Key Economic & Geopolitical Themes To Monitor In 2024
January 16, 2024 —
Global Insights Center Staff - The HartfordSlowing US Economic Growth and Flattening Interest Rates
Growth in the first half of 2023 averaged approximately 2.0%, driven mainly by private sector investments outside of the residential housing sector, government spending, and strong consumer demand. In 2024, The Hartford’s Global Insights Center is expecting investments and government spending to continue and may support growth in the year. However, consumer health may start to weaken due to elevated leverage, higher interest rates, and sticky inflation.
Since the Federal Reserve began to increase interest rates, consumer activity and household finances have not been tremendously affected. However, as revolving interest rates (credit card loans) continue to reset that may change, especially since household savings rates fell below pre-pandemic levels and may affect consumer demand.
Read the court decisionRead the full story...Reprinted courtesy of
Global Insights Center Staff, The Hartford
Update: Lawyers Can Be Bound to Confidentiality Provision in Settlement Agreement
January 13, 2020 —
Danielle Ward, Esq. - Balestreri Potocki & HolmesIn July 2019, the California Supreme Court ruled that an attorney’s signature under the often-used phrase “approved as to form and content” does not preclude a finding that the attorney could be bound to the terms of a settlement agreement. (Monster Energy Co. v. Schechter (2019) 7 Cal.5th 781.) This decision marks a reversal of the Fourth District Court of Appeal’s 2018 ruling that approval of a contract is not tantamount to an agreement to be bound by that contract.
The underlying action stemmed out of a wrongful death suit by Wendy Crossland and Richard Fournier, parents of the decedent, against Monster Energy Company. The parties negotiated a settlement, a critical of element of which was a confidentiality provision aimed at keeping the the settlement secret.
The confidentiality provision prohibited plaintiffs and their counsel of record from disclosing both the existence of the settlement, or the terms thereof, to any person, entity, or publication, including the legal website Lawyers & Settlements. The attorneys signed the agreement under the phrase “approved as to form and content.”
Shortly after the settlement agreement was executed, the Plaintiffs’ attorney Bruce Schechter disclosed his clients’ settlement with Monster in an interview with Lawyers & Settlements. Monster filed suit against Mr. Schechter for breach of contract, among other causes of action. Mr. Schechter challenged the lawsuit with a SLAPP motion, essentially arguing that the lawsuit was meritless and merely an attempt to thwart freedom of speech.
The trial court denied Mr. Schechter’s motion as to the breach of contract cause of action finding that the settlement clearly contemplated that the attorneys were subjected to the terms of the agreement, and Schechter’s claim that he was not a party because he merely approved as to form and content was “beyond reason.”
The Fourth District Court of Appeal reversed, concluding that Mr. Schechter was not a party to the agreement by virtue of his signature approving the form and content, and the Plaintiffs had no authority to bind their attorney to the terms of the agreement. The Court of Appeal found that by affixing his signature to the agreement Mr. Schechter was merely manifesting his “professional thumbs up” in line with legal industry’s customary understanding.
In its reversal, the California Supreme Court did not disturb the legal community’s understanding of the phrase “approved as to form and content.” Rather, the Court concluded that an attorney’s signature under that often-used phrase does not preclude as a matter of law that the attorney intended to be bound by the agreement. The entire agreement, including the substantive provisions, need to be examined to determine the attorney’s intent in affixing his/her signature to the agreement.
Turning to the Crossland/Fournier Monster settlement agreement, the Court was unpersuaded by Mr. Schechter’s argument that he was not bound to the agreement because counsel was not included in the definition of “party”. The Court stated that it’s the substance of the agreement that determines whether counsel is a party to the contract, as opposed to a party to the lawsuit.
The Court was persuaded, in part, by the important role that confidentiality plays in brokering settlements. It noted that public disclosure of private settlements would serve to “chill” parties’ ability to resolve matters short of trial, and there was little doubt that confidentiality was an important term of the Crossland/Fournier Monster settlement. In concluding that Monster had met its burden to defeat an anti-SLAPP motion, the Court pointed to the numerous references to counsel in the substantive provisions of the agreement which a trier of fact could conclude bound Mr. Schechter to the confidentiality terms.
Danielle Ward has concentrated her law practice on defending developer, general contractor, and subcontractor clients in a variety of construction matters. She has been an attorney with Balestreri Potocki & Holmes since 2010 and can be reached at dward@bph-law.com.
Read the court decisionRead the full story...Reprinted courtesy of
Construction Worker Falls to His Death at Kyle Field
January 15, 2014 —
Melissa Zaya-CDJ STAFFThe family of Angel Garcia, a construction worker who fell to his death while working on Texas A&M’s football stadium (Kyle Field), has filed a $100 million lawsuit against six construction companies claiming inadequate safety policies, procedures, and negligence, Jordan Overturf of The Eagle reported.
According to The Eagle, Garcia’s attorneys alleged, “[Garcia] was ‘catapulted off the edge of a fourth-floor ramp’ on the northeast side when a section of concrete fell onto the bucket of the skid steer-loader he was operating. The tractor hit a steel beam during the fall, which exerted enough force to eject Garcia from the tractor.” Garcia did not survive his injuries. The complaint claims the companies involved violated the Occupational Safety and Health Administration rules and regulations. The defendants in the suit were unavailable for comment, according to The Eagle.
Read the court decisionRead the full story...Reprinted courtesy of
Traub Lieberman Attorneys Recognized as 2023 New York – Metro Super Lawyers® and Rising Stars
October 24, 2023 —
Traub LiebermanTraub Lieberman is pleased to announce that seven Partners from the Hawthorne, NY Office have been selected to the 2023 New York - Metro Super Lawyers list. In addition, one associate has been named to the 2023 Super Lawyers Rising Stars list.
2023 New York – Metro Super Lawyers
2023 New York – Metro Super Lawyers Rising Stars
Read the court decisionRead the full story...Reprinted courtesy of
Traub Lieberman
Milhouse Engineering and Construction, Inc. Named 2022 A/E/C Building a Better World Award Winner
September 12, 2022 —
Milhouse Engineering and Construction, Inc.CHICAGO, IL, Sept. 07, 2022 (GLOBE NEWSWIRE) -- PSMJ has awarded Milhouse Engineering and Construction, Inc. (Milhouse) their 2022 Building a Better World award. This recognition is given to a firm in the Architecture, Engineering, and Construction industries that significantly and positively impacts the communities they serve. This highly regarded award is chosen by a panel of industry visionaries and leaders based on the impact and nature of the activities completed by the organization.
"Firms nominated for an A/E/C Building a Better World Award come in all sizes, from less than 10 architects to over 10,000 civil engineers. What they share is a realization that giving time and resources to those less fortunate is the right thing to do. And more and more, the most sought-after candidates for open positions are judging firms on their level of corporate social responsibility," says Frank A. Stasiowski, FAIA, Founder and CEO of PSMJ Resources, Inc.
In 2012, Milhouse established
Milhouse Charities, the 501c3 non-profit arm of the Milhouse family of companies. Milhouse Charities supports the Milhouse vision "to be a positive impact" by supporting the education, exposure and advancement of underrepresented youth and minorities in science, technology, engineering and math (STEM). Since its founding in 2012, Milhouse Charities has invested over $1 Million and 7,000 hours of community service into STEM, resource, and mentorship programs. The organization has made a global impact having done service in Illinois, Indiana, Pennsylvania, New York, Atlanta, and throughout Africa.
About Milhouse Engineering and Construction, Inc.
Milhouse Engineering and Construction, Inc. is a full-service engineering firm offering expertise in civil, mechanical, electrical, structural and environmental engineering, as well as construction and program management. We deliver creative solutions to complex problems around the globe. Driven by our diverse perspectives, we challenge the status quo to pursue a brighter future for the communities we serve. Milhouse has been named a 'Best & Brightest Companies to Work For' for 17 years in a row and is ranked as an 'ENR Top 500 Design Firm'. Follow us on
LinkedIn and
Facebook.
Read the court decisionRead the full story...Reprinted courtesy of
Business Insurance Names Rachel Hudgins Among 2024 Break Out Award Winners
April 22, 2024 —
Hunton Insurance Recovery BlogWe are pleased to announce that counsel
Rachel E. Hudgins has been recognized as one of Business Insurance’s 2024 Break Out Award winners. The magazine’s Break Out Awards honor 40 top professionals each year from a competitive field of nominees who have under 15 years’ experience in the insurance and risk management sector and are “on track to be the next leaders in the risk management and property/casualty insurance field.”
Clients describe Rachel as their “chief contact for high-exposure coverage work.” She meets clients where they are with a curiosity and interest in their business strategies, as well as an ability to distill complex insurance concepts into digestible terms. Rachel also has depth of experience in coverage litigation. She has litigated hundreds of insurance coverage and bad faith claims in state and federal courts across the country and US territories.
Read the court decisionRead the full story...Reprinted courtesy of
Hunton Andrews Kurth LLP
Trade Contract Revisions to Address COVID-19
August 23, 2021 —
David R. Cook Jr. - Autry, Hall & Cook, LLPMany trade contracts contain a clause that may protect trade contractors from catastrophic events like pandemics. These clauses are known as force-majeure clauses (covering acts of God). They basically say if these unavoidable events happen, the contractor is relieved of its obligations to the extent of the impact.
However, many common industry forms have not been updated to specifically address COVID-19. (They may be waiting to see how the courts treat their existing language first.) So to ensure impacts from COVID-19 are covered, a trade contractor should consider expressly adding it to the force-majeure clause. See the example below.
Notably, typical force-majeure clauses do not say the trade contractor gets more money. So an escalation clause could be added to the force-majeure clause.
Read the court decisionRead the full story...Reprinted courtesy of
David R. Cook, Autry, Hall & Cook, LLPMr. Cook may be contacted at
cook@ahclaw.com
Home Improvement in U.S. Slowing or Still Intact -- Which Is It?
May 20, 2015 —
Anna-Louise Jackson – BloombergTwo indexes that gauge U.S. home-remodeling activity suggest a slower pace ahead. Wall Street seems to disagree.
Future market conditions measured by the National Association of Home Builders’ Remodeling Market Index fell to 55.4 in the three months ended March 31 from a record-high of 59.5 in the fourth quarter, data from the group showed Thursday. Similarly, a leading indicator of remodeling work created by Harvard University projects annual growth in home-improvement spending will slow to 2.9 percent by year end from a projected 6.5 percent in the first quarter.
While these measures suggest sluggishness, investors don’t seem to mind. Following a “relatively weak year” for renovations in 2014, “people are warming up to housing again,” said Mike Wood, an analyst in New York at Macquarie Group Ltd.
Read the court decisionRead the full story...Reprinted courtesy of
Anna-Louise Jackson, Bloomberg
