features
Battalion/Page 15
October 27, 1982
ew law fields evolve
Mass.,
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iite
I United Press International
the loKdsi" NKW YORK — Two new
' 'ptriy in thecatali .WsoPspecialization, involving
K'lfsi priced proper Ah things as shareholder rela-
1 t ' s di Hilo, Hawaii i onsand representation of non-
fofit trade associations, are de-
ftinerMromistiiep, do|)ing for lawyers * n l * ie ^ us *'
*’reviews Int., a ( ^s world.
sc< * real estate cor M aw y ers nhvays have special-
has l)een neeotilB^ 111 usua ^y i" such brttad
^t*t (le u | s Jn resjjfjjB as corporate law, t ritninal
tround the ;' 1 ^|l ax l avv . divorce or labor
iw.The new specialties are nar-
“I ’p until the spir ™ er but tlie > ,erKl to take ”P
»r we were not it RPttorneys’ full time so the
■* economy," he saidB 5 ^ 0< firms
'i'iM! earn was badl*iiB|M, liekl is ^<,1 R 1 t ‘ al ■
' in thetopendoftlie«ff toclcholdei rela,1<)ns m '
only in recent n 1*$ chiefly filing suits on be
ne has been a slnwd,' al5 ishareholders who believe
'll somebody buvsiS^ 6 been lreated ,)adlv b >
'hey’re buying»W7 ent w . ..
asure — butalsoai 1 M ,elv y n Uciss ol X,llber b r -
estment — andwn Ve l s> Bersh . ad & s l>e‘I'tlu te,
itll offices in New V'ork and
an Diego, says about 35 law
off of
re's more of a
lode," he said.
IBs in the country specialize in
bis field. He said all big law
firms are learning they have to
specialize in something if they
are going to stay competitive.
Weiss said stockholder suits
have multiplied tremendously
in recent years for a number of
reasons:
• The great wave of mergers
and takeovers inevitably has
caused much shareholder un
happiness.
• There is a growing trend
towards “freezeouts.” Manage
ment and insider groups want to
make a public company private
or reduce the number of share
holders and want to accomplish
this at bargain prices. Suspicious
minority shareholders band
together to sue the manage
ment.
• Stockholders are better edu
cated than they used to be and
are much more aware of man
agement shenanigans at their
expense.
• Stockholder resentment at
management and accountants’
efforts to make management’s
performance look better in the
financial reports than it really is.
Shareholders hire a lawyer to
bring out the truth and perhaps
compel management changes.
• In hard times like the pre
sent, bankruptcies increase and
stockholders always fear they
are going to get the short end of
the stick, so they seek legal
advice to protect their interests.
Weiss said a measure of the
growth of this field is that its new
San Diego office already has 10
lawyers specializing in it.
Robert Auerbach, a New
York specialist representing
non-profit trade associations,
says this field also is growing
rapidly.
He said only about 20 law
firms are specializing in it full
time so far. They are based
mostly in Washington, D.C. and
New York.
Auerbach represents 11 asso
ciations ranging in products and
services from nuclear medicine
to luggage. He said non-profit
groups that need legal services
also include hospitals, schools
and civic groups.
The one thing all non-profit
organizations have in common is
exemption from income tax,
Auerbach said, so the big job of
the lawyer representing them is
to restrain them from doing
anything that might jeopardize
their tax-exempt status.
11 also is easy for trade associa
tions to run afoul of the antitrust
laws, and there are other traps in
federal and state laws regulating
lobbying and participation in
political campaigns.
Auerbach said even such
routine matters as negotiating a
hotel for a convention can in
volve legal and liability pitfalls
for the nonprofit organization.
Auerbach said this is a fertile
field for lawyers and thinks
more firms will acquire the ex
pertise necessary to get into it.
Businessmen retain
hope for Mexico
United Press International
MEXICO CITY — Despite
the hard times of Mexico’s eco
nomic crisis, most Mexican busi
nessmen retain a faith the nation
will solve its problems — as long
as the government resists gob
bling up more of the economy.
Businessmen are concerned
that 40 percent of the parts they
need to run the nation’s industry
are imported, and that process
of international trade is slowly
grinding to a halt in the absence
of foreign exchange.
Mexico has a foreign debt of
$81 billion, the world’s largest,
and no longer has enough hard
currency to repay its loans.
Many people, including those
in government, expect the reces
sion to deepen before signs of
improvement are seen, but
HEALTH & BEAUTY/UPS
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TURKEY HAMS. „ l 59
DECKER QUALITY JUMBO BEEF
16 OZ. $*59
CHLORASEPTIC
OLD VILLAGE REGULAR OR BEEF
ooii rB®***
UICE
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PORTION
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• O O O PKG.
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YOUNG MEN
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VICKS
Vapo Rub .^r'I 99
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LIQUID COLO MEDICINE DURATION
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COVER GIRL, ALL POPULAR SHADES
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■AT 13 HOUSTON LOCATIONS
WELFARE WE WELCOME
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W* accopt a full lln« of Insuranco plan* for your convonlanc*. and all Cos*
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standard footuros.
•PERSONAL SERVICE'QUALITY GENERICS
Blue Cross •TRANSFER SERVICE*EVERYDAY LOW PRICES
there is considerable disagree
ment on what course to follow.
“Every day, public spending
is rising,” said Juan Antonio
Alduncin, a factory owner and
adviser to the Confederation of
Industrial Chambers, a busi
nessman’s group. “Every day,
the state is participating more
and more in the economy.
“The government can’t cut
costs until it stops its monster
subsidies such as the subway,
which costs only 1 peso a ride
(about 1.3 cents) while its true
cost is more like 15 pesos,”
Alduncin said.
“The government listens to
us businessmen but doesn’t fol
low our suggestions,” Alduncin
added. “The facts have demons
trated who is right. If the gov
ernment were acting correctly,
we would be in good shape.”
fose Canal Escalante, senior
vice president of the Bank of
America in Mexico, said (he na
tion will "face a serious crisis for
at least a year.”
ilr☆ A ☆☆★★★★★★★ 4r
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<1 off adult ticket
1st Matinee
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Tue-family night M.E. Ill
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He said the incoming govern
ment of Miguel de la Madrid,
who will become president Dec.
1, must cut the budget, restrict
imports, reform tax regulations
and control inflation, which
could hit 100 percent this year.
“These will create uncom
fortable conditions for the peo
ple,” Carral said. “We have nev
er had them before in Mexico.”
One economist offered a
more pessimistic view of the ex
change controls imposed in an •
attempt to halt the flight of
capital, calling them “totally un
realistic” and “obviously danger
ous” to the nation.
“Trying to seal borders
against imports has never work
ed,” he said.
Alduncin said the govern
ment must sell a lot of its
businesses to the private sector
in order to revitalize the eco
nomy.
One businessman’s group
said the government took over
interests in 35 percent of the
economy when it nationalized
private banks and the stocks
they owned.
The government already
owned, besides vital industries
such as the state-owned oil com
pany and railroads, such diverse
businesses as restaurants, night
clubs and a bicycle factory.
“They must open country to
foreign capital. We need new
blood here,” Alduncin said. “If
the new government does this,
this country will pick itself up
within three years.”
But even Alduncin expressed
pride in the Mexican model, in
which the Institutional Revolu
tionary Party has governed for
the past 53 years by balancing ,
labor, agricultural and middle
class movements.
i
“We have our own system,”
he said. “It is unique. We are not
of the extreme left or the ex
treme right.”
One Mexican businessman,
who requested anonymity, said,
“Mexico is still a wealthy coun
try. There has been an over
exaggeration of our problems.”
Although de la Madrid has
not yet spelled out his program
for economic recovery, this busi
nessman was sure his decisions
would not be “leftist decisions.”
Mother *
Lode (PG) ^
7:15-9:40 »
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tudem
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A^GIE CINFMA
P R E
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I think ‘All The President’s Men’ would be a sure winned’
Gene Shot it, NBC-TV
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