Take the money and stay: industrial location incentives and relational contracting
The ability of corporations to effect plant relocations despite receiving tax incentives and other financing from municipalities exposes a weakness in contract law that could be remedied under relational contract principles. A trial court in Michigan used promissory estoppel to enjoin General Motors from leaving Ypsilanti, but the appellate court reversed and other courts have adhered to contract principles that assume every bargain is discrete and independent. Placing contracts within the context of more complex, on-going relationships would incorporate the social costs involved with industrial relocations into contract law.
Publication Name: New York University Law Review
The Unfunded Mandates Reform Act of 1995: where will the new federalism take environmental policy?
The Unfunded Mandates Reform Act of 1995 redefines the relationship between states and the federal government while reducing the likelihood of environmental regulations unless vital to public safety and health. The concept of unfunded mandates as the root of state, local and tribal governments' fiscal difficulties has overcome the support for environmental regulations. The implications of this Act may also spread to industry which is claiming unfair competition if unfunded mandates are still directed at industry and not at government businesses.
Publication Name: Natural Resources Journal
Toymakers Take Over Children's TV
Children's television is being programmed with commercials for toys. Action for Children's Television (ACT) has filed a complaint with the Federal Communications Commission (FCC) asking that program length commercials be regulated under FCC standards. The complaint has spurred some action, both at the FCC and network headquarters. Congress could also become involved in the issue.
Publication Name: Business and Society Review
- Abstracts: Workers on the wrong side of the track: down the backstretch at Arlington International Racecourse. Management's soft side
- Abstracts: Tax policy and feminism: competing goals and institutional choices. The international human rights of the child: do they protect the female child?
- Abstracts: Presidential rhetoric on crime and public opinion. A malleable balance of market practices and fairness constraints
- Abstracts: Two-step stock acquisitions and reverse subsidiary mergers. Beware of AMT on incentive stock options. New safe harbor promotes reverse exchanges
- Abstracts: Dump it here, I need the money: restoration damages for temporary injury to real property held for personal use