Hedge Funds Target Film Productions
Hedge funds have gone Hollywood. Chasing high returns, money managers are plunking down hundreds of millions of dollars to finance films such as 'Superman Returns' and 'Nanny McPhee.' At the same time, the influx of money from hedge funds and private-equity firms is reshaping film-financing deals, leading entertainment lawyers toward lucrative transactions and new clients who might want a little glamour-by-association.
For Bally Total Fitness, Timing Is Everything in Franchising Decision
Bally Total Fitness is one of the most recognized brands in the U.S. fitness industry and the largest purchaser of fitness equipment in the country. The company spends $55 million annually on marketing and media support, and it offers the power of more than 40 years of business success and 20,000 employees that make the company strong ' all key components to a successful and highly sought-after franchising program. So why hasn't Bally implemented a national franchising program?
Law Firms Look At Closing Pay Systems
Unlike the vast majority of businesses in the United States, law firms generally operate under open systems that disclose the compensation of individual attorneys. The closed systems at Jones Day and Greenberg Traurig are major exceptions. But some observers say that law firms are moving toward closed systems as they function more like businesses and less like true partnerships.
Eight Steps for Boosting Associate and Lateral Retention
Attorney attrition is expensive. Replacing departing colleagues means not only recruiting and hiring strong candidates, but also investing in training for the new hires. Cost estimates for replacing an associate are typically between 100% and 200% of the associate's annual salary. The soft costs ' lost institutional knowledge and potential morale problems ' may be even greater. And attorneys who leave with bad feelings about the firm can spread their ill will in the local legal community, or try to lure others to follow. A mass exodus, of course, can cripple a firm.
Practice Tip: Check for the Sophisticated User
As with many things in law, there is a mental checklist. When a client calls seeking advice regarding a new product liability lawsuit, you run through the product liability checklist. What is the product? What is the product used for? What warnings accompanied the product? When was the product manufactured? How did the product allegedly cause injury?
Milberg Weiss and The 'Nigerian Barge' Case
The recent indictment of the securities class-action powerhouse Milberg Weiss Bershad & Schulman and two of its named partners has been the topic of much recent discussion, centering on the law firm's notable refusal to waive the attorney-client privilege during the government investigation, which likely contributed to the government's decision to indict the firm. But the indictment is also notable as the latest high-profile use of the federal mail and wire fraud statutes to combat private-sector corruption.
What Jurors Think Of American Corporations ' And What You Can Do About It
These are challenging times for those of us who represent and defend corporations in litigation. The recent criminal convictions of Enron's Ken Lay and Jeffrey Skilling only confirm what we have known for quite some time ' jurors are skeptical of, and even hostile toward, corporations and corporate executives. '
Increased Scrutiny of Pharmaceutical Company Clinical Trials: The Defense Perspective
In recent large-scale pharmaceutical litigation, plaintiffs' counsel have concentrated significant resources seeking the details of how individual patients in pre- and post-marketing company clinical trials were assessed, characterized, and reported to the Food and Drug Administration ('FDA'). The reason is clear: They are seeking to develop (in the author's opinion unfairly) a story that the pharmaceutical company hid risks and overstated benefits. The efficacy and safety data generated by industry-sponsored studies, and the manner in which the data are analyzed and reported, have therefore become the focus of large-scale pharmaceutical litigation.
Divorce Law and the Same-Sex Marriage Debate
As the debate over the legal status of same-sex relationships has percolated over the last several years ' fueled in part by a wave of recent judicial decisions and statutes extending comprehensive rights to lesbian and gay couples in Vermont, Connecticut, The state's highest court ruled on July 6 in <i>Hernandez v. Robles</i>, 2006 NY Slip Op 5239, that the New York State Constitution does not compel recognition of marriages between members of the same sex. The court noted that whether such marriages should be recognized is a question to be addressed by the Legislature. (In February 2006, in <i>Samuels v. New York State Dept of Health</i>, 2006 N.Y. Slip Op. 01213, 2006 WL 346465 (3d Dept Feb. 16, 2006), the Third Department joined the First Department in holding that a ban on same-sex marriage does not violate the New York Constitution.) It is now up to the New York State Legislature to determine the future of same-sex marriages and correct the inequality that exists for these couples and their families. This two-part article discusses the many reasons supporting such action.
