ContractsProf Blog

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Valparaiso Univ. Law School

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Tuesday, August 23, 2005

News in Brief

MultiCultural Radio, one of the nation’s largest minority-owned broadcasters, is now suing to collect the $255,000 contract judgment it won last year, along with other damages from the Air America talk radio network.

Meanwhile, Air America is engaged in “continuous discussions” about repaying the $875,000 in start up loans it got during the 2004 campaign from a publicly funded New York Boys & Girls Club that’s now under investigation by Attorney General Elliot Spitzer.

A 60-40 joint venture between General Electric and Rolls Royce has won the $2.47 billion engine contract for the next generation of U.S. stealth fighters.

Many home heating oil dealers in the Northeast have stopped offering advance contracts for winter fuel oil -- a common hedge against the usual winter spikes --  because current summer prices are higher than normal winter prices.

The Cincinnati (Ohio) school district has approved a contract with a commercial developer to sell 16 of its schools on commission.

The mechanics are out on strike, and flight attendants may follow for Northwest Airlines.

The Illinois Supreme Court’s reversal of a $1.06 billion judgment against State Farm Insurance also has after-market auto parts manufacturers beaming; the court ruled that using after-market parts was not a breach of the insurance company’s duties to its customers.

[Frank Snyder]

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