Goldman to buy United Capital for $750M | 10 charged in multimillion-dollar 2016 cyberthefts | Drop in initial jobless claims tops economists' forecasts
May 17, 2019
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Goldman to buy United Capital for $750M
Goldman Sachs has agreed to pay $750 million in cash for boutique wealth manager United Capital Financial Advisers. United Capital, which manages $25 billion in assets, will join Goldman's wealth-management unit and will bring along clients with at least $1 million in assets.
InvestmentNews (tiered subscription model) (5/16),  The Wall Street Journal (tiered subscription model) (5/16) 
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National News
10 charged in multimillion-dollar 2016 cyberthefts
Ten members of a cybercrime network are charged with stealing millions in the 2016 release of malware that allegedly helped them transfer money out of victims' accounts. The US and five other nations worked together on the investigation -- a level of international cooperation that's vital to combating fraud of this scope, said Craig Newman, a partner at law firm Patterson Belknap Webb & Tyler.
The Wall Street Journal (tiered subscription model) (5/16),  The Hill (5/16) 
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Drop in initial jobless claims tops economists' forecasts
First-time unemployment claims fell 16,000 last week to 212,000, the US Labor Department said. Economists surveyed by Reuters had expected claims to drop to 220,000.
Reuters (5/16) 
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Financial and Tax Update
Fed's Brainard: Disappearance of labor-inflation link brings risk
The relationship between inflation and labor, as well as other resource markets, has broken down and could be problematic if the Federal Reserve cannot bring inflation closer to a 2% target, said Fed Governor Lael Brainard. Eventually, Americans could lose faith that inflation will ever meet the target, she said.
Reuters (5/16) 
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Employment Focus
Bipartisan bill aims to build cybersecurity workforce
Lawmakers have introduced bipartisan legislation aimed at attracting more workers to cybersecurity jobs. The Cyber Ready Workforce Act would expand apprenticeship programs by providing grants to colleges and nonprofit groups to help offset attendee costs such as child care, transportation and career counseling.
The Hill (5/15) 
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Supreme Court and Federal Court Watch
Ohio abortion law draws lawsuit
Ohio's law prohibiting abortion in cases where a fetal heartbeat can be detected is facing a legal challenge filed by the American Civil Liberties Union and Planned Parenthood. The plaintiffs say the law, which is poised to take effect July 10, could prevent access to abortion six weeks into a pregnancy.
Reuters (5/15),  The Hill (5/15) 
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Other Legal News
Trump pardons conservative activist and former newspaper publisher
President Donald Trump has issued full pardons to conservative activist Patrick Nolan and former newspaper publisher Conrad Black. Nolan served 29 months in prison after pleading guilty in a racketeering case; Black was convicted in 2007 of four counts of fraud.
CNN (5/16) 
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Professional and Business Development
When making changes, don't go it alone
Before rolling out big changes in policy or products, leaders should consider the potential effects and bring as many stakeholders on board as possible, writes David Mattson, CEO and president of Sandler Training. "The bigger the decision, the more important it is to get your key people to contribute their insights, ideas, and concerns," he argues.
ThoughtLeaders (5/13) 
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PLI News
Practice-Oriented Research: Employment Law Yearbook 2019
PLI PLUS provides access to all PLI Press publications, including the latest edition of Employment Law Yearbook. Each edition provides a comprehensive overview of the most important developments in employment law over the past year, including critical case decisions, legislative changes, government agency actions, and other events of interest to employers, employment and HR professionals, corporate attorneys, and employee advocates.
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New Release: PD Insider's Interview With Matt Galando of K&L Gates
PLI is excited to announce the newest episode of PD Insider, our interview series featuring the leading voices in Professional Development. This month's guest is Matt Galando, Learning & Professional Development Consultant at K&L Gates. Matt sat down to discuss several innovative PD initiatives, including experiential programming, an emphasis on cross-department strategic partnerships, and the value of soft skills for successful legal practice.
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Lawyer Life
Playful wines bring levity to summer celebrations
Wines that inspire a fun, playful mindset are perfect for summer sipping, writes Jill Barth. Portable packaging helps bring an air of summer enjoyment to wines, but other offerings, such as Child's Play wines and Louis Roederer Brut Nature 2009 also inspire warm-weather enjoyment, she writes.
Forbes (5/14) 
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For more hotels, luxury service extends to guests' pets
The Rittenhouse hotel is among Philadelphia properties that are offering luxury services such as room service to guests' pets. Filet mignon, salmon and eggs and organic chicken are all on the menu.
The Philadelphia Inquirer/Daily News (tiered subscription model) (5/13) 
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Give credit where credit is due: simply said, if you want loyalty and best effort, you must be thoughtful.
Estee Lauder,
businesswoman

May is Jewish American Heritage Month

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