Law:

5th Circuit: Firm Can't Charge Full Hourly Rate for Travel Time
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Traveling But Not Working? Can't Charge Full Hourly Rate, Court Says
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Culture Wars Take Their Toll on Heller Ehrman
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What's Up at Sidley Austin - LA? (Not morale, apparently)
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$3m PEP and rising
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Origination Fees
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Associates in the U.K. Foresee a Less Lucrative Future
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200-Year-Old Firm Dwindles & Dies
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$650,000 in Sanctions Imposed in Bankruptcy Case
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In Pari Delicto
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Goodwin Procter's Grand Plan
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Smaller Summer Class for Cadwalader
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When Law Prevents Righting a Wrong
(NYT: separate free registration required)

The Market Is Not Responsible For Your Results
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Sullivan & Cromwell Ranks High in Adoption Policies
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Ralph Baxter: Before and After
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Inside Orrick's West Virginia Operation
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Merger-Hungry BigLaw Firm in Rush, Rush to Sweet Charlotte
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From BigLaw to the Big House: What Can Recently Convicted Firm Leaders Expect in Lock-Up?
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Kickbacks to Plaintiffs: Industry Problem?
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House Leader Seeks Probe of Plaintiffs Firms' Class Action Kickbacks
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Firm Leader Plunks Down $6.4 Million for Fourth Home
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Bates Stamps' Days May Be Numbered
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Shearman Eliminates General Counsel Post
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King & Spalding Opens Austin Office
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In Pellicano Case, Lessons in Wiretapping Skills
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False Claims Act: A Legal Goldrush for the Tort Bar?
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Renegade Texas Supreme Court?
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Lying to get into someone's pants
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Lawyer of the Day: Monica Conyers
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Judges:

Schmidt's savvy sword
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Judge Files $10 Million Defamation Suit Against Attorney, Newspaper
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Judge apologizes for pursuing claim against Calif. billionaire
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Trustees:

O.C. treasurer can't afford his legal defense, court motion says
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Aviation:

Airline mergers: Idea that shouldn't fly
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UAL Looks Closer at US Airways
(WSJ: separate paid subscription required)

Bumpy ride ahead for United
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US Airways: How good a fit?
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US Airways pilots group sees benefits in merger
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Continental looking for friends
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AA, BA, Continental alliance 'would be like a merger without the headaches'
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Asia is prize for Delta-NWA merger
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Delta gives 3 percent raises to nonunion employees
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NWA's ex-chairman adds to perks
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Bankruptcy court lets Frontier sell four aircraft
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Passengers left holding bag
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Airlines slow down in the skies to save millions
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Major Airline Woes Are Impacting Regional Carriers
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Inouye's aid to Aloha set an example
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Trustee asks judge to reject Aloha's union contracts
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Aloha cargo service back in full swing
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Former Aloha Pilots Could Lose Out in Cargo Buyout
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Fuel costs limit prospect of new, cheap air carriers
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BWA needs a quick fix
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Autos:

Ford to offer buyouts at plants
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Ford's CAW Workers Ratify New 3-Year Contract
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Ford, GM defy assumptions
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Axle strike mirrors pain of 1970 walkout at GM
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From investment standpoint, how do GM, Ford match up?
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Credit crunch slows Ford
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Repos Rise Amid Troubled Economy
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Economy:

Fed Moves to Loosen Tight Credit
(NYT: separate free registration required)

Job Losses Slow Down Dramatically
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This recession: fewer job cuts?
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Buffett backs Fed over Bear Stearns
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Looking ahead: The Week's Major Economic Reports
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World According to Robert Shiller - Economist says the housing slump could be worse than that of the Depression.
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Bigwigs' predictions have analysts scratching their heads
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Greenspan: US in 'pale' recession
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World economic system holding its breath
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History Suggests Long Economic Pain
(WSJ: separate paid subscription required)

The Case for a Newer Deal
(NYT: separate free registration required)

USA Fading?
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JP Morgan expects Bear Stearns takeover to close before June 30
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Buffett says bought $4 bln of auction-rate debt
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The government may need a risk management group
(NYT: separate free registration required)

Oil Rises as Attacks in Nigeria Raise Supply Concerns, Iran
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Why a gas tax 'holiday' is a bad economic idea
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Consumer Confidence Continues To Decline
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The Rebates Might Not Go to the Mall
(NYT: separate free registration required)

Survey: Stimulus checks going for necessities
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Rebate checks are a flimsy Band-Aid
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Current crisis worse than Enron: Berkshire's Munger
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Retailing:

Linens 'n Things Unit Files for Bankruptcy
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Retail skid unravels Linens 'n Things
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Linens 'n Things taken to the cleaners
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Linens chain to fold 120 stores
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By the Numbers: Linens 'n Things' Bankruptcy Filing
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Linens 'N Things Gets Bankruptcy-Loan Approval From Judge
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Linens 'N Things Taps GE For DIP
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Fitch downgrades Linens 'n Things after bankruptcy filing
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Kimco Execs Hopeful About Linens Status
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CIT cuts credit to Mervyns
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Bonds:

Buffett Says Bond Insurers Don't Deserve AAA Rating
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Bond insurance pays off for Berkshire
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Tech:

Nvidia wins federal lawsuit on bankruptcy of competitor 3dfx
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Pensions:

Empty Nest Egg
(NYT: separate free registration required)

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Elder Debt:

Over 50 and over their debt limit
(DBN Subscription Required)

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Fishing:

Federal agency declares West Coast salmon fishery a disaster
(DBN Subscription Required)

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Real Estate:

Housing weakness isn't over yet, Buffett says
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Buffett Buys Subprime Mortgages, Freezes Resets
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Government Intensifies Mortgage Investigation
(NYT: separate free registration required)

Cornering the state's market for foreclosures
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New laws too late in loss of home
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Court approves sale of Met affiliate: Deal worth $55 million
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Countrywide Rating Is Cut to 'Junk'
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Bank of America May Not Guarantee Countrywide's Debt
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Could Countrywide creditors get stiffed?
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Is B of A getting cold feet on Countrywide?
(NYT: separate free registration required)

Hovnanian Says Deteriorating Market to Hurt Results
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ResCap to Start Exchange Offer on $14 Billion of Debt
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S&P cuts ResCap deeper into junk on debt re-jig
(DBN Subscription Required)

Fitch Cuts GMAC Ratings
(WSJ: separate paid subscription required)

HomeBanc dangles $5M payout
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State should license mortgage loan originators
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The face of foreclosure
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A homeowner battles back
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Iowa professor to testify to Congress about foreclosures
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Family to tell senators about abuses by lender
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Foreclosure crisis hits hard in black communities
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Flood of foreclosures creates new breed of accidental renters
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Income Loss Biggest Culprit for Central Texas Home Foreclosures
(DBN Subscription Required)

Borrowers' euphoria clouded subprime risks
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Scam artists move in as foreclosure crisis builds
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Housing counselors feeling squeezed
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Credit restrictions spread to new areas
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Banking:

Buffett sees no bank panic, but expects more losses
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Fed Pushes for Credit Card, Overdraft Fee Reforms
(DBN Subscription Required)

Are Californian Banks Really That Bad?
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UBS May Cut 8,000 Jobs
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Democratic lawmaker expects tougher bank rules
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Can your company survive a cash crash or a bank bust?
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Wall Street:

Wall Street looks for evidence to justify a rally
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Wall Street seen lower after Microsoft drops Yahoo bid
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German Stocks Including Deutsche Telekom Fall
(DBN Subscription Required)

'Suckers' Rally Signaled After S&P 500 April Surge
(DBN Subscription Required)

Berkshire net off 64 percent on derivatives, insurance
(DBN Subscription Required)

Buffett Says Credit Crisis Ebbs for Wall Street Firms
(DBN Subscription Required)

Amex may fire 75 pct of staff after NYSE deal
(DBN Subscription Required)

JPMorgan says no near end to financial crisis
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Bear Stearns second brush with bankruptcy
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JPMorgan Enlists 30 Bear Stearns Managing Directors
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Insider Compensation:

United Airlines: You're paying big fares, the company's brass is getting $130 million incentive payouts
(DBN Subscription Required)

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Credit Cards:

US Seeks New Curbs on Credit-Card Practices
(NYT: separate free registration required)

Proposed changes just scratch the surface
(DBN Subscription Required)

American Bankruptcy Institute/University of Illinois College of Law's Interdisciplinary Academic Symposium on Debt
(DBN Subscription Required)

Should We Not Disclose Credit Card Information?
(DBN Subscription Required)

US aims to rein in 'unfair' credit cards
(DBN Subscription Required)

Prime Card Charge-Offs to Hit 7%, Subprime, 13%
(DBN Subscription Required)

Proposed Fed/OTS/NCUA Credit Card Regulations
(DBN Subscription Required)

Critics call proposals ill-timed
(DBN Subscription Required)

Tricky credit cards rightly get regulators' scrutiny for deception
(DBN Subscription Required)

Congress preps for credit crackdown
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A second chance for subprime borrowers
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Derivatives:

Buffett doesn't see CDS market collapsing
(DBN Subscription Required)

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Distressed Investing:

Buffett Hints at Targets for His Global Buying Spree (Update1)
(DBN Subscription Required)

Buffett to Fans: Opportunity Exists But Berkshire May Not Be Best Bet
(WSJ: separate paid subscription required)

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Bankruptcy Statistics:

Consumer bankruptcies up 47.7% from April 2007
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Georgia still No. 2 in rate of personal bankruptcies
(DBN Subscription Required)

Lower Hudson Valley-area bankruptcy filings back on the rise
(DBN Subscription Required)

Bankruptcy conferences: Comfortable seat, uncomfortable circumstances
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Bankruptcy Filings Are Up Due To Tough Economic Times
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Ventura County bankruptcies soar
(DBN Subscription Required)

Hawaii bankruptcy filings up 25% in January-April
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One in 56 Tennessee Households Filed for Bankruptcy
(DBN Subscription Required)

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Toys:

Lionel steams out of bankruptcy, eyes new markets
(DBN Subscription Required)

______________

Trucking:

High Fuel Costs Threaten Bankruptcy for Truckers
(DBN Subscription Required)

IdleAire stays alive with loan
(DBN Subscription Required)

Pass-through bill introduced in US House
(DBN Subscription Required)

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Forest Products:

PALCO bankruptcy hearings rest with two-week break
(DBN Subscription Required)

All-cash $530 million bid for Pacific Lumber likely to get OK
(DBN Subscription Required)

Lines of conflict drawn in Palco case
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Health Care:

Even the Insured Feel Strain of Health Costs
(NYT: separate free registration required)

Seeking a cure for medical debt
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Hospital hires new CEO
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Hospital's chief is someone to rely on
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Revving up the Big Three's retiree VEBA
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Pay Gap Hits Medical Specialties
(WSJ: separate paid subscription required)

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Printing:

Quebecor World faces more cutbacks
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Food/Drink:

Iron City rescue plan deadlines evaporating
(DBN Subscription Required)

2 firms bid for Maurice Lenell Cooky Co.
(DBN Subscription Required)

NSC store sold for $29.5M
(DBN Subscription Required)

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Rating Agencies:

Rating agency reform coming, says Senate Banking Committee's Menendez
(DBN Subscription Required)

Downgrades Show Storm Isn't Over
(WSJ: separate paid subscription required)

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Accounting:

The Beginning of the End of GAAP
(DBN Subscription Required)

Amid '07 pain, CFO pay up 7%
(DBN Subscription Required)

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Corporate Governance:

Boards' pay grows with workload, regs
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______________

Utilities:

Turnaround specialist revived Westmoreland
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Utilities harder to pay
(DBN Subscription Required)

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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN Subscription Required)

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11)
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Sell your bankruptcy claim to the highest bidder www.T-REXauctions.com Distressed Debt Auctions

Sales:

An Epilogue to Chapter 11
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Newspapers:

Is Star Tribune on 'brink of bankruptcy'?
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Star Tribune's owner hires restructuring adviser to look at finances
(DBN Subscription Required)

Strib Publisher Chris Harte responds to NY Post bankruptcy allegation
(DBN Subscription Required)

Strib Bankruptcy Article Fallout: Who is the Blackstone Group?
(DBN Subscription Required)

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Finance:

A Lender Gets Caught in the Currents
(NYT: separate free registration required)

The debt pipeline
(DBN Subscription Required)

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Municipalities:

City manager says Vallejo should file for bankruptcy
(DBN Subscription Required)

Vallejo, California, Manager Recommends Bankruptcy; Vote Set
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Commissioner says Jefferson County can survive if creditors reject sewer payment proposal
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SEC suit likely to fan partisan flames in Birmingham
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Md. Comptroller: foreclosures will hit local budgets hard
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Telecoms:

Verso wins interim DIP approval
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______________

Insurance:

D&O: AIG exec released from Mexican jail
(DBN Subscription Required)

______________

Politics:

For Democrats, Instincts Differ on Economics
(NYT: separate free registration required)

The All-White Elephant in the Room
(NYT: separate free registration required)

______________

Software:

Novell-SCO trial now is in hands of judge
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SCO's McBride Testifies "Linux Is a copy of UNIX"
(DBN Subscription Required)

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Jewelry:

Diamond deal stalls
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______________

Bankruptcy Crimes:

Contractor Gets 15 Years For Bankruptcy Fraud
(DBN Subscription Required)

______________

Auctions:

Auctioneers saw signs of trouble coming
(DBN Subscription Required)

A Skeptical Eye on Auction Surcharges
(NYT: separate free registration required)

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Mining:

Asarco requests approval on $13.5 million cleanup
(DBN Subscription Required)

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Construction:

Arch/Shapes has new reorg plan
(DBN Subscription Required)

______________

M&A:

Blank-check vehicles are coming up blank
(DBN Subscription Required)

______________

Fraud:

Anatomy of a Financial Fraud
(DBN Subscription Required)

______________

Corporate Reform:

Backdating action ebbing for enforcers
(DBN Subscription Required)

Federal prosecutors are stepping up their scrutiny of players in the subprime-mortgage crisis, with a focus on Wall Street firms and mortgage lenders
(WSJ: separate paid subscription required)

New Brocade suit targets
(DBN Subscription Required)

______________

RVs:

Alfa Leisure formally announces its closing, blames supplier
(DBN Subscription Required)

______________

Financial Literacy:

Students get a taste of money and real life
(DBN Subscription Required)

Money lessons high-school kids need
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Financial education offered
(DBN Subscription Required)

______________

Apparel:

Main's Ch. 15 motion tabled
(DBN Subscription Required)

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Personal Finance:

Rich? Many millionaires say they don't feel that way
(DBN Subscription Required)

Tough times force tough choices
(DBN Subscription Required)

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Property Of The Estate:

Chapter 7 Trustee Could Neither Assign Tort Claim Nor "Conditionally Abandon" Valuable Cause Of Action
(DBN Subscription Required)

EOUST says the economic stimulus rebate is property of the bankruptcy estate
(DBN Subscription Required)

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Predatory Lending:

Arkansas AG files suit against payday lenders
(DBN Subscription Required)

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Hedge Funds:

Citigroup's CEO has hedge fund trouble
(DBN Subscription Required)

______________

UK:

Call for stricter bankruptcy laws in US
(DBN Subscription Required)

Kerry Katona Given Ten Weeks To Fight Bankruptcy
(DBN Subscription Required)

Buffett's Berkshire to look at RBS insurance unit
(DBN Subscription Required)

Credit squeeze pushes more firms into bankruptcy
(DBN Subscription Required)

Debtors borrowing to be written off
(DBN Subscription Required)

UK Personal Insolvencies Rose in First Quarter
(DBN Subscription Required)

One family to be made bankrupt every four minutes
(DBN Subscription Required)

'Old-fashioned canniness' behind drop in national insolvency levels
(DBN Subscription Required)

Insolvency statistics reveal no surprises
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Credit crunch fails to produce the feared economic catastrophe
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Football League reviews insolvency policy after Wilberforce defeat
(DBN Subscription Required)

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EU:

Focus on Europe rates as economy slows
(DBN Subscription Required)

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Germany:

Buffett eyes family-owned German businesses
(DBN Subscription Required)

German D&O insurers brace for Siemens claim
(DBN Subscription Required)

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Asia:

Asia fears lost decade, unrest from food price shock
(DBN Subscription Required)

______________

Australia:

Squeeze dishes up bankruptcy
(DBN Subscription Required)

Drought drives more Aussie farmers off land
(DBN Subscription Required)

______________

Italy:

Citigroup and Parmalat meet in court to fight damages case
(DBN Subscription Required)

Parmalat adversary turns rooter as dairy company sues Citi
(DBN Subscription Required)

Parmalat Investor Recovery Hits $90 Million
(DBN Subscription Required)

Parmalat Clears The Decks
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______________

Canada:

Failed deal spurs Harmac job fears
(DBN Subscription Required)

Livent saga finally goes to trial
(DBN Subscription Required)

Timeline: Livent, from Broadway to courthouse
(DBN Subscription Required)

Pulp deal cancellation jolts industry
(DBN Subscription Required)

Only fraudster knows if there are hidden millions from Canada's largest Ponzi scheme
(DBN Subscription Required)

Unfortunately, tomorrow's big consumers are, well, broke
(DBN Subscription Required)

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