Confirmed test results: A new uphill battle for American cyclist Floyd Landis

by Kamran Chaudri October 2 2006, 19:14
I. Introduction



It goes by many different headlines: doping, steroids, performance enhancing drugs (PEDs). It is an issue that rears its head in competitive sports time and time again. A controversy has been building for years and is currently unfolding: allegations of a champion American cyclist having used PEDs during the Tour de France. But the American cyclist that the French accused for so long is retired, and his former teammate now sits opposed to the pointing finger of the cycling world. This time the cycling world has some evidence to support its claims. [1] This article analyzes the charges that the current Tour de France champion cyclist Floyd Landis faces and the course of appealing those charges. [More]

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Sports

Sports Stadiums: Do Franchises Really Need Public Financing to Build Their New Stadiums

by Sandeep Marreddy September 29 2006, 18:54
I. Introduction



Many people have spent a summer night or a Sunday afternoon at the ballpark or stadium watching their favorite teams. These stadiums are an integral part of a professional sports franchises operations. In recent years there has been a surge in new stadiums being built by teams as they take advantage of the willingness of cities to provide public financing. Since 2000 there have been 17 new stadiums built for National Football League and Major League Baseball teams. [1]. In addition, several teams are in discussions for the building of new stadiums in the next few years. [2]. [More]

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Sports | Tax

Where to Open a Business: Consideration of Living Wage Ordinances

by Patrick Clyder September 26 2006, 09:09
A company must keep three factors in mind when trying to decide where to open its doors, “location, location, [and] location.” [1]. Closely related to location, a company might consider traffic flow, highway access, and the presence of other businesses in the area. [2]. The applicable minimum wage is an unlikely consideration for a company that is in the process of selecting a location, but that may soon change. Federal law sets a minimum wage floor, but States can pass their own statutes raising the federal minimum wage. [3]. On the rise, however, is the presence of local ordinances that index minimum wage levels to cost of living increases or that target specific companies. [4]. This article will first briefly examine two such ordinances, one from Santa Fe and one from Chicago, and it will then set out options for companies wishing to do business in cities that have some form of a living wage ordinance. [More]

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Real Estate

Fun With The Tax Code: Changes Abound in 2006 Tax Year

by Sandeep Marreddy September 24 2006, 18:51
I. Introduction



They say that death and taxes are the two sure things in life. That may very well be the case, but taxes and tax law are ever changing. Rates are regularly moved up or down new taxes are added and certain taxes are eliminated. For the 2006 tax year, Congress made several changes that will have an impact on people as they get their financial records together and start preparing their taxes for the April deadline. Some of the changes that Congress made include; The Pension Protection Act, The Energy Tax Incentives Act and The Tax Increase Prevention and Reconciliation Act.[1]. The article focuses on whether changes to tax law will actually be beneficial to individual taxpayers. [More]

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Tax

Where Have You Gone Doogie Howser M.D.? A Nation Turns Its Lonely Eyes To You. [1].

by Collin Delaney September 22 2006, 16:13
A brief examination of the fiduciary, ethical, and professional paradigm shifts experienced by the health-care provider following the September 11th terrorist attacks.


As our nation recently observed the fifth anniversary of the September 11th attacks, one cannot help but reflect on the fundamental changes that have occurred since. Foreign and domestic policies have undergone watershed transitions, the effects of which are still being understood. Health-care in the United States, specifically the role of the health-care provider, is no exception.
Significant shifts have occurred and continue to occur in regard to how the government interacts, influences, and regulates health-care. New issues in medical ethics are now being vociferously debated. Even the day-to-day expectations of physicians and hospitals have seen marked change.
While certainly no one with any experience in health-care will classify the pre-September 11th period as simple, the inordinate complexity of health-care administration seems to be metastasizing at ever growing rates. Long gone are the Doogie days of introspectively typing one’s thoughts on the practice of medicine while basked in the green glow of a word processor. [More]

China Approves Citibank-led Consortium’s buy-into Guangdong Development Bank

by Mark Cassidy September 18 2006, 23:48
China’s approval of the Citibank consortium’s buy-into Guangdong Development Bank ends a year-and-a-half battle for control of the bank. [1] The Citigroup consortium, which includes China’s largest insurance company and one of China’s largest electricity distributors, offered approximately three billion dollars for an eighty five percent stake in Guangdong Bank. [2] The Citibank consortium beat out its closest rival a consortium led by France’s Societe Generale. [3] U.S. based, private investment firm, The Carlyle Group, pulled out of the bidding. [4] Despite a last minute attempt to get back into the race, Ping An Insurance's bid was hobbled when they tried to make large donations to the Guangdong provincial government a portion of their bid. [5] Despite their leadership position in the consortium, Citibank will only take a 19.9 percent stake in Guangdong Development Bank, as Chinese law currently forbid a single foreign bank from owning more than 20 percent of a Chinese bank. [6] Both Citibank and Societe Generale lobbied the Chinese government to make an exception to the limitations on foreign ownership of Chinese bank to no avail. [7] China’s entry into the World Trade Organization was conditioned in part on it opening its banking sector to foreign competition. [8] Nevertheless, China has been putting up obstacles to foreign banks that want to set up shop in China. [9] By allowing the Citibank led buy-in to go forward, China seems to be taking a somewhat less protectionist approach.  While Chinese companies will still be for the most part own Guangdong Development Bank, Citibank’s 19.9 percent share allows the bank to receive the benefits of being part of a large, well-financed, and experienced banking organization. [1] Citibank beats out Scoiete Genrale for China's Guangdong Development Bank, Todayonline.com, Sept. 13, 2006, http://www.todayonline.com/articles/14210.asp. [2] Id. [3] Id. [4] China cabinet backs Citibank-led plan to take over Guangdong Devt Bank – UPDATE, Forbes.com, Sept. 12, 2006, http://www.forbes.com/markets/feeds/afx/2006/09/12/afx3009761.html. [5] China’s Ping re-enters bidding for Guangdong Development Bank- source, Forbes.com, Sept. 5, 2006, http://www.forbes.com/business/feeds/afx/2006/09/05/afx2992079.html. [6] Citibank beats out Societe Generale for China’s Guangdong Development Bank, supra, note 1. [7] Id. [8] David Lague, China tries to limit access for foreign banks, iht.com, Sept. 5, 2006, http://www.iht.com/articles/2006/09/05/business/chibank.php. [9] Id.

Tax Mogul H&R Block Tempts Fate by Branching into the World of Everyday Banking

by Lucy Kalnes September 16 2006, 02:06
I. Introduction



Tax preparation giant H&R Block announced at the beginning of this month that in response to lawsuits brought by angered taxpayers about the company's Refund Anticipation Loan (RAL) program, it will be revamping the program in an effort to reduce consumer cost as well as, presumably, it's own litigation costs.[1] But will the plan work? [More]

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Tax

Has the Bubble Burst? Economic Implications of a Buyer's Market

by Alicia Filter September 13 2006, 15:53
For the past several years, residential real estate has been a seller's market. With low interest rates and not enough houses to go around, sellers could expect to receive top dollar for their homes and could turn their homes around fairly quickly once they put their homes on the market. In early January, the National Association of Realtors projected that existing home sales would fall this year by 4.4%, but as of early September, that forecast has dramatically decreased, with existing home sales for 2006 projected to fall 7.6% below sales in 2005. [1] The market looks even worse for new home sales, with a 16% fall expected this year. [2] Indeed, it is a buyer's market, and if the bubble really has burst, the economic implications could be far-reaching. [More]

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Real Estate

New Life in an Old Method: A Concise Railroad Law Primer

by Christopher Minelli September 12 2006, 16:22
The reality of the modern world is that fuel prices are enormous compared with averages from as little as ten years ago, and it is improbable that they will decline anytime in the near future. [1] One consequence of current fuel prices is the higher cost of freight and passenger transportation around the country. Carriers must adjust their rates according to a confusing maelstrom of fluctuating fuel costs, federal security requirements pertaining to the war on terrorism, and the instability of steady customers in the lukewarm economy. [2] A solution may be as simple as looking to a transportation method that is over a century old and is conveniently located in nearly all major American markets – the railroad system. Railroad freight and passenger services, and the laws that accompany them, are probably unfamiliar to many practicing attorneys because of the multitude of other transportation options that sellers have preferred over the last half century. [More]

No One at the Helm: Trustee Appointed to Manage Death Row Records

by Jillian McClelland September 12 2006, 00:13
Suge Knight’s hopes of maintaining control of Death Row Records during its Chapter 11 reorganization were dashed on July 7, 2006, when United States Bankruptcy Judge Ellen Carroll placed the company under the management of a case trustee. Judge Carroll cited gross mismanagement of the record company’s finances, stating, "it seems apparent that there is no one at the helm." [1]


The Death Row case illustrates a pervasive tension in corporate reorganizations: at what point does the interest of the creditors trump the vested control of management, which may have driven the company insolvent in the first place? Under certain conditions, the bankruptcy court has the power to transfer control of the estate from the debtor-in-possession to a trustee under section 1104(a) of the Bankruptcy Code. [2] [More]

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