The rise and rise of the princelings, the country’s revolutionary aristocracy

Economist: The rise and rise of the princelings, the country’s revolutionary aristocracy

 

“THERE are some sour and smelly literati these days who are utterly abominable,” a retired military officer reportedly told a recent gathering in Beijing. “They attack Chairman Mao and practise de-Maoification. We must fight to repel this reactionary counter-current.” At the time, two months ago, the colonel’s crusty words might have had the whiff of a bygone era. Today, amid a heavy crackdown on dissent, they sound cruelly prescient. Continue reading

何清涟:中国的反精英情绪从何而来?

何清涟

好几年以前,曾看到过有文章提到中国的中低层人士已经产生了反精英情绪,一看到精英阶层有人倒霉,网上一片叫好声音。我记住了这一观察,但反精英情绪强烈到什么程度,对此却并无切身感受。上个月末在推特上有关“精英”一词的争论,却让我深深感受到了这种情绪。 Continue reading

美国的董事责任保险

Directors and Officers Liability Insurance

By David Gische of Ross, Dixon & Bell, LLP

I.  Introduction

In recent years, directors and officers liability insurance has become a core component of corporate insurance. As many as 95% of Fortune 500 companies maintain directors and officers (“D&O”) liability insurance today. Furthermore, it has become a commonplace of the financial world that disappointed investors will charge corporations and their officers and directors with securities fraud whenever a company’s stock drops significantly in price. Studies indicate that the average settlement of securities fraud litigation in 1999 was greater than $8 million, with average defense costs exceeding $1 million. In light of these numbers, it should not be surprising that such litigation has become almost routine, and D&O liability insurance plays a large role in handling it. At the same time, the D&O insurance industry has become highly specialized and new products are constantly emerging to meet the needs of specific markets. This article will discuss the historic and current trends in the industry. In addition, this article will address some of the primary legal and coverage concerns that must be considered by underwriters, claims handlers, corporations and their executives, and the attorneys who represent them.

A.   History of D&O Insurance

In the 1930s, in the wake of the depression, Lloyd’s of London introduced coverage for corporate directors and officers. At the time, corporations were not permitted to indemnify their directors and officers. Joseph P. Monteleone & Nicholas J. Conca, Directors and Officers Indemnification and Liability Insurance: An Overview of Legal and Practical Issues, 51 Bus. Law 573, 574 (1996). However, directors and officers did not perceive a great risk, and the insurance did not sell. Well into the 1960s, the market for D&O coverage was negligible. In the 1940s and 1950s, courts, corporations and directors and officers began to see benefits to corporate indemnification and prompted state legislatures to enact laws permitting it. Then, during the 1960s changes in the interpretation of the securities laws created the realistic possibility that directors and officers themselves, and not only corporations, could face significant liability. See Roberta Romano, What Went Wrong with Directors’ and Officers’ Liability Insurance, 14 Del. J. Corp. L. 1, 21 & nn. 74-77 (1989). Insurers responded to these changes by reviving specialty coverage for the “personal financial protection” of directors and officers.

The historic focus on “personal financial protection” distinguished D&O insurance from other kinds of commercial insurance that cover identified areas of corporate risk. Insurers had defined corporate risks they would insure. General liability insurance provided corporate insurance for bodily injury or property damage claims; fidelity bonds afforded specified first-party coverage for losses corporations incur due to certain acts of their officers, directors, or employees. D&O coverage, on the other hand, was not intended to be corporate insurance, much less an attempt at general corporate insurance for liability caused the corporation by virtue of the acts of its directors and officers. In recent years, however, D&O coverage has undergone a number of changes. Continue reading

安守廉:《失而复得的律师职业:探询中国的法律职业主义》

Of Lawyers Lost and Found: Searching for Legal Professionalism in the People’s Republic of China

失而复得的律师职业:探询中国的法律职业主义

作者:安守廉 Alford, William P.

 

关心中国法律进步的美国学者和决策者们内心深处相信,若中国发展出一个与美国同出一辙的法律职业,一定是有意义的。这个想法异常深入人心,以至人们确实很少对此加以审视。发展法律职业被美国学者和决策者看作是毋庸置疑的好事,它的实现也只是时间问题而已。无论是出于一种理想主义认识、还是自私自利的想法、或是两者都有,这些美国人都认为律师会成为中国走向法治和市场化的先锋,有的人甚至把中国发展出自己的法律职业看作是走向政治自由化的关键。

你可以在美国的学术著作、策论文章里读到这些关于中国法律职业看法的隐藏假设。对这些假设,美国和海外的法学界未来需要详加审视。在这些假设给出的描述背后,其更深的假设是世界不可避免地走向同一特别是(很奇怪的是)和美国现状相似的同一。如随随便便接受这些假设,我们不仅不能对正在兴起的中国法律职业的地位有所了解,而且,在更广意义上,我们无法对中国法律发展及法律职业主义本身的局限性有有深入认识。这将会导致我们对中国可能的变革方式是怎样的产生毫无根据的某种期待,并且强化在我们这里本来已经过分膨胀的法律职业的历史重要性的观念。

 

本文包含三个部分。在第一部分,在简要介绍已有的对中国法律职业的描述之后,我试图以更加妥当的术语描述过去二十年里法律职业的发展及其现状。这部分使用了我在1993-2000年检对中国法律职业人士所做的访谈以及更传统的文献资料。第二部分意图解释学者和决策者们,特别是美国的学者和决策者们,为何对中国法律职业有如此重大的误解。我以为,问题不仅在于对中国法律职业的不当理解,更在于他们对本国的法律职业的错误认识。最后一个部分我提出了对我们认识中国法律发展和律师地位问题所面临的困难更多的想法。

本文全文PDF 下载:http://www.wcfia.harvard.edu/sites/default/files/680__LawyersLost.pdf

 

Can the US inflate out of crisis this time?

In the last century US has for several times inflated itself out of financial crisis. Will the same strategy work this time?

The unexpected commodity price drop seems to be a critical factor among many others that indicate the impossibility. The price drop may temporarily make it easier for FED to deal with the immediate problems, but in the long run it would substantially weaken the US dollar. The weakened dollar in turn will prevent US from using the same inflation strategy to deal with the crisis.

Read news on Oil Price Drop Leads PPI Decline.

吴革:河北禁律师协助索赔涉违宪

河北禁律师协助索赔涉违宪

【<大公报>记者杨清林北京二十二日电】

近日有律师界人士透露,河北省政府部门在三鹿毒奶事件遭公开揭露的早前
曾与律师界人士开会,要求律师不要受理三鹿奶粉事件受害者诉讼,“保持距
离”,导致河北省律师回避和拒绝受害者索赔的委托。中国全国律师协会宪法与
人权专业委员会主任吴革抨击当地政府如此行为违反了宪法精神,违反了《律师
法》,更是侵害了公民的基本权利。
Sanlu
吴革说,宪法规定,公民依法享有辩护权,他们有获得法律帮助的权利,河
北禁止律师为三鹿奶粉受害者诉讼的行为,不合乎宪法的精神,违反了宪法。

吴革指出,此举同时也违反了《律师法》,干扰了律师的正常执业。“律师
法明确规定了律师接受公民委托,代理诉讼的业务范围,他们不仅可以接受受害
人的委托,甚至死刑犯也可以委托律师为其辩护。” Continue reading

Between Baidu.com and Alibaba

[A report of Chinese newspaper Twenty First Century confirmed a rumor that Baidu.com was involved in covering up the Sanlu milk powder scandal. Alibaba, a Chinese B2B company, publicly accused baidu’s involvement.]

阿里巴巴发声明回应百度谴责
作者:盛超

经济观察报 记者 盛超 三鹿毒奶粉事件爆发后引起各方关注,9月16日晚些时候,阿里巴巴发布官方声明,在表达自己对此事件的态度同时,声明中还不具名指责某些同行为三鹿事件帮凶。

有消息人士指出,鉴于当天下午百度发表声明严厉谴责阿里巴巴集团在三鹿事件中故意传谣一事,可以认为阿里巴巴此次发布的声明是针对百度谴责的回应。声明中所提到的竞价排名、收取保护费、删除会员创造的相关帖子、打击网民的知情权等问题都明确指向国内某知名搜索引擎网站。

阿里巴巴声明

人命关天,选择我们应该做的。

作为中国互联网企业的重要一员,我们的责任在于让用户和社会公众了解真实的信息;我们的使命在于使每一个公民都拥有安全、放心的消费渠道。这是阿里巴巴集团的价值核心。

三鹿事件发生后,阿里巴巴集团第一时间通知商户,将涉及三鹿的产品下架并等待有关部门调查结果,并通过多种渠道告诉我们的用户和广大公众,我们做到了一个企业应尽的义务,我们将消费者的身心健康视为我们的社会责任,并将可能存在的威胁公诸于众。

三鹿奶粉事件,是一个非常恶劣的社会事件,作为全球最大的电子商务社区,无论是出于社区功能定位还是企业良知,都有必要跟进此事,更不会如某些企业那样删除会员创造的相关帖子,打击网民的知情权。我们将网民对某些信息善意的转发视为公众知情权的有效补充,并将之视为此事件之所以能够迅速引起有关方面重视并获得妥善处置的一个必要手段。同样,我们将之视为一个有责任的企业应尽的义务。
Continue reading

Xiao Xuehui: Plagiarism and the Dignity of Academia

为了学术的尊严
肖雪慧(西南民族大学)

几年前,有感于我国学界现状,笔者曾写了《剽窃者的天堂》一文。下“剽者天堂”的断语并非夸张。因为,不仅剽窃发生的范围广、频度高,而且这一学界耻辱兼公害很大程度上受到体制性保护,法律和道德在这个问题上也表现出异乎寻常的宽纵。近几年虽然经常有对剽窃的揭露和批评,但此种行为并没有收敛,事实是,低风险和高收益使得剽窃越来越肆无忌惮。即便如此,读罢《当代电影》2006年6期所刊吴迪先生的《学术规范与职业道德——电影研究中的抄袭与剽窃》(简称 “吴文”),仍然感到文章揭露的几起剽窃事件骇人听闻。①几本涉剽著作一路好运、有的甚至成为教材,则尤令人悲哀我国学术的现状、担忧我国学术的前景。 Continue reading