Coach Queeg at A&M?

Caine Mutiny.jpgSome people simply should not blog. Let me put this in context.
Two weekends ago, Iowa State hammered Texas A&M 42-14 in front of the fifth largest crowd in the history of Kyle Field. Then, last Saturday night, Texas Tech blistered the Aggies 56-17 in Lubbock.
In between those two debacles, Texas A&M head coach Dennis Franchione published this post on his Coach Fran website, which included the following:

From appearances at a press luncheon, and a Big 12 phone conference, and at the local Quarterback Club, and at our radio show, the most-asked question of the past week about our game was, “Why didn’t you run Jorvorskie Lane on third-and-one?”
Some people asked that question and really didn’t care about the answer. In fact, some people right now don’t care about anything we say, which is why in our camp we are working hard on doing instead of talking. Other than a few coaches who look at recruiting news, our staff does not spend time on the Internet and this week we didn’t spend time with emails or letters, either.

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Certain KPMG tax shelter civil suits stayed

kpmg logo36.jpgIn an interesting development, U.S. District Judge Vaughn R. Walker in San Francisco stayed a series of civil lawsuits over the legality of some KPMG LLP tax shelters pending the outcome of parallel criminal proceedings against certain of the individual defendants in New York. Prior posts on the KPMG tax shelter cases are here.
Normally, it’s the defendants who are facing criminal charges in parallel criminal proceedings who seek a stay of the civil lawsuit over the same subject matter. The argument in favor of a stay is that a defendant should not be required to choose between asserting the privilege against self-incrimination, on one hand, and effectively defending a civil lawsuit, on the other, while a criminal investigation of the subject matter involved in the civil lawsuit is ongoing.

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Keeping up with Merck’s Vioxx cases

merck_logo6.jpgWell, it’s only two down and about 6,500 to go, but last week’s take nothing verdict in the latest Merck/Vioxx trial evened Merck’s record in the Vioxx cases at 1-1 (earlier posts on Merck and Vioxx are here). Since that verdict, I have been meaning to pass along that Ted Frank and Walter Olson over at PointofLaw.com have created this handy Vioxx case page where you can keep up with developments in the Merck/Vioxx cases. Check it out.

The effect of failed urban economics on the French riots

French Revolution2.jpgJoel Kotkin is an Irvine Senior Fellow at the New America Foundation, the author of The City: A Global History (Modern Library, 2005) and a friend of Houston Strategies’ Tory Gattis. Mr. Kotkin came to my attention recently for his insightful writings on urban planning (here and here) during the aftermath of Hurricane Katrina.
In this OpinionJournal op-ed, Mr. Kotkin addresses the unintended consequences in France of governmental policies such as high taxation, the welfare state and the economic barriers to entry caused by excessive regulation:

The French political response to the continuing riots has focused most on the need for more multicultural “understanding” of, and public spending on, the disenchanted mass in the country’s grim banlieues (suburbs). What has been largely ignored has been the role of France’s economic system in contributing to the current crisis. State-directed capitalism may seem ideal for such American admirers such as Jeremy Rifkin, author of “The European Dream,” and others on the left. Yet it is precisely this highly structured and increasingly infracted economic system that has so limited opportunities for immigrants and their children. In a country where short workweeks and early retirement are sacred, there is little emphasis on creating new jobs and even less on grass-roots entrepreneurial activity.

Read the entire piece.

Guidant: “Spitzer is no stinking MAE”

guidant_logo_web.jpgUndeterred by the Lord of Regulation’s entry into the dispute, troubled medical-device maker Guidant Corp. filed a lawsuit yesterday in New York City against disenchanted merger partner, Johnson & Johnson. Guidant is attempting to persuade the court to overrule J&J’s stance that Guidant’s recent troubles constitute a “material adverse effect” on Guidant’s business that allows J&J to walk away from its proposed $25.4 billion merger ($76 per share) with Guidant that the companies announced last December.

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