THE TICKER President Trump waves as he leaves a roundtable discussion on tax policy at a Boeing plant in St. Louis last month. (AP Photo/Evan Vucci) Tuesday should have been a banner day for Boeing’s stock. The White House announced that it is sending four top economic hands, led by Treasury Secretary Steven Mnuchin, to China next week in the hopes of negotiating a resolution to the escalating trade conflict that has rattled shares of the aerospace giant. And the administration named an acting head of the Export-Import Bank — the lending facility derided by conservative critics as the “Bank of Boeing” — that has been hobbled by vacancies since 2015. But the company’s shares slid nearly 4 percent amid a broader bloodbath for industrial stocks. The Dow Jones industrial average tumbled for the fifth consecutive day, its longest losing streak in more than a year, falling 600 points at one point before recovering slightly to … [Read more...] about The Finance 202: Boeing’s stock was the best bellwether of a trade war. Until yesterday.
Virginia quarterly review submissions
These are the three most frequent questions that our colleagues outside Canada ask when they face a Canadian restructuring under the Companies’ Creditors Arrangement Act ("CCAA"): Who is this monitor? What is its role? Who does it represent? The most simple, textbook answer to the first question is probably the following: A monitor is usually an accounting or financial advisory firm that must be licensed to act as a trustee in bankruptcy under the Canadian Bankruptcy and Insolvency Act ("BIA"). Accordingly, monitors tend to be professionals in Canadian accounting or financial advisory firms who have obtained their Chartered Insolvency and Restructuring Professional ("CIRP") designation from the Canadian Association of Insolvency and Restructuring Professionals.That being said, the monitor is much more. Aside from the debtor company, the monitor has become the most important player under the CCAA, the Canadian equivalent of Chapter 11 of the US Bankruptcy Code ("Chapter 11").In … [Read more...] about The Role of the Monitor and Its Impact on US Restructurings
Trends & AnalysisWe have identified 42 health care–related qui tam cases that have been unsealed in whole or in part since the cases covered in our last Qui Tam Update. Included in that count is one proceeding (the “Consolidated Case”) in which three separate actions were consolidated into a single case.A substantial majority of the unsealed cases had been under seal for periods well in excess of the required statutory period. Of the 44 complaints filed in those 42 cases, three quarters of the complaints (33 of 44) were filed before 2015, with one unsealed complaint dating back to November 2008 and two others dating back to 2010 and 2011, respectively. Of the remaining complaints, five were filed in 2012, fourteen in 2013, eleven in 2014 and eleven in 2015. As these cases illustrate, extensions of the seal on qui tam actions continue to be routine.The cases identified were filed in federal district courts in 15 states and the District of Columbia, … [Read more...] about Claims, Awards, Enforcement Action: Qui Tam Update – Recently Unsealed Whistleblower Cases
Substantive changes may be coming to OSHA’s process safety management standard, EPA’s Risk Management Plan regulations, and DHS’s CFATS program. Companies affected by these and other programs regulating process safety and security should be aware of the developments and, as appropriate, consider participating in the rulemaking process. This alert reports on why and how multiple federal agencies are newly focused on updating and expanding their programs related to handling hazardous chemicals safely and securely. Executive Order 13650In April 2013, an explosion at an ammonium nitrate fertilizer facility in West, Texas killed 15 people and injured more than 200. Subsequently, on August 1, 2013, President Obama issued Executive Order 13650 (“Improving Chemical Facility Safety and Security”). The Executive Order established an interagency Chemical Facility Safety and Security Working Group, co-chaired by DHS, EPA, and OSHA. It directed the Working … [Read more...] about Wide-ranging Federal Plans to Address Chemical Process Safety and Security
Energy and Climate DebateFollowing an extended debate over a number of non-germane energy amendments, the Senate overwhelmingly approved March 14 a $109 billion transportation bill that would fund road and transit projects for the next two years. The bipartisan 74-22 vote places added pressure on Speaker of the House John Boehner (R-OH) and House Republicans to either pass a measure of its own or take up the Senate-approved version before current highway funding expires March 31.The legislation extends current levels indexed to inflation while also reforming the project review process and consolidating a few federal programs. The Speaker’s preferred language is a five-year, $260 billion package that would pay for infrastructure projects with revenue from new domestic oil and gas drilling; while House Republicans have been divided on the measure, it is possible that the House could move to the Senate bill soon.Prior to the vote, the Senate moved through two amendments on the … [Read more...] about Energy and Environment Update – March 20, 2012