Talk blog (2/13)

National News

Obama takes campaign for manufacturing revival to factory floor
President Barack Obama took his campaign for strengthening manufacturing in the U.S. to the floor of an engine factory in Appalachia on Wednesday. He called upon Congress to support job training and the creation of manufacturing institutes that he proposed in his State of the Union address. The cost of doing business offshore is rising, and many companies are finding it less expensive to open manufacturing facilities in the U.S., Obama said. The Washington Post (2/13), The Charlotte Observer (N.C.) (2/13), The New York Times (tiered subscription model) (2/13)

Legislative Dispatch

U.S., EU regulators to work on plans for dealing with bank failures
Regulators from Europe and the U.S. are poised to explain to U.S. lawmakers their plans for dealing with the failure of a global financial institution. Martin Gruenberg, chairman of the Federal Deposit Insurance Corp., will tell lawmakers that an international working group is set to meet soon to discuss winding down large banks. Reuters (2/14)

Employment Focus

Chicago police officers seek overtime pay for off-duty e-mails
About 200 police officers in Chicago have joined a lawsuit arguing that they deserve overtime pay for time spent responding to e-mails while off duty. Employers can avoid similar lawsuits by not issuing smartphones to nonexempt workers and by reminding nonexempt workers that they do not need to respond to e-mails while off duty, Jim Burns writes. Forbes/The Employment Beat blog (2/12)

Why retirement saving has become increasingly automated
Employer-sponsored 401(k) plans are sometimes touted as a way to put workers in charge of their own retirement funds. Increasingly, however, workers are automatically enrolled in plans, and their dollars are directed into target-date funds, which contain a mix of investments that are selected for them. Plan administrators say the shift to automatic savings comes, in part, because of new information about investor behavior. "Our view in 1980 was unsophisticated about individual decision-makers," said Stephen Utkus, director of the Vanguard Center for Retirement Research. The New York Times (tiered subscription model) (2/11)

Supreme Court and Federal Court Watch

More states become part of lawsuit over Dodd-Frank
Several more states -- Texas, Ohio and Georgia among them -- have joined a case questioning whether the Dodd-Frank Act is constitutional. The suit initially took issue with the Consumer Financial Protection Bureau, but the states' attorneys general are concerned about a Dodd-Frank provision that grants the Treasury secretary "orderly liquidation authority." The federal government said last year that the plaintiffs don't have standing and requested that the case be dismissed. The Blog of Legal Times (2/13)

Professional and Business Development

Don't lose your personality after you've been promoted
Leaders can find it more difficult to maintain an authentic, personal brand and leadership style as they move up within an organization, Dana Theus writes. However, remaining true to yourself doesn't preclude meshing with company culture. "To do this, you have to delve beneath the MBA-speak about leadership and values we usually hear and go to the core of what makes you uniquely and authentically human," she writes. SmartBrief/SmartBlog on Leadership (2/11)

Take ownership of your career
Professionals headed toward becoming great leaders will reach an inflection point in their careers where they adopt an "owner's mindset," writes leadership coach Amy Jen Su. To get closer to this point, take full responsibility for everything that happens to you and start bringing a unique vision and energy to work projects. Start asking yourself, "if I were the partner or appointed lead, what call would I make?" she writes. The Huffington Post/The Blog (2/12)

PLI News

A Time-Tested Guide to Asset-Based Lending Strategies
Completely updated for recent regulatory changes, Asset-Based Lending: A Practical Guide to Secured Financing provides step-by-step coverage of the current techniques, documents, risks and protections at the heart of this complex specialty.

Securities Litigation 2012: The Year in Review
According to Gibson Dunn's just-released 2012 Year-End Securities Litigation Update, 2012 proved to be a mixed year for defendants in securities litigation, with several open questions and rare causes for optimism. The raw statistics show a steady stream of new filings, increasing median settlement amounts and developments, mergers and acquisitions litigation, and relatively low dismissal rates. The extensive report covering filing and settlement trends, Supreme Court life after Morrison and Janus, and more can be found on PLI's Securities Law Practice Center.

SmartQuote

Mistakes are part of the dues that one pays for a full life."

--Sophia Loren,
Italian actress

Subscriber Tools

Print friendly format | Web version | Search past news | Archive | Privacy policy

Advertise

Account Director: Aaron Lawrence (202) 499-2123