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TOTM Harvard College is cutting its early admissions program. According to the New York Times, which is pleased with this move, Harvard’s purported reasons for cutting . . .
Harvard College is cutting its early admissions program. According to the New York Times, which is pleased with this move, Harvard’s purported reasons for cutting the program are as follows…
Read the full piece here.
TOTM Maybe. WSJ Law Blog reports that SCOTUS may revisit the nearly century old precedent applying the per se rule to minimum resale price maintenance (RPM). . . .
Maybe. WSJ Law Blog reports that SCOTUS may revisit the nearly century old precedent applying the per se rule to minimum resale price maintenance (RPM). Dr. Miles may well be the last vestige of antitrust before consumer welfare’s promotion as the guiding principle of the Sherman Act, which is to say, before economics had a significant role in antitrust jurisprudence. As of today, SCOTUS has not granted cert in Leegin Creative Leather Products v. PSKS, but its agreement to stay a 5th Circuit judgment upholding Dr. Miles may well signal that cert is forthcoming. While there is still some disagreement between antitrust scholars on the issue (Georgetown’s Robert Pitofsky is Dr. Miles‘ most well known advocate), I would venture to guess — and it is not more than a guess — that the majority of antitrust scholars and economists believe that Dr. Miles is misguided.
TOTM After a year long investigation, Michael Giberson (of the excellent Knowledge Problem) points to the DC Attorney General’s announcement that a single retailer has agreed . . .
After a year long investigation, Michael Giberson (of the excellent Knowledge Problem) points to the DC Attorney General’s announcement that a single retailer has agreed to pay a fine of $897.61 without admitting any wrongdoing. Yes, 900 bucks.
TOTM I don’t have much to add to Larry’s post about Eliot Spitzer’s persecution (and non-prosecution) of AIG and Maurice Greenberg, or to Larry’s ongoing crusade . . .
I don’t have much to add to Larry’s post about Eliot Spitzer’s persecution (and non-prosecution) of AIG and Maurice Greenberg, or to Larry’s ongoing crusade against the criminalization of agency costs. But I just can’t resist registering my outrage. How can this sort of thing not make your blood boil? Other than a few lonely voices clamoring in the wilderness of the blogosphere, where is the outcry? I’m not suggesting that those who are enraged by politicized prosecutions in other spheres should take up this cause, but a little sensible appreciation among the rest of us for the costs here would be nice. And while I’m thinking of it, let me add to Larry and Tom K’s despair about the egregious prosecution of Jamie Olis.
TOTM As reported here, Johnson & Johnson scored a major victory last week in a case challenging some of its discounting practices. The jury concluded that . . .
As reported here, Johnson & Johnson scored a major victory last week in a case challenging some of its discounting practices. The jury concluded that J&J had not engaged in monopolization of the market for “trocars,” which are sharp cylindrical devices used in endoscopic surgery. Plaintiff Applied Medical Resources Corp., which sells trocars that compete with J&J’s, had complained that J&J’s discounting practices excluded it from the trocars market. Specifically, Applied complained about J&J’s “bundled discounts,” which provided a discount on J&J’s sutures (surgical stitches) to those hospital purchasers that also bought a certain percentage of their trocars from J&J.
TOTM Congratulations to George Mason University Professor Kimberly Moore, who was confirmed by a vote of 92-0 today by the Senate and will soon take her . . .
Congratulations to George Mason University Professor Kimberly Moore, who was confirmed by a vote of 92-0 today by the Senate and will soon take her place on the Court of Appeals for the Federal Circuit.
TOTM In a post titled, "Backdating: Yes, Virginia, Execs Do Want Inflated Pay," over at PrawfsBlawg, Matt Bodie weighs in on the backdating "scandal."
In a post titled, “Backdating: Yes, Virginia, Execs Do Want Inflated Pay?” over at PrawfsBlawg, Matt Bodie weighs in on the backdating “scandal”? As many of you know, the topic has been much-discussed of late here at TOTM and over at Larry Ribstein’s Ideoblog (who, it turns out, beat us to this punch), and you’re probably wondering when we’re ever going to stop. Well, we (Geoff and Josh) think Matt’s post is so misguided that it merits its own paragraph-by-paragraph rebuttal in this, TOTM’s first-ever co-authored blog post!
TOTM Todd Henderson’s paper finds that compensation arrangements of solvent and insolvent firms are similar to each other. The empirical strategy involves the assumption that firms . . .
Todd Henderson’s paper finds that compensation arrangements of solvent and insolvent firms are similar to each other. The empirical strategy involves the assumption that firms in bankruptcy are a useful control group for testing agency theory explanations of executive compensation because those costs are significantly lower for insolvent firms.
TOTM Securities Mosaic is a fantastic resource for anyone working in the securities field. It provides comprehensive information in six key areas: disclosure, laws, rules, guidance, . . .
Securities Mosaic is a fantastic resource for anyone working in the securities field. It provides comprehensive information in six key areas: disclosure, laws, rules, guidance, news, and compliance centers. In addition, the site features SM Blogwatch, which republishes posts from various securities-related blogs, including this one.
