| Volume 83 Number 1 |
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The People’s Lawyer’s Tip of the Day
If you have reason to believe your personal information has been compromised and you may become a victim of identity theft, put in a fraud alert with the credit bureau.
Federal law requires that the credit bureau keep this alert on your file for 90 days.
How can you prevent identity theft?
Click here for more.
Automatic Spending Cuts Likely Coming
Two months ago, the "fiscal cliff" was the talk of the town. Fast forward to today and the big problem facing legislators is the potential for sequestration.
What does that mean?
Under sequestration, if total spending exceeds the budget, spending will be automatically cut.
As of now, spending cuts would come primarily from
discretionary spending. However, with potential cuts to the defense budget on the horizon, congressional leaders are hard at work trying to reach a deal. To date, several republican leaders have insisted that sequestration is very likely to occur. If that happens, the federal government will be forced to furlough hundreds of thousands of employees, lay off tens of thousands more, and significantly reduce essential services.
What's at risk with sequestration?
Click here for more.
Twinkies Set for a Comeback
Twinkies fans can relax!
When Hostess Brands recently closed its doors, many consumers were worried that they'd never get to enjoy the popular snacks again. As a result, Twinkies were selling at nearly 100 times cost on outlets like eBay and Amazon.
This week, it was revealed that two major investment firms were interested in acquiring the rights to Twinkies and other Hostess snack brands.
How much longer will it be until Twinkies are back on the shelves at your local supermarket?
Click here for more.
Your Money
What is the true cost of paying the minimum on your credit card bill? Click here for more.
For the Lawyers
Non-signatory cannot enforce arbitration agreement. The Fifth Circuit held that an accounting firm could not compel its clients to arbitrate their claims that the accountants had fraudulently convinced them to invest in particular securities. The accounting firm held up an arbitration agreement between its clients and a third party, a securities broker, which said any dispute between the clients and the broker were arbitrable, including those between the clients and the broker’s “officers, directors, employees or agents.” The accounting firm argued that although it was not a party to that agreement, it was an agent of the broker, and could therefore enforce the arbitration agreement. The court concluded that the accountants could not compel arbitration because the actions of which their clients complained were not performed as agents of the securities broker. The court also concluded that the accountants could not rely on equitable estoppel principles to compel arbitration, primarily because the clients’ claims did not rely on the agreement between the clients and the broker. Click here for more.