Block.

September 18, 2006 | Law.com

Chicago utility giant Exelon and New Jersey's Public Service Enterprise Group have abandoned their $16 billion union after failing to reach a settlement with New Jersey regulators. Last week's decision to terminate the deal followed several failed discussions with state officials and consumer advocates. The companies said that gaps between the settlement positions were insurmountable. Regulators in several states have blocked four of the nine largest utility deals in the past three years.

By Donna Block

5 minute read

March 16, 2005 | New York Law Journal

Kenneth M. Block and Jeffrey B. Steiner, members of Brown Raysman Millstein Felder & Steiner, write that the 1989 amendment to Real Property Law �275 eliminated the statutory obligation of a lender to deliver an assignment upon payment of the outstanding indebtedness, replacing it with the obligation to deliver a certificate of discharge.

By Kenneth M. Block and Jeffrey B. Steiner

10 minute read

March 08, 2007 | Law.com

Generally accepted accounting principles may play second fiddle to newer International Financial Reporting Standards if the Securities and Exchange Commission gives American companies a choice. The issue surfaced Tuesday during a day-long forum the SEC hosted to discuss its "road map" for the convergence of U.S. and international accounting standards. Many of the panelists said given the choice, using IFRS would be welcomed since the standard is a more principles-based accounting method than GAAP.

By Donna Block

4 minute read

January 18, 2005 | Law.com

The ink is barely dry on new rules governing the treatment of employee stock options and already opponents are preparing to lobby the new Congress with an eye toward derailing them. After two years of bitter fighting, The FASB recently published a controversial rule that forces companies to deduct the cost of employee stock options from profits. Many in the high-tech sector say the accounting standard will seriously curtail their operations and cut their reported profits.

By Donna Block

5 minute read

April 24, 2002 | New York Law Journal

A s Enron deteriorated into bankruptcy, many Wall Street analysts maintained buy ratings on its stock. In response, debate surrounding the potential for analyst bias has resurfaced. When an investment bank underwrites an offering, its goal is to create a market for its client`s securities. If that same investment bank issues recommendations to its investors regarding the company with which it has an underwriting relationship, a potential for conflict of interest arises that is generally addressed by the est

By Dennis J. Block And Jonathan M. Hoff

18 minute read

June 26, 2006 | Law.com

For the $16 billion merger between Exelon and Public Service Enterprise Group to get past the Department of Justice, the two utilities must divest six electricity generating plants in the mid-Atlantic. The DOJ unveiled its terms in a lawsuit to block the deal and a proposed settlement agreement filed concurrently in federal district court in Washington. Without the divestitures, wholesale prices for electricity would increase, the DOJ said, causing residential rates for millions of consumers to rise.

By Donna Block

6 minute read

February 09, 2006 | Law.com

The U.S. government expects 2007 deal activity to remain essentially level with the strong performance of the previous two years, according to estimates contained in next year's federal budget. The budget anticipates merger activity to bring in about $240 million in 2007 -- $120 million from the Department of Justice and $120 million from the Federal Trade Commission. The 2006 budget now in effect anticipates Hart-Scott-Rodino collections of $232 million this year.

By Donna Block

4 minute read

March 12, 2008 | New York Law Journal

Kenneth M. Block and John-Patrick Curran, members of Tannenbaum Helpern Syracuse & Hirschtritt, write that developers who are considering the possible availability of tax credits for the development of their contaminated properties must assess carefully, and early on, the relationship between the potential costs of remediation and the anticipated value of the development once completed.

By Kenneth M. Block and John-Patrick Curran

12 minute read

June 06, 2006 | Legaltech News

Say "knowledge management" and you're likely to get a blank stare. This is often because KM�s mission hasn't been communicated or the term has been used too broadly. One KM director tells how a good work product retrieval solution can make a big difference.

By David Shabelman and Donna Block

3 minute read

November 30, 2006 | Law.com

In a move supported by the SEC, NYSE Group and the NASD said Tuesday that they have signed a letter of intent to merge their regulation operations to reduce costs and improve market policing. The new SRO will perform member review, enforcement and dispute resolution functions as well as market regulation for Nasdaq. NYSE Regulation said it will continue to oversee NYSE trading activity. The NASD also plans to make a one-time $35,000 payment per member and to gradually reduce annual dues.

By Donna Block

4 minute read