The real reason why Barry might not play?

barrybonds.jpgBaseball fans are opening their newspapars this morning to this article reporting that star San Francisco Giants slugger Barry Bonds, the best baseball player of his generation, might not play this upcoming season because of a minor knee injury and the effect that media scrutiny of Bonds’ steroid use has had on his family. However, as Paul Harvey would say, “here’s the rest of the story.”
Turns out that Bonds’ former mistress — Kimberly Bell — is apparently singing like a canary to the same federal grand jury in San Francisco that has been investigating the alleged illegal distribution of steroids that resulted in the indictment of certain individuals affiliated with BALCO (previous posts here and here). This San Francisco Chronicle article reports that Ms. Bell has not only testified that Bonds admitted to her that he used steroids, but that he gave her $80,000 from autographing baseballs in increments of just under $10,000 to avoid currency transaction reporting requirements. Federal prosecutors do not look kindly upon such activities.
As noted in this earlier post, Bonds allegedly claimed in his grand jury testimony several months ago that that he did not understand that some of the supplements that his BALCO trainer was giving him were steroids. Inasmuch as Ms. Bell’s alleged testimony reflects that prosecutors may be preparing to charge Bonds with perjury, currency reporting violations, and possible tax evasion, Bonds’ lack of desire to play this season may have more to do with preparing a criminal defense than anything else.

Professor Ribstein on the Law and Economics of Blogging

ribstein.jpgProfessor Ribstein over at Ideoblog is presenting a workshop on blogging at the University of Illinois (perhaps to take their minds off of Bruce Pearl, see this previous post). In organizing the event, the Professor has developed this insightful “blog article” that outlines the various legal, economic, and political issues that have arisen in the field of blogging. The Professor is encouraging readers to comment on the issues raised in his blog article, which he will then include in the final draft of his paper. Check out this innovative approach to developing ideas, which is the key goal of Professor’s Ribstein’s first-rate blog.

The real story behind the game

pearl.jpgOne of the alluring characteristics of the NCAA Basketball Tournament each season are the undercurrents that bubble to the surface when certain teams end up playing each other. One of the more delicious background stories of this year’s tournament pertains to this Thursday’s game between the number one seeded University of Illinois Illini and the University of Wisconsin at Milwaukee, which is making its first appearance in the Sweet Sixteen of the NCAA Tournament.
What makes this game so interesting is that Bruce Pearl, the UWM coach, was the central figure over 15 years ago in a recruiting scandal that haunts the Illinois program and its fans to this day. Pearl, then an assistant coach at Illinois recruiting rival Iowa, taped a conversation with Deon Thomas — a hot high school basketball prospect — and then turned the tape over to the NCAA Enforcement Division. The resulting investigation landed the Illini program on probation and the NCAA banned the program from the NCAA Tournament for a year. A couple of Illini assistant coaches lost their jobs over the affair, and Illinois and Iowa basketball fans re-confirmed their mutual and everlasting distaste for each other.
Although Illini fans allege that Pearl turned on the Illinois program simply because Illinois had won the battle for Thomas and that Pearl himself was guilty of recruiting violations, the NCAA did not cite either Pearl or Iowa for any violations in connection with its investigation of the affair. Nevertheless, many in the cozy basketball coaching “fraternity” deemed Pearl a “snitch” and blacklisted him. Moreover, inasmuch as the state of Illinois was Pearl’s main recruiting territory while he was on the Iowa coaching staff, his tarnished reputation in Illinois at the time prompted him to leave the Iowa staff and start over at a Division II school. Even though he had been a rising star in the coaching profession at Iowa, Pearl toiled for 12 more years in the backwaters of college basketball before finally getting a chance to coach at a Division I school, and then only at the obscure Milwaukee campus of the University of Wisconsin. Four years later, his team is the Cinderella story of the tournament.
So, you might want to take a few minutes tomorrow night and watch a bit of the Illinois-UWM tournament game. Even though the players on both squads were just pups at the time of the Pearl-Thomas affair, you can rest assured that the Illini fans — as well as Coach Pearl — will bring a special intensity to this particular game.
And if Coach Pearl’s Cinderella team were to prevail over the mighty Illini? Moments such as those are the reason why the NCAA Basketball Tournament remains a colorful thread in the fabric of America life each March. Don’t miss the opportunity to see it.

Updating the Yukos case — Yukos throws in the bankruptcy towel

fed cthouse.jpgRussian oil giant and former U.S. debtor-in-possession under chapter 11 OAO Yukos waved “good-bye” to the Houston federal courthouse yesterday by announcing that it would no longer pursue an appeal of U.S. Bankruptcy Judge Letitia Clark’s decision last month that dismissed the company’s chapter 11 case for lack of jurisdiction. Here are the earlier posts on the Yukos saga.
Yukos had requested both Judge Clark and U.S. District Judge Nancy Atlas to stay the order dismissing Yukos’ chapter 11 case pending the company’s appeal of that order, but both judges denied the stay request on the grounds that Yukos had failed to show a reasonable probability of success on the merits of its appeal. Yukos apparently concluded that its chances for a stay pending appeal at the Fifth Circuit Court of Appeals — not to mention its slim chance for success on the merits of the appeal generally — did not justify further machinations in the U.S. federal courts.
Yukos’ decision closes the chapter on an interesting “go for broke” chapter 11 strategy in its running battle with the Russian government. Although establishing bankruptcy jurisdiction in the United States federal courts for a Russian company was always a longshot, Yukos management does not have many alternatives left for attempting to salvage any value for shareholders. Despite the attraction of potentially lucrative business opportunities in Russia, the lesson of the Yukos case is that the Russian government remains a very powerful opponent of maintaining strong and valuable business interests there.