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Treasury: 4.5M hires qualify for new tax break
Headline Legal News |
2010/07/12 10:05
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| pBusinesses have added 4.5 million workers under a new program that provides tax breaks for hiring unemployed workers, the Treasury Department said Monday./ppIt is unclear, however, how many of those workers would have been added without the tax break./ppPresident Barack Obama signed a law in March that exempts businesses hiring people who have been unemployed for at least 60 days from paying the 6.2 percent Social Security payroll tax through December. Employers get an additional $1,000 credit if new workers stay on the job a full year./ppTreasury released a report Monday estimating that from February to May, businesses added 4.5 million workers who qualify for the tax breaks. Those businesses are projected to save $8.5 billion in taxes./p |
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Immigration to rich countries fell during crisis
Press Release |
2010/07/10 10:05
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| pImmigration to rich countries dropped during the global economic crisis, reversing five years of annual increases as the demand for labor fell, the Organization for Economic Cooperation and Development said Monday./ppA report showed that 4.4 million people migrated to the OECD's 31 member countries — the world's most developed economies — in 2008. That is a drop of about 6 percent from the year before./ppThe fall reverses five years of annual increases of 11 percent, the OECD said in its International Migration Outlook 2010./ppNational data suggest that international migration fell again in 2009./ppUnemployment among male immigrants has risen more than among native counterparts because many immigrants worked in industries badly hit by the crisis, such as construction, hotels and restaurants, the OECD said. Still, few are returning home, it said./ppIn some countries, employment of female immigrants has risen as women take jobs to make up for lost income of their unemployed spouses, it said./p |
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Law firm merger activity picks up
Lawyer Media News |
2010/07/05 09:52
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| pLaw firm merger activity picked up after a sluggish first quarter in part due to a renewed increase in transatlantic marriages between large domestic firms and those headquartered in England. /ppAmong the 10 mergers reported last quarter by legal consultancy Hildebrandt Baker Robbins -- one more than during that time frame last year -- was the union of Washington stalwart Hogan amp; Hartson and London-based Lovells to form Hogan Lovells, which the report characterized as the second-largest since Hildebrandt began tracking quarterly merger activity. /ppA second cross-border marriage of equals, between Chicago-based Sonnenschein Nath amp; Rosenthal and London's Denton Wilde Sapte, was announced last quarter but is not included in that figure because the merger will not be completed until later in the year. /ppIndustry analysts say that after a period of caution, U.S. firms are once again looking for markets in which to expand -- and the obvious one for some is London, where many firms specialize in the kind of corporate transaction work that has long been the bread and butter of New York. /p |
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Ore. trial court to reconsider $100M tobacco case
Lawyer Media News |
2010/06/28 08:59
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| pThe Oregon Supreme Court has ruled that Philip Morris does not have to pay $100 million in punitive damages to the family of a smoker who sued the tobacco giant over its low-tar cigarettes./ppThe case, however, is going to another jury to decide just how much the death of Michelle Schwarz from lung cancer in 1999 will cost Philip Morris — and legal experts say it could easily be another big award./ppA Multnomah County jury in Portland originally awarded the Schwarz family $150 million in March 2002 before the trial judge reduced it to $100 million./ppOn Thursday, the Oregon Supreme Court vacated the $100 million award and sent the case back to the trial court to reconsider the punitive damages after ruling the judge failed to properly instruct the jury./ppThe court said the judge should have told the jury it could not punish Philip Morris directly for harm caused to others besides Schwarz./ppBut the court also supported the trial judge, who had rejected jury instructions the tobacco company had requested./p |
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Bankruptcy judge approves Visteon disclosure plan
Court Line News |
2010/06/28 08:59
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pA Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company./ppOverruling objections from certain shareholders and holders of unsecured trade claims, Judge Christopher Sontchi approved documents describing Visteon's proposed reorganization plan and the process for creditors to vote on it./ppCreditors will have until July 30 to vote on the plan, and Sontchi scheduled a plan confirmation trial to begin Sept. 28./ppThe shareholders could receive nothing under Visteon's plan, and the trade creditors would get no more than 50 cents on the dollar for their claims, which total about $48 million. Their attorneys argued that the disclosure statement outlining Visteon's plan did not contain enough information on the company's valuation, and that the plan itself was unconfirmable because of how it treats various creditor groups./ppAttorneys for Visteon argued that the objections to the disclosure statement were without merit, or that they should be addressed at what promises to be a contentious plan confirmation trial stretching over two weeks.
/p |
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Gibson’s Lawyer Slams Grigorieva’s Claims
Press Release |
2010/06/28 04:59
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pMel Gibson’s lawyer slammed Oksana Grigorieva’s claims that she had been treated cruelly by Mel and that he hadn’t been paying child support.nbsp; His lawyer actually termed her claims as “sensational allegations” because they were meant to simply tarnish his name in the media./ppRight now, the ex-couple is battling over visitation rights.nbsp; Oksana received a restraining order last week causing Gibson’s lawyers to ask for a modification so the star can visit his daughter and spend time with her./ppKolodny, Gibson’s lawyer, told TMZ, “Oksana’s deceitful conduct in trying to terminate Mel’s access to his daughter continues.”/ppLast week, Oksana filed a restraining order against Gibson, and began spreading the rumor that he was not paying any child support.nbsp; The actor already has a tarnished image in the media due to past mistakes he made such as the anti-Semitic remarks.nbsp; It will be interesting to see how this whole debacle resolves between this Hollywood couple.
/p |
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