Dodd-Frank strikes again, as the Security and Exchange Commission (SEC) adopted a rule on Wednesday to require most public companies to report the comparison of pay between employees and Chief Executive Officers. The commission voted 3-2, with the two Republican commissioners objecting the mandate to include the comparison in a company’s annual audited financial statement
While it might not affect 11 million customers like Fiat-Chrysler’s 23 separate auto recalls, the consequences for those that own some John Deere tractors could be just as hazardous. The company has announced a recall on nearly 2,100 riding lawn tractors, including 370 in Canada, over a potential brake lever arm malfunction. According to a
Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to
A hyperbolic attempt by Republicans to defund Planned Parenthood was blocked in the Senate on Tuesday after a series of sting videos showed the agency selling aborted fetal tissue to fake medical researchers causing outrage among the social conservative wing of the party. The anti-abortion group, the Center for Medical Progress, released four videos in
Larry Lennox-Choate III and his husband, Daniel Lennox-Choate, were spending some time in a Manhattan bodega recently when an unidentified 40-ish man “screamed anti-gay obscenities” at them and punched Daniel in the face. What happened next is proof positive you should never judge a book by its cover. The married West Point grads surprised their
Judge J. Kevin Chason in Georgia’s Decatur County Superior Court is my new hero! He told Fiat Chrysler to suck it regarding their request for a new trial in the tragic fire death of little Remi Walden. In his opinion, the evidence against Fiat was “overwhelming.” The judge also ordered the Walden $150M award reduced
The Security and Exchange Commission (SEC) is treading on thin legal ground, according to Manhattan District Judge Richard Berman, due to the agency’s use of an in-house judicial system. On Monday, Berman refused to dismiss a lawsuit filed by embattled former Standard and Poor’s (S&P) supervisor, Barbara Duka, who was accused of securities fraud by
August is beginning to look like a continuation of July for embattled automaker Fiat-Chrysler, as the company announced on Saturday that it is recalling 322,000 Dodge Chargers from model years 2011-2014. The recall comes after the company received 25 complaints of unintended side-curtain airbag deployments when the doors had been kicked or slammed forcefully. According
Strict liability generally holds all persons in the chain of distribution for component parts or final products strictly liable to any consumer or ultimate user of the product for any harm caused by their defectively designed or manufactured products. There is an exception to this rule if a product has been substantially changed; for a
The New York Times paid tribute yesterday to a man whose death nearly went unnoticed in a national sense, but whose life needs to be celebrated. Dr. Donald L. Rasmussen died on July 23rd in Beckley, West Virginia at the age of 87. According to his stepdaughter, Julia Holliday, Dr. Rasmussen died from complications following