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Business Law Prof Blog 

Business law resources, information, and news for the academic community
Post Frequency: 11.8/day Last Entry: April 01, 2011 at 11:04:42 Recent Entries: 1183
Go to Business Law Prof Blog, find other Corporate & Securities Law blogs, or browse all law blogs.
I'm on Spring Bread In Vegas
Posted on March 12, 2011Here's your business: Sahara Becomes Latest Victim Of Gambling Industry Meltdown Here's your law: No Override of New Jersey Internet Gambling Bill Veto Expected Here's what jumped out at me from the latter article: "[G]iven a Republican controlled House of...
Being Right Isn't Always That Great
Posted on March 11, 2011Early this week, I posted about the possible increase in corporate relocations to Ohio and Pennsylsvania. That post also mentioned that the North Dakota Publicly Traded Coproration Act seems to have fallen off the proxy and governance radar. Professor Bainbridge...
Schools for Misrule
Posted on March 11, 2011I recently read Walter Olson?s new book, Schools for Misrule: Legal Academia and an Overlawyered America. I opened the book expecting to like it. As a libertarian, I?m sympathetic to Olson?s claim that the United States is overregulated and over-lawyered...
"sex, lies and audiotapes"
Posted on March 10, 2011And with that (from the WSJ), we kick off "the biggest insider trading trial in a generation." Usha Rodrigues shares some of her idle thoughts on the case here. The WSJ also has an interesting graphic of "Galleon's Web" here...
More on Abdicating Responsibility: The Buckeye File
Posted on March 09, 2011Yesterday I noted that a Deutsche Bank analysts publicly apologized to CBS Corp. CEO Leslie Moonves for asking the question everyone wanted answered during an interview. In my view, avoiding the tough and obvious question in that setting is coming...
Pennsylvania and Ohio "Compete," But Delaware Exodus Unlikely
Posted on March 09, 2011Westlaw published yesterday an acticle by Erik Krusch called Corporate Governance: So We Loaded Up the Family and Moved to Ohio?! Here's the beginning: Low corporate taxes and high corporate governance standards combined with discretion for directors sounds a lot...
The Future of Law Practice (?)
Posted on March 08, 2011I have been wondering about the effect of three trends on lawyers in the United States: 1. Outsourcing. United States clients are outsourcing to places like India and China some of their simpler legal tasks, work that young associates and...
Financial Analysts and Charlie Sheen: Taking Us Back to the Future?
Posted on March 08, 2011Deutsche Bank media analyst Doug Mitchelson showed, in my opinion, why investors need to take a closer look at analysts' recommendations. This, from the Los Angeles Times: [CBS Corp. Chief Executive Leslie] Moonves made it clear he wasn't interested in...
Ribstein Article on the Future of Legal Education
Posted on March 08, 2011Joe Yockey at the University of Iowa has brought to my attention a paper by Larry Ribstein addressing the future of legal education, Practicing Theory: Legal Education for the Twenty-First Century. Larry addresses some of the same changes I addressed...
Unusual Tax Deductions
Posted on March 07, 2011CNN has posted a feature on ?10 of the wackiest things taxpayers have tried to deduct." Among the entries: a taxpayer who kept records of his visits to prostitutes and tried to deduct their cost, as well as the cost...
Poison Pills Make for a Distorted Market
Posted on March 07, 2011I guess I really just don't care for poison pills. Today the Delaware Supreme Court upheld the poison pill Barnes and Noble put in place to "protect" itself and its shareholders from Rob Burkle. Yucaipa American Alliance Fund II, L.P....
Knowledge is often essentially worthless without the ability to communicate it effectively.
Posted on March 06, 2011The Wall Street Journal reports on students writing badly at business schools. It's a good thing we don't have that problem at law schools. SJP
The Impact of Citizens United: Anti-Incumbent or Pro-Business?
Posted on March 05, 2011Here at Akron, we recently had the privilege of having Prof. Bradley Smith come to talk to us about the impact of Citizens United on the most recent elections. I was asked to comment on his remarks, and in preparation...
Examination Copies of Casebooks: Are No-Resale Stickers Enforceable?
Posted on March 04, 2011Law professors regularly receive free casebooks and statutory supplements from the legal textbook publishers. We don?t specifically ask for most of these books; the publishers know what courses we teach and send us everything they publish in those subject areas...
Seven-Day Extension for NFL and NLFPA Bargaining
Posted on March 04, 2011So the NFL and the Players' Union have extended negotiations on their collective bargaining agreement. A good choice in my view. Neither side wants to get lumped into the Wisconsin labor mess. After all, both the NFL and NFLPA want...
Should the liberal wing of the Supreme Court change its tune on corporate theory?
Posted on March 03, 2011[DISCLAIMER: This is a rant-in-progress working draft. I reserve the right to claim someone else hijacked my BLPB account to post this.] Writing in dissent in Citizens United, Justice Stevens asserted: ?Nothing in this analysis turns on whether the corporation...
Auto Sales Up, GM Stock Down; Gas Prices Up, Auto Sales Steady?
Posted on March 02, 2011The Detroit Free Press reports that February auto sales for 2011 were up 27% compared to the same month the year prior, and they were at the highest level since August 2008 if you take out the cash-for-clunkers boost of...
Unintended Consequences
Posted on March 02, 2011Last week, I wrote a post on veil-piercing in which I used the phrase "intellectually vacuous." A colleague has kindly pointed out that now, whenever someone Googles the phrase "intellectually vacuous," my name will pop up. -Steve Bradford
Supreme Court Decides FCC v. AT&T
Posted on March 01, 2011The United States Supreme Court just decided FCC v. AT&T, Inc. The Freedom of Information Act exempts from disclosure law enforcement records the disclosure of which ?could reasonably be expected to constitute an unwarranted invasion of personal privacy...
Padfield on the Dodd-Frank Corporation
Posted on March 01, 2011I realize I'm a bit behind the curve here, but I just started shopping my latest paper, "The Dodd-Frank Corporation: More Than a Nexus of Contracts," and posted a copy on SSRN (the preceding link gets you there). Interested law...
Wilkes v. Springside Nursing Home-The Backstory
Posted on February 28, 2011Many people are familiar with Donahue v. Rodd Electrotype, 328 N.E.2d 505, the 1975 Massachusetts Supreme Court opinion that held shareholders in closely-held corporations owe each other fiduciary duties akin to those owed by general partners in partnerships...
Blind Sided?
Posted on February 28, 2011Michael Lewis, author of The Big Short (and The Blind Side, etc.), was sued yesterday for defamation by Wing Chau, an asset manager who was apparently portrayed as one of the main people behind the U.S. financial meltdown. This has...
Stout on Shareholder Primacy
Posted on February 27, 2011Lynn Stout has posted a paper on SSRN entitled "New Thinking on 'Shareholder Primacy.'" Here is the abstract: By the beginning of the twenty-first century, many observers had come to believe that U.S. corporate law should, and does, embrace a...
Bschool.com Names BLPB One of 40 Best Corporate Law Blogs
Posted on February 26, 2011BSchool.com describes itself as "the leading online resource for MBA programs and top online business schools." See who else is on the list here. SJP
Dean Search Announced: University of North Dakota School of Law
Posted on February 25, 2011The University of North Dakota School of Law just announced its search for our next dean. Obviosuly, I'm biased, but I think it's a great place to work and live. We have a small faculty and a small student body,...
Veil-Piercing Redux
Posted on February 25, 2011My previous post on piercing the corporate veil has received some attention here and here. Steve Bainbridge argues that veil piercing should be eliminated. See his full paper on this subject here. I?m sympathetic to this view, especially with respect...
Random Thoughts
Posted on February 24, 2011First, let me say that I also consider it to be very good news that Prof. Bradford is joining us on a full time basis. I'm not sure when the legal blog trading deadline is, but I have to believe...
Foreign Officials Under the FCPA
Posted on February 23, 2011Over at FCPA Professor, Mike Koehler has posted a motion to dismiss in U.S. v. Stuart Carson, et al., as well as his declaration providing "a detailed and complete overview of the FCPA?s extensive legislative history on the 'foreign official'...
Barry and Hatfield on Takeovers
Posted on February 23, 2011Jordan M. Barry and John William Hatfield have posted Pills and Partisans: Understanding Takeover Defenses on SSRN with the following abstract: Corporate takeover defenses have long been a focal point of academic and popular attention. However, no consensus exists on...
Good News (to me, at least)
Posted on February 22, 2011My stint as a guest blogger on this blog is ending. But the good news, at least for me, is that I have accepted an offer to join the blog on a permanent basis. (I will leave it to the...
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Did I harass someone?
Oh, yes. This can be taken in as so many things, especially since you had testif...
How can i sue for a straw purchase?
Anyone can co-sign. A straw purchase would be if you has someone buy the car for...
How to tell if I have been subject to gender discrimination in hiring practices?
You didn't apply for the job. so that's a tough one. Seemingly your Bo...
Is it legal for a company to overwork their employees?
Well, he could 1. Get a new job. Sister, I understand ya, if he's anything ...
Can I sue my employer for being unethical, undue stress, and making false promises to get me to stay at my job?
You can sue him personally for it. It's can fall under harassment and possi...

Did I harass someone?
Oh, yes. This can be taken in as so many things, especially since you had testif...
How can i sue for a straw purchase?
Anyone can co-sign. A straw purchase would be if you has someone buy the car for...
How to tell if I have been subject to gender discrimination in hiring practices?
You didn't apply for the job. so that's a tough one. Seemingly your Bo...
Is it legal for a company to overwork their employees?
Well, he could 1. Get a new job. Sister, I understand ya, if he's anything ...
Can I sue my employer for being unethical, undue stress, and making false promises to get me to stay at my job?
You can sue him personally for it. It's can fall under harassment and possi...








