Economic Downturn

News & Analysis as of

North Carolina Supreme Court Allows Termination of TTD Benefits on General Economic Conditions

Employees injured on the job who are terminated by their employer are generally entitled to collect temporary total disability (TTD) benefits under the Workers’ Compensation Act until they are able to locate suitable...more

The International Comparative Legal Guide to Lending & Secured Finance 2014: Chapter 7: Yankee Loans – Structural Considerations...

The depth and liquidity of the investor base in the US institutional term loan market provides an attractive alternative for European borrowers in the leveraged finance market and has been a key source of financing liquidity,...more

Is It Going to Be a Bumpy Ride?

Margo Channing (Bette Davis) in “All About Eve” famously said, “Fasten your seatbelts, it’s going to be a bumpy night!” Does that sum up the status of future community bank merger activity? Maybe so. Many financial...more

Downturn in Chinese Economy May Be Triggering An Export Surge

There is consensus among western economists and policymakers that exports are critical to economic growth. The Chinese government clearly agrees. A souring Chinese domestic economy and improving western economies,...more

Employer Strategies In A Changing Slow-Growth Economy – Dealing With Organized Labor: The Boeing Blueprint

How are U.S. employers approaching the economic "recovery" from the recession and what strategies are being employed by them, particularly in relation to unionized workforces? ...more

The Trust Deficit: After the Crash - DLA Piper’s response to a perspective report by Populus

When we sponsored the publication of the inaugural trust report, The Trust Deficit: Views from the Boardroom, in 2011 we did so as a response to the media and political fallout brought about by the financial crisis that...more

Spain gains ground

Spain’s recent economic struggles may be well known, but those paying attention see signs of recovery starting to emerge. And for those keeping an eye out for new investment opportunities, the country has definite...more

Mortgage Crisis Penalty for the Real Wolves of Wall Street Could Top $50 Billion

The real wolves of Wall Street–sixteen of America’s largest banks–could end up shelling out more than $50 billion to secure settlements from the federal government in connection with their alleged roles in the mortgage...more

Financial system inquiry – draft terms of reference released

The government has commenced its consultation process for the draft terms of reference for its inquiry into the financial system. The inquiry will consider developments in the financial system since the 1997 Financial System...more

Economically Depressed Contaminated Properties Are Prime Candidates for Significant Real Property Tax Relief

While New Jersey is known as the Garden State, it is also regrettably fertile ground for contaminated properties as a result of its long history of industrial development. With over 20,000 contaminated sites, New Jersey is...more

Bennett Jones Fall 2013 Economic Outlook

This Economic Outlook has three sections. The first covers recent dynamics and short-term outlook for the world economy. The second presents a discussion of the context and conduct of US monetary policy in recent years and in...more

Latest decrees from Republic of Cyprus

The Republic of Cyprus issued new decrees pertaining to the relaxation of restrictive measures on 25 October 2013. Legal updates regarding these decrees, from Harneys' Cyprus Banking Group, are below. Cyprus Update:...more

The Fabulous Fab

Many economists consider the 2008 economic meltdown the worst financial crisis in the U.S. since the 1930’s Great Depression. The threat of the total collapse of large financial institutions and key businesses, a devastated...more

Greek Tonnage Tax Imposed On Foreign-Flagged Vessels

Greece has finally imposed a tonnage tax on foreign-flagged vessels operated by shipping companies in Greece. It already had been taxing Greek-flagged ships, and the nation’s debt crisis left the government with no other...more

A Time for Reflection: the Fifth Anniversary of Lehman Brothers’ Collapse

Sunday, September 15, 2013, marked the fifth anniversary of Lehman Brothers’ bankruptcy, the largest in U.S. history. It is widely believed that Lehman’s meltdown set off a domino effect that led to the global financial...more

The financial crisis and a new round of deaccessioning debates

When public institutions are suffering from financial deficits, one question is usually raised: can they sell art to survive? In the museum world it is generally understood that you are to deaccession art only if the work is...more

Press: Clients Buying Less, But Paying More  [Video]

Sept. 12 (Bloomberg Law) -- Aric Press, editor in chief of American Lawyer Media, talks with Bloomberg Law's Lee Pacchia about the latest data on the financial performance of law firms....more

Private Mortgage Insurers Return to Profitability after Housing Crisis

It should be no surprise that the private mortgage insurance industry was nearly decimated in the wake of the housing crisis. During that tumultuous time, the private mortgage insurers that survived lost a combined $20...more

Greece: Government sells its stake in OPAP

On 12 August the Greek government put pen to paper to complete the sale of its 33% controlling stake in the gambling monopoly OPAP for €652 million to Emma Delta, an equity fund led by Czech billionaire Jiri Smejc....more

Washington Insight - August 2013

In This Issue: - Tax Reform: An Insider's View - A Deep Divide Over Corporate Tax Reform - The Current Economic State: An Insider's View - K&S Thought Leadership Event on the 3rd Anniverary of Dodd-Frank -...more

Rogers Towers: Motor City Meltdown: Municipal Bankruptcy in Brief - Chapter 9 Administration in a Nutshell

From March 2012 to March 2013, 76,467 bankruptcy petitions were filed in Florida under Chapters 7, 11 and 13. In contrast, since the Great Depression less than 500 municipalities have filed for Chapter 9 protection....more

Obama Supports Legislation to Replace Fannie Mae, Freddie Mac

President Obama officially threw his support behind a bipartisan push to replace beleaguered housing giants Fannie Mae and Freddie Mac during a speech to an Arizona crowd on Tuesday....more

SIGTARP's Pursuit of TARP-Related Misconduct – No End in Sight

On July 24, 2013, the Office of the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) filed its latest Quarterly Report to Congress (the “July Report”). The July Report summarizes SIGTARP’s recent...more

Motor City Cruises Into Bankruptcy

On July 18, 2013, the City of Detroit, Michigan commenced a bankruptcy case under chapter 9 of the Bankruptcy Code as a result of over $18 billion dollars in accrued obligations and dwindling revenue sources. Since the...more

July Economic Update Reports $463 million more in Revenue

Minnesota Management and Budget’s (MMB) July Economic Update reported that general fund revenues for FY 2013 have increased $463 million since the February Forecast. This revenue increase must be reconciled by MMB with any...more

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