27 Jun

Dodd-Frank Whistleblower Rule Adopted by SEC Discourages Internal Reporting

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010, established a whistleblower incentive program requiring the Securities and Exchange commission to provide monetary awards to whistleblowers who come forward with information about the violation of federal securities laws, including violations of the Foreign Corrupt Practices Act (FCPA). The Act also prohibits employers from retaliating against those who provide information about securities violations.

The reward for providing information that leads to a successful enforcement action by the SEC which results in monetary sanctions over $1,000,000 can be 10% to 30% of the penalty paid. Read More

20 Jun

Brilliant Commentary on Lawyers and the Exercise of Free Speech as it Relates to the Rakofsky Fiasco

Joseph Rakofsky is still pursuing his lawsuit against the Internet. As expected, things are not going well for him in this matter. But he wants to continue nonetheless. His lawyer is withdrawing from the case. Rakofsky is not licensed to practice law in New York, where he filed his lawsuit. So while he can represent himself pro se, Rakofsky cannot represent his corporation, which is a party to the suit.

While responding to the nonsense of Rakofsky and his almost former attorney Richard Borzouye, Eric Turkewitz writes this brilliant commentary on why he and other defendants (mostly lawyer bloggers) think it’s important to write about clowns like Rakofsky: Read More

12 Jun

School Spending Per Child: Milwaukee Public Schools Versus Other Public Schools and Private Schools

I have written plenty about Milwaukee Public Schools and their failure to educate children, despite their out-of-control spending. Teachers and administrators always claim that more money is the answer to all their problems. And the money is for the children!!!

This is obviously not true: Read More

08 Jun

Finding Hidden Income in a Divorce or Child Support Case

This article was originally printed in the ABA Section of Family Law eNewsletter, Feb/March/April 2011.

When a divorce or a child support issue is looming, it’s amazing how a quickly a closely held business starts “losing money.” I use quotes because such a situation is so predictable. One party wants to protect her or his assets, and when there is a business involved, the motivation to hide money can be stronger than usual.

The types of businesses that can be prone to manipulation of the books include restaurants, retail stores, doctor or dentist offices, construction companies, auto dealerships, and law practices. This list isn’t exhaustive by any means, but it provides good examples of businesses at risk of financial maneuvering. Read More

06 Jun

Why Blogging is Better Than Twitter for Lawyers and Accountants

A couple of weeks ago, I wrote a post about my experience with Twitter, encouraging lawyers, accountants, and auditors to abandon the tool unless they had seen any specific business-related return on their time investment. Of course, for those who enjoy twitter as a social outlet, they should certainly tweet to their heart’s content. But for those attorneys and accountants who are interested in the business benefits of Twitter, I am encouraging them to stop wasting their time on Twitter if they haven’t seen benefits. (And unfortunately, the vast majority have not seen tangible business-building benefits, yet are holding on because they don’t know when to hang on just a little longer for the big payoff, or when to cut their losses and stop wasting time.)

The bottom line for me is that Twitter is ineffective in developing business for lawyer and auditor types. I understand Twitter well, and I know how to use it the “right way.” It’s just that even when doing so, there have been no measurable results for me. As I’ve stated previously, I wasn’t all that picky about what type of result needed to occur…. any sort of additional business from an existing or new customer, or a connection that led to some business…. any old result would do. And there were no results. Read More

03 Jun

What the Judge Really Said About Joseph Rakofsky and His Incompetence

The internets are all abuzz with the story of Joseph Rakofsky, young attorney with almost no experience, prone to inflating his credentials on his (now removed) web page, who is suing a large portion of the internets in what has been dubbed Rakofsky v Internet.

It all started when the Washington Post reported that the judge in a murder trial booted Joe Rakofsky as counsel for the defendant because he was so inept.  The story said Rakofsky’s incompetence was reason enough to grant a mistrial. The story was told over and over again by bloggers, and soon Joey was suing them all! Read More