Politico: “Arizona Republican Gov. Jan Brewer mocked the Obama administration’s assertion Saturday that the border is more secure than ever. ‘It’s Jay Leno comedy every other week,’ she told POLITICO”
Rural/Metro Corp., a Scottsdale-based company that provides fire and ambulance services for hire in 21 states, filed a petition for Chapter 11 bankruptcy reorganization in federal bankruptcy court in Delaware. Lenders will loan the company $75 million and it will get additional cash of $135 million during its reorganization. Rural/Metro was acquired by Warburg Pincus for approximately $438 million in 2011.
Azcentral.com: “A federal appeals court has rebuffed a bid by the four managers of a bankrupt Arizona company to escape paying a $3.7 million verdict for securities fraud. . . . The judges also called it ‘undisputed’ that all four knew they were committing fraud by lying to investors about the nature of what they were getting. . . . The Arizona Corporation Commission earlier this year ordered Tom Hirsch, Harish Shah, and Howard and Berta ‘Bunny’ Walder, along with an affiliated entity, to pay $189.8 million in restitution and more than $4.6 million in administrative penalties for defrauding investors.”
The lawsuit arises from $190 million in investments made by an Arizona company called Radical Bunny, LLC, into a failed company called Mortgages, Ltd.
Bottom Line: If you offer to sell or sell a security, you must comply with federal and state securities laws or a court will find you liable to repay the losses suffered by the investors. See an experienced securities lawyer before you offer or sell a security such as stock or membership interests in a limited liability company when people are investing substantial amounts of money.
American police have become militarized and have lost the concept of reasonableness. Nothing illustrates this point better than the outrageous raid carried out by 13 law enforcement officers at the St. Francis Society Animal Shelter in Wisconsin. The legalized thugs served a search warrant on the animal shelter because it had taken in a motherless young deer. The July 9th raid was the result of two anonymous tips that the shelter had a baby deer, which caused the full weight of the law to rain down on the do good animal society.
The offense? Possessing wildlife without a permit. The animal cops acted as judge and jury put little “Giggles” the fawn into a bag and took the little animal from the safety of the animal shelter and killed the innocent little thing! The animal shelter was across the street from the Illinois state line. The deer was a resident of Illinois because it had been found by Illinois residents who brought the animal to the St. Francis Society. Instead of extraditing little Giggles back to its state of birth where the St. Francis Society had found a permanent home for it the animal police murdered the fawn. According to Jennifer Niemeyer, the Wisconsin Department of Natural Resources local warden supervisor, Wisconsin law requires the DNR to euthanize animals “because of the potential for disease and danger to humans.”
For more see “Baby Deer, ‘Giggles,’ Killed After Raid On St. Francis Society Animal Shelter,” “Armed agents raid animal shelter for baby deer” and “Wisconsin DNR defends removing fawn from shelter, killing it.” In the latter article the DNR says it took Giggles because the St. Francis Society didn’t have a permit for the deer. If that is the case, why didn’t DNR just send one civil servant to the animal shelter and say “Please complete this application for a permit for Giggles?” Instead, the DNR sent 13 armed thugs to terrorize the animal shelter people so it could kill the deer for its own good.
Former President Ronald Reagan said “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’”
USA Today: “The FBI gave its informants permission to break the law at least 5,658 times in a single year, according to newly disclosed documents . . . . Agents authorized 15 crimes a day, on average, including everything from buying and selling illegal drugs to bribing government officials and plotting robberies.”
The days when the United States was subject to the rule of law are gone. The federal government breaks the law with impunity and the President, the Department of Justice and Congress does nothing.
Arizona like the rest of the country has suffered through the real estate bust. Many prognosticators predicted that people who lost homes through foreclosures and short sales would be out of the real estate market for many years due to the bad credit that arises from defaulting on a home loan. The good news is that the prognosticators may have been wrong. A story in the Arizona Republic says:
“Thousands of new Phoenix-area homeowners are proving the experts wrong. These ‘boomerang buyers’ — so called by real-estate insiders because they were out of the market and have now come back — have returned as a major market force much earlier than expected. Many buyers are qualifying for a new loan only a few years after defaulting on their last mortgage.”
Arizona Republic: “Almost every state has responded to rising smartphone use with a law banning drivers from texting, many in the past few years. Arizona is one of nine states that have yet to make that leap, according to a Governors Highway Safety Association report released in July.”
The erosion in BigLaw jobs is depressing the salaries for all class of 2011 law graduates, according to new statistics from NALP–The Association for Legal Career Professionals.
Law grads from the class of 2011 are earning median pay of $60,000, a 5 percent drop from 2010 and a 17 percent drop since 2009. Average pay is $78,653, a 15 percent drop since 2009. The figures are for grads who found full-time employment in jobs lasting at least a year.
The drop in starting pay is even more pronounced when only private practice jobs are considered, according to a press release. Median pay for 2011 law grads in private practice is $85,000, an 18 percent drop from 2010, when the median was $104,000, and a 35 percent drop since 2009, when the median was $130,000. Average pay in private practice is $97,821, a 15 percent drop since 2009.