The beverage industry, which contributed more than $7 million to the initiative campaign, has been seeking relief from a growing wave of city soda taxes. Frustrated by the industry's tremendous influence at the Capitol, where it has blocked bills to tax and label sugary drinks for years, public health advocates are now turning to the local ballot box. … [Read more...] about Soda tax ban for California cities heads to Jerry Brown
Shares for sale in coca cola
The sales data pulled shares in Macy's and other retailers lower. But those losses were tempered by midafternoon as some economists and analysts questioned whether the government shutdown and resulting delay in collecting the retail sales data had made the results an unreliable barometer of consumer spending in coming months. … [Read more...] about Mixed finish for US stock indexes over weak retail sales
New Fake RINs IdentifiedCargill is seeking damages in U.S. District Court for the Southern District of New York from the International Exchange Services for allegedly refusing to replace 1.2 million biodiesel renewable identification numbers that were later found to be fraudulent. The food and agricultural producer is the latest victim of fraud within the Environmental Protection Agency’s electronic credit system for tallying renewable fuel production. The agency announced in July that it plans to be more flexible with companies that unknowingly purchase fake credits. The American Petroleum Institute said September 27 that it does not anticipate that the agency will rule before the end of the year on a final rule that could alleviate concerns about fraud in the program, though it was hoping that it would before a new compliance year begins this January. … [Read more...] about Energy and Environment Law Update – September 30, 2012
Regulating the WorldIt would not profit the objective of this article or please the reader’s patience to provide an overly dense description of China’s regulation of outbound foreign investment. China regulates investment abroad in much the same manner that it regulates inbound investment. The National Development and Reform Commission (NDRC), the former State Planning Commission, or its local provincial affiliates must review and approve outbound investments. Formerly any resource investment above $30 million and any non‐ resource investment above $10 million had to go to the national level NDRC for approval. Although the respective amounts were raised in 2011 to $300 million for resource projects and $100 million for non‐ resource projects, an approval from the planning authorities is still required both before the Chinese buyer begins serious substantive negotiations and after the buyer has completed those negotiations and wishes to implement the … [Read more...] about Bilateral China / US Investment ‐ Is 2014 the Year?
Lessons in Indemnification and Advancement AgreementsDov Charney v. American Apparel, Inc. highlights the limits on the ability of officers and directors to receive indemnification or advancement for actions taken beyond the scope or span of their positions. The indemnification agreement in American Apparel provided advancement for claims “related to the fact” that Mr. Charney is or was a director or officer of American Apparel. The Court found that the actions by Mr. Charney at issue, including privately discussing a potential takeover with a private equity firm or seeking to replace or solicit directors, did not implicate his use or abuse of corporate power as a fiduciary of American Apparel. Instead, Mr. Charney took those actions solely in his personal capacity. Thus, the Court found that the lawsuit brought by American Apparel was not based on the fact that Charney was an American Apparel director or officer or his conduct in that … [Read more...] about M&A Update: Highlights from 2015 and Implications for 2016