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Handicapping Bush's Judicial Nominations
With President Bush's decision to renominate 12 contentious appeals court candidates, the die seemed cast for a repeat of nominee-related filibustering in Congress. A relatively simple compromise could free up some judges, but divisions seem to be hardening. Senate Majority Leader Bill Frist has effectively threatened to stop filibusters with a rare parliamentary maneuver referred to by fellow Republicans as the "constitutional" option but described by Democrats as the "nuclear" option.BP plc suffered a big blow on Thursday when a federal judge said it owed indemnification to Transocean for any compensatory damages that might arise from the Deepwater Horizon oil spill two years ago. Will BP now suffer the same fate with the other rig-operator at the center of the disaster, Halliburton?
What a headache the YieldPlus bond fund has been for Schwab. Last fall it agreed to pay $235 million to investors who claimed they were misled about the fund's subprime mortgage-backed portfolio. And now the company--but not the former execs supposedly at the center of the investigation--is ponying up to resolve similar allegations by regulators.
MCI-Verizon Plans to Slash Legal Team
The proverbial blood may soon hit the floor, thanks to Verizon's proposed $6.7 billion acquisition of MCI. The two telecom giants currently boast 357 attorneys, a number set to shrink if the deal proceeds. And outside law firms would likely lose a big client as well. The deal is far from complete, but as Timothy Casey, MCI's former chief technology counsel puts it, "Every firm that has a telecom practice is going to get squeezed" by telecommunications industry consolidation.Beer distributors' fee award goes flat in litigation against Anheuser-Busch
A trio of beer wholesalers who claim they spent $5 million litigating with Anheuser-Busch over distribution rights are entitled to legal fees but will get zero, in part because a jury verdict left them almost a quarter million dollars poorer.Endless Summer Casual in New York and Washington, D.C.
San Francisco's Orrick, Herrington & Sutcliffe's New York office resisted the everyday-casual epidemic until recently when partner-in-charge Larry Fisher raised the white, khaki flag. "Ultimately, you issue a memo and say, 'Oh screw it,' and move on," sighed Fisher. A report by The National Law Journal confirms that everyday business casual at big law firms has indeed passed the tipping point.Merger Would Make Pillsbury Key D.C. Player
Pillsbury Winthrop is poised to make its most ambitious attempt yet to crack the D.C. market by swallowing Shaw Pittman -- a move that could instantly transform the San Francisco-based firm into a top-tier Washington player. The merger could catapult Pillsbury into the top five highest-grossing firms in the region.Trending Stories
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