GLG News(sm): Legal, Economic & Regulatory Affairs

FDA:The Latest Regulation may greatly affect Pharmaceutical companies!

Martin Alpert — Thu, 09 Jul 2009 12:07:23 EST

If the FDA is allowed to ban Vicodin & Percocet Katie bar the door!

P.I.I. on Trial: Poor Decision because of Poor Definitions

Bryan Deehring — Wed, 08 Jul 2009 18:09:14 EST

A U.S. District Court Judge renders a decision because the prosecution could not effectively communicate and present what personally identifiable information is, although it is already defined by the data privacy industry, NIST, the EU, and in a memo from the Office of the President of the United States.

Negative Economic Impact in Pre-Empting State Regualtion

William Downey — Wed, 08 Jul 2009 14:28:25 EST

The economic strength of the United States would suffer considerably if hydraulic fracturing is federally regulated according to the API. Present proposals to include the practice under the EPA regulation would be redundant and increase regulatory costs for drilling by $100,000 per well.

United States position would change after elections in Honduras

Marco Ortiz — Sun, 05 Jul 2009 23:53:23 EST

1 Members of the OAS lack common ground to achive a strong intervention against Honduras' new administration. Although not stressed in the article, Canada's position is surely other countries' view. 2 Authors remain in silence about the conflicts in Latin America between supporters and foes of president Chávez. 3 Biased information has been the rule after every coup and we cannot be sure about the strengh and number of Zelaya's supporters. Is uncerntain if Honduras has reached a point in which stability is a stake over the long term (such as in Nicaragua). In former coups in Latin America United States' position has been to wait until new elections are held. After this, the administration recognizes the new government and support from the OAS, WB, IMF is recovered. Can Honduras' economy survive until the new elections?

A Birthday Still Worth Celebrating

Sam Timpano — Sun, 05 Jul 2009 23:46:53 EST

Recent events in Iran and again in Honduras demonstrate the drift in American foreign policy and contributes to global confusion on what America stands for these days. These are just some private thoughts to share with all. Enjoy the 4th!

Key Issues As House Considers 19% Increase in FDA Budget

Jeff Stier — Wed, 01 Jul 2009 23:06:42 EST

The FDA budget has important implications for the food, drug, and drug device industries.

G.E. Follows Toyota and Nissan to Expoit Michigan's Strengths and Expose Michigan's Glaring Weakness

Jack Lifton — Mon, 29 Jun 2009 00:50:34 EST

General Electric has decided to come to Michigan to employ out of work automotive manufacturing engineers and researchers at bargain prices. "GE said it is looking for specialists in developing composites, machining, inspection, casting and coating technologies for its aviation and energy businesses. The auto industry employed many engineers with expertise in these areas." The Michigan mainstream media seems to believe this will bring jobs for the daily growing army of unemployed low skilled automotive workers who haunt Michigan's I-75 corridor between Detroit and Bay city; there are 100s of thousands of such workers with at most a high school education. Michigan has no aviation and little energy business. GE's products would clearly be intended for other states and other countries, and few such businesses can be expected to come to Michigan to recruit low skilled workers. Will GE pledge to only hire Americans and to build manufacturing plants in Michigan also???

What is, is - Redux

Mark Mariotti — Thu, 25 Jun 2009 12:45:01 EST

Currently the U.S. Government is interrogating and receiving testimony from Mr. Bernanke. The overriding theme of the interrogation (which is BofA) has been obfuscated once again by semantics and Bill Clinton era speak.

Atlanta Candidates Offer No Plans for Using Budget to Generate Growth

Alton Drew — Mon, 22 Jun 2009 15:29:02 EST

This article is important because it gives the investment community some insight into how Atlanta’s political environment may impact the city’s growth. The article also provides some insight into how each mayoral candidate plans to address increasing unemployment in the city.

Russia Changes its WTO Strategy

Yevgeny Volk — Mon, 22 Jun 2009 00:23:02 EST

Moscow's unexpected change of heart over WTO accession has done nothing to help Russia join this organization. Russian decision to abandon its separate WTO bid and start new accession talks to join WTO together with other members of its Customs Union - Belarus and Kazakhstan - means a complete change of negotiating format and positions and an actual revision of previous provisional aggrements already reached between Moscow and WTO. Russia's volt-face questions the credibility of Moscow's pledges and sincerity of its drive to join WTO. Does Moscow really want to join WTO now, at the peak of the global economic crisis? The answer is no. In order to save its uncompetitive industries Russian government tends to rely on tough protectionist policies by imposing new tariff and non-tariff barriers. They contradict WTO standards and expose Moscow to severe pressures from its WTO partners. The Kremlin does not need WTO as a antiprotectionist watchdog that hinders its economic performance.

Investors Financing Lawsuits Presents Ethical Quagmire for Lawyers

Marjorie Simmons — Wed, 17 Jun 2009 16:49:31 EST

Under ethics rules governing lawyer conduct, a lawyer must exercise loyalty and independent judgment as essential elements in the lawyer-client relationship. In most jurisdictions, the legal ethics rules generally require a lawyer may not proceed if there are significant risks that the representation will be materially limited by the lawyer's personal interest(s). Also, such interest conflicts usually cannot be waived by a client's knowing consent unless, despite such conflict, the lawyer reasonably believes the lawyer will be able to provide competent and diligent representation and other of the ethics rules are followed. Because lawyers already have a financial interest in the outcome of litigation, piling on more financial interests could terminally affect a lawyer's ability to represent a client.

Why are merchants in the EU resuscitating their war against bankcard interchange fees?

Duncan MacDonald — Tue, 16 Jun 2009 09:56:27 EST

The battle by merchants in the EU against bankcard interchange fees has been going on for over a dozen years. A Eurocommerce complaint to the EC to reinvigorate the battle rasies questions. Has the EC slowed its concern about the issue and if so why? Is Eurocommerce fearful that the EC now sympathizes with card issuers, perhaps because of the banking crisis? Or is the Eurocommerce filing an attempt to close the war in its favor? Does it reveal new information and arguments? Does it exploit the populist anger in the EU against the banking industry to win Commission support? The Eurocommerce filing iwill be important to the issue in the US if it achieves a cache in Congress and is sophisticated enough to merit disclosure in court documents in New York. If it is more of the same, it could backfire.

Russian motives regarding WTO

Stephen Blank — Mon, 15 Jun 2009 02:07:06 EST

Russia's WTO announcement is important for four reasons beyond international trade. Russia, like the Nazis in the 1930s is desperqate to shore up its currency by forging a trade bloc based around the ruble and by undermining the sovereignty of its neighbors by compelling them to join it. Since it is unlikely this announcment was coordinated with Belarus and Kazakhstan it shows Moscow's contempt for their sovereignty. Finally, this announcement illustrates Moscow's perennial demand for a special status in all internatioinal fora and thus special rights and privileges in them.

Cuba: new OPEC member?

Jose Carrero — Fri, 12 Jun 2009 08:45:08 EST

Altough Cuba may have crude reserves... are they exploitable?Venezuela's oil exports to Cuba increased 22%

FDA:Tobacco soon to be under its Umbrella!

Martin Alpert — Wed, 10 Jun 2009 10:25:11 EST

Will the same issues arise for Preemption when the FDA controls Tobacco?

Have Russia, Kazakhstan and Belarus Decided WTO is Passé?

John Howard — Tue, 09 Jun 2009 18:19:10 EST

Since 1947, many nations have agreed that more or less uniform global trade rules are in the best interests of the global economy. The General Agreement on Tariffs and Trade (GATT) and its successor organization the World Trade Organization (WTO) reflect this consensus. A major benefit of this system is that companies seeking to do business across borders can receive some assurance that their goods and services will be protected from discriminatory tariff and non-tariff treatment, and receive the same treatment as their competitors in the target market or from third countries. However, at this time and depending on how one counts, dozens if not hundreds of "extra-WTO" bilateral and regional trade agreements have been negotiated worldwide. By their nature, these agreements provide benefits to signatory nations that are not available to non-signatory nations. This presents the question of whether these agreements will eventually undermine the WTO and the world economy.

Cuban Oil and the Embargo

William Downey — Tue, 09 Jun 2009 13:00:09 EST

The U. S. Geological Service estimates that the Exclusive Economic Zone contains 4.6 billion barrels of oil and 9.8 billion cubic feet of natural gas. Cuba which estimates reserves at 20 billion barrels, began to sell concessions for exploration and development in the 70,000 square mile zone in 2001. The problem for the Cuban's now is that the primary partner in exploration, development and refining capacity upgrades is Petroleos de Venezuela (PDVSA), which has suffered from a serious reduction in oil revenues, as well as adverse effects from operational difficulties and government liquidity problems. So the real question is how does the embargo affect that development and who is poised to take immediate advantage?

Ending Cuba Embargo - Will It Happen Soon Enough For U.S. Energy Interests?

John Howard — Mon, 08 Jun 2009 10:54:06 EST

Various commentators have stated that significant quantities of crude oil exist off of Cuba's coastline. The question thus becomes: who will provide the investment necessary to extract and refine this crude for consumption? At present, U.S. law prevents U.S. firms from participating in contracts to extract and refine Cuban crude. While that same U.S. law may penalize non-U.S. firms engaging in such extraction by limiting their access to U.S. markets, it would not ban such business in third markets. For many years, large majorities in Congress have signaled their support for loosening or ending the embargo against Cuba. But embargo supporters' adept use of parliamentary processes has enabled retention of the embargo to this day. it is by no means clear that the U.S. government will assign priority to changing this policy in the near future.

Don't Spend the Milk Money Bankrolling Lawsuits

Alan Bloom — Thu, 04 Jun 2009 23:07:59 EST

1. Lawsuit results are unpredictable. New information comes out, a myriad of laws limit recovery, and parties often drop out. No one can be sure what will happen. 2. Costs of lawsuits are unpredictable. The new electronic discovery rules combined with the need to respond to whatever the other side can file makes the costs and course of the suit unpredictable. 3. Most suits are settled. Most defendants have insurance, and insurers like to settle. Counsel that can "soften" the other side and is persistent can often convince even the most reluctant of defendants to settle thus yielding a good return on an investment in a case.

Lawsuits:Can it be the Best Investment?

Martin Alpert — Thu, 04 Jun 2009 08:09:58 EST

Is it really legal to invest in a lawsuit?