Recent Updates
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Opponents of GM sale face noon deadline
Business Law 07/10/2009Opponents of General Motors Corp.'s plan to sell the bulk of itself to a new government-controlled company face a noon deadline to file appeals and find a way to get the sale halted.But with their options dwindling and time running out, it's increasi...
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High court puts Chrysler sale on hold
Business Law 06/09/2009The Supreme Court threw a wrench into the plans to have a quick bankruptcy process at Chrysler LLC, delaying the company's combination with Italian automaker Fiat. The bankruptcy judge overseeing the Chrysler case had given approval for the company's...
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Supreme Court asked to delay Chrysler sale
Business Law 06/08/2009Indiana pension funds and consumer groups asked the U.S. Supreme Court on Sunday to stop the sale of bankrupt automaker Chrysler LLC to a group led by Italian carmaker Fiat SpA while they challenge the deal. The separate requests, which moved the leg...
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Banks earned $7.6B in 1Q after record loss in 4Q
Business Law 05/27/2009The nation's banks turned a profit in the first quarter, but the number of problem banks jumped to more than 300, the government said Wednesday.The Federal Deposit Insurance Corp. said higher trading revenues at big banks helped the industry earn a $...
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US court to review accounting oversight board case
Business Law 05/19/2009The Supreme Court said on Monday it would decide a constitutional challenge to the 2002 law that created a national board to oversee U.S. public company auditors.The justices agreed to review a ruling by a U.S. appeals court that upheld the Sarbanes-...
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Credit Suisse CEO facing his own late fee
Business Law 05/15/2009Even the chief executive of banking giant Credit Suisse Group is complaining about late fees these days. As Congress and the president talk about ending so-called abuses in the credit card industry like sudden rate hikes and late fees, Brady Dougan i...
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GM, Chrysler Dealer Groups Retain Law Firms
Business Law 05/01/2009National groups representing thousands of General Motors Corp. (GM) and Chrysler LLC auto dealers have hired law firms to protect them against potential bankruptcy filings by the auto makers. Lawyers also will advocate for GM franchise owners, who ar...
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Court Revives Rendition Lawsuit Against Boeing Unit
Business Law 04/30/2009A federal appeals court Tuesday revived a lawsuit alleging that a unit of Boeing Co. (BA) helped the Central Intelligence Agency seize terrorism suspects abroad and secretly transfer them to other countries for interrogation. The ruling reinstates al...
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Fed court revives rendition lawsuit against Boeing
Business Law 04/29/2009A federal appeals court on Tuesday ruled that a Boeing Co. subsidiary can be sued for allegedly flying terrorism suspects to secret prisons around the world to be tortured as part of the CIA's "extraordinary rendition" program. A unanimous three-judg...
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Judge upholds $100M Mattel verdict over Bratz
Business Law 04/28/2009A federal judge upheld a $100 million jury verdict Monday for Mattel Inc. in a lengthy legal battle over rights to the Bratz doll, a rival to Mattel's Barbie. U.S. District Judge Stephen Larson also confirmed in his ruling late Monday that the Bratz ...
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Industrial production drops more than expected
Business Law 04/15/2009Industrial production fell for the fifth straight month in March, the government said Wednesday, as companies cut output in order to clear stockpiles of goods. But economists expect that trend to moderate soon, as businesses bring inventories in line...
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Ex-Qwest exec asks high court to delay prison term
Business Law 04/14/2009Former Qwest CEO Joseph Nacchio asked the Supreme Court on Monday to put off the start of his prison term for his conviction on insider-trading charges. His lawyers filed an emergency appeal with Justice Stephen Breyer after the federal appeals court...