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Vanderbilt’s New PhD Program in Law & Economics
Brian Leiter and David Bernstein report an exciting development: Vanderbilt Law School is starting a new PhD program in “law and economics.� See the official announcement here. The program will be headed by Kip Viscusi and Joni Hersch, two well-regarded law and economics scholars who are joining the Vanderbilt faculty from Harvard Law School. One ... Vanderbilt’s New PhD Program in Law & Economics
The costs of options expensing rules
Larry points us to a new corporate finance blog, Richard Booth’s The Quant. It looks like a great blog. The most recent post is on executive compensation–particularly on the serious problems of expensing options (and the FASB rule requiring it). Here’s a lengthy and informative excerpt (with a couple words from me following): In the ... The costs of options expensing rules
A Better Way to Save Magnificent Trees
Yesterday’s New York Times reported on “a growing movement, from suburban Washington to Los Angeles, to protect mature urban trees — and in some communities, make it a crime to chop them down.” Washington Redskins owner Daniel Snyder, for example, was recently fined $37,000 for removing 130 view-obstructing trees on his riverfront estate, and the ... A Better Way to Save Magnificent Trees
Disney/Pixar Deal: $6 Billion for Lasseter
The Slate has an interesting take on the Disney/Pixar deal. In an article entitled “The $6 Billion Man,” Edward Jay Epstein asserts that Disney is essentially paying $6 billion to obtain the services of John Lasseter, Pixar’s creative guru. Lasseter’s salary last year was about $2.8 million, and the value of his Pixar shares and ... Disney/Pixar Deal: $6 Billion for Lasseter
Wiki shenanigans on the Hill
Via Wonkette (“I know those words, but that [] makes no sense”), I see that congressional staffers have been, ahem, updating their bosses’ Wikipedia entries. Here’s the dispute wiki at Wikipedia, and an informative article from, of all places, Lowell, Mass. Clearly the best part is that someone thought to try to add Scott McLellan’s ... Wiki shenanigans on the Hill
More on Hedge Fund Adviser Registration
Following up on this post, according to an article in today’s FT, 1,000 hedge fund advisers had already registered with the SEC prior to adoption of the registration requirement, so it appears that about 1,800 hedge fund advisers will be registered. Again, there are an estimated 8,000 hedge funds. Granted some advisers likely manage more ... More on Hedge Fund Adviser Registration
Antitrust Law and Competition for Distribution
Thom recently posted about Judge Alito’s comments on the recent Lepage’s decision involving bundled discounts offered to retailers. There is presently much debate among antitrust scholars regarding the proper treatment of “above-cost” price cuts, such as the bundled discounts in Lepage’s. The anticompetitive theory in these cases is not that discounts mask what is effectively ... Antitrust Law and Competition for Distribution
SEC Executive Compensation Proposal Now Available
Click here for the SEC’s 370 page proposing release “Executive Compensation and Related Party Disclosure.” I think I’ll hold off on printing it out until I’m at work. [hat tip: Broc]
Are Buyout Funds Appropriating Profits?
Today’s NYT has a sobering article entitled Public Companies, Singing the Blues. The article discusses a question raised by Daniel Loeb, a famous hedge fund manager, at a dinner of buyout kings in Davos, Switzerland (the site of the World Economic Forum). Loeb’s question: “Why can buyout firms take public companies private and make enormous ... Are Buyout Funds Appropriating Profits?
On disclosure: The hydraulic theory
We know that people respond to incentives, and that behavior will adjust in response to relative changes in price. But I think it’s commonly assumed that the only relevant price change attributable to disclosure regulations is the nominal change in direct costs of compliance. Sure, we all understand that if shareholder or regulatory pressure is ... On disclosure: The hydraulic theory
Hedge Fund Registration Requirement
The hedge fund registration requirements debated extensively in the blawgosphere a few months back (see, e.g., here, here, and here) will take effect on Wednesday of next week. According to this article in the W$J, so far 530 hedge fund advisers have registered and a few hundred more are expected before Wednesday. Recent estimates put ... Hedge Fund Registration Requirement
The Perils(?) of Educating Judges on Economics
Yesterday’s New York Times editorialized on my favorite recent non-story — the one about Justice Scalia’s failure to attend the swearing-in ceremony of Chief Justice Roberts. C’mon guys. As lesser newspapers have already reported, Justice Scalia was in Colorado to teach a previously scheduled ten-hour seminar over two days. He received no honorarium for his ... The Perils(?) of Educating Judges on Economics
