Bank bailout: Free white paper and webcast

 

As the attention in Washington, D.C. is on a Treasury Department proposal for a $700 billion bailout of major lenders, West LegalEdcenter and West Legalworks are providing some free resources for anyone involved in the mortgage and asset-related securities market to learn more about the bailout proposal.

First, a free white paper titled “The Impact of Securitization on the Legislative Proposal for Treasury Authority to Purchase Mortgage-Related Assets” was just written by Talcott J. Franklin.

He is the co-author of the Mortgage and Asset Backed Securities Litigation Handbook from West, and is a partner and head of litigation in the Dallas office of Patton Boggs LLP.

“Everyone has questions and anger with respect to who caused this mess and why no one acted sooner,” Franklin writes.

“But the fact is, we have to act quickly to reduce the impact of this crisis. When Americans act together, we can overcome every challenge, and we will overcome this one. But if we fall into partisan bickering and the laying of blame, if we are motivated solely by self-interest and not the overall good, if we act rashly and without careful thought, the crisis will grow, as will the sacrifice required to remedy it.”

Franklin adds, “This paper takes no position on whether the Treasury Proposal should be adopted, only that it can be improved. Many excellent points have been raised during the course of the hearings on the Treasury Proposal. This paper points out some additional issues for consideration.”

In addition to the free white paper, a free live webcast titled “Bailout or Washout: An Analysis of the Treasury Proposal to Purchase Mortgage-Related Assets,” will take place Monday, Sept. 29, from 1 p.m. to 2 p.m. Eastern.

The webcast will address a number of questions, including:

• What would the Treasury own if it bought mortgage-backed securities?
• How will the oversight mechanism of Treasury’s investments operate?
• What are the benefits of the proposal? The risks?
• What will determine the success or failure of this plan?
• How will the taxpayers be compensated for their investment?

The webcast will feature Franklin, the Hon. Chris Bell – a former member of Congress and member of the House Financial Services Committee – and Thomas F. Nealon, Franklin’s co-author of the Mortgage and Asset Backed Securities Litigation Handbook. Nealson is general counsel at LNR Partners, Inc.

Again, you can download the free white paper here and register for the free webcast here.

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West responds to hurricanes

A letter from Peter Warwick, president and CEO of West and Thomson Reuters North American Legal.

To our customers:

Everyone at West is moved by the devastation and loss suffered by the communities and victims of Hurricanes Gustav and Ike. It’s only now, as people begin to return to their homes and offices, that we’re hearing about the true extent of the damage in human terms. And though there are sure to be difficult times ahead, there is also hope that life will again return to normal for you – our customers, friends and colleagues along the Gulf Coast.

West is committed to helping customers affected by Hurricanes Gustav and Ike restore their practice and business as soon as possible. To assist in the rebuilding effort, we’ve set up a dedicated hotline.

If you have been displaced by the disaster, please contact West Customer Service at 1-800-328-4880, ext. 67281, to let us know that you’re safe and what your needs are. When you’re ready to get back on your feet, we’re ready to help.

West is proud of its heritage and longstanding partnership with attorneys and the courts, and we are proud to stand with you throughout your process of recovery and rebuilding. Please know that our thoughts are with you and that we are here to help.

Very best wishes,

Peter Warwick
President and CEO
West and Thomson Reuters North American Legal

RNC and Thomson Reuters

Last week, I gave you my impressions of the DNC in Denver. Now, as promised, some equal time for the RNC in St. Paul – held not far from the largest Thomson Reuters location, the headquarters of West, in Eagan, Minnesota.

Both conventions gave West and Thomson Reuters some great exposure. We were a sponsor for the non-partisan Host Committees. This makes total sense as the conventions are first and foremost civic events for the cities of Denver and Minneapolis/St. Paul.

Uniquely at the RNC, we hosted the Host Committee’s VIP Hospitality Suite last Tuesday night and the best party of the week, on Wednesday night at Seven in Minneapolis.

At the RNC, once again our own Thomson Reuters Media operation was most impressive. Above is the Reuters Media broadcast booth at the Xcel Energy Center in St. Paul where correspondents from Europe to Asia were reporting the story. I am so proud of the work the Reuters team does and I am so honored to have had dinner with the correspondent who broke the story of the pregnancy of Sarah Palin’s daughter.

I was on the convention floor at the RNC a few times on Thursday night, before John McCain’s acceptance speech. The floor was full of energy, just like the DNC. Both McCain and Palin energized the Republicans and turned a convention that started with a “canceled” day one due to Hurricane Gustav into a media winner, that showed increasing energy all week.

I also think both St. Paul and Minneapolis did a great job. Delegates constantly told me so as I spoke to them. They loved the friendliness of the Twin Cities, and the weather. The flow of people and traffic was much better in St. Paul than in Denver. Even with the arrests of more than 820 people protesting during the week at the RNC. That was four times the number in Denver. Sure, security was as tight but the lines to get to the metal detectors were much shorter making it a much more enjoyable experience.

For our employees, the RNC was terrific, too. Many were able to attend the events and social functions. They got to meet visiting dignitaries and local leaders. Some came to the Xcel Energy Center to see the actual floor sessions. Our facilities team also played a huge role with transportation, logistics, runners, and anything else the Reuters Media team needed to do their jobs.

During the two weeks of both conventions, we also met with hundreds of lawyers who are our customers and many elected and appointed politicians. In fact, we often were the ones inviting our customers and political types into convention events!

We also hosted a dinner in each city for the Reuters Media team covering the conventions. You should have heard the product ideas, use of news, and ideas of the incorporation of Westlaw fly around the tables.

We definitely enjoyed being a part of both conventions.

Remember to vote in November! 

Rick King
Executive Vice President, Chief Operations Officer
Thomson Reuters North American Legal

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Tekne Award finalists announced

The Minnesota High Tech Association just announced the finalists for the ninth annual Tekne Awards, which recognize superior technological innovation and leadership in Minnesota.

Congratulations to Rick King, EVP and chief operations officer for West, for being named a finalist for the technology executive of the year award in the established company category.

Congratulations also to Lean Blanchfield, vice president of Product Development, Litigation; Kevin Appold, senior director of Dockets/Profiler; Jon Medin, director of Content Compliance; and Jeff Willhite, director of Product Development, and to Medical Litigator for being named a finalist in the technology services award category.

Good luck to you at the Oct. 30 awards ceremony.

“360″ view of hot legal topics

Anticipating what the other side will say and do is part of every litigator’s preparation.

West LegalEdcenter is making it easier to do that with some new webcasts on a few hot legal topics in a “360″ series of online programs, which allow participants to draw on the varied viewpoints of presenters who work at law firms, corporations and government agencies.

They also can fulfill continuing legal education (CLE) requirements at the same time.

Three series of 360 webcasts are underway: 

• A three-part series on records management provides an introduction to records management and compliance readiness.
• A series on mortgage foreclosure also debuted this month and addresses reverse mortgages, subprime litigation and regulatory compliance issues facing attorneys.
• A series on privacy law will feature three webcasts covering privacy enforcement, Internet privacy, and privacy issues and company branding.

For more information, go to the West LegalEdcenter website.

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RNC update: Life inside the Reuters media pit

We’re in the Reuters news station on Day 4 of the RNC in St. Paul. It’s quiet. Photographers, reporters, editors, TV journalists and cameramen sit in their sections around the tent, passing stories or photographs back and forth to each other online to be updated, edited, approved and submitted to the wire.

Joe Skipper, Senior Photographer for Reuters Media, allowed us to look over his shoulder as he did what Reuters does best …

In the matter of seconds, Joe received digital photos from photographers on the convention floor via computer. Joe sifted through the images, selected the best ones, cropped and resized them, sent them off to his boss, Gary Hershorn in New York, who added captions and color treatments send them back to Joe.

He then forwarded the images to the international bureau in Singapore who stamp their final approval for the photos to hit the wire. It sounds like a long time, but the whole process takes around five minutes.

“We’re able to get the most compelling, significant photos out to the world seconds after the photos are taken,” Joe said. “We have the best photographers, the best results and the most recognizable images in the world; it’s really remarkable.”

DNC and Thomson Reuters

I spent last week at the DNC in Denver and I have to say it was quite a good show for the Democratic Party. From Michelle Obama’s address early on, the convention captured the hearts and soul of the party.

The award for the best speech goes to former President Bill Clinton. Certainly, Obama’s acceptance address was an A+, but Clinton did everything he could to unify the party. A close runner-up was Hillary Clinton’s speech. She also worked hard to mend fences.

The week was made for TV. You probably watched the Obama kids (very cute) and the spouses lovingly hanging on their pol’s arms. Protesters were everywhere. So were police from every jurisdiction – federal, state, county and local. Things were peaceful. There were a few arrests – some protesters and a couple nut jobs.

Speaking of the streets, the vendors were something. Hocking everything from buttons to watches (time for change)… these folks were aggressive, but friendly, helpful and lots of fun.

Thomson Reuters had a big presence at the DNC, providing political coverage, print coverage, photos and video feeds. They were also a big help to us during the convention. Thanks to Larry Rubenstein and his team. A job well done. They are back at it this week at the RNC.

And speaking of the press, on the way back from Denver, I met and talked to Bob Schieffer and Dan Rather. Both wonderful gentlemen. Dan and I had an extended talk about the DNC, the RNC, McCain’s VP choice, and the Twin Cities.

He also asked about Thomson Reuters. He was very curious about our announcement of a new TV channel, challenging Bloomberg and CNBC. As the plane landed, he still wanted more. I left him my card and the contact information for Devin Wenig, CEO of Markets.

Denver displayed itself well. We can only hope the Twin Cities do as well. I’ll have a recap of the RNC, soon.

Rick King
Executive Vice President, Chief Operations Officer
Thomson Reuters North American Legal

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Blog coverage from ILTA

We’ll be in Grapevine, Texas starting this Sunday afternoon for the ILTA ‘08 Conference. The theme of the four-day event from the International Legal Technology Association is “Global Perspective, Peer Advantage.”

(Aerial view of the Gaylord Texan Resort and Convention Center)

ILTA ’08 will attract attendees looking to further their professional development in a structured educational setting, learn from peers, and make valuable connections. West and other Thomson Reuters legal businesses, including Elite and LiveNote, will be in the exhibit hall. We’ll be reporting on the conference with updates, photos and interviews with attendees – and some of our colleagues, too.

Let us know if you’re also planning on being at ILTA ’08 and want to give us your perspective on how technology supports the legal profession, or the conference in general. Just leave a comment to this post and we’ll get in touch.

ILTA also will be blogging from the conference so be sure to check out the updates there. For more information on the schedule of events, visit the ILTA ’08 Conference website.

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Witkin’s 5th Edition of California Procedure

In California, and beyond, the name Witkin carries a lot of weight among legal professionals. Bernard E. Witkin’s legacy lives on in the release of the 5th Edition of Witkin, California Procedure.

The new edition adds thousands of appellate decisions, and hundreds of thousands of statutory changes since the 4th Edition was published 12 years ago. Each topic in the new California Procedure also has been rewritten and revised. Its 10 volumes are available on the West Web site and on Westlaw.

Like all Witkin works, California Procedure, 5th edition, was prepared by the attorneys and editors of the Witkin Legal Institute, who were selected and trained by B. E. Witkin - considered the most well known and highly respected commentator on California law.

The Witkin Library, published by West, now has 35 volumes of the Summary of California Law, California Procedure, California Evidence and California Criminal Law. Contact West Customer Service at 1-800-328-4880 for more information.

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West booth at ABA Annual Meeting

The West booth in the ABA Annual Meeting exhibit hall in the New York Hilton has a coffee shop theme.

We asked Bob Grabowski, national book sales manager, about it:

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Message from West president and CEO

Tonight, the Torts Trial and Insurance Practice Section of the American Bar Association will award its first Liberty Awards to the Honorable Bernice Donald and Catherine Christian, President of the New York County Bar Association.

West is the sponsor of this award, which honors diversity in the practice of law. The award ceremony will be held at Ellis Island – fitting since this was the entry point for so many people who came to the United States to seek new opportunities for themselves and their families.

Watch a video message below from Peter Warwick, president and CEO of West, about the Liberty Awards and the importance of diversity to West.

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A rose of a city

“The City of Roses” was a great host for AALL, but it’s time for us to leave Portland and head back to Minnesota.

(Image courtesy: AALL)

We hope you enjoyed our blog posts from the meeting and the videos, photos and text we brought you.

Next year, AALL takes its show to Washington, D.C.

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Arthur Miller interview featured at AALL

A video interview featuring West Key Author Arthur Miller was shown here at AALL as part of the West town hall on legal research skills. We blogged about that event in a previous post.

We broke the 14 minute interview with Miller in half, into two video clips:

Arthur Miller (Part 1): Legal research and writing training at law schools

Arthur Miller (Part 2): The “starting point” for legal research and use of technology for it

We welcome your comments to Arthur Miller’s remarks.

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West rewards library marketing excellence

Law libraries recognize the importance of getting the word out about their services.

The AALL/West Excellence in Marketing Awards honor outstanding achievement in public relations activities by an individual, a group of individuals, a library, a Chapter, an SIS, a Consortium, a Caucus, or any other group affiliated with the Association.

AALL believes public relations is a critical responsibility of nearly every member of the library profession and they issue the Excellence in Marketing Awards to inspire, educate and encourage promotional activities by the AALL membership.

This year’s winner for Best Brochure was the Law Library of Congress in Washington D.C.

Leon Scioscia talked to us about the Law Library of Congress and showed us the winning brochure:

The other four 2008 AALL/West Excellence in Marketing Award winners are:

Best Campaign
Rhode Island State Law Library (Providence, RI)
Justice Rules in Rhode Island-An Educational Collaborative

Best Newsletter
Jacob Burns Law Library (Washington D.C.)
Legal Miscellanea: A Newsletter for the Friends of the Jacob Burns Law Library

Best Public Relations Toolkit
Wahab Public Law Library (Virginia Beach, VA)
Welcome to Wahab!

Best Use of Technology
King & Spalding (Houston, TX)
Articles & Alerts Monitor of Peer Law Firms

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West’s Anne Ellis talks about AALL

Anne Ellis, senior director, West Librarian Relations has experienced many AALL Annual Meetings in her career.

We asked her to give us her perspective on why it’s important for West to be at AALL and continue the strong relationships with law librarians, in this video interview:

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