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Jun 17, 2016

DealBook P.M. Edition - June 17, 2016: Should Expensive, Low-Tier Law Schools Shut Down?

 
Friday, June 17, 2016
TOP STORY
Should Expensive, Low-Tier Law Schools Shut Down? Law school student debt is ballooning at the same time employment prospects are dimming. 


While law school applications have dropped by nearly 40 percent, enrollment has dropped by only about 30 percent, and the number of full-time faculty members has dropped by less than 15 percent.

In such a world, low-tier law schools like Valparaiso essentially face the following choice: Admit a large number of marginal students, or shut down.
  • NYT »
  • DEALBOOK HIGHLIGHTS
    Gretchen Morgenson: How to Gauge a C.E.O.'s Value? Hint: It's Not the Share Price A company's stock can rocket even as its operations are being run into the ground. But how else to link a chief's pay to performance? We asked experts to analyze returns on capital among top 200 companies. The study concluded that 74 overpaid their chief executives.
    Simon Jentzsch, co-founder and chief executive of Slock.it.
    Hacker May Have Taken $50 Million From Bitcoin Alternative Ether An organizer working with an experimental virtual currency project sent out emergency alerts explaining that people had decided that shuttering it would probably be the best move.

    "The D.A.O. is being attacked," Griff Green wrote. "This is not a drill."
    A couple look at an iPhone 6 at an Apple store in Beijing.
    Apple iPhone Is Targeted in Beijing Patent Case A complaint from an obscure Chinese phone maker resulted in a partial iPhone sales ban, though the order has been stayed as Apple appeals.
    Steven Davidoff Solomon: Viacom Director Has Uphill Battle in Case Against Redstone We have the beginning of the end of a messy legal battle as a Delaware court will determine whether five Viacom directors stay, and by implication, Philippe Dauman as chief executive.

    The question is, Who has the better case?
    Breakingviews: Golden Parachute Would Ease Dauman's Exit From Viacom If Philippe Dauman were terminated in his battle with Sumner Redstone, he would leave with a pay package worth an astonishing $84 million.
    Supporters of Grassroots Out campaign outside the Electoral Commission in London in March.
    Stephen J. Lubben: Brexit Could End London's Reign as Europe's Financial Hub The change might mean fewer banks and lawyers in the area. As a result, the reasons to negotiate a workout in London and present it to a British court would decline.
    A pub in London reflects the coming referendum.
    Upshot: Why Financial Markets Are Calm and Carrying On Regarding 'Brexit' Markets tend to be very efficient, except when they're not. And those are the times that can be brutal for investors.
    Buzz Tracker
    Countrywide's Mozilo Off Hook as U.S. Said to Abandon Suit U.S. prosecutors have abandoned their case against Angelo Mozilo after a two-year quest to bring a civil suit against him. In recent years, the 77-year-old has been living in a 12,692-square-foot house in Santa Barbara, investing and writing a book.
    Yahoo's Marissa Mayer Stumbled After Secret Truce With Investor As tough as her job was from the start, Ms. Mayer made things even worse after Starboard began prodding Yahoo, the Journal reported. "Her core mistake was this belief that she could reinvent Yahoo," says a former executive. "There was an element of her being a true believer when everyone else had stopped."
    How Hired Hackers Got 'Complete Control' of Palantir Palantir hired a cybersecurity firm last year to test its digital defenses. A confidential report shows how the pro hackers were able to dominate the tech company's network.

    For the latest updates, go to NYTimes.com/DealBook
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