Business Law News. Crime Stories, Law on News and Legal Publications in November, 2011

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WCBI Investigation results in arrest of McDonald's employee for theft
WGMD RadioNovember 1, 2011

A month-long investigation into an internal theft at the McDonald's on Racetrack Road in Berlin has resulted in the arrest of an employee. The Worcester County Bureau of Investigations began investigating the theft in late December. ...more »

Goldman buys real estate portfolio from Lehman
MSN MoneyNovember 1, 2011

The sale was previously approved by the bankruptcy court in August. The portfolio is comprised of 10 buildings representing 3 million square feet of space and 30 percent of all commercial real estate in Rosslyn, Va. Monday Properties, which originally ...more »

Business Law News and Stories

Advertising
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Goldline Execs Charged With Fraud
ABC NewsNovember 1, 2011

The company has been charged in the court filing with misdemeanors that include theft by false pretenses, false advertising, and conspiracy, the City Attorney's office said. In addition to the charges against the company, the complaint accuses former ...more »

Foreign Investments
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Tampa man pleads guilty to bilking investors from Mobile area, elswhere, out ...
al.com (blog)November 1, 2011

Klatch, who formed the hedge fund in January 2009 with Timothy Sullivan, admitted that he and others solicited investments by providing investment prospectuses that contained false and misleading information. Sullivan died, according to law enforcement ...more »

Antitrust Law, Domestic
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Obama Gives Boost to D.C. Law
U.S. News & World Report (blog)November 1, 2011

Venable's Washington office, which depends on regulatory and government work for 40 percent of its revenue, now helps Southern California-based entertainment and biotech clients with interests that involve federal regulation, investigations, ...more »

Franchising
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Recession Could Be Best Time for Executives to Own a Franchise
PR Newswire (press release)November 1, 2011

As senior executives leave their jobs with golden parachutes or receive big buyout offers, business leaders can use their considerable leadership and management skills to start their own businesses. Buying a franchise offers new entrepreneurs several ...more »

Gaming Law
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Call grows louder for Maine to regulate gambling as more casino developers ...
Washington PostNovember 3, 2011

Unlike most states that allow casino gambling, Maine has no state regulations addressing issues such as how many are allowed, where they can be located or how their revenues should be shared with the state, Barrow said. “It's an industry that's growing ...more »

Banking Law
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Photo Release -- WSFS Announces New Board Director Former Delaware Chancellor ...
MarketWatch (press release)November 1, 2011

Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.2 billion in assets on its balance sheet and $9.3 billion in fiduciary assets, including approximately $1.0 billion in assets ...more »

Government Construction Contracts
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Alcoa to spend US$2.1B on modernization
Financial PostNovember 7, 2011

Alcoa said Monday it secured 25-year electricity contracts with the Quebec government for all three smelters, allowing the development plans to move forward. Public-owned utility Hydro-Quebec will supply the power at preferential rates. ...more »

Business Formation
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Business watch for crime
Camden Haven CourierNovember 2, 2011

As well as protecting his business premises, David believes business owners should take the next step in the security process by proactively assisting police to identify criminals. “The key to getting results is to accurately record the activity in and ...more »

Institutional Investing
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Walter Investment Management Corp. Announces Third Quarter 2011 Financial Results
MarketWatch (press release)November 8, 2011

Certain statements in this release and in any of Walter Investment Management Corp.'s public documents referred to herein, contain or incorporate by reference "forward-looking" statements as defined in Section 27A of the Securities Act of 1933, ...more »

Commercial
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JMBM's Land Use and Zoning Practice Receives National First-Tier Ranking and ...
MarketWatch (press release)November 1, 2011

...Law Firms in the nation, and in Los Angeles, in the area of land use and zoning." JMBM's particular strength is handling all permitting and compliance issues for businesses seeking to locate and develop new sites, relocate or expand operations. ...more »

Charles River Announces Third-Quarter 2011 Results from Continuing Operations
MarketWatch (press release)November 1, 2011

... the ability to convert backlog to sales; special interest groups; contaminations; industry trends; new displacement technologies; USDA and FDA regulations; changes in law; continued availability of products and supplies; loss of key personnel; ...more »

Commercial Bankruptcy
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Warning on clean energy shonks
The AgeNovember 1, 2011

His comments came after a similar program in the US suffered its second high-profile bankruptcy when Beacon Power Corp joined the major solar firm Solyndra in announcing it had gone bust after receiving government loan guarantees. ...more »

Internal Investigative Services
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More special treatment claims at UQ
The AustralianNovember 8, 2011

IN the days before the University of Queensland became embroiled in a scandal that has resulted in its two most senior executives tendering their resignations, the university's secretary finalised two unrelated internal investigations into alleged ...more »

Commercial Leasing
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CommonWealth REIT Announces 2011 Third Quarter Results
MarketWatch (press release)November 2, 2011

In August 2011, CWH entered an agreement to acquire a CBD office property located in Chicago, IL with 1006574 square feet. This property is 95% leased to 56 tenants for a weighted (by rents) average lease term of 5.1 years. The purchase price is $150.6 ...more »

International Transactions
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Pomerantz Law Firm Investigates Claims on Behalf of Investors of Sonesta ...
MarketWatch (press release)November 3, 2011

... is investigating claims on behalf of investors of Sonesta International Hotels Corporation ("Sonesta" or the "Company") concerning the proposed acquisition of Sonesta by Sonesta Acquisition Corporation in a cash transaction valued at $174 million. ...more »

Communications & Media
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Rights panel finds grounds for discrimination in cases
Kennebec JournalNovember 1, 2011

Commission findings are not law but may become grounds for lawsuits. The finding upheld a recommendation of commission investigator Domini Pham. Leathers had worked at the lab -- most recently as a media production technician -- for 14 years prior to ...more »

Biz deadline delayed due to Ala. immigration law
BusinessWeekNovember 5, 2011

Alabama has pushed back the deadline for businesses to get their state and county licenses because of difficulties with the state's tough new immigration law. State Revenue Commissioner Julie Magee signed an order extending the ...more »

Construction & Development
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Group Wants Mormon Church Blocked From Future Liquor Law Debates
Fox NewsNovember 1, 2011

They contend such limits on competition in liquor sales and distribution places an unfair restraint on trade that violates federal antitrust laws. Passed by lawmakers earlier this year, most of the new laws became effective in July. ...more »

Locating Funds
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Loss of $24M in funds feared
Record-SearchlightNovember 1, 2011

By Joe Szydlowski Officials across the north state say they're concerned they could lose $24 million in federal funds for rural schools and roads if Congress doesn't renew an 11-year-old law. "When you get off the I-5 corridor, ...more »

Contracts Involving State & Minicipality
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Farm Bureau sues over using farm land for solar farm
Central Valley Business TimesNovember 1, 2011

Williamson Act contracts include an agreement from landowners to maintain their property in agricultural use for 10 years. In return, landowners receive a property tax assessment based on the agricultural value of the property rather than on its ...more »

Mergers, Acquisitions & Divestitures
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Mosquito Appoints Two Directors
Resource Investing NewsNovember 1, 2011

His specialties include all aspects of sourcing, identifying, negotiating, structuring and re-structuring investment transactions with emerging growth public companies, including mergers, acquisitions, divestitures, venture capital, private equity, ...more »

Corporate Finance & Taxation
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Local businessman pleads guilty to tax evasion
phillyBurbs.comNovember 3, 2011

TRENTON — A co-owner of a Camden County catering business pleaded guilty Wednesday to income tax evasion. Peter Katsaros of Evesham entered a guilty plea in federal court before Judge Anne E. Thompson, according to a news release. ...more »

Mortgages & Foreclosures
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Some plans for addressing American debt
SalonNovember 7, 2011

In his own-to-rent proposal, banks rent foreclosed properties back to their original owners, allowing people to stay in their homes and pay market rates. “This keeps people in their homes, reduces foreclosure sales, stops houses being trashed when ...more »

Creditor's Rights
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Beacon Power declares bankruptcy; second loan guarantee recipient to falter
Washington PostNovember 1, 2011

The whole point of the loan guarantee program is it was designed to help companies that weren't quite ready to get a commercial loan,” he said. Beacon also won a $24 million Energy Department grant to build a new facility in Hazle Township in northeast ...more »

Non-Profit Corporations
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Lukas-Howe: Saying no to tar sands oil
vtdigger.orgNovember 2, 2011

Ingrid Lukas-Howe of Barre, an ordained minister, spiritual director and founder of the non-profit organization Women & Children First. If you believe there is no global warming and if you think big oil companies have our best interest at heart, ...more »

Customs Disputes
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The fallacy of 'secure communities'
PoliticoNovember 2, 2011

John Morton, the immigration and customs enforcement director, recently announced a record number of deportations, the third year in a row that a new record was set. ICE credits much of its success to a targeted enforcement strategy, ...more »

Professional Corporations
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Capital Markets Partner Tony Jacobsen Joins Sidley Austin, Shanghai
MarketWatch (press release)November 1, 2011

Sidley was also named the USNews -- Best Lawyers "Law Firm of the Year" in both Corporate Law and Securities Regulation in the 2011/12 survey (the first year of such designations). BTI, a Boston-based research and consulting firm, has named Sidley as ...more »

Debt Collection
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MF Global, Tribune, Harrisburg, Beacon, Lehman: Bankruptcy
BusinessWeekNovember 1, 2011

The Oct. 28 brief for Mayor Linda D. Thompson describes how the 4-3 vote of the by the city council purporting to authorize bankruptcy was merely a resolution not having the force of law. In addition, the city council majority failed to utilize ...more »

Public Offerings
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Dann gets emotional in pleading his case
Columbus DispatchNovember 4, 2011

... informally establish committees that are not subject to the law. That's our case for openness. The state did not state its case for secrecy. By David Eggert Ex-Attorney General Marc Dann now represents many clients in Cleveland facing foreclosure. ...more »

Debt Settlement
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Namibia: Usakos Reduces Water Debt
AllAfrica.comNovember 1, 2011

In June, the embattled town council signed a debt settlement deal with Namwater, committing itself to paying off N$100 000 on the arrears and, included in this amount, the normal monthly usage charges that range between N$40 000 and N$70 000. ...more »

Reorganizations & Restructuring
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Solar Job Watch at SunPower, First Solar, ECD, and SunWize
Greentech Media (blog)November 8, 2011

CEO shifts, layoffs, and reorganizations. Expect more of this to come in the solar sector. The solar industry is going through its toughest sales year amidst some painful but necessary consolidation, contraction, and restructuring. ...more »

Directors' & Officers' Liability
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Premier Service Bank Announces Financial Results for the Third Quarter of 2011
MarketWatch (press release)November 1, 2011

In the Bank's lawsuit against the FDIC, as receiver for 1st Centennial Bank, and against certain former officers of 1st Centennial Bank and 1st Centennial's director and officer liability insurance carrier, the Bank negotiated a settlement, ...more »

State & Minicipal Bonds
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Huron Consulting Group Adds Huron Legal Managing Director
MarketWatch (press release)November 2, 2011

Feliciano will help Huron Legal clients manage costs through improved strategy and business efficiencies, and provide e-discovery and document review solutions to address their complex business needs. "Legal departments and law firms are under ...more »

False Advertising
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Law Offices of Howard G. Smith Announces Class Action Lawsuit Against HCA ...
Bradenton HeraldNovember 1, 2011

Specifically, the Complaint alleges that the Registration Statement and Prospectus failed to disclose that: (a) the Company improperly accounted for its prior business combinations in violation of Generally Accepted Accounting Principles, ...more »

Trade Associations
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New Chem-Trade manager beat the odds to reach success
Longview Daily NewsNovember 13, 2011

When George was young he had a few minor run-ins with the law, she said, but he matured. When he was 21, he chased and tackled a purse snatcher, an act that made The Daily News and swelled his mom's heart with pride. George could have become either ...more »

Federal Contracts
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Clark can't claim Rosie the Riveter tag
Vancouver SunNovember 1, 2011

Premier Christy Clark has been fast off the mark in appropriating the $8-billion federal contract to build an icebreaker, Coast Guard and naval support vessels in British Columbia shipyards as ...more »

Unfair Competition
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Hollywood Foreign Press Suffers Setback in Publicist Lawsuit
Hollywood ReporterNovember 3, 2011

The HFPA also asked the judge to remove from the suit Stars' request for attorney's fees and restitution under the unfair competition law. The judge denied the motion to strike out any possible payment of Stars legal fees but did agree to strike out ...more »

Federal Grants
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City Plans Direct Application for Federal Grants
89.7 WUWM - Milwaukee Public RadioNovember 2, 2011

Hines says the city will apply to the federal government if, and when, funding becomes available. The Obama administration's American Jobs Act calls for $50 billion in direct infrastructure funding. Congress has not been acting on the plan because of ...more »

Venture Capital
[read all news]
Clean Tech Venture Capital Soars
Energy and CapitalNovember 2, 2011

According to the article, venture capital for cleantech companies is still increasing and showing no signs of slowing. Clean energy is the future, and the sector is determined to make that a reality. And this quarter has been a successful one for ...more »

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