Entries Tagged as ''
Florida law restricting the ability of gay individuals to adopt deemed unconstitutional
On November 25, 2008, a Florida court ruled that a law restricting the ability of a gay person to adopt was unconstitutional. Miami-Dade Circuit Judge Cindy Lederman explained that there was "no legal or scientific reason for sexual orientation alone...more...
National Museum of Funeral History opens Pope exhibit
The National Museum of Funeral History (Houston, Texas) has recently opened an exhibit entitled Celebrating the Lives and Deaths of the Popes. Here is the Museum's description of this exhibit: [The exhibit] includes a full-scale replica of Pope John Paul...more...
A Business Model that Encourages Irresponsible Lending
Friday's Detroit Free Press and today's San Diego Union-Tribune feature an op-ed I authored about the Treasury Department getting into the credit card business. I argue that interchange and billing tricks and traps are integral parts of a business model that encourages reckless lending and irresponsible borrowing, which is why Treasury is having to step in in the first place. If we're going to bailout the card industry, we should make sure that the business model changes so we don't end up here again.
more...The coming days: The week ahead
The ECB and the Bank of England are almost certain to cut interest rates, and other news
• REPRESENTATIVES of over 190 countries gather in Poznan, Poland, on Monday December 1st for UN sponsored climate-change talks. Ambitious plans to cut carbon-dioxide emissions may be put on the back-burner as countries struggle to tackle the problems of the credit crisis and a nasty recession in the developed world. But rich countries will doubtless congratulate themselves on various “green” initiatives included in stimulus packages announced to combat the economic downturn.
For background, see article ...
How Congress Could Save GM
Ronald Trost is surely one of the sharpest minds in Chapter 11. He negotiated the Chrysler non-bankruptcy bankruptcy back in 1979. (His work is highlighted in Moritz & Seaman, Going for Broke: The Chrysler Story. Jay Westbrook and I still use an excerpt from that book to introduce Chapter 11 negotiations to law students in our casebook.) Ron has recently retired, but he hasn't slowed down a single step. In fact, he's laid out a plan for reorganizing GM.
The plan is ingenious. Believing that there's not enough time left to negotiate a consensual Chapter 11 for GM, Ron has an alternative. He takes the best elements of Chapter 11, then short circuits much of the negotiation process to reflect the current economic realities. He shows how Congress could pass a law to resolve many of the most intractable problems, offer government guaranteed financing, and effectively impose a rapid settlement on all the parties. It is a tough-love solution that imposes some pain on everyone, which is exactly what we should expect from a tough-love kind of guy like Ron.
Read the piece because Ron has a creative idea for saving the auto industry. But for those Chapter 11 afficionados who hang out on this site, read the piece because Ron offers us a vision of the limits of Chapter 11 and ways--in an emergency--to deal with those limits.
This is the first seriously new thinking I've seen: Tough love that might work.
more...Navigation
-
Recent Posts
Blogroll
Contributors
- ABA Journal Top Stories
- Auto Recalls
- Bankruptcy Law Network
- Credit Slips
- EFF.org Updates
- Food and Drug Administration–Recalls/Safety Alerts
- News from the National Academies
- Retirement Income Blog
- The Economist: Briefings
- The Economist: News analysis
- US Consumer Product Safety Commission - Recent Recalls and Product Safety News
- Wills, Trusts & Estates Prof Blog
Sponsors
Categories
- Bankruptcy Law
- Corporate Bankruptcy
- Corporate Law, Corporate Compliance, Legislation &
- Credit and Bankruptcy
- Credit Policy & Regulation
- Discharge, What Can and Cannot Be Forgiven
- Economist Briefings
- Economist News Analysis
- Environmental Law
- FDA Recalls
- Immigration
- Internal Revenue Service (IRS)
- miniLinks
- National Acadamies News
- News Update
- PODCASTS!
- Retirement Planning
- Small Business
- Tax Issues
- Top Legal Stories
- Top Stories
- trustee
- Trusts
- Uncategorized
- Verdict One News
- Wills
- Wills Trusts Estates
Archives
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- February 2008
- January 2008
- December 2007
- May 2007
- January 1970
- December 1969
Meta