Thursday News: Bankrupt-sea
"The ruling by Maui Circuit Judge Joseph Cardoza wrapped up — for now at least — a 2 1/2-year legal challenge that nearly scuttled the $250 million enterprise and ignited a bitter public debate that exposed deep geographic, racial, cultural and political divisions within the state."
[Image + more @ Sierra Club Maui. More news below]
Shifting wealth is such an ugly business, but it does keep the rich off the streets at night:
Marcia Coyle/NLJ: Will Subprime Crisis Be Impetus for Bankruptcy Reform by Congress?
"There is the sense in Congress that something needs to be done and it's likely to be some form of legislative development in the consumer credit area broadly," Lawless said. "Whether that takes the form of an arbitration bill, a mortgage bill or the Bankruptcy Code, the only people who know right now are those who sit around the table in Washington." [Via Law.com]
Dorothy Korber/sacbee: Raises for UC execs on hold
"We caught them trying to sneak it through," said an incensed Leland Yee, a state senator who authored a new law requiring the UC governing board to discuss such business in public. It takes effect Jan. 1."