No Friday Night Lights at $60 Million Texas Stadium: Muni Credit
March 26, 2014 —
Darrell Preston and Aaron Kuriloff – BloombergPervasive cracking has shuttered the $60 million home of a high-school football championship team in Texas after less than two years. Investors in the tax-free bonds that paid for the stadium are unscathed.
Taxpayers in Allen Independent School District north of Dallas and the $29 billion Texas Permanent School Fund, a state bond insurer, are responsible for $119 million of debt that paid for the venue and other facilities, leading officials to find a new site for graduation and possibly games after closing 18,000-seat Eagle Stadium last month.
The development suggests the fund, created in 1854 to help pay for education, shouldn’t be used for stadiums, said Colby Harlow, president of hedge fund Harlow Capital Management. The Permanent Fund has top credit ratings and secures about $55 billion of bonds, according to the Texas Education Agency. The pool has at times reached the limit of debt it can back, preventing districts from accessing it. The guarantee is still a boon to bondholders.
Mr. Merelman may be contacted at smerelman@bloomberg.net; Mr. Sillup may be contacted at msillup@bloomberg.net
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Darrell Preston and Aaron Kuriloff, Bloomberg
Key Takeaways For Employers in the Aftermath of the Supreme Court’s Halt to OSHA’s Vax/Testing Mandate
January 24, 2022 —
Laura H. Corvo - White and Williams LLPPolitical pundits and legal scholars have been engaged in frenzied debate trying to decipher the fallout of the United States Supreme Court’s decision that stopped stopped the Occupational Safety and Hazard Administration (OSHA) from enforcing its Emergency Temporary Standard (ETS) which mandated that employers with 100 or more employees require workers to show proof of vaccination against COVID-19 or submit to weekly testing. The Court’s decision prevents OSHA from enforcing its ETS until all legal challenges have been heard. Because the Court concluded that those legal challenges are “likely to succeed on the merits” of their argument that OSHA does not have the statutory authority to issue its vaccine and testing mandates, there is significant doubt that they will ever come to fruition.
While the pundits and scholars have now had their say, employers, who are struggling to manage a highly contagious variant, a tight labor market, and employees with divergent and staunch views on vaccination, are also left wondering what the Court’s decision means for them and what they should be doing. Here are some key takeaways for employers in the aftermath of the Court’s decision.
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Laura H. Corvo, White and Williams LLPMs. Corvo may be contacted at
corvol@whiteandwilliams.com
Claims for Bad Faith and Punitive Damages Survive Insurer's Motion for Summary Judgment
August 02, 2017 —
Tred R. Eyerly - Insurance Law HawaiiThe court denied the insurer's motion for partial summary judgment seeking to dismiss claims for bad faith and for punitive damages. Van Der Weide v. Cincinnati Ins. Co., 2017 U.S. Dist. LEXIS 101735 (N.D. Iowa June 30, 2017).
The homeowner sued the insured general contractor after water was found leaking into the home, causing significant water damage. Cincinnati rejected the general contractor's tender and denied any duty to defend, contending that the alleged defects were discovered after Cincinnati's policy period had ended. Cincinnati was advised that two experts for the insured would testify that the property damage occurred due to construction defects and that the damage began shortly after completion of the home. Cincinnati still refused to defend.
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Tred R. Eyerly - Insurance Law HawaiiMr. Eyerly may be contacted at
te@hawaiilawyer.com
Global Emissions From Buildings, Construction Climb to Record Levels
November 28, 2022 —
Gautam Naik - BloombergCarbon-dioxide emissions from building construction and operations hit an all-time high in 2021, according to the most recent data, a sign that the push to decarbonize the industry by 2050 may be slipping out of reach.
Energy-related emissions from the operation of buildings reached 10 gigatonnes of CO2 equivalent, 5% higher than 2020 levels and 2% more than the pre-pandemic peak in 2019, according to data compiled by the Global Alliance for Buildings and Construction. Operational energy demand in buildings for heating, cooling, lighting and equipment rose about 4% from 2020 levels, the group said.
While investments in building energy efficiency increased 16% last year to $237 billion, the growth in floor space outpaced efficiency efforts. As a result, “the gap between the climate performance of the sector and the 2050 decarbonization pathway is widening,” the report concluded.
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Gautam Naik, Bloomberg
How SmartThings Wants to Automate Your Home
July 02, 2014 —
Beverley BevenFlorez-CDJ STAFFSmartThings, a U.S. start-up company, “has built a first-of-its-kind platform that allows the objects in your home–doors, locks, lightbulbs, even sprinkler systems–to talk to one another and prioritize your needs,” according to Time. The only requirements are a smartphone and a $200 starter kit.
Alex Hawkinson created SmartThings after he returned from a family vacation and discovered that pipes had burst, resulting in a $100,000 repair bill: “How is it possible that someone hasn’t created something I could plug in that would alert me when something went wrong?” Hawkinson commented to Time.
SmartThings got its start through Kickstarter (Ashton Kutcher was one of the investors), but is now a General Electric partner.
Time reported that there are “legitimate fears of cybercriminals commandeering your smart locks and cameras [that] have made people wary of making their homes potentially hackable.” Hawkinson stated that SmartThings has hired “white-hat hackers to continuously probe SmartThings’ technology and pinpoint vulnerabilities that must be fixed.”
“We’re at the outset of this wave where … your home can give you security, peace of mind and more,” Hawkinson told Time. “Eventually, everything that should be connected will be connected.”
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The Dog Ate My Exclusion! – Georgia Federal Court: No Reformation to Add Pollution Exclusion
September 28, 2017 —
Philip M. Brown-Wilusz - Saxe Doernberger & Vita, P.C.While schoolchildren know that the classic “the dog ate my homework” excuse doesn’t work, insurance companies are willing to try a variation of that excuse. Ace American Insurance Company (Ace), sold a property policy (the Policy) to Exide Technologies, Inc. (Exide). Exide sought coverage under the Policy for acid damage at its former battery factory. Ace denied coverage, citing to the pollution exclusion. The only problem? The Policy contained no pollution exclusion!
Exide had procured policies from other insurers for several years prior to the inception of the Policy, all of which contained pollution exclusions. Exide instructed Marsh USA Inc. (Marsh), its broker, to procure insurance “on the same or better terms and conditions.” The resulting policy contained no pollution exclusion, and Exide sought coverage under the Policy for pollution-related losses.
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Philip M. Brown-Wilusz, Saxe Doernberger & Vita, P.C.Mr. Brown-Wilusz may be contacted at
pbw@sdvlaw.com
Equipment Costs? It’s a Steal!
July 08, 2011 —
CDJ STAFFKCBD reports on the problems of a Lubbock, Texas contractor. It’s hard to do the job when your tools keep getting stolen. Corey Meadows, owner of Top Cut Interiors, told KCBD that he had chained an air compressor to a table saw. Since the thieves couldn’t cut the chain, they cut the table saw “and just took the air compressor and the chain.” Meadows estimates the thieves cost him $2,000 in damaged or stolen equipment and time lost.
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Don’t Waive Your Right to Arbitrate (Unless You Want To!)
October 19, 2017 —
David Adelstein - Florida Construction Legal UpdatesDoes your construction contract require you to arbitrate (instead of litigate) disputes arising out of the contract? If so, and you want to arbitrate, you do NOT want to do anything inconsistent or adverse with your right to arbitrate. Arbitration can be waived and you do not want arbitration to be waived if you believe this is the best forum to resolve your construction dispute. For instance, actively participating in a lawsuit through the prosecution or defense of issues in the lawsuit is certainly inconsistent with your right to arbitrate. This will result in a waiver of your right to compel arbitration.
In a non-construction dispute—a dispute involving a law firm and its former partner—the law firm sued the partner. Chaikin v. Parker Waichman LLP, 42 Fla. L. Weekly D2165b (Fla. 2d DCA 2017). There was a partnership agreement that required disputes to be resolved by arbitration. The law firm sued the partner claiming he violated a previously entered employment agreement that did not require arbitration. When the partner counterclaimed, the law firm claimed that the counterclaim must be compelled to arbitration because the counterclaim arose out of the partnership agreement that required arbitration. Guess what? The trial court actually compelled the counterclaim to arbitration! Crazy! Clearly, any employment agreement and partnership agreement were intertwined such that the dispute would involve the same set of facts and any claims would have a significant relationship to the partnership agreement.
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David Adelstein, Florida Construction Legal UpdatesMr. Adelstein may be contacted at
dadelstein@gmail.com