On August 11, 2015 and in midst of a weakening economy, China loosened the yuan’s peg to the US dollar allowing a 3% devaluation through a three-day period.1 Although a single digits fluctuation may seem normal for other currencies, this move by the People’s Bank of China is the biggest drop of yuan since 1994.2…
Category: Blog Articles
NOLA’s Economic Recovery After Ten Years
On August 29, 2005, Hurricane Katrina pummeled the Gulf Coast in what became a devastatingly historic event that affected hundreds of thousands of lives in Louisiana, Mississippi, and Alabama.1 Katrina left catastrophic damage in New Orleans, Louisiana (NOLA) and caused over $100 billion in damage.2 Approximately 30% of NOLA’s residents lived in poverty at the…
Are Fantasy Sports Really “Games of Skill”? Part One
Participation in and betting on fantasy sports has exploded over the past few years. Fantasy sports are defined as any sports competition with imaginary teams where the “participants own, manage, and coach” their teams, with the games “based on statistics generated by actual players or teams of a professional sport.”1 Websites such as Yahoo and…
A General Motors-Fiat Chrysler Merger?
Fiat Chrysler Automobiles (FCA) Chief Executive Officer (CEO) Sergio Marchionne has made headlines in recent months, calling for his company to merge with fellow Big Three auto manufacturer, General Motors (GM).1 Marchionne believes automobile manufacturers need to consolidate to avoid waste by developing multiple versions of the same technology to meet environmental regulations.2 Although Marchionne…
Marketplace Lenders Self-Regulate with Small Business Borrower’s Bill of Rights
Last month a collective of lenders, brokers, think tanks, and advocates announced the Small Business Borrower’s Bill of Rights, an effort to self-regulate the market for alternative small business lending. Despite the positive reception of the Bill, its creation has prompted many questions about why such self-regulation is necessary for players in the financial sector….
“Deflategate”: The End of NFL Arbitration?
In January, the New England Patriots’ (the “Patriots”) easy victory over the Indianapolis Colts in the AFC Championship was muddled by reports that eleven of the twelve footballs used by the Patriots were underinflated.1 This controversy quickly gained fame as “Deflategate” and the NFL, following an investigation; (1) suspended quarterback Tom Brady for four games;…
In SEC’s Whistleblower Program, Will Confidentiality Prove Counterproductive?
Early last month, in a heavily censored report, the U.S. Securities and Exchange Commission (SEC) publicly announced an award of roughly half a million dollars to [redacted], who reported original information about [redacted] that occurred at [redacted] over the course of [redacted].1 Needless to say, the entire case remains shrouded in mystery. Moreover, this announcement came just months…
WARNING: The Federal Exchange Act May Limit the Utility of State Crowdfunding Exemptions
Posted by Jeff Thomas and Malika Simmons Historically, federal and state securities laws have made equity crowdfunding extremely difficult in the United States.1 However, equity crowdfunding laws that create new exemptions from costly registration requirements have recently been passed in several states including Michigan, Kansas, Indiana, and Wisconsin.2 Several other states have similar legislation pending.3…
Chapter 11 Attorney’s Fees
The compensation of a debtor’s attorneys in Chapter 11 bankruptcy is a balancing act. There are two issues to consider. First, for every dollar paid to an attorney, the size of the debtor’s estate decreases, meaning unsecured creditors recover less of their claims. Second, if attorneys do not represent the estate because they are not…
Blurry Lines
There is nothing blurry about a $7.4 million jury award. On March 11, a jury in Los Angeles ruled that Robin Thicke, Pharrell William, and Clifford Harris Jr.’s (also known as T.I.) 2013 summer hit, “Blurred Lines”1 infringed on the copyright for Marvin Gaye’s 1977 “Got to Give It Up.”2 The jury ordered “Blurred Thicke, Williams and Harris…