The Dallas based law firm of Jenkens & Gilchrist has evidently reached a settlement with the IRS on the ongoing battle over tax opinions rendered by the firm. This dispute (both the civil suits and the IRS prosecution) has for the most part caused the firm to shut down, although that wind down has [...]

Citigroup reports that Vonage Holding Corporation has had the “worst performing US initial public offering in the past, year” and could possibly filed for bankruptcy protection by 2009.
Citigroup analyst Michael Rollins reduced his rating from “hold” in a note to investors Monday and said ongoing patent litigation increases risk to the company’s profitability. [...]

As the real estate market softens in certain areas of the country and in certain markets within those geographic area, there are more stories coming out about speculators. Here is one article which relates to the Houston Condo market and points out the number of speculators who have gotten burned by the down turning [...]

The FBI announced on Wednesday that it was investigating possible fraud in Beazer Homes USA Inc.’s mortgage lending practices and other financial transactions. The Atlanta based company is the subject of investigations by the FBI, US Attorney’s office, IRS and the US Department of Housing and Urban Development.
A spokesman for the FBI’s Charlotte, NC [...]

As the baby boomer generation ages, one side effect may be the fall in popularity (and prices) of the large suburban houses which have been a large part of the increase in average housing prices over the last ten years. As with all things related to real estate, this prediction will surely come true [...]

The California Supreme Court granted review in Miller v. Bank of America last week. The state Supreme Court will decide on a case in which Bank of America (“BofA”) could face more than a billion dollars in damages for its banking practices.
In 2004, a class led by Paul Miller won a judgement against BofA, [...]

In a previous blog posted on February 20, 2007 we reported that a German news source said the buyer of Aston Martin would be a holding company which owns several high end companies. It is now official and Ford has sold the profitable luxury car unit, in an effort to raise cash, to David [...]

On January 17, 2007, we wrote about the case of Travelers Casualty and Surety Co. v. Pacific Gas and Electric Co., 549 U.S. ___ (2007), which was argued before the U.S. Supreme Court on January 16. The Supreme Court issued an opinion on the matter today and held that the Court of Appeals for [...]

The government of France has officially opened all of its files on UFO’s.
“Patenet’s answer to questions about evidence of life beyond Earth was sure to inflame the suspicions of those convinced the government is holding back: “We do not have the least proof that extra-terrestrials are behind the unexplained phenomena http://search.breitbart.com/q?s=%22unexplained+phenomena%22&sid=breitbart.com.”
But then he added: [...]

Hancock Fabrics Inc., which sells fabrics, crafts, etc., and its subsidiaries filed for Chapter 11 Bankruptcy Protection on Wednesday of this week in Delaware.
“Hancock said it has negotiated a consensual $105 million debtor-in-possession financing arrangement with Wachovia Bank N.A., in which the company will gain additional borrowing capacity necessary to operate successfully under Chapter 11.
The [...]