Friday, October 20, 2017
The Harvard Law School Forum on Corporate Governance and Financial Regulation recently contained a notice about the Delaware Corporate Law Resource Center, which I thought might interest our readers as well. The post is reproduced below the line.
The oral histories of iconic Delaware cases are the most interesting, and useful, part of the website to me, though some of the cases do not appear to have materials yet. In addition to the cases, there is an oral history on 102(b)(7) to which my judge (VC Stephen Lamb) and others contributed. I hope the existing materials will be added to and expanded over time.
The University of Pennsylvania Law School Institute for Law and Economics (ILE) is pleased to announce the creation and public availability of a new website devoted to resources relating to the development of the Delaware General Corporation Law and related case law. This website (the Delaware Corporation Law Resource Center) has two principal components. The first is a compilation of resources relating to the Delaware General Corporation Law itself, including a link to the text of the statute, and links to the bills to amend the statute since its general revision in 1967. This portion of the website also includes links to annual commentaries on those amendments, the reports and minutes generated in the 1967 revision process, and memoranda disseminated by the Council of the Delaware State Bar Association Corporation Law Section describing some of the more significant and controversial amendments to the statute.
The second component of the website is a repository for materials constituting oral histories of iconic corporate law decisions of the Delaware courts since 1980, dealing with the director’s fiduciary duty of care, duties in takeovers, and freezeouts by controlling stockholders. This portion of the website is a work in progress, but for some of the cases it already contains the opinions in the case, briefs, selected transcripts of oral arguments, and selected key documents from the record. Most notably, the oral history compilation includes high quality videotaped interviews of lawyers and judges involved in the case, who describe the back story of the case with details not available through review of the courts’ opinions.
The oral history portion of the website also includes the first in a series of composite videos setting forth the background of each case. That premiere video describes the background of Smith v. Van Gorkom and presents, in narrative fashion, selected excerpts from the video interviews of the participants.
ILE hopes and expects that this website, which is freely available to the public, will prove to be a valuable resource for the teaching and development of Delaware corporate law. ILE welcomes suggestions for ways in which the website can be made even more useful to those interested in its subject.
The new website is available here.
Wednesday, October 11, 2017
From our friend and BLPB colleague, Anne Tucker, following is nice workshop opportunity for your consideration:
We (Rob Weber & Anne Tucker) are submitting a funding proposal to host a works-in-progress workshop for 4-8 scholars at Georgia State University College of Law, in Atlanta, Georgia in spring 2018 [between April 16th and May 8th]. Workshop participants will submit a 10-15 page treatment and read all participant papers prior to attending the workshop. If our proposal is accepted, we will have funding to sponsor travel and provide meals for participants. Interested parties should email firstname.lastname@example.org on or before November 15th with a short abstract (no more than 500 words) of your proposed contribution that is responsive to the description below. Please include your name, school, and whether you will require airfare, miles reimbursement and/or hotel. We will notify interested parties in late December regarding the funding of the workshop and acceptance of proposals. Please direct all inquiries to Rob Weber (mailto:email@example.com) or Anne Tucker (firstname.lastname@example.org).
Call for Proposals: Organizing, Deploying & Regulating Capital in the U.S.
Our topic description is intentionally broad reflecting our different areas of focus, and hoping to draw a diverse group of participants. Possible topics include, but are not limited to:
- The idea of financial intermediation: regulation of market failures, the continued relevance of the idea of financial intermediation as a framework for thinking about the financial system, and the legitimating role that the intermediation theme-frame plays in the political economy of financial regulation.
- Examining institutional investors as a vehicle for individual investments, block shareholders in the economy, a source of efficiency or inefficiency, an evolving industry with the rise of index funds and ETFs, and targets of SEC liquidity regulations.
- The role and regulation of private equity and hedge funds in U.S. capital markets looking at regulatory efforts, shadow banking concerns, influences in M&A trends, and other sector trends.
This workshop targets works-in-progress and is intended to jump-start your thinking and writing for the 2018 summer. Our goal is to provide comments, direction, and connections early in the writing and research phase rather than polishing completed or nearly completed pieces. Bring your early ideas and your next phase projects. We ask for a 10-15 page treatment of your thesis (three weeks before the workshop) and initial ideas to facilitate feedback, collaboration, and direction from participating in the workshop. Interested parties should email email@example.com on or before November 15th with a short abstract (no more than 500 words) of your proposed contribution that is responsive to the description below. Please include your name, school, and whether you will require airfare, miles reimbursement and/or hotel. We will notify interested parties in late December regarding the funding of the workshop and acceptance of proposals. Please direct all inquiries to Rob Weber (firstname.lastname@example.org) or Anne Tucker (email@example.com).
Anne & Rob
October 11, 2017 in Anne Tucker, Call for Papers, Corporate Finance, Financial Markets, Joshua P. Fershee, Law School, M&A, Research/Scholarhip, Securities Regulation, Writing | Permalink | Comments (0)
UNIVERSITY OF NEW MEXICO SCHOOL OF LAW
BUSINESS LAW AND/OR INTELLECTUAL PROPERTY
OPEN RANK FACULTY POSITION
The University of New Mexico ("UNM") School of Law invites applications for a faculty position in Business Law and/or Intellectual Property. The faculty position is a full-time tenured or tenure-track position starting in Fall 2018. Entry-level and experienced teachers are encouraged to apply. Courses taught by this faculty member could include general business courses, intellectual property courses, and commercial law courses. Candidates must possess a J.D. or equivalent legal degree. Preferred qualifications include a record of demonstrated excellence or the promise of excellence in teaching and academic scholarship and who demonstrate a commitment to diversity, equity, inclusion, and student success, as well as working with broadly diverse communities. Academic rank and salary will be based on experience and qualifications. For best consideration, applicants should apply by October 22, 2017. The position will remain open until filled. For complete information, visit the UNMJobs website: https://unmjobs.unm.edu/. The position is listed as Open Rank – Business Law Requisition Number 2761.
The University of New Mexico is an Affirmative Action/Equal Opportunity Employer.
Tuesday, September 26, 2017
Belmont University's College of Law is hiring for two professor position. I am in Belmont's College of Business, and have taught in our College of Law, so I selfishly hope they make some great hires across campus. My family loves Nashville and Belmont University is a great place to work.
The Belmont University College of Law, located in vibrant Nashville, Tennessee, invites applications from entry-level and experienced candidates for two anticipated tenure-track faculty positions to begin in 2018-2019. For the first tenure-track position, our primary areas of recruiting interest include business associations, secured transactions and family law. The second tenure-track position is in Belmont’s legal writing, research and advocacy program. Belmont is an EOE/AA employer under all applicable civil rights laws. Women and minorities are encouraged to apply.
Applicants for both positions must have an exemplary academic record and possess a J.D. or equivalent degree. They should demonstrate outstanding achievement or potential in teaching and scholarship, and also share the University’s values and support its mission and vision of promoting Christian values by example. Our goal is to recruit dynamic, bright, and highly motivated individuals who are interested in making significant contributions to our law school and its students. Practice experience is preferred, and teaching experience is desirable. To apply, please contact firstname.lastname@example.org.
The Belmont University College of Law is an ABA accredited law school with approximately 275 students in the heart of Nashville, one of the fastest growing and most culturally rich cities in the country. The Belmont faculty is dedicated to teaching, service to the community, and an active engagement in scholarship. Professors at the College of Law have published in top academic journals, written scholarly books and treatises, and addressed academic conferences across the country. The median LSAT and GPA for the 112 students who entered the law school in August 2017 were 155 and 3.47 (75th percentile: 158 and 3.70; 25thpercentile: 152 and 3.16). The two-year average pass rate (90.5%) for graduates of the College of Law on the Tennessee Bar Examination was the highest among Tennessee law schools. The employment statistic reported to the ABA for the class of 2016 is 94.2%. For more information about the College of Law, please visit our website at www.belmont.edu/law.
Belmont University is a private, comprehensive university, focusing on academic excellence. The university is a student-centered teaching university, dedicated to providing students from diverse backgrounds an academically challenging education. It is located in a quiet area convenient to downtown Nashville and adjacent to Music Row. It is the second largest private university, and the largest Christian-centered university, in Tennessee. Belmont’s student body of over 8,000 includes students from every state and more than 25 countries. It offers seven baccalaureate degrees in over 50 areas of study, master’s degrees in Business Administration, Accountancy, English, Education (including Sports Administration), Music, Nursing and Occupational Therapy, and doctorates in Occupational Therapy, Physical Therapy, Nursing Practice, Pharmacy, and Law.
Friday, September 22, 2017
Below are a few wellness tips, with a focus on student life. I didn’t do all, or even many, of these things consistently well when I was in school, but I was better off when I did, and I paid for it when I didn’t. Many of these things are obvious, but many are also ignored.
Consistent Sleep. Sleep is incredibly important. So many of the things we do during waking hours depend on getting good sleep. Shoot for going to bed at a consistent time and waking up at a consistent time. This might be difficult with roommates and you may need to request new roommates. All-nighters, either from studying or social events, are relatively common in college and law school, but all-nighters almost always produce more poor results than if the studying or social events were more evenly distributed across the semester. Sadly, I see too many students sleep walking through the day, armed with caffeine to self-medicate.
Eat Well. I am always in search of fast, healthy, and inexpensive meals. The options are not plentiful, but I can really feel it when the quality of my food slips. Thankfully, most colleges, like Belmont, have a well-stocked cafeteria, but students still have to make the right choices within the cafeteria.
Intentional Quiet Time. Carving out time that is intentionally quiet and reflective is a constant struggle, but it can really improve the day, even if it is just 10-15 minutes.
Distraction-Free Studying. Sometimes students who did poorly on an exam claim that they studied for “48 hours straight” for my exam. As discussed above, this is a bad idea because it interrupts consistent sleep. I also ask where this studying was done. Often this studying was done in a noisy dorm room, with the TV on, which simply isn’t a very efficient way to study. Students may not read many physical books these days, but the library is still a great place to get in some focused, distraction-free studying.
Quality Social Time. During my first two years of college I had much more social time than during the last two, but I had more quality time during the last two years. Too much of social time is unintentional and low quality – playing video games comes to mind. Better, I think, is to spend social time creating memories, taking trips, having focused conversations.
Extracurricular Focus. Opinions will differ on this, but I think it is better to do a few extracurricular activities really well rather than being involved in fifteen different things, on a very surface level. Personally, I am more impressed by someone who was a captain of a sports team or president of a serious organization or founded and grew their own organization or worked dozens of hours a week or started their own business than I am by someone who just showed up for a plethora of somewhat unrelated organizations. That said, college and even graduate school can and should be places to explore, so, by all means, check out many different extracurricular activities, but try to just pick a couple, relatively early on, to do with excellence.
Wednesday, September 20, 2017
This from friend-of-the-BLPB Andrea Boyack, Professor of Law and Co-Director of Business & Transactional Law Center at the Washburn University School of Law:
POSITION ANNOUNCEMENT – DEAN, SCHOOL OF LAW
Washburn University invites applications and nominations for the position of Dean of the Washburn University School of Law. The Law School is recognized for its outstanding teaching and faculty scholarship and its commitment to public service. It has a highly favorable student/faculty ratio, with an excellent student body drawn from a national pool.
One of only two law schools in the state of Kansas, Washburn University School of Law is located in Topeka, the state capital. It was established in 1903 and has built a long tradition and legacy of providing an outstanding legal education. Washburn Law offers a broad-based curriculum in national and international law to students enrolled in the J.D., LL.M., and M.S.L. programs. It features six centers for excellence, nine certificate programs, and four dual degree programs. The thirty-two full-time faculty members, along with a strong cohort of adjunct professors, teach and conduct scholarship across a wide array of legal specializations. The Law School enjoys a dedicated staff and strong support from the community.
For more than a century, Washburn Law has demonstrated its commitment to academic excellence, innovation, and diversity. Students choose from nearly 150 courses, including a variety of seminars and clinical offerings. From the first year through graduation, the comprehensive curriculum and innovative programs prepare students for success in the legal profession. For over forty years, Washburn’s Law Clinic has functioned as an in-house general practice law firm, providing students the opportunity to represent actual clients in eight practice areas.
Washburn University School of Law has excelled in the categories most important to our students and alumni: a high-quality curriculum; an exceptional faculty; outstanding library resources; favorable graduation statistics, bar passage rates, and employment outcomes; and affordability. Among other accolades, Washburn University School of Law is ranked #2 in the nation for Government Law and is one of twenty law schools recognized by National Jurist as "Top Law Schools for Government Jobs." Washburn Law is also among the top seventeen law schools in the country for Business and Corporate Law programs. Washburn Law’s Trial Advocacy program is ranked in the top sixteen programs this year.
Washburn Law’s six signature programs – the Center for Law and Government, the Center for Excellence in Advocacy, the Business and Transactional Law Center, the Children and Family Law Center, the Oil and Gas Law Center, and the International and Comparative Law Center – establish an extensive learning network for law students and experienced professionals.
Our Legal Analysis, Research, and Writing program is consistently recognized as a top program by U.S. News & World Report, ranked 15th in the nation in the current edition. We are one of only a few law schools in the country with full-time, tenured and tenure-track legal writing professors who are involved in service and scholarship in the national legal writing community.
WashLaw, initiated in 1991 by the Washburn Law Library, is a legal research portal that provides users with links to significant sites of law-related materials on the Internet. It is one of the premier legal internet research services available to a worldwide audience of practicing and academic legal experts. WashLaw also hosts a large number of law-related discussion groups.
Washburn University seeks an exceptional candidate who has the vision, strategic acumen, entrepreneurial spirit, character, and presence to enhance the school’s existing strengths while moving the School of Law forward to a higher level of distinction. The Dean serves as the academic, fiscal, and administrative leader for the School of Law.
The School of Law is seeking a Dean who will work with the School of Law community to articulate a strategic vision to enhance its reputation, strengthen its fiscal position, and lead its efforts to meet the challenges of the changing landscape for legal education. The successful applicant must have a J.D. degree and demonstrate critical thinking and an ability to adapt to the changing market while moving the School of Law forward successfully.
The successful candidate will have a record of experience commensurate with appointment as a Professor of Law; a passion for academic excellence and intellectual inquiry; a recognized dedication to teaching excellence; a demonstrated commitment to institutional and community service; a thorough and current understanding of the legal environment; effective interpersonal and communication skills; and the ability to develop strong relationships with all of the law school’s constituencies thereby growing private financial support for the School of Law. Candidates must possess a collaborative work style, well-developed organizational skills, a commitment to diversity and inclusion, and the highest degree of integrity and professionalism. A record of progressively responsible leadership experience in administration is required.
To be considered, submit electronically in pdf format a cover letter, resume, and at least three references to Joan Bayens at email@example.com. A search committee will begin to review candidate materials by October 27, 2017, and will continue until interviews are scheduled. Employment at Washburn University will be conditioned upon satisfactory completion of a background check. The successful candidate will submit official transcripts prior to hire. Washburn University is an Equal Opportunity Employer. To enrich education through diversity, candidates from underrepresented groups are encouraged to apply.
Friday, September 8, 2017
Gabriel (“Gabe”) Azar and I graduated one year apart, from the same law school. He has an undergraduate degree in electrical engineering from Georgia Tech and started his legal career as an associate practicing patent law at Finnegan, Henderson, Farabow, Garrett & Dunner, LLP. He moved from Finnegan to Paul Hastings and from there to an in-house position with FIS. Currently, he is Senior Patent Counsel at Johnson & Johnson. I’ve admired, mostly from a distance (he lives in Jacksonville, FL now), how Gabe has balanced family, work, and health. We recently reconnected on Strava, and it has been inspiring to see a dedicated husband/father/attorney taking his fitness seriously.
The interview is below the page break.
Friday, August 25, 2017
From an e-mail I recently received:
The University of Alabama School of Law seeks to fill multiple entry-level/junior-lateral tenure-track positions for the 2018-19 academic year. Candidates must have outstanding academic credentials, including a J.D. from an accredited law school or an equivalent degree (such as a Ph.D. in a related field). Entry-level candidates should demonstrate potential for strong teaching and scholarship; junior-lateral candidates should have an established record of excellent teaching and distinguished scholarship. Positions are not necessarily limited by subject. However, there is a particular need for applicants who study and/or teach business law (corporate finance, mergers & acquisitions, and business planning are of particular interest); criminal law; insurance law; and torts (including products liability). Family law and labor/employment are also areas of interest. We welcome applications from candidates who approach scholarship from a variety of perspectives and methods (including quantitative or qualitative empiricism, formal modeling, or historical or philosophical analysis).
The University embraces diversity in its faculty, students, and staff, and we welcome applications from those who would add to the diversity of our academic community. Interested candidates should apply online at facultyjobs.ua.edu. Salary, benefits, and research support will be nationally competitive. All applications are confidential to the extent permitted by state and federal law; the positions remain open until filled. Questions should be directed to Professor William Brewbaker, Chair of the Faculty Appointments Committee (firstname.lastname@example.org).
Wednesday, August 23, 2017
So, don't. Over at Above the Law, Prof. Kerriann Stout wrote 10 Things That Will Absolutely Piss Off Your Law Professor. She notes it is not an exhaustive list, but it is a good one and worth a read. This year, I added a new bit of information to my first day of class about how to interact with me about absences and workload. (I often discuss this in class at some point, but I don't recall ever doing it in both of my classes on day one.)
So, here's the deal. In my classes, I allow a certain number of absences (depending on number of credits and days we meet) without questions for personal reasons, interviews, etc. Here is an example of my attendance clause:
Students are expected to attend every class. Students are permitted to miss up to four classes for other obligations without explanation. This number is to include virtually all absences, including sickness, out-of-town interviews, etc. (but does not include classes missed for religious observance). If classes in excess of four are missed, to avoid withdrawal from the course, a written explanation may be required, including the reason for missing additional classes, the student’s plan to ensure the materials covered in the missed classes will be learned, and the reasons the student should be permitted to continue in the course. The policy is designed to facilitate learning, not impose hardship.
This way, students can plan ahead (and most do), and they can make decisions as professionals must about how they prioritize their time. Despite this policy, every year I have students email me to say they will (or did) miss class because they:
- Have to finish a paper for another class
- Have a law review note or moot court brief due
- Must study for a midterm
- Need to prepare for a clinic meeting/hearing
- Plan to attend an out-of-town football game/baseball game/concert
Again, I do not require nor do I ask for an explanation (unless it is related to excess absences, and no one has tried these reasons for that). My new tack is to explain:
I am interested in you as a human being, so please do not hear me saying I don't care what you do or why. And if you need help, you should ask. And if you can't ask me, talk to our Dean of Students or Dean of Academic Affairs or ask a friend. There is help available; please let us help. What I am about to tell you is not about when you need help. It is about what you say when you can't make it to class or be prepared for that class and about what you say to me (or my colleagues) in communicating that information.
Though I do not require it, I appreciate it when you tell me you cannot be in class on a given day. I am am fine if you very rarely request a pass for the day because you are not prepared. But I don't ask you for reasons for your absence or why you are not prepared. So, if you volunteer that information and tell me that you have to miss class or are unprepared because you need to finish a paper for another class, that says to me, "I have prioritized another class over yours." You may not mean to be saying that, but it is in many ways what you are saying.
I understand that you may be sharing to be honest. I appreciate that, and if I were to ask you, honesty is the best policy. I get that you might be trying to communicate that you are not missing my class for a frivolous reason. Okay, but you have still told me your priorities. I also understand that you might want some level of absolution. I can't and shouldn't give you that. We all have a lot to do, and sometimes life gets in the way of life, so we must make tough choices. That does not make me mad. Just don't volunteer that you made such a choice when you don't need to volunteer that you did.
I raise this for you not because it really upsets me. It doesn't. It may annoy me on a given day, but I can handle it. But it really, really irritates some of my colleagues, even if they don't tell you. And it is an incredibly risky thing to share with a client or boss, who definitely don't want to hear someone else's work is more important than their's.
So, be honest when asked, and take responsibility for your actions. Don't share information unnecessarily. Don't seek external absolution from professors, or clients, or bosses. I am here to teach, and I am here to help you learn, and grow, and find the resources you need to thrive. But I am not here to make you feel better about not doing the work I have asked of you.
Friday, August 18, 2017
On July 15 of this year, The New York Times ran an article entitled, “The Lawyer, The Addict.” The article looks at the life of Peter, a partner of a prestigious Silicon Valley law firm, before he died of a drug overdose.
You should read the entire article, but I will provide a few quotes.
- “He had been working more than 60 hours a week for 20 years, ever since he started law school and worked his way into a partnership in the intellectual property practice of Wilson Sonsini.”
- “Peter worked so much that he rarely cooked anymore, sustaining himself largely on fast food, snacks, coffee, ibuprofen and antacids.”
- “Peter, one of the most successful people I have ever known, died a drug addict, felled by a systemic bacterial infection common to intravenous users.”
- “The history on his cellphone shows the last call he ever made was for work. Peter, vomiting, unable to sit up, slipping in and out of consciousness, had managed, somehow, to dial into a conference call.”
- “The further I probed, the more apparent it became that drug abuse among America’s lawyers is on the rise and deeply hidden.”
- “One of the most comprehensive studies of lawyers and substance abuse was released just seven months after Peter died. That 2016 report, from the Hazelden Betty Ford Foundation and the American Bar Association, analyzed the responses of 12,825 licensed, practicing attorneys across 19 states. Over all, the results showed that about 21 percent of lawyers qualify as problem drinkers, while 28 percent struggle with mild or more serious depression and 19 percent struggle with anxiety. Only 3,419 lawyers answered questions about drug use, and that itself is telling, said Patrick Krill, the study’s lead author and also a lawyer. “It’s left to speculation what motivated 75 percent of attorneys to skip over the section on drug use as if it wasn’t there.” In Mr. Krill’s opinion, they were afraid to answer. Of the lawyers that did answer those questions, 5.6 percent used cocaine, crack and stimulants; 5.6 percent used opioids; 10.2 percent used marijuana and hash; and nearly 16 percent used sedatives.”
There is much more in the article, including claims that the problems with mindset and addiction, for many, start in law school.
After reading this article, and many like it (and living through the suicide of a partner at one of my former firms), I decided to do a series of posts on Law & Wellness. These posts will not focus on mental health or addiction problems. Rather, these posts will focus on the positive side. For example, I plan a handful of interviews with lawyers and educators who manage to do well both inside and outside of the office, finding ways to work efficiently and prioritize properly. My co-editors may chime in from time to time with related posts of their own.
Thursday, August 17, 2017
The Executive Committee of the AALS Section on Business Associations seeks to recognize Section members who demonstrate exemplary mentoring qualities. We seek nomination letters on behalf of a deserving colleague (please no self-nominations) on or before November 1, 2017, sent to Professor Anne Tucker at email@example.com.
Nominations should address personal experience with the mentor, and any additional information illustrative of the nominee’s dedication to mentoring including qualities such as:
- Is eager to discuss others’ early ideas and contributes to the development and improvement of others’ work;
- Promotes and encourages the success of junior scholars by reading and providing meaningful and useful feedback on drafts;
- Promotes a supportive and rigorous environment for conference presentations;
- Speaks frankly, provides useful professional and personal advice when asked;
- Actively participates in a network of scholars;
- Facilitates professional opportunities for junior scholars such as providing introductions to others in the field, and encouraging participation in the scholarly community through writing and speaking;
- Mentors those from underrepresented communities in academics and the study of law;
- Actively/willingly participates in the promotion process for others by advising on tenure process, writing review letters, and providing useful guidance on career advancement.
Who May Nominate: Any member of the Section on Business Associations.
Who is Eligible to Be Nominated: Members of the Section on Business Associations and others are eligible for nomination. Nominees should have 10 years or more of law teaching.
Recognition: The Executive Committee will recognize all nominees at the AALS 2018 Annual Meeting and distribute the list to Section members.
In 2015, the Section recognized the following outstanding mentors:
Egon Guttman, Lynne L. Dallas, Claire Moore Dickerson, Christopher Drahozal, William A ("Bill") Klein, Donald C. Langevoort, Juliet Moringiello, Marleen O'Connor, Charles (Chuck) O'Kelley, Terry O'Neill, Alysa Rollack, Roberta Romano & Gordon Smith
Wednesday, August 16, 2017
Business leaders probably didn’t think the honeymoon would be over so fast. A CEO as President, a deregulation czar, billionaires in the cabinet- what could possibly go wrong?
When Ken Frazier, CEO of Merck, resigned from one of the President’s business advisory councils because he didn’t believe that President Trump had responded appropriately to the tragic events in Charlottesville, I really didn’t think it would have much of an impact. I had originally planned to blog about How (Not) To Teach a Class on Startups, and I will next week (unless there is other breaking news). But yesterday, I decided to blog about Frazier, and to connect his actions to a talk I gave to UM law students at orientation last week about how CEOs talk about corporate responsibility but it doesn’t always make a difference. I started drafting this post questioning how many people would actually run to their doctors asking to switch their medications to or from Merck products because of Frazier’s stance on Charlottesville. Then I thought perhaps, Frazier’s stance would have a bigger impact on the millennial employees who will make up almost 50% of the employee base in the next few years. Maybe he would get a standing ovation at the next shareholder meeting. Maybe he would get some recognition other than an angry tweet from the President and lots of news coverage.
By yesterday afternoon, Under Armour’s CEO had also stepped down from the President’s business advisory council. That made my draft post a little more interesting. Would those customers care more or less about the CEO's position? By this morning, still more CEOs chose to leave the council after President Trump’s lengthy and surprising press conference yesterday. By that time, the media and politicians of all stripes had excoriated the President. This afternoon, the President disbanded his two advisory councils after a call organized by the CEO of Blackstone with his peers to discuss whether to proceed. Although Trump “disbanded” the councils, they had already decided to dissolve earlier in the day.
I’m not teaching Business Associations this semester, but this is a teachable moment, and not just for Con Law professors. What are the corporate governance implications? Should the CEOs have stayed on these advisory councils so that they could advise this CEO President on much needed tax, health care, immigration, infrastructure, trade, investment, and other reform or do Trump’s personal and political views make that impossible? Many of the CEOs who originally stayed on the councils believed that they could do more for the country and their shareholders by working with the President. Did the CEOs who originally resigned do the right thing for their conscience but the wrong thing by their shareholders? Did those who stayed send the wrong message to their employees in light of the Google diversity controversy? Did they think about the temperament of their board members or of the shareholder proposals that they had received in the past or that they were expecting when thinking about whether to stay or go?
Many professors avoid politics in business classes, and that’s understandable because there are enough issues with coverage and these are sensitive issues. But if you do plan to address them, please comment below or send an email to firstname.lastname@example.org.
August 16, 2017 in Business Associations, Corporate Governance, Corporate Personality, Corporations, CSR, Current Affairs, Ethics, Law School, Marcia Narine Weldon, Shareholders, Teaching | Permalink | Comments (1)
Friday, August 11, 2017
In this post I will compiled legal studies professor positions (mostly in business schools) and law school positions that indicate a business law preference. I will not be listing adjunct positions. Please feel free to e-mail me with any additions. I will update the list from time to time.
Updated Sept. 21, 2017
Legal Studies Positions (Mostly Business Schools)
- Air Force Academy - Visiting Position
- CUNY Brauch College
- Georgia College & State University - Lecturer
- Georgia College & State University - Tenure-Track
- Illinois State University
- Oklahoma State University
- Palomar College (legal studies w/ real estate focus)
- St. Mary College of California - Visiting Position
- Texas State University
- University of Georgia
- University of Pennsylvania (Wharton)
- Warner University
- Western Illinois University
Law School Positions (Expressed Interest in Business Law)
- American University
- Belmont University
- Brooklyn Law School
- Campbell University
- Duquesne University
- Temple University
- The Ohio State University - Entrepreneurial Business Law Clinic
- University of Alabama
- University of Akron
- University of Arizona
- University of California - Berkeley
- University of Dayton
- University of Idaho - Entrepreneurship Law Clinic
- University of Kentucky
- University of Maryland
- University of Nebraska - Chaired/Tenured (International Finance & Trade)
- University of Richmond
- Yale University - Entrepreneurial Business Law Clinic
Thursday, August 10, 2017
From an e-mail I received this week:
The UNIVERSITY OF NEBRASKA COLLEGE OF LAW invites applications for lateral candidates for a tenured faculty position to hold the Clayton K. Yeutter Chair at the College of Law. This chaired faculty position will be one of four faculty members to form the core of the newly-formed, interdisciplinary Clayton K. Yeutter Institute for International Trade and Finance. The Institute also will include the Duane Acklie Chair at the College of Business, the Michael Yanney Chair at the College of Agriculture and Natural Resources, and the Haggart/Works Professorship for International Trade at the College of Law. The Yeutter Chair, along with the other three professors, will be expected to support the work and objectives and ensure the success of the Yeutter Institute. The Yeutter Chair will teach courses at the College of Law, including International Finance. Other courses may include Corporate Finance and/or other classes related to business and finance. More on the Yeutter Institute can be found at http://news.unl.edu/free-tags/clayton-k-yeutter-institute-of-international-trade-and-finance/.
Minimum Required Qualifications: J.D Degree or Equivalent; Superior Academic Record; Outstanding Record of Scholarship in International Finance and/or other areas related to international business; and Receipt of Tenure at an Accredited Law School. General information about the Law College is available at http://law.unl.edu/. Please fill out the University application, which can be found at https://employment.unl.edu/postings/51633, and upload a CV, a cover letter, and a list of references. The University of Nebraska-Lincoln is committed to a pluralistic campus community through affirmative action, equal opportunity, work-life balance, and dual careers. See http://www.unl.edu/equity/notice-nondiscrimination. Review of applications will begin on September 15, 2017 and continue until the position is filled. If you have questions, please contact Associate Dean Eric Berger or Professor Matt Schaefer at email@example.com.
Tuesday, August 8, 2017
TaxProf Blog has been passing along the news of law schools choosing to allow applicants to substitute the GRE in place of the LSAT. The most recent post: Georgetown Is Fourth Law School To Accept GRE For Admissions, Finds It Is Just As Accurate As LSAT In Predicting 1L Grades; LSAC Disagrees, Says 'The Rest Of The Top 14 Will Go Like Lemmings Off The Cliff'.
As to the substance of the matter, I don't feel too strongly. It is my suspicion that combining grade point average with any standardized test (including GMAT and MCAT, along with GRE and LSAT) would do a reasonably good job of predicting success in law school. Sure, the MCAT would likely be less on target, but probably not that much, especially when we're talking about highly selective schools like Georgetown and Northwestern.
The value of competition in the testing marketplace does seem valuable to me in a few ways.. For one thing, the LSAT is still administered like it is 1989 (as Christine Hurt noted a while back). There would be value in making the LSAT more accessible, and it is is at least plausible that the highly limited access to the LSAT is negatively impacting the number of students choosing to apply to law school. LSAC would be well served to catch up with the other tests (that are now offered with more regular testing dates and sometimes online) to give prospective law students more options.
In addition, I think there is value in letting students have options. I know there are some concerns that students taking the GRE might apply to law school without really thinking it through because it's easy, but I think that risk is limited. For one thing, just taking the LSAT doesn't mean someone thought that hard about law school. It just means that planned ahead. A little. There would be flaky GRE-taking law students, but there'd be highly motivated GRE-taking students who were thinking about a master's degree but would be great law students.
One thing some schools might be missing, though, is that the GRE thing swings both way. That is, if the GRE is acceptable for law school applications, students planning on law school might now choose to take the GRE and end up considering other kinds of graduate programs. Schools looking to expand their pool may be creating competition in places that did not exist before (or was much milder).
Ultimately, I support creating more options for students so that they can make better decisions about their future. As long as the testing option (LSAT, GRE, etc.) serves as a reasonably good predictor of law school and bar passage success (and I think that is still an open question), I am okay with it. I hope schools that chose to accept the GRE are doing so with an expectation that the admitted students will do well, and I hope schools monitor their students so that adjustments can be made if success rates are not as anticipated. That, to me, is the biggest issue: whatever we do, we need to make sure we're delivering on our educational promises, regardless of how we assess our potential students' likelihood of success.
Wednesday, August 2, 2017
Good morning from gorgeous Belize. I hope to see some of you this weekend at SEALS. A couple of weeks ago, I posted about the compliance course I recently taught. I received quite a few emails asking for my syllabus and teaching materials. I am still in the middle of grading but I thought I would provide some general advice for those who are considering teaching a similar course. I taught thinking about the priorities of current employers and the skills our students need.
1) Picking materials is hard- It's actually harder if you have actually worked in compliance, as I have, and still consult, as I do from time to time. I have all of the current compliance textbooks but didn't find any that suited my needs. Shameless plug- I'm co-authoring a compliance textbook to help fill the gap. I wanted my students to have the experience they would have if they were working in-house and had to work with real documents. I found myself either using or getting ideas from many primary source materials from the Society of Corporate Compliance and Ethics, the Institute of Privacy Professionals, DLA Piper, the Federal Sentencing Guidelines for Organizational Defendants, policy statements from various governmental entities in the US (the SEC, DOJ Banamex case, and state regulators), and abroad (UK Serious Frauds Office and Privacy Office). Students also compared CSR reports, looked at NGO materials, read the codes of conducts of the guest speakers who came in, and looked at 10-Ks, the Carbon Disclosure Project, and other climate change documents for their companies. I also had students watch YouTube videos pretending that they went to CLEs and had to write a memo to the General Counsel so that s/he could update the board on the latest developments in healthcare compliance and risk assessments.
2) This should be a 3-credit course for it to be an effective skills course- My grand vision was for guest speakers to come in on Mondays for an hour and then I would lecture for the remaining time or I would lecture for two hours on Monday and then students would have simulations on Wednesday.This never happened. Students became so engaged that the lecturers never finished in an hour. We were always behind. Simulations always ran over.
3) Don't give too much reading- I should have known better. I have now taught at three institutions at various tiers and at each one students have admitted- no, actually bragged- that they don't do the reading. Some have told me that they do the reading for my classes because I grade for class participation, but I could actually see for my compliance course how they could do reasonably well without doing all of the reading, which means that I gave too much. I actually deliberately provided more than they needed in some areas (especially in the data privacy area) because I wanted them to build a library in case they obtained an internship or job after graduation and could use the resources. When I started out in compliance, just knowing where to look was half the battle. My students have 50 state surveys in employment law, privacy and other areas that will at least give them a head start.
4) Grading is hard- Grading a skills course is inherently subjective and requires substantive feedback to be effective. 40% of the grade is based on a class project, which was either a presentation to the board of directors or a training to a group of employees. Students had their choice of topic and audience but had to stay within their industry and had the entire 6-week term to prepare. Should I give more credit to the team who trained the sales force on off-label marketing for pharmaceuticals because the class acting as the sales force (and I) were deliberately disrespectful (as some sales people would be in real life because this type of training would likely limit their commissions)? This made their training harder. Should I be tougher on the group that trained the bored board on AML, since one student presenter was in banking for years? I already know the answers to these rhetorical questions. On individual projects, I provide comments as though I am a general counsel, a board member, or a CEO depending on the assignment. This may mean that the commentary is "why should I care, tell me about the ROI up front." This is not language that law students are used to, but it's language that I have tried to instill throughout the course. I gave them various versions of the speech, "give me less kumbaya, we need to care about the slave labor in the factories, and less consumers care about company reputation, and more statistics and hard numbers to back it up." Some of you may have seen this recent article about United and the "non-boycott, which validates what I have been blogging about for years. If it had come out during the class, I would have made students read it because board members would have read it and real life compliance officers would have had to deal with it head on.
5) Be current but know when to stop- I love compliance and CSR. For the students, it's just a class although I hope they now love it too. I found myself printing out new materials right before class because I thought they should see this latest development. I'm sure that what made me think of myself as cutting edge and of the moment made me come across to them as scattered and disorganized because it wasn't on the syllabus.
6) Use guest speakers whenever possible- Skype them in if you have to. Nothing gives you credibility like having someone else say exactly what you have already said.
If you have any questions, let me know. I will eventually get back to those of you who asked for materials, but hopefully some of these links will help. If you are teaching a course or looking at textbook, send me feedback on them so that I can consider it as I work on my own. Please email me at firstname.lastname@example.org.
Next week, I will blog about how (not) to teach a class on legal issues for start ups, entrepreneurs, and small businesses, which I taught last semester.
Wednesday, July 12, 2017
Prior to joining academia, I served as a compliance officer, deputy GC, and chief privacy officer for a Fortune 500 company. I had to learn everything on the job by attending webinars and conferences and reading client alerts. Back then, I would have paid a law school graduate a competitive salary to work in my compliance group, but I couldn’t find anyone who had any idea about what the field entailed.
The world has changed. Now many schools (including mine) offer relevant coursework for this JD-advantage position. I just finished teaching a summer skills course in compliance and corporate social responsibility, and I’m hoping that I have encouraged at least a few of the students to consider it as a viable career path. Compliance is one of the fastest growing corporate positions in the country, and the number of compliance personnel has doubled in the past 6 years. Still, many business-minded law students don’t consider it in the same vein as they consider jobs with Big Law.
This summer, my twelve students met twice a week for two hours at 7:30 pm. In the compressed six-week course, they did the following:
- Heard from compliance officers and outside counsel for public companies and government entities
- Read the same kinds of primary source material that compliance officers and counsel read in practice (such as the Federal Sentencing Guidelines, the Yates Memo, deferred prosecution agreements, and materials from the EU on the upcoming changes to data protection regulation)
- Compared and contrasted CSR reports from WalMart and Target, and reviewed the standards for the Global Reporting Initiative and the UN Global Compact
- Advocated before a board as a worker safety NGO for a company doing business in Bangladesh
- Served as a board member during a meeting (using actual board profiles)
- Wrote a reflection paper on the ideal role and reporting structure of compliance officers
- Considered top employment law and data protection risks for fictional companies to which they were assigned
- Looked at the 10-Ks and CDP report for climate change disclosures after examining the role of socially responsible investors and shareholder resolutions
- Drafted industry-specific risk assessment questionnaires
- Drafted three code of conduct policies
- Wrote a short memo to the GC on health care compliance and the DOJ Yates memo
- Did a role play during a crisis management simulation acting as either a board member, SEC or DOJ lawyer, the CEO, compliance officer or GC and
- Conducted a 20-minute board presentation or employee compliance training (worth the biggest part of the grade).
Perhaps the most gratifying part of the semester came during tonight’s final presentations. The students could pick any topic relevant to the fictional company that they were assigned. They chose to discuss child labor in the supply chain for a clothing company, off-label marketing in the pharmaceutical industry, anti-money laundering compliance in a large bank, and environmental and employment law issues for a consumer product conglomerate. Even though I was not their BA professor, I was thrilled to hear them talk about the Caremark duty, the duty of care, and the business judgment rule in their presentations. Most important, the students have left with a portfolio of marketable skills and real-world knowledge in a fast growing field.
If you have your own ideas on how to teach compliance and CSR, please leave them below or email me at email@example.com.
Tuesday, July 11, 2017
CSLSA is an organization of law schools dedicated to providing a forum for conversation and collaboration among law school academics. The CSLSA Annual Conference is an opportunity for legal scholars, especially more junior scholars, to present working papers or finished articles on any law-related topic in a relaxed and supportive setting where junior and senior scholars from various disciplines are available to comment. More mature scholars have an opportunity to test new ideas in a less formal setting than is generally available for their work. Scholars from member and nonmember schools are invited to attend.
Please click here to register. The deadline for registration is September 2, 2017.
Hotel rooms are now available for pre-booking. The conference hotel is the Holiday Inn Conference Center in Carbondale. To reserve a room, call 618-549-2600 and ask for the SIU School of Law rate ($109/night) or book online and use block code SOL. SIU School of Law will provide shuttle service to and from the Holiday Inn & Conference Center for conference events. Other hotel options (without shuttle service) are listed on our website. Please note that conference participants are responsible for all of their own travel expenses including hotel accommodations.
For more information about CSLSA and the 2017 Annual Conference please subscribe to our blog.
Tuesday, July 4, 2017
With a Fourth of July post, I was inclined to write something patriotic and connected with our great nation and to law schools generally. As an unabashed and unapologetic fan of the Hamilton: An American Musical, a couple of analogies from this brilliant production seemed appropriate to convey my thoughts on law school and leaving a legacy.
First, I think most of us who are fortunate enough to serve as law professors recognize the great gift we have to pursue our passion and to be part of educating the next generation of people who understand the rule of law and have the skills to protect the rights of individuals and groups. This is especially needed for those who are marginalized or under represented and thus less likely to be able to enforce their rights without the help of our legal system. This is an incredible legacy in America, set in motion by some our nation's founders.
Like John Adams defending British soldiers and Alexander Hamilton defending Loyalists after the war, lawyers (and law professors) do not need to compromise their own views to embrace the ideals they seek to uphold. We can vigorously maintain our personal views, while defending the rights of others to have their views. As law professors, I think we generally do value and defend the rights of others who have differing views, but I also think we can do a better job ensuring that is the case (and that others know it).
To be effective, law professors must be engaged with their work, with their institution, and their students. This means, to me, engaging in scholarship, in some way, and sharing that work with the world. As Alexander Hamilton tells Aaron Burr in The Room Where It Happens:
“When you got skin in the game, you stay in the game. But you don’t get a win unless you play in the game. Oh, you get love for it. You get hate for it. You get nothing if you…Wait for it, wait for it, wait!”
We need to part of the program. We need to engage and share our ideas. This doesn't mean being overtly political, and it doesn't necessarily mean being abrasive. But we must be invested in what we do, and we must be invested in how we do it. The passive teacher and scholar will likely have passive students, and we need to be educating lawyers to get in, get dirty, and keep learning. We can't just tell them. To some degree we have to be the ones to show them how.
Second, as law professors who are committed to their profession, I think we need to be thinking about who we want to be as professors, including our desires for our legacy, early in our careers. We need to think about what we want to be like as tenured professors before were are tenured. And we need to think about where we hope to get as professionals, as teachers, and as scholars. I think a lot faculty members (law and otherwise) get to a point where they aren't sure what it will mean to move on or how, and that makes it hard to stay engaged or focused because you don't have an idea of the end game. And that is linked, in part, to feeling like their legacy is incomplete. That is understandable.
Alexander Hamilton says, in the song, The World Was Wide Enough Legacy:
"What is a legacy? It's planting seeds in a garden you never get to see."
And it's true. We rarely, if ever, will get to see our legacy, but we can know what we are trying to grow. We each create our own legacy by the seeds we choose to plant. And as professors, we plant those seeds in our students. They go out and hopefully grow and flourish. And as part of a profession, those seeds are spread wider than just our students, as those new lawyers go out and interact with and work to protect others. We must think carefully about what we are teaching about the profession that we helping to shape, whether or not we ever see it fully grown. The world evolves and so must we, so that the seeds we plant, our legacy, is one that is worthy of this great, though greatly flawed, nation that got its start 241 years ago.
As we celebrate the Fourth of July, let us celebrate the past while at the same time we think about the future. This goes for both our teaching and for our nation overall. Wishing you a happy and safe Fourth.
Friday, June 23, 2017
Brooks paid each participant $100 for 90 minutes.
The group was well-facilitated, and the group members stayed incredibly engaged. The 90-minutes flew by.
The research Brooks was conducting on both shoe design and marketing was extremely qualitative. It was essentially a brainstorming session. I do think Brooks could have gotten more out of the time if they would have had everyone privately write down their own ideas first, as there were about three or four of the ten of us who dominated the discussion.
While this type of focus group was not cheap---$1000 in payment plus renting the room plus travel for two employees from Seattle---it was surely a very small fraction of their production and marketing budget. And I do think Brooks got some valuable ideas. Brooks does this sort of thing all over the country, and their employees said that they do start to hear patterns in the responses. It is those patterns that Brooks acts on, as they can't possibly address every one-off comment.
This focus group made me think that universities should consider similar focus groups with applicants and with local companies. I know a bit of this happens informally at most places, and perhaps it happens formally at some places, but I do wonder if it is done with the same regularity and intensity as for-profit firms like Brooks. I think the insights would be valuable, and even if the insights are poor, the organizing institution does get to explain itself (and show it really cares) to the focus group participants.