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| National News | | |
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- Debt ceiling is days away, Geithner says
Treasury Secretary Timothy Geithner said in a letter to Congress that the U.S. government's borrowing will reach the $16.4 trillion debt limit Monday, but that the Treasury plans to resort to "extraordinary measures" to allow it to legally keep borrowing. That will buy the government two months before it is unable to meet its financial obligations, Geithner said. The Washington Post
(12/26)     
| Legislative Dispatch | | |
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- Washington readies final effort to avert "fiscal cliff"
With President Barack Obama and members of the Senate headed back to Washington, D.C., political leaders are preparing to make a final attempt at averting the "fiscal cliff" that economists say could send the U.S. economy back into recession. In a sign that there may be a way to break the standoff, Rep. John Boehner of Ohio, head of the Republican-controlled House of Representatives, urged the Senate, where Democrats hold the majority, to offer a proposal that could restart movement toward a budget compromise. Reuters
(12/26), Politico (Washington, D.C.)
(12/26), Bloomberg
(12/26), The Hill/On The Money blog
(12/27)
| Employment Focus | | |
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- More Affordable Care Act changes start next week
Individuals earning more than $200,000 in wages and married couples earning more than $250,000 will pay an additional payroll tax of 0.9% starting Tuesday, as more provisions of the Affordable Care Act kick in. Other changes that take effect with the new year include a decrease in the Medicare Part D drug-coverage gap, a 2.3% medical-device tax and a $2,500 limit on flexible spending accounts. The Wall Street Journal/Dow Jones Newswires
(12/25)
| Supreme Court and Federal Court Watch | | |
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- Rajaratnam reaches agreement to settle SEC civil case for $1.5M
Raj Rajaratnam, co-founder of Galleon Group, has reached an agreement to pay $1.5 million to resolve a civil case that the Securities and Exchange Commission brought against him. Rajaratnam is serving an 11-year prison sentence for an insider-trading conviction. One of his co-defendants in the civil case is former Goldman Sachs Group director Rajat Gupta. Bloomberg
(12/26)
| Other Legal News | | |
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- Case may provide further clarity on the FCPA
A case before a federal appeals court could provide additional clarity with regard to the Foreign Corrupt Practices Act. The case involves two executives who were convicted of participating in a plan to bribe a telecommunications company in Haiti. At issue is whether the telecom company, which is state-owned, is an "instrumentality" of a foreign official. The Wall Street Journal/Law Blog
(12/24)
| Professional and Business Development | | |
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- 3 questions to help plan your career
Keep your career on track by asking yourself whether you want to be a manager someday, whether you're in the field that most interests you and whether there are any degrees or certifications that you need, Dan Lovejoy writes. "You might be surprised to find that your manager is interested in helping you," he notes. Blogging4Jobs
(12/25)
| PLI News | | |
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An Overview of the FERC's Market Manipulation Authority
Please join Susan J. Court, principal, SJC Energy Consulting LLC, who served as the first director of the Federal Energy Regulatory Commission's Office of Enforcement (from 2005 to 2009), at the Jan. 29 audio briefing FERC: Policing the Physical Energy Markets, as she provides an update on FERC's exercise of its enforcement authority to police the physical energy markets.
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Judge Rader Says "Vitiation" Can't Swallow Doctrine of Equivalents
Recently the Federal Circuit addressed the doctrine of equivalents and reminded district courts not to employ "vitiation" to nullify the doctrine. In Deere & Co. v. Bush Hog, LLC, the grant of summary judgment from the Southern District of Iowa was reversed and the case remanded for further proceedings consistent with the Federal Circuit decision. On PLI's Patent Law Practice Center, Gene Quinn discusses the case.
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