Peabody Energy Corp, the world’s biggest private-sector coal producer, filed for Chapter 11 bankruptcy in St. Louis last week. Although American coal companies have struggled recently, with Alpha Natural Resources and Arch Coal also filing for bankruptcy, Peabody is the largest coal company to file for bankruptcy to date.
New Treasury Rules End Pfizer-Allergan Merger Plans
On April 6, 2016, U.S. pharmaceutical firm Pfizer abandoned its $160 billion planned merger with its Irish counterpart Allergan. The two companies called off what would have been the largest merger in the pharmaceutical sector after the U.S. Treasury announced new rules restricting tax-avoiding “inversions.” An inversion is a corporate strategy to lower a company’s […]
Another Day, Another Airline Merger: Alaska Airlines Buys Virgin America
Over the last fifteen years, an era of mergers has left the airline industry in the hands of a few giants. Since 2005, nine of the USA’s biggest airlines have been reduced to just four, with Delta, Southwest, American, and United controlling 80% of the U.S. market. Following in the footsteps of American Airlines’ merger […]
Does Climate Change Affect Profitability? S.E.C. Orders Shareholder Vote on Disclosure
The S.E.C. recently ordered oil behemoth Exxon Mobil to include a resolution on its annual shareholder proxy statement that, if approved by shareholders, would require the company to disclose how its future profitability might be affected by climate change and related legislation. This marked a defeat for Exxon, the world’s largest oil producer, which fought […]
FIFA: Cultivator of A Corruption Culture or Hapless Victims?
FIFA, the international governing body of world soccer, has asked the United States for a return of money seized due to its implication in corruption scandals. The money it seeks totals over $40 million in salaries, benefits, and misappropriated funds that were used as bribes and for other illegal activities. FIFA claims that they are […]
Goldman Sachs Reaches $5 Billion Settlement with U.S. Department of Justice
The United States Department of Justice announced on Monday, April 11, that it had reached a settlement with Goldman Sachs Group, Inc. (“Goldman Sachs”) that would require the global investment banking firm to pay more than five billion dollars in penalties for its role in the housing bubble that many see as having precipitated the […]
Tesla’s Battle for Direct Sales May Look to a 2013 Circuit Court Decision For Guidance
Telsa is an electric automotive company founded in 2003 that aimed to change the car industry. Telsa has a unique market strategy to achieve this goal. Differing from the usual car manufacturing company, Tesla focuses solely on electronic car technologies. Another part of Tesla’s innovative strategy to disrupt the incumbent market leaders is direct sales. […]
Recap: “The Scott Carey Speaker Series — The Global Chairman”
On March 30, 2015 the California Law Review, Berkeley Center for Law & Technology, and Berkeley Business Law Journal welcomed Mitchell Zuklie ‘96, the global Chairman and Chief Executive Officer of Orrick, Herrington & Sutcliffe LLP (Orrick) for a Q&A discussion about his career as one of the country’s leading technology attorneys and his current […]
FBI Bypasses Apple to Unlock San Bernadino Shooter’s iPhone
The ongoing technology war involving the conflict between privacy and security has taken a new twist as the FBI hacked into San Bernadino terrorist Syed Farook’s iPhone. Instead of continuing to pursue a lawsuit to force Apple to reveal its encryption secrets, the FBI used an unknown third party to unlock the phone. Apple and […]
Continuing Casualties of the Housing Market Crash
The housing crisis was a nationwide banking emergency that coincided with the US’s recession in December 2007. The housing bubble burst, which resulted in a steep decline in home prices; this drastic dip led to an insurmountable number of mortgage delinquencies and eventual foreclosures throughout the late 2000s. But despite nearly a decade having passed, […]