Thursday, July 24, 2003

SUSCINCT DESCRIPTION OF THE ECONOMY FROM ias 39: Deal activity is about where it was in 1995. Investment bankers are significantly overstaffed compared to then; it's a safe bet corporate attorneys are overstaffed as well. And as for a pick-up in deals to boom levels. Heh, heh, heh. Post-WWII recessions other than this one hadn't lasted too long because they were caused by inflation rather than overinvestment. Recessions due to overinvestment take longer to work out of the system. The employment picture is even worse because there is a structural movement of jobs abroad. Financial services jobs in the US are already targeted, and a fair number of legal research jobs (at least outside big law firms) are probably next. 9:37:56 PM    comment []

USPTO FEE BILL TIED TO CONTROVERSIAL FCC PROVISION AND MAY BE VETOED! USPTO FEES AND FUNDING : Yesterday the House of Representatives passed the annual appropriations bill for the Departments of Commerce, Justice, and State, containing 2004 funding of $1.24 billion for the USPTO. The White House threatened a Presidential veto because of a provision relating to the Federal Communications Commission. 9:08:26 PM    comment []

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