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Fed Slashes Rates by 1/2%.

The Federal Reserve did what was expected, and no more, cutting interest rates by a half-point to 1%.

 
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The day's top legal stories accompanied with summaries.

Law.com
  • Eric Holder Is Obama's Top Choice for AG
    President-elect Barack Obama's top choice for attorney general is Eric Holder, a former No. 2 Justice Department official in the Clinton administration who would become the first African American to serve as the nation's chief lawyer. The Obama transition team has gone so far as to ask senators whether they would confirm Holder, an Obama official and people close to the matter said Tuesday. But the official said the decision has not been finalized, and transition spokesmen said no decision has been made.

  • Lessons on Change From Obama's Victory
    Many lawyers react to predictions of change with skepticism, writes Paul Lippe, a founder and CEO of Legal OnRamp. But change does indeed happen, and we need look no further than Barack Obama's extraordinary run to the White House for some very relevant lessons on how. The same forces that Obama harnessed for his victory -- demographics, globalization, transparency and technology -- are driving a transformation in law, Lippe says.

  • Winston Gains 18 Thelen Attorneys
    Winston & Strawn has gathered some prized partners from the rubble of Thelen. Antitrust litigator Robert Pringle and bankruptcy partner Richard Lapping headline a group of 18 lawyers joining the firm. Pringle has a book of business between $5 million and $10 million, and Lapping was the San Francisco managing partner for Thelen. Winston has a big-time Thelen connection -- San Francisco managing partner Charles Birenbaum was a Thelen partner but left in 2003 after losing a bid to be chairman by one vote.

  • First Steps: Baby Lawyers Set Off on Disparate Professional Paths
    As political and financial leaders take extraordinary steps to revitalize the economy, the majority of the 2008 graduates from Texas' law schools are in the first few months of their professional lives as attorneys. A credit crisis, a volatile stock market and unpredictable global economy form the business backdrop for these grads. Five graduates who have chosen diverse careers are profiled by Texas Lawyer, which will check in with them annually for career updates over the next several years.

  • Protecting Yourself From and Surviving In-House Cuts
    The volatile stock market and struggling economy have intersected at various points that have significantly affected attorneys in private practice and corporations. Corporate law departments are not immune from the headcount reductions that have openly and quietly affected law firms. In-house lawyers should be prepared, says consultant Frank Michael D'Amore, who provides suggestions that should offer protection and, if calamity should strike, better prepare you for the future.

  • A Closer Look at Digital Rights Management
    Despite the obituary written for digital rights management by some, it remains a continuing part of new media distribution. Richard Raysman and Peter Brown discuss DRM, its new technologies, such as content identification, and how DRM is being considered by courts and litigants.


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