2010 Proceedings

2010 ALSB National Proceedings

Selected Refereed Papers Delivered at the 2010 ALSB Annual Conference
Richmond, Virginia

Editor’s Forward

The 85^th annual meeting of the Academy of Legal Studies in Business was held in August, 2010, in Richmond, VA. The papers published in these Proceedings were double blind reviewed by members of the Academy. Papers were recommended for publication based on the quality of the research and the relevance of the topic to the substantive areas or pedagogy of business law or legal studies.

Several papers merit special mention:

Outstanding Proceedings Paper: Betting on the Lives of Strangers: Life Settlements, STOLI, and Securitization by Susan Martin, Hofstra University

Distinguished Proceedings Paper: Corruption Constraints, the Financing Gap, and Corporate Governance: A View of the Business Ethics Glass Ceiling in the Middle East by Norman Bishara, University of Michigan

Distinguished Proceedings Paper: Aguinda v. ChevronTexaco: A Pyrrhic Victory for the Environment? by Lucien Dhooge, Georgia Tech

Outstanding Student Paper: Linking the Regulation of Business to Specific Market Structure: Deconstructing Three Cases to Demonstrate the Salience of ‘The Market’ in Court Decisions by Facundo Bouzat, Bowling Green State University

I would like to thank the reviewers for the 2010 ALSB Proceedings. Your time, your thoughtful comments and your good judgment make the Proceedings better every year. Your service to the Proceedings and to the authors is greatly appreciated by me and by all of your colleagues in the Academy.

Ronnie Cohen, J.D., LL.M.
Christopher Newport University
Newport News, VA
2010 ALSB Proceedings Editor

2010 Proceedings Reviewers

Eve Brown, Indiana University

Eric Chen, St. Joseph College

Tammy Cowart, University of Texas at Tyler

Shelly Grunsted, University of Oklahoma

Lori Harris-Ransom, Caldwell College

Ellen Harshman, St. Louis University

James Holloway, East Carolina University

Richard Hunter, Seton Hall University

Ernie King, University of Southern Mississippi

Avner Levin, Ryerson University

Virginia Maurer, University of Florida

James Morgan, California State University, Chico

Dana Muir, University of Michigan

Carol Nowicki, California State University, East Bay

Paula O’Callaghan, University of Maryland University College

Michael O’Hara, University of Nebraska, Omaha

David Orozco, Florida State University

Steven Park, Harvard University

Susan Park, Boise State University

Josh Perry, Indiana University

Cherie Sherman, Ramapo College of New Jersey

Charles Smith, California State University, Fullerton

Marcia Staff, University of North Texas

Adam Sulkowski, University of Massachusetts, Dartmouth

Gregory Tapis, Mississippi State University

Ronald Taylor, Metropolitan State College of Denver

Dale Thompson, University of St. Thomas

Burke Ward, Villanova School of Business

Stephen Yoder, University of Alabama, Birmingham

Index of Papers

A Decline of Corporate Social Responsibility in Corporate America Today by Winston Waters

Addressing the Incomplete Conceptualization and Operationalization of the Zone of Insolvency by Ilya Lipin and John Pearce

Aguinda v. ChevronTexaco: A Pyrrhic Victory for the Environment by Lucien Dhooge

Antitrust and the Bowl Championship Series by Nathaniel Grow

Betting on the Lives of Strangers: Life Settlements, STOLI, and Securitization by Susan Lorde Martin

Corruption Constraints, the Financing Gap, and Corporate Governance: A View of the Business Ethics Glass Ceiling in the Middle East by Norman Bishara

Drug Labeling Wars: The Eights Circuit and the Duty to Warn by Penny Herickhoff and Georgia Holmes

Forecasting the Future of Gene Patents after the ACLU’s Challenge: A ‘Myriad’ of Issues Regarding Patents of BRCA Genes by Donna Steslow

I Get By With a Little Help from My Friends: Solutions for the Recorded Music Industry by Denise Smith and James Thompson

Linking the Regulation of Business to Specific Market Structure: Deconstructing Three Cases to Demonstrate the Salience of ‘The Market’ in Court Decisions by Facundo Bouzat

Medical Bankruptcy Reform: A Fallacy of Composition by Robert Landry and Amy Landry

Paying for Daniel Webster: Legal and Ethical Implications of Advancement of Legal Fees in Criminal Proceedings by Regina Robson

Promoting Business Success through Proactive Contracting and Visualization by Gerlinde Berger-Walliser and Helena Haapio

Reaching Settlement by Pamela Gershuny, Charles McAllister and Carolyn Rainey

Rock ‘N’ Roll ‘N’ Legal Reasoning: Now Popular Music Illustrates the Common Law by Mark DeAngelis

Shareholder Primacy and the Business Judgment Rule: Arguments for Expanded Corporate Democracy by Robert Sprague and Aaron Lyttle

State Minimum Wage Laws in the Pacific Northwest and their Effect on Unemployment Rates by Debra Burke, Stephen Miler, and Joseph Long

Tackling the Meaning of Antitrust Law for NFL Teams by Larry Bumgardner

The Shocking Impact of Corporate Scandal on Directors’ and Officers’ Liability by Joan Gabel, Nancy Mansfield, Kathleen McCullough, and Stephen Fier

The Ten Minute Business Law Professor: Brevity and Substance in Teaching and Learning by Robert Miller

Who Gets Caught? Prosecutions for Financial Fraud by Cindy Schipani

[Cite as: 41 Acad. Legal Stud. In Bus. Nat’l Proc. ____ (2010)]

From Our Members

It was 1984. I had just finished my LL.M. at UGa. I had caught America like a disease, like an addiction. One of my Professors in the UGa Law School was aware of my subject areas here in the UK and introduced me to Lee Reed and Peter Shedd. I have attended every Annual Conference since Philadelphia – was that 1987? 1988? Thank you ALSB. Thank you for feeding my addiction.

Peter Shears - Plymouth University

The ALSB and its members were so supportive of me when I first joined as a tenure track faculty member. ALSBers gave me feedback on my work and gave me a number of great opportunities like participating in a Cornell Law Symposium or the Huber Hurst seminar to mention just a few. I have also developed some great friendships over the years which I really value. It is such a family friendly venue too and my husband and grown daughter have enjoyed attending many events. Thank you ALSB.

Beverley Earle - Bentley University

I came to my first ALSB meeting in 1982, the first year I taught Business Law, and I have been coming ever since. As a new professor coming out of the practice of law, I found it incredibly helpful to have a cadre of people I could call on to help me make the transition, and clue me in about research, writing and pedagogy. I found a warm and welcoming professional community of people doing exactly what I was doing and over the years, it has never ceased to be helpful, as well as remaining warm and welcoming to all.

I have taught Business Law for 30 years. Throughout that time ALSB has been a place to seek advice on new teaching techniques; share and receive feedback on research; learn from others’ presentations at the annual conference;and generally meet, greet and enjoy the comraderie of colleagues. In a phrase – ALSB provides the opportunity for ongoing professional growth. Thanks, ALSB!

Karen Morris - Monroe Community College, State University of New York

As a longstanding Chair (24 years) of a Department of Business Law with 13 full-time and 21 adjunct faculty members, ALSB has provided me with invaluable materials and support to help me in my constant efforts to educate and remind administrators and faculty from other business disciplines, as to the critical role and vitality of business law in a professional business education curriculum. It has also served as a fruitful source of meeting accomplished and notable colleagues who have graciously served as external reviewers of faculty scholarship for tenure and promotion decisions, and external reviewers of the department and its programs as well. All this is in addition to the general congenial and stimulating sharing of ideas and subjects of interest at our marvelous annual meetings and all year long through the ALSBH listserv.

Elliot Axelrod - Baruch College/City University of New York

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Nancy Lasher - The College of New Jersey

As the lone law professor in our College of Business, the ALSB provides me with a true sense of community, supplying invaluable feedback and opportunities to grow both professionally and intellectually.

Michael Katz - Delaware State University

2010 Proceedings

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