Will Tinkerbell hand Howard Stern a poison pill?

The LA Times reports today that Disney has hired longtime mergers and acquisitions specialist, Martin Lipton, to advise the Disney Board regarding Comcast‘s recent bid. Mr. Lipton is credited in legal circles as being one of the lawyers who devised the poison pill strategy, which Professor Bainbridge explained recently here. However, my sense is that Disney will not be adopting a poison pill strategy in defending against the Comcast bid. The Board has already been heavily criticized for its unwavering support of CEO Michael Eisner despite Disney’s lagging stock price. A poison pill strategy would be widely viewed as the Board again supporting a strategy mainly benefitting Mr. Eisner and an unproductive management team at the expense of Disney’s shareholders. However, Mr. Lipton is a heavyweight in defending these matters, so Disney is clearly signaling to Comcast its willingness to rumble by retaining him.

Biggest email blunders of 2003

Sound email policies are important for any business. If you don’t believe it (or even if you do), then you need to read this.

Explosive allegations about alleged infiltration of the FBI

Paul Sperry of the Frontpage Magazine reports that a former FBI linguist has made potentially explosive allegations to the 9/11 Commission regarding the subversive actions of a key FBI Middle Eastern agent. Read the entire article, but here is tidbit:

When linguist Sibel Dinez Edmonds showed up for her first day of work at the FBI, a week after the 9-11 attacks, she expected to find a somber atmosphere. Instead, she was offered cookies filled with dates from party bowls set out in the room where other Middle Eastern linguists with top-secret security clearance translate terror-related communications.
She knew the dessert is customarily served in the Middle East at weddings, births and other celebrations, and asked what the happy occasion was. To her shock, she was told the Arab linguists were celebrating the terrorist attacks on America, as if they were some joyous event. Right in front of her supervisor, one translator cheered:
“It’s about time they got a taste of what they’ve been giving the Middle East.”
She found out later that it was her supervisor’s wife who helped organize the office party there at the bureau’s Washington field office, just four blocks from the J. Edgar Hoover Building.

The credibility of these allegations coming from a former (and presumably disgruntled) employee is still untested. However, given the U.S. intelligence failures documented in Gerald Posner‘s “Why America Slept,” Laurie Mylroie‘s “The War Against America” and “Bush vs. the Beltway,” and Robert Baer‘s “See No Evil,” these allegations need to be investigated carefully.
Meanwhile, in Policy Review, Richard L. Russell, professor of national security affairs at the National Defense University?s Near East-South Asia Center for Strategic Studies, provides an insightful analysis of the intrinsic problems in the U.S. intelligence apparatus and proposals for remedying them.

More on the indictment of Bonds’ personal trainer

The NY Times has a good follow up article on the indictment of baseball star Barry Bonds’ personal trainer and three others for illegal distribution of steroids. The indictment and other information on this story can be reviewed here.

Army Intelligence agents investigate UT Islamic women’s conference

The Austin American-Statesman (registration required) reports that University of Texas law students, lawyers and civil rights advocates are contending that Army Intelligence questioning of people on the UT campus in Austin was an unjustified attempt to dampen free speech on the campus. The agents visited the UT Law School this past Monday to request a list of participants in a Feb. 4 conference at the UT Law School on women’s issues in Muslim countries. When informed that the conference was open to all citizens and that no such list existed, the agents interviewed students and asked for the contact information of the female who organized the conference.
Although the investigation of this conference is perhaps a bit over the top, the self-righteous reaction of some UT students and faculty members is even more so. The United States is at war, and reasonable intrusions on U.S. citizens’ civil liberties during war time are legal. Denouncing intelligence agents publicly simply because they are doing their job reflects a widespread attitude in current American society that it is unnecessary to sacrifice for the war effort. I am quite glad that the parents and grandparents of these UT students and faculty members did not have the same attitude during WWII.

Interesting Death Penalty Analysis

The NY Times reports today on an interesting study in the Journal of Empirical Legal Studies that concludes that Texas, generally thought to be the death penalty capital of the U.S., actually sentences a smaller percentage of people convicted of murder to death than the national average because the conventional view fails to take into account the large number of murders in Texas.

“Texas’ reputation as a death-prone state should rest on its many murders and on its willingness to execute death-sentenced inmates,” wrote the authors of the study, “It should not rest on the false belief that Texas has a high rate of sentencing convicted murderers to death.”

As a percentage of murders, Nevada and Oklahoma impose the most death sentences, at 6 and 5.1 percent. In Texas, the percentage is 2 percent. The rate in Virginia, another state noted for its commitment to capital punishment, is 1.3 percent. The national average is 2.5 percent; the median is 2 percent.
Using the same analysis, the study concluded that blacks are actually underrepresented on the nation’s death row in that blacks commit 51.5 percent of all murders nationally, but only comprise 42 percent of death row inmates.

More on Impending Skilling Indictment

The NY Times follows yesterday’s Houston Chronicle report with this article on the impending indictment of former Enron CEO, Jeff Skilling. Mr. Skilling and former Enron Chairman Ken Lay are the two highest ranking former Enron officers who have not been indicted by the U.S. Justice Department’s Enron Task Force. Messrs. Skilling and Lay are coming under intense scrutiny at this time because of the recent plea bargain that ex-Enron CFO Andy Fastow struck with the government last month, as noted in this earlier post. Here are links to the Fastow indictment and plea bargain agreement.