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business roundtable statement on the purpose of a corporation August 19, 2019

Posted by Bradley in : markets, Uncategorized , add a comment

The Statement on the Purpose of a Corporation emphasizes stakeholders – all stakeholders and not just shareholders. The announcement states:

Since 1978, Business Roundtable has periodically issued Principles of Corporate Governance. Each version of the document issued since 1997 has endorsed principles of shareholder primacy – that corporations exist principally to serve shareholders. With today’s announcement, the new Statement supersedes previous statements and outlines a modern standard for corporate responsibility.

The announcement of this change makes sense in the current (uncertain) political environment, but what it may mean in practice is unclear. Before the announcement corporations put a lot of effort into seeming to care about corporate social responsibility and esg measures (it is hard to monitor how real any of this is) . After the announcement many shareholders will continue to demand their profits.  

undocumented minors in america August 15, 2019

Posted by Bradley in : ethics, Uncategorized , add a comment

The 9th Circuit interpreted the settlement in  the Flores litigation to the effect that minors entitled under the settlement agreement to be held in safe and sanitary conditions have the right to “adequate sleep, essential hygiene items, and adequate, clean food and water” and that the district court’s decision that held this did not modify the safe and sanitary conditions provision of the settlement agreement. The safe and sanitary language was not too vague to be enforced. The court wrote:

Assuring that children eat enough edible food, drink clean water, are housed in hygienic facilities with sanitary bathrooms, have soap and toothpaste, and are not sleep-deprived are without doubt essential to the children’s safety. The district court properly construed the Agreement as requiring such conditions rather than allowing the government to decide whether to provide them.

It is shocking to think that the government argued that it was not necessary to provide incarcerated minors (children) with soap and water and ensure that they were not sleep deprived.

university of miami law dean- tony varona June 11, 2019

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We have a new Dean of the Law School.

100 years of women in english law February 18, 2019

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The UK Association of Women Judges is launching an open lecture series celebrating 100 years of women in law.

The launch event – which marks the centenary of women’s entry to the legal profession – will be held at the Supreme Court, Little George Street, London SW1P 3BD – on Thursday March 21, from 6pm to around 8pm.


brexit podcast January 14, 2019

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This week, in anticipation of tomorrow’s vote in Parliament: The Chaos of Brexit (Miami Explainer Season 2, Episode 1).

university of miami school of law dean search January 10, 2019

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Here is the ad . I am a member of the search committee.

one more light November 27, 2018

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I can’t get over how relevant (though heartbreakingly) this seems to the situation we are in right now:

remembrance/veterans’ day November 12, 2018

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My father and both of my grandfathers served in WWI and WWII. They were lucky to survive, but their service had an impact on their lives afterwards and on the lives of all who loved them. People who waited for them to come home, fearing that they might not. People who lived in a world that was different because of their sacrifice from how it might have been if they had not made that sacrifice. They felt an obligation to put their lives at risk in the service of others. Their country, yes, but a vision of their country that was worth a great and personal sacrifice.

brexit insanities October 24, 2018

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As the House of Lords prepares to debate a People’s Vote on Brexit tomorrow, Dominic Raab declines to appear before the House of Lords’ EU Committee until a deal with the EU has been finalised. The Committee notes that this:

inhibits the Committee in fulfilling its obligations in scrutinising the progress of Brexit negotiations at this vital stage, and flies in the face of the commitment in your letter of 17 July, “to give evidence on a regular basis.”

Meanwhile the EU Energy and Environment Sub-Committee wrote to Michael Gove, with some questions about what might happen in a no deal scenario (including questions about how long after Brexit it might take for the UK to be able to export animals and waste to the EU, issues with respect to the safety of chemicals and about when the UK might reclaim jurisdiction to make decisions about fishing in UK waters).
Parliament seems to have been doing a decent job of trying to focus on a lot of the technical problems associated with Brexit, but the ultimate shape of the withdrawal seems to be pretty much up in the air.

implications of brexit for innovation in private law September 25, 2018

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I have reviewed Horst Eidenmueller, Collateral Damage: Brexit’s Negative Effects on Regulatory Competition and Legal Innovation in Private Law (May 7, 2018) at Jotwell here.