Energy Future Holdings has paid its lawyers and financial advisers about $600,000 a day for each and every one of the 827 days – including weekends and holidays – since it filed for bankruptcy in April 2014. The Texas Lawbook reviewed 450 federal court records and discovered that more than 380 business lawyers and more than 240 financial advisers have billed EFH thousands and thousands of hours for work they’ve done on the bankruptcy – some of them charging as much as $1,400 an hour. As a result, the Dallas power company bankruptcy is now one of the five most expensive corporate restructurings in U.S. history.

The U.S. Department of Labor recently finalized its controversial changes to federal overtime pay exemption rules under the Fair Labor Standards Act (FLSA). These changes are expected to affect approximately 1.2 million employees in Texas – more than any other state. Fisher & Phillips partner Michael V. Abcarian explains why and how general counsel should immediately begin working with employers to comply by the Dec. 1 deadline to implement the new policies, which will more than double the minimum salary needed to be exempt from overtime pay.

AT&T filed a “friend of the court” brief asking a California federal judge the court to vacate its order requiring Apple take extraordinary steps to assist the FBI in unlocking the iPhone used by one of the perpetrators of the San Bernardino shootings. In this case, the government seeks more than what can be supported under the law as it is written today. The solution is for Congress to pass new legislation that provides real clarity for citizens and companies alike.

There are many things I recall about beginning my legal career in Dallas. But one thing I remember clearly, from the very first day on the job, was the pervasive sentiment that an indispensable part of being a lawyer – a real lawyer committed to the craft and the profession – is helping those who need access to our courts. It reminds us of why we became lawyers, and it underscores the importance of serving others as zealously as we support our clients.

Kesselman takes over as the chief legal officer at Yum! on Feb. 1, where he will oversee a legal department of about 100 lawyers.

The Texas Open Carry law went into effect Jan 1. The law allows a concealed handgun license holder to openly carry a holstered handgun in a shoulder or belt strap in most public or private places without violating Texas’ general prohibition against carrying handguns. Employers need to know their rights in light of this game-changing law. The article is divided into sections concerning (1) notice and regulated notice to employees, (2) regulated notice to visitors, (3) prohibited places/activities for carrying handguns and (4) the role of alcohol for the CHL holder.

When global investment firm PIMCO named former American Airlines GC Gary Kennedy to its corporate board, it was joining a national trend of publicly-traded companies adding lawyers as directors. The develop reverses a decades-old policy of corporations of ignoring lawyers for board positions because attorneys are viewed as too risk-averse and too narrow in their professional focus. But former Texas GCs Charles Matthews, Scott Rozzell and Jennifer Vogel are setting a new trend.

The U.S. Patent and Trademark Office named Xerox Business Services Corporate Counsel Hope Shimabuku to be the first regional director of the agency’s newly-created Dallas office. A former lawyer at BlackBerry, Shimabuku will take office Jan. 4. She will be charged with building an office that will eventually include more than 100 examiners, judges, and outreach and administrative staff.

Wayne Watts retires this Wednesday as GC at AT&T. Watts revolutionized the position of corporate general counsel. He guided the phone company through dozens of mega-mergers with a combined value of nearly $300 billion. He single handedly forced law firms to add more women and minorities to their lawyer ranks.
In an extensive interview with The Texas Lawbook, Watts discusses why he became a lawyer, his 32 years at AT&T and why he handpicked David McAtee to secede him. Exxon Mobil GC Jack Balagia also dishes on Watts golf game. FYI: He hits the ball hard.

Wayne Watts retires this Wednesday as GC at AT&T. Watts revolutionized the position of corporate general counsel. He guided the phone company through dozens of mega-mergers with a combined value of nearly $300 billion. He single handedly forced law firms to add more women and minorities to their lawyer ranks.

In an extensive interview with The Texas Lawbook, Watts discusses why he became a lawyer, his 32 years at AT&T and why he handpicked David McAtee to secede him. Exxon Mobil GC Jack Balagia also dishes on Watts golf game. FYI: He hits the ball hard.