The Department of Energy (DOE) today is amending its to provide that the Secretary of Energy, or a person acting in that position, shall appoint, as needed, a three member panel to serve as the Patent Compensation Board to hear and decide cases falling under the subject matter jurisdiction of the Board. The Secretary of Energy shall further designate one member as the chairman. This action is made necessary by the abolishment of the Department of Energy Board of Contract Appeals, which had previously served as the Patent Compensation Board.
LATHAM, N.Y., April 16 /PRNewswire/ -- First Cardinal LLC, represented by law firms Phillips Lytle LLP and Patterson Belknap Webb & Tyler LLP, announced today that 13 workers' compensation self- insured groups for whom it had once acted as third-party administrator received a favorable decision by the New York State Supreme Court in a complex two-year litigation case against the New York State Workers' Compensation Board. The case pertained to a series of assessment billings levied against the self-insured groups by the New York State Workers' Compensation Board to help pay for the losses of several unrelated self-insured groups that had defaulted on their workers' compensation obligations - effectively initiating group-to-group liability. None of the defaulting self-insured groups that...
New York State is attempting to change the location of the Buffalo office of the Workers' Compensation Board, which will affect claimants negatively and will spend taxpayer money unnecessarily. The Buffalo office handles about 25,000 hearings a year, about 480 hearings per week. The new location is less convenient to disabled claimants, logistically and financially; it poses public safety issues, and it will cost about $700,000. As of May 10 the Office of General Services approved and signed a 10-year contract to move to Ellicott Square. However, the contract still needs to be approved and signed by the attorney general and comptroller, so there is still a small window of opportunity to stop this from happening.
Last year, America's Community Bankers (ACB) released its annual Compensation & Benefits Survey. As in the previous years, ACB surveyed its members and nonmembers nationwide to determine the trends affecting financial institutions in the critical area of employee compensation. As in the past, this year's survey analyzed the responses of community banks regarding their . Regarding fees, bank participants were split nearly even, with 49% saying directors' fees were strictly based upon attendance at meetings, and a few more saying it was not based upon attendance at all. When it comes to the times committees meet, results varied based upon type of committee. Looking further at board compensation, the survey found that a great majority of commun...
Convertible debt is a well-recognized mechanism for reducing the agency costs of debt. This study examines whether firms that attempt to control agency costs of equity through strong governance structures, including chief executive officer compensation alignment and board independence, are more likely to use an agency cost-reducing debt structure such as convertible debt. We find modest evidence of a complementary relationship between strong governance structures and use of convertible debt among a sample of relatively larger firms.
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