June 2013 archive

Federal Circuit leaves large damage award stand

The Federal Circuit affirmed a $391 million damage award in Versata Software, Inc. v. SAPAmerica, Inc., No. 2012-1029, -1049 (Fed. Cir. May 1, 2013). In reviewing the damage portion of the ruling, one cannot help but wonder about the damages calculation strategy that the defendant employed. The Federal Circuit summarized the parties and the infringement …

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Time to start teaching basic personal finance in high schools

A recent survey discussed here found that a surprising number of college graduates regret their decision to attend college. Not that it wasn’t lots of fun. Plenty of that. Not that lectures lacked stimulating learning. Ample stimulation. It was all good, just obscenely overpriced. The world has no shortage of buyer’s remorse. But typically the …

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Financial Literacy Continues to be an Obstacle

The ability to understand basic financial concepts such as interest (simple and compound), residential mortgages, and inflation is essential for achieving financial well-being. Without an appreciation of the power of compound interest, for example, people are likely to make poor financial decisions such as under-saving for retirement and amassing high-interest debt. FINRA Investor Education Foundation …

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Will Amazon Succeed in Groceries?

Reuters and others are reporting that Amazon will within days be launching the Amazon Fresh grocery delivery service in Southern California, to be followed closely by Northern California.  The service will use Amazon’s two new warehouses and deliver using Amazon-branded vehicles.  Amazon Fresh has been operating as an experiment for the last five years with …

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AICPA issues Financial Reporting Framework for Small and Medium Sized Entities

The AICPA has issued a new Financial Reporting Framework (“FFR”) for Small and Medium Sized Entities (“SMEs).  These smaller enterprises are often not required to prepare financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”).  Yet all financial statements are presented in accordance with some financial reporting framework, however defined.  This new FFR provides …

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War Exit Strategy in the Middle East vs. Government Contracting Practices

The largest US government contract is coming to an end, and not without a requisite pass through the US court system. To some, it might be surprising that the dispute is not one involving allegations of false claims under the Federal False Claims Act, but instead over the terms of the contract closeout. The $38 …

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U.S. Still No. 1 in Income and Housing

The U.S. has been enduring its fair share of criticisms, with government entities going broke and facing significant cuts, the education system declining, high unemployment rates, and the political system being the ridiculed.  Recently, the Organization for Economic Cooperation and Development (OECD) released its 2013 “better life index”.  The survey covers 34 countries and ranks …

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Federal Circuit Reiterates Reasonable Royalty Principles

The Federal Circuit in re: Douglas Dynamics, LLC v. Buyers Product Company (Fed. Cir. May 21, 2013) provides reminders of how reasonable royalty damages must be calculated, and then remanded the damages verdict for retrial. The Federal Circuit succinctly summarized the parties and their products as follows: “Douglas and Buyers both manufacture snowplow assemblies for …

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Recent PCOAB compromise with China is a far cry from what is needed

The Public Company Accounting Oversight Board (PCAOB) announced on May 4 that it entered into a Memorandum of Understanding (MOU) with the China Securities Regulatory Commission (CSRC) and the Ministry of Finance (MOF). The announcements described the agreement as follows: “The MOU establishes a cooperative framework between the parties for the production and exchange of …

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Top Ten Reasons to Be Optimistic About Housing

The California Association of Realtors (C.A.R) recently published the “Top Ten Reasons: To be optimistic about the housing market”.  The following are the ten reasons: Home values have been rising. More new households are forming. Foreclosure starts are falling into pre-housing-bust levels. Interest rates should remain low through next year’s selling season. Loan demand for …

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