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January 29, 2013
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Legal News in Brief

  Corporate Spotlight 
 
  • U.S. pursues guilty plea from RBS in Libor investigation
    Settlement negotiations between the U.S. and Royal Bank of Scotland regarding alleged manipulation of the London Interbank Offered Rate have hit a stumbling block. U.S. authorities are seeking a legal admission of guilt in addition to a hefty fine, while RBS executives are voicing concern that a guilty plea might open them up to costly and damaging litigation. The Wall Street Journal (1/29) LinkedInFacebookTwitterEmail this Story
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  National News 
  • SIGTARP: Treasury ignored rules for pay at rescued firms
    The U.S. Treasury Department disregarded its guidelines for executive compensation at government-rescued companies when it approved millions of dollars in raises last year at Ally Financial, American International Group and General Motors, according to a report by the Office of the Special Inspector General for the Troubled Asset Relief Program. The report says Patricia Geoghegan, the Treasury's acting special master for compensation, circumvented procedures aimed at keeping pay at the midpoint of similar companies. The Washington Post (1/28) LinkedInFacebookTwitterEmail this Story
  Legislative Dispatch 
  • U.S. employers praise push for immigration reform
    An initiative in Congress to overhaul U.S. immigration laws is drawing praise from employers, many of whom say the current system is broken and an obstacle to hiring. Microsoft's general counsel said he is "encouraged by the momentum" for immigration reform. National Council of Farmer Cooperatives President and CEO Charles Conner said the push is the best opportunity "in a generation" to solve farmers' immigration law problems. Reuters (1/28), The Washington Post (1/28), RealClearPolitics (1/29) LinkedInFacebookTwitterEmail this Story
  Employment Focus 
  • EEOC has another record-breaking fiscal year
    During the past fiscal year, the Equal Employment Opportunity Commission won a record $365.4 million for plaintiffs in discrimination cases and reduced its backlog of cases. "These remarkable achievements are a credit to the commitment of the EEOC's staff and the product of strategic and efficient investment of critical budget resources in recent years," according to EEOC Chair Jacqueline Berrien. The National Law Journal (free registration) (1/28) LinkedInFacebookTwitterEmail this Story
  Supreme Court and Federal Court Watch 
  • IRS can serve a summons on UBS regarding another bank's clients
    The Internal Revenue Service has received permission from a judge to serve a summons on Swiss bank UBS as the IRS seeks information on clients of Wegelin & Co., which recently admitted to helping customers conceal their assets. "Wegelin used the UBS correspondent account to provide offshore banking services to dozens of U.S. taxpayers, who the IRS believes may have failed to report the existence of their Swiss bank accounts to the IRS and the Department of Treasury," according to a filing written by Assistant U.S. Attorney Natalie Kuehler. Bloomberg (1/29) LinkedInFacebookTwitterEmail this Story
  Professional and Business Development 
  • Why time management may not be working for you
    People often use time management tactics to counteract impulses such as the desire to avoid unpleasant tasks or the need to feel busy, Howard Jacobson writes. People who don't understand these impulses or who aren't willing to confront them will almost always fail at time management. "Trying to build new habits on top of dysfunctional old ones works about as well as putting a new car body on top of a rusty old engine," Jacobson writes. Fast Company online (1/25) LinkedInFacebookTwitterEmail this Story
  • 6 tips for an effective LinkedIn network
    Your LinkedIn network should be no more than 400 contacts and should include a diverse range of professionals, Eli Amdur writes. "Your network should remain an unbroken chain. It should be current. If you haven't been in contact with people in a few years, are they really in your network?" he writes. The Record (Hackensack, N.J.) (1/25) LinkedInFacebookTwitterEmail this Story
  PLI News 
  • NIH Funds Anthrax Vaccine Development
    Plague is a disease that primarily infects animals, but can spread to humans through animal and insect bites. It is also considered a potential bioterrorism weapon, and therefore a priority for vaccine development. There is no plague vaccine currently approved for use in the U.S. According to Gene Quinn, that could all change soon. On PLI's Patent Law Practice Center, he writes about a patent relating to a potential vaccine that caught the attention of the National Institutes of Health. LinkedInFacebookTwitterEmail this Story
  • How To Hear What Is Sometimes Not Being Said
    Knowing how to read a public company's financial statements can help you read between the numbers to extrapolate relevant information, spot red flags, gauge the financial health of a company, and better communicate with business and financial professionals. Learn more at the Jan. 30 audio briefing Reading Public Company Financials -- What You Need to Know. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
I attribute my success to this: I never gave or took any excuse."
--Florence Nightingale,
British social reformer, nurse and statistician


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