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Tip
Sheet: Business, Law & Economics Tip sheets highlight timely news and events at Washington University in St. Louis. For more information on any of the stories below or for assistance in arranging interviews, please see the contact information listed with each story. For comments on the Business, Law & Economics news tips service, please contact the editor, Robert Batterson at (314) 935-5202 or batterson@olin.wustl.edu. September News Tips
Sept. 11 impact on U.S. immigration policy is far-reaching Since Sept. 11, the debates surrounding immigration have dramatically changed. Rather than focusing on jobs, taxes, welfare, or race, immigration policy discussions are centered on national security. "Never has there been a time when counterterrorism has so monopolized public decisionmaking in this vital area," says Stephen H. Legomsky, J.D., D.Phil., the Charles F. Nagel Professor of International and Comparative Law at Washington University in St. Louis and an internationally recognized expert on immigration and refugee law and policy. Legomsky notes that new U.S. government decisions in the area of immigration, such as the creation of the Department of Homeland Security and increased use of racial profiling and detention, have put the individual liberties of U.S. citizens, immigrants, students and refugees at risk. More info Investors Undervalue Options May represent a transfer of wealth from long-term to short-term shareholders, says Washington University research Amid sweeping corporate reform measures that were recently signed into law, much discussion has focused on how employee stock options should be treated in corporate earnings. Todd Milbourn, Ph.D., a professor of finance at the John M. Olin School of Business at Washington University in St. Louis says that the stock market seems to value companies taking existing earnings reports "at face value." So investors are surprised when option dilution comes along. Milbourn also finds that the aggressive use of employee stock options may represent a transfer of wealth from long-term to short-term shareholders. More info Top Teams
A survey of 44 business unit management teams in a Fortune 100 consumer products company revealed that "generalists" make up better management teams than "specialists." The research by J. Stuart Bunderson, Ph.D., a professor of organizational behavior at the John M. Olin School of Business at Washington University in St. Louis, will soon be published in a paper in the Academy of Management Journal. Bunderson is available to comment. More info Environmental Lawsuit
In a lawsuit filed in the U.S. District Court of San Francisco, Friends of the Earth, Greenpeace and the city of Boulder, Colo., are suing the Overseas Private Investment Corporation (OPIC) and the Export-Import Bank of the United States (Ex-Im) for allegedly providing illegal funding for international fossil fuel projects that are causing global warming-related impacts on U.S. citizens. "The issue at the center of this lawsuit is whether the National Environmental Policy Act (NEPA) can apply to activities overseas," says Daniel Mandelker, the Howard A. Stamper Professor of Law at Washington University in St. Louis, a pioneer in the teaching of environmental law and the author of the widely used treatise, NEPA Law and Litigation. "I think a good case can be made by the environmentalists," he says. Mandelker is available to comment. More info
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