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April 23, 2010 Sign up Forward Archive Advertise Legal News in Brief   Corporate Spotlight  Report: Goldman director might have told Galleon of Berkshire deal U.S. investigators suspect a Goldman Sachs director gave confidential information about a planned investment in the bank by Warren Buffett's Berkshire Hathaway to hedge fund manager Raj Rajaratnam, a source said. As part of its investigation into Rajaratnam and Galleon Group, the government has been looking into whether Goldman director Rajat Gupta provided information before it was made public, according to The Wall Street Journal. The Wall Street Journal (tiered subscription model) (4/23) Analysis: Goldman condemned itself to the fate it faces: Regardless of what becomes of a lawsuit brought by the U.S. Securities and Exchange Commission against Goldman Sachs, the bank will continue to take a beating from the public -- and that might be the proper outcome, according to The Economist. "No firm has combined such red-blooded dedication to profit and high pay with so little appreciation of the state's generosity, in saving it from following Lehman [Bros.] and in propping up finance with subsidies and guarantees," The Economist notes. The Economist (4/22) Other News SEC may look beyond Goldman Sachs Los Angeles Times (4/22) Rep. Issa questions SEC's motives in Goldman Sachs suit The Washington Post (4/21)   National News  Analysis: Fed's monetary policy troubles some within central bank The Federal Reserve has kept short-term interest rates close to zero for more than a year, and its decision to keep them there is stirring up some dissent within the central bank, according to The Economist. Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, said the policy is encouraging banks and investors to boost leverage and take on risk in their "search for yield." With gross domestic product rising, the stock market fairly healthy and modest gains in employment, debate about the initiative can't be put off forever, The Economist notes. The Economist (4/22)   Legislative Dispatch  Obama calls on Wall Street to back regulatory reform Wall Street and Washington should work together to make sure the financial crisis doesn't happen again, President Barack Obama told the biggest names in New York. "I want you to join us, instead of fighting us in this effort," he said. Obama said the financial crisis and ensuing loss of 8 million jobs were "born of a failure of responsibility from Wall Street all the way to Washington." USA TODAY (4/22), The New York Times (tiered subscription model) (4/22), CNNMoney.com (4/22)   Employment Focus  Employees sue over termination of pension plan Employees and retirees are suing Augsburg Fortress after the company's pension plan was terminated because it couldn't pay its pension obligations. Workers contend the employer is using its connection as a publisher for the Lutheran church to avoid meeting its obligations under federal law. The company said it terminated the plan so portions of the pensions could still be paid. The Wall Street Journal (tiered subscription model) (4/22)   Supreme Court and Federal Court Watch  Court may reopen 90-year-old Great Lakes suit The U.S. Supreme Court is considering whether to reopen a 1922 case that sought to create a permanent divide between the Great Lakes and Mississippi River ecosystems. The case was originally brought by states who feared that a canal linking the two bodies of water would drain the Great Lakes. These days, environmentalists are more concerned that connecting channels make it too easy for invasive species such as Asian carp to spread from one body of water to the other. The New York Times (tiered subscription model)/Greenwire (4/22) Supreme Court sides with Xerox in pension dispute The U.S. Supreme Court ruled that federal courts should defer to pension administrators when disputes arise over ambiguous pension-plan rules. The ruling, in a suit brought against Xerox by former employees, hands a victory to the U.S. Chamber of Commerce and a blow to the White House, which had sided with workers in the case. The Boston Globe/Bloomberg (free registration) (4/22) Other News Obama moves quickly to select Supreme Court nominee NYTimes.com/The Caucus blog (4/22)   Other Legal News  Milbank gets a Brazilian office New York-based law firm Milbank Tweed Hadley & McCloy plans to open an office in Sao Paulo, Brazil, joining at least three other U.S. firms that have opened Brazilian offices in recent months. The move gives Milbank access to Latin America's largest economy, which is experiencing growth rates of about 6% per year. Bloomberg Businessweek (4/20)   Professional and Business Development  Tips for avoiding a disagreement in a meeting You can disagree with someone -- even a bully -- without causing a full-blown confrontation, Ellen Weber writes. Begin by confirming that you have heard what the other person has said, and instead of offering your own opinions, ask "what if?" questions, she writes. BrainLeadersAndLearners.com (4/15) Are you making your network uncomfortable? If you continually help out your network connections -- but none of them offer you job leads despite your requests -- it might be time to rethink what you're asking of them, writes Marty Nemko. It doesn't matter how nice you are if you're fundamentally unqualified for the work you're seeking, he notes. Marty Nemko blog (4/20)     Featured Content    How to Influence Behavior 11 Free Ways to Generate Referrals 6 Common LinkedIn Mistakes Small Businesses Make, and What You Should Do Instead Transitioning from Executive to Entrepreneur Systems - A Business That Runs Itself   PLI News  All-new Pocket MBA program is not business as usual Courts sometimes lag in affirming the constitutional rights implicated by new technology platforms. From warrantless e-mail interceptions to regulation of "sexting," government action can result in denial of recognized constitutional rights. Can the Constitution protect free speech and privacy rights in the Digital Age? Find out at the one-hour, audio-only Web briefing, "Protecting Constitutional Rights in the Digital Age," being held May 3, exclusively at PLI Online. Free Friday gets a charge out of court's NRG power decision The U.S. Supreme Court has partially reversed long-standing D.C. Circuit precedent and FERC policy -- now, interveners and regulators who challenge a wholesale power contract are subject to the standard of review established in the challenged contract. Find out the implications in the one-hour, audio-only PLI Web briefing "How Does the Supreme Court's Order in 'NRG Power Marketing v. Maine Public Utilities Commission' Affect Power Sales and Markets?" Become A PLI Member  |  Upcoming PLI Programs  |  Online CLE  |  PLI Publications  |  About PLI   Lawyer Life  Volcano crisis could shift travelers' summer plans Some airlines have started to reduce fares as part of an effort to boost demand to European destinations as carriers begin to recover from the disruption of the Icelandic volcano crisis. Meanwhile, some experts say the disruption in Europe could prompt Asian travelers to visit the U.S. instead of Europe this summer. They also noted U.S. travelers might opt for Caribbean or domestic destinations this summer. The Washington Post (4/22) Fine-tuning the art of matching pasta shapes to sauces Pasta shapes matter, says Jacob Kenedy, chef and owner of London restaurant Bocca di Lupo and author of "The Geometry of Pasta." His book explains which sauces work best with more than 100 different kinds of pasta. Telegraph (London) (4/22)   SmartQuote  Every strike brings me closer to the next home run." --Babe Ruth, American baseball player     Subscriber Tools       Print friendly format | Web version | Search past news | Archive | Privacy policy Advertise Senior Account Director:  Dena Malouf (202) 407-7837 Download Media Kit   Read more at SmartBrief.com A powerful website for SmartBrief readers including: Readers' Choice Search Archive Grab our News Widget Get this RSS Feed Publish your Press Release       Recent PLI SmartBrief Issues: Thursday, April 22, 2010 Wednesday, April 21, 2010 Tuesday, April 20, 2010 Monday, April 19, 2010 Friday, April 16, 2010     Lead Editor:  Jesse Stanchak       Mailing Address: SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005     © 1999-2011 SmartBrief, Inc.® Legal Information