The Markit CDX North American Investment Grade Index, a
credit-default swaps benchmark that investors use to hedge
against losses or to speculate on creditworthiness, added 1.2
basis points to a mid-price of 72.1 basis points at 4 p.m. in
New York, according to prices compiled by Bloomberg. The gauge
has risen from a more than five-year low of 68.9 basis points on
May 7.

G-7 finance ministers started a two-day meeting in
Aylesbury, north of London, today to discuss global financial
issues ranging from Europe’s debt crisis to austerity policies.
They may not release a formal communique, a Canadian Finance
Department official said May 8. Investors are weighing the
abilities of central banks to stimulate global economic growth
amid years of interest-rate cuts and asset purchasing programs.

“If you want to consider whether easing is helping sustain
markets, then yes, it’s working,” Noel Hebert, chief investment
officer at Concannon Wealth Management, which oversees about
$250 million of assets from Bethlehem, Pennsylvania, said in a
telephone interview. “But it’s not doing anything for the real
economy. Investors know there’s a problem but nobody can respond
to them how they traditionally would because they can’t miss the
trade.”

Bond Sales

The credit-swaps index typically rises as investor
confidence deteriorates and falls as it improves. The contracts
pay the buyer face value if a borrower fails to meet its
obligations, less the value of the defaulted debt. A basis point
equals $1,000 annually on a contract protecting $10 million of
debt.

General Motors Co. (GM)’s finance unit and billionaire Warren Buffett’s Berkshire Hathaway Inc. (BRK/A) led dollar-denominated sales
of at least $42.1 billion this week, trailing $46.4 billion in
the previous period.

General Motors Financial Co. sold $2.5 billion in its first
issue in almost nine months while Berkshire Hathaway Finance
Corp. raised $1 billion in its second sale this year, according
to data compiled by Bloomberg.

Sales of investment-grade debentures declined to about
$30.9 billion from last week’s $39.8 billion, while offerings of
speculative-grade bonds reached at least $11.2 billion compared
with $6.6 billion in the previous period.

The risk premium on the Markit CDX North American High
Yield Index added 4.7 basis points to 350.2 basis points,
Bloomberg prices show.

Default Risk

The high-yield measure may be understating default risk,
John Lonski, chief economist of Moody’s Capital Markets Research
Group, wrote in a note yesterday, saying the index should be
“substantially higher” than the 337 basis points it reached
May 8, based on the outlook for default rates.

“The corporate credit market senses that central banks
will do whatever they can to prevent their respective economies
from stalling,” Lonski wrote. “Nevertheless, the rally in high
yield credit may abate soon in view of the flagging pace of
global expenditures, as well as the benign but less than
inspiring outlook for corporate credit quality.”

The average relative yield on speculative-grade, or junk-rated, debt tightened 1.8 basis points to 477 basis points,
Bloomberg data show. High-yield, high-risk debt is rated below
Baa3 by Moody’s Investors Service and less than BBB- at Standard
Poor’s.

To contact the reporter on this story:
Victoria Stilwell in New York at
vstilwell1@bloomberg.net

To contact the editor responsible for this story:
Alan Goldstein at
agoldstein5@bloomberg.net

April 24, 2013

Width)] –>

Nancy Pelosi, Democratic leader of the U.S. House of Representatives

Nancy Pelosi, Democratic leader of the U.S. House of Representatives, will deliver the commencement address for the 2013 graduating class of the University of California, Davis, School of Law.

Pelosi will speak to a gathering of law degree candidates, faculty, guests, administrators and UC Davis Chancellor Linda P.B. Katehi at the Robert and Margrit Mondavi Center for the Performing Arts on the UC Davis campus on Friday, May 17, at 4 p.m.

From 2007 to 2011, Pelosi served as speaker of the House, the only woman in American history to do so. She first made history in November 2002 when House Democrats elected her the first woman to lead a major political party in Congress. Pelosi has led House Democrats for a decade and previously served as House Democratic whip. Pelosi is focused on strengthening America’s middle class through job creation, reforming the political system to create clean campaigns and fair elections, enacting comprehensive immigration reform, and ensuring safety in America’s communities, neighborhoods and schools.

“I am delighted that Leader Pelosi has agreed to give the commencement address,” said Kevin R. Johnson, dean of UC Davis School of Law. “Our graduates will benefit greatly from hearing her perspective as a groundbreaking leader on the national stage. I want to thank Leader Pelosi for addressing the 45th graduating class at UC Davis School of Law as our graduates prepare to launch their legal careers. I know she will deliver a powerful and inspiring message.”

Previous commencement speakers at UC Davis School of Law include California Gov. Jerry Brown, former CIA Director and Secretary of Defense Leon Panetta, former U.S. Attorney General Janet Reno, former U.N. Ambassador and Energy Secretary Bill Richardson, Chief Justice of California Tani Cantil-Sakauye ’84, California Senate President pro Tem Darrell Steinberg ’84, and civil rights leader Coretta Scott King — the widow of Dr. Martin Luther King Jr., for whom the law school building is named.

About UC Davis School of Law

UC Davis School of Law welcomed its first entering class in 1966. Today, the School of Law — housed in Martin Luther King, Jr. Hall on the UC Davis campus — ranks among the country’s leading law schools, known for its outstanding ranking, small size, and dedicated faculty of internationally-renowned scholars. The law school’s mission is to be a nationally and internationally recognized leader in the development and dissemination of legal knowledge, as well as the training of students to become socially responsible lawyers committed to professional excellence and high ethical standards. Please visit http://www.law.ucdavis.edu to learn more about the excellent record of scholarship, teaching, and service at UC Davis School of Law.

About UC Davis

For more than 100 years, UC Davis has engaged in teaching, research and public service that matter to California and transform the world. Located close to the state capital, UC Davis has more than 33,000 students, more than 2,500 faculty and more than 21,000 staff, an annual research budget of nearly $750 million, a comprehensive health system and 13 specialized research centers. The university offers interdisciplinary graduate study and more than 100 undergraduate majors in four colleges — Agricultural and Environmental Sciences, Biological Sciences, Engineering, and Letters and Science. It also houses six professional schools — Education, Law, Management, Medicine, Veterinary Medicine and the Betty Irene Moore School of Nursing.

Media contact(s):

• Pamela Wu, School of Law, (530)754-7173, pcwu@ucdavis.edu
• Karen Nikos, UC Davis News Service, (530) 752-6101, kmnikos@ucdavis.edu

LOS ANGELES–(BUSINESS WIRE)–

The University of Tulsa College of Law and Concord Law School of Kaplan
University recently established an online Master
of Jurisprudence in Energy Law (MJEL) degree program. The program
was designed to meet the expressed desire of energy professionals to
gain a sophisticated knowledge of the laws and regulations that govern
the energy industry. Enrollment is open on a rolling basis, and courses
begin on August 26, 2013.

The MJEL program is the first of its kind in the United States. TU
College of Law Dean Janet Levit explains, “Several law schools offer
specialized curriculum in energy law for lawyers. This online Master of
Jurisprudence in Energy Law is available to professionals who would
benefit from a foundation in energy law. This program – available
exclusively online – is the first of its kind.”

This is the second Concord collaboration with The University of Tulsa
College of Law, the first being the online Master
of Jurisprudence in Indian Law (MJIL) degree established in 2010.
Stephen Burnett, vice president, Kaplan Legal Education, said,
“Increased accessibility to legal education is a significant part of
Concord’s mission. Bringing our uniquely-tailored legal education
platform to The University of Tulsa enables them to further expand their
online offerings and satisfy a growing demand for legal and regulatory
knowledge among energy professionals.”

About The University of Tulsa College of Law:

Nestled in one of the nation’s traditional energy centers in a state
rich in oil, natural gas, and wind resources, The
University of Tulsa College of Law has built its reputation as a
destination for energy law. In addition to energy, the college is also
the national leader in Native American law, one of only a few schools in
the nation to offer an LL.M. in Native American and Indigenous Law, and
the first to offer an online Master of Jurisprudence in Indian Law.

The University of Tulsa College of Law, a private law school with a
total enrollment of 350 students and a student to faculty ratio of 11:1,
provides an academically rigorous, yet congenial atmosphere with
opportunities for scholarship, leadership and faculty mentoring.
Students develop practical skills through participation with
student-driven legal journals, award-winning moot court teams, an
on-campus clinic, and pro bono program. In addition to unique
specialties in energy, environmental and Native American law, joint
interdisciplinary degrees include a JD/MBA and JD/MTAX. TU’s Mabee Legal
Information Center is recognized as one of the nation’s top university
law libraries. For more information on The University of Tulsa’s College
of Law, visit www.utulsa.edu/law.
For more information on the Master of Jurisprudence in Energy Law (MJEL)
visit www.energylawmj.com.

About Concord Law School

Concord
Law School is the nation’s premier provider of online law degrees.
Since opening its virtual doors in 1998, Concord has helped more than
1,600 graduates obtain their Juris
Doctor (JD) or Executive
Juris Doctor^SM (EJD) degree. Concord is accredited by the
Accrediting Commission of the Distance Education and Training Council, a
nationally recognized accrediting agency.

Concord Law School of Kaplan University is part of Kaplan Higher
Education, which serves more than 74,000 students through more than 70
campus-based schools across the United States and abroad. Kaplan Higher
Education is part of Kaplan, Inc., a leading international provider of
educational and career services for individuals, schools and businesses.
Kaplan, Inc. is a subsidiary of The Washington Post Company (WPO),
and its largest division. For more information, visit info.concordlawschool.edu.

“Increased accessibility to legal education is a significant part of
Concord’s mission. Bringing our uniquely-tailored legal education
platform to The University of Tulsa enables them to further expand their
online offerings and satisfy a growing demand for legal and regulatory
knowledge among energy professionals.”

The MJEL program is the first of its kind in the United States. TU
College of Law Dean Janet Levit explains, “Several law schools offer
specialized curriculum in energy law for lawyers. This online Master of
Jurisprudence in Energy Law is available to professionals who would
benefit from a foundation in energy law. This program – available
exclusively online – is the first of its kind.”

This is the second Concord collaboration with The University of Tulsa
College of Law, the first being the online Master
of Jurisprudence in Indian Law (MJIL) degree established in 2010.
Stephen Burnett, vice president, Kaplan Legal Education, said,
“Increased accessibility to legal education is a significant part of
Concord’s mission. Bringing our uniquely-tailored legal education
platform to The University of Tulsa enables them to further expand their
online offerings and satisfy a growing demand for legal and regulatory
knowledge among energy professionals.”

About The University of Tulsa College of Law:

Nestled in one of the nation’s traditional energy centers in a state
rich in oil, natural gas, and wind resources, The
University of Tulsa College of Law has built its reputation as a
destination for energy law. In addition to energy, the college is also
the national leader in Native American law, one of only a few schools in
the nation to offer an LL.M. in Native American and Indigenous Law, and
the first to offer an online Master of Jurisprudence in Indian Law.

The University of Tulsa College of Law, a private law school with a
total enrollment of 350 students and a student to faculty ratio of 11:1,
provides an academically rigorous, yet congenial atmosphere with
opportunities for scholarship, leadership and faculty mentoring.
Students develop practical skills through participation with
student-driven legal journals, award-winning moot court teams, an
on-campus clinic, and pro bono program. In addition to unique
specialties in energy, environmental and Native American law, joint
interdisciplinary degrees include a JD/MBA and JD/MTAX. TU’s Mabee Legal
Information Center is recognized as one of the nation’s top university
law libraries. For more information on The University of Tulsa’s College
of Law, visit www.utulsa.edu/law.
For more information on the Master of Jurisprudence in Energy Law (MJEL)
visit www.energylawmj.com.

About Concord Law School

Concord
Law School is the nation’s premier provider of online law degrees.
Since opening its virtual doors in 1998, Concord has helped more than
1,600 graduates obtain their Juris
Doctor (JD) or Executive
Juris Doctor^SM (EJD) degree. Concord is accredited by the
Accrediting Commission of the Distance Education and Training Council, a
nationally recognized accrediting agency.

Concord Law School of Kaplan University is part of Kaplan Higher
Education, which serves more than 74,000 students through more than 70
campus-based schools across the United States and abroad. Kaplan Higher
Education is part of Kaplan, Inc., a leading international provider of
educational and career services for individuals, schools and businesses.
Kaplan, Inc. is a subsidiary of The Washington Post Company (NYSE: WPO),
and its largest division. For more information, visit info.concordlawschool.edu.

But Judge James E. Boasberg raised concerns about that argument. Minutes after the hearing began, he referred to a sheaf of statistics demonstrating that most of the children affected by closures are slated to transfer to schools with higher test scores and more racial diversity than the schools they’re leaving behind.

“The whole purpose of going to school for these kids is to receive a good education, correct?” Boasberg said. “It seems to me that the schools they’re transferring into are a whole lot better.”

Lawyer Jamie Raskin, arguing on behalf of the five plaintiffs organized by community group Empower D.C., said Boasberg’s question sidestepped the central point of the lawsuit.

“The point is that having a neighborhood school is a precious public resource and a precious public benefit that we think should not be distributed along the lines of race and class,” said Raskin, a constitutional law professor and Democratic Maryland state senator.

Thirteen schools are slated to close in June and two more in 2014. The move will displace more than 2,700 children, almost all of whom are African American and Hispanic.

District attorneys on Friday denied that the closures are discriminatory, describing them as an effort to improve education across the city. Children have no constitutional right to a neighborhood school, they said, and having students move to a new school does not deprive them of services.

Henderson, who announced her intent to close the schools in January, has long said that the school system must close buildings left half-empty after four decades of declining enrollment. Under-enrolled schools are expensive and inefficient to operate, according to the chancellor, who was in the courtroom Friday but did not speak during the proceedings and declined to comment afterward.

Boasberg, whose brother is the superintendent of Denver Public Schools, asked the plaintiffs repeatedly to explain when a school system leader could ever legally close a school with a higher-than-average percentage of minority children.

Raskin said the problem is not the closing of individual schools, but a historical pattern of closing schools in poor and minority neighborhoods. Schools in affluent areas west of Rock Creek Park have been under-enrolled at times over the past several decades, he said, but the District did not close them.

Among the spectators watching the proceedings were many school-closure opponents who had rallied outside the courthouse before the hearing began. They erupted in emotion once, when Boasberg asked whether the plaintiffs’ lawyers believed that Henderson — who is African American — intended to discriminate against black and Hispanic children.

Yes!” the audience said.

Boasberg continued, asking whether the lawyers believed African American leaders in other cities where schools are closing, such as Philadelphia and Chicago, also intend to discriminate.

“Yes!” the audience said again, before the judge quieted the courtroom.

Raskin then stepped in, saying that plaintiffs are not accusing Henderson of racial hatred, but are highlighting a pattern of discrimination that grows out of the District’s history as a segregated city. That history is “now fundamentally impairing people’s ability to have an equal right to a neighborhood school,” he said.

Plaintiffs also said that the city failed to give proper notice of the closure plan to advisory neighborhood commissioners. Boasberg said he had concerns about whether plaintiffs had legal standing to sue on those grounds.

The judge said he would issue a decision on the preliminary injunction next week.

LOS ANGELES--(BUSINESS WIRE)--May 10, 2013-- 

The University of Tulsa College of Law and Concord Law School of Kaplan University recently established an online Master of Jurisprudence in Energy Law (MJEL) degree program. The program was designed to meet the expressed desire of energy professionals to gain a sophisticated knowledge of the laws and regulations that govern the energy industry. Enrollment is open on a rolling basis, and courses begin on August 26, 2013.

The MJEL program is the first of its kind in the United States. TU College of Law Dean Janet Levit explains, “Several law schools offer specialized curriculum in energy law for lawyers. This online Master of Jurisprudence in Energy Law is available to professionals who would benefit from a foundation in energy law. This program — available exclusively online — is the first of its kind.”

This is the second Concord collaboration with The University of Tulsa College of Law, the first being the online Master of Jurisprudence in Indian Law (MJIL) degree established in 2010. Stephen Burnett, vice president, Kaplan Legal Education, said, “Increased accessibility to legal education is a significant part of Concord’s mission. Bringing our uniquely-tailored legal education platform to The University of Tulsa enables them to further expand their online offerings and satisfy a growing demand for legal and regulatory knowledge among energy professionals.”

About The University of Tulsa College of Law:

Nestled in one of the nation’s traditional energy centers in a state rich in oil, natural gas, and wind resources, The University of Tulsa College of Law has built its reputation as a destination for energy law. In addition to energy, the college is also the national leader in Native American law, one of only a few schools in the nation to offer an LL.M. in Native American and Indigenous Law, and the first to offer an online Master of Jurisprudence in Indian Law.

The University of Tulsa College of Law, a private law school with a total enrollment of 350 students and a student to faculty ratio of 11:1, provides an academically rigorous, yet congenial atmosphere with opportunities for scholarship, leadership and faculty mentoring. Students develop practical skills through participation with student-driven legal journals, award-winning moot court teams, an on-campus clinic, and pro bono program. In addition to unique specialties in energy, environmental and Native American law, joint interdisciplinary degrees include a JD/MBA and JD/MTAX. TU’s Mabee Legal Information Center is recognized as one of the nation’s top university law libraries. For more information on The University of Tulsa’s College of Law, visit www.utulsa.edu/law. For more information on the Master of Jurisprudence in Energy Law (MJEL) visit www.energylawmj.com.

About Concord Law School

Concord Law School is the nation’s premier provider of online law degrees. Since opening its virtual doors in 1998, Concord has helped more than 1,600 graduates obtain their Juris Doctor (JD) or Executive Juris Doctor(SM) (EJD) degree. Concord is accredited by the Accrediting Commission of the Distance Education and Training Council, a nationally recognized accrediting agency.

Concord Law School of Kaplan University is part of Kaplan Higher Education, which serves more than 74,000 students through more than 70 campus-based schools across the United States and abroad. Kaplan Higher Education is part of Kaplan, Inc., a leading international provider of educational and career services for individuals, schools and businesses. Kaplan, Inc. is a subsidiary of The Washington Post Company (NYSE: WPO), and its largest division. For more information, visit info.concordlawschool.edu.

 
    CONTACT: The University of Tulsa College of Law 

Lou Ann Lissonnet

llissonnet@saxum.com

918.858.4680

 
    SOURCE: The University of Tulsa College of Law 
Copyright Business Wire 2013 
 

Republican state Rep. Joseph Graves, who represents parts of Genesee and Oakland counties, introduced legislation Thursday to force schools to post documents online proving they’re doing state-mandated emergency drills.

But Ted Quisenberry, head of the task force looking into broken laws and other problems found by MLive, said the legislation caught group members by surprise.

“We are reaching out today to say, ‘Hey this is what we’re doing. It might be in our best interest not to have two different methods going on to achieve the same thing. Why don’t you hold off on what you are proposing right now,’” said Quisenberry, Oakland County’s homeland security manager.

CODE RED: MICHIGAN’S SCHOOL SAFETY FLAWS

Here is an overview of MLive’s March investigation into how well schools are prepared for emergencies.

March 11: Corners cut, laws broken
• How is your school performing?
• Fewer fire drills and more lockdowns?

• Local reports: Ann Arbor, Bay City, Detroit, Flint, Grand Rapids, Jackson, Kalamazoo, Lansing, Muskegon, Saginaw.

• How the investigation was done; story summaries

• Full coverage: All stories in one place

March 12: Campus confusion
• How public are drill records?
• Schools or forts? Best practices

March 13: Do more guns equal safer schools?

March 14: Mental health: What can be done
• How would you improve safety?

Graves today said he was not aware of the task force’s efforts.

“Yes, I’d be more than happy to talk to them and to what their suggestions are. This is going to take time. This is Lansing. It’s going to move slow,” Graves said, adding he believes there is bipartisan support for his proposal.

An MLive investigation in March found widespread disregard by schools for laws requiring drills for fires, severe weather or armed threats. Reporters pulled records for more than 400 schools. The news organization found drills are routinely skipped or there is no proof they were done. Some schools did most of the 10 drills at the end of the school year, or all in one day.

Problems were identified in traditional public schools, as well as private and charter schools.

Quisenberry said his group is within a month of recommending a way to hold schools accountable by publically identifying violators, “almost like a scarlet letter if you will.” That would include greater roles by county emergency management coordinators in singling out scofflaws.

Quisenberry’s task force includes representatives from the state fire marshall, attorney general, state and local police, the Department of Education, and colleges and universities.

It is part of a larger group headed by the Michigan State Police, charged by Gov. Rick Snyder with offering safety recommendations after the massacre at Sandy Hook Elementary School in Newton, Conn.

View full size

Find out how to check drills records at your local schools.

Graves’ legislation seeks to hold schools accountable by letting parents supervise how well schools are following the law. Documents verifying that drills are done would have to be posted on schools’ websites within five business days, and remain there for three years. Now, schools can destroy them at the end of the school year.

Graves said his office took calls and emails after MLive’s investigation from concerned parents and others, including public school employees who said their drills “were a joke.” He said his office did its own school review, and also found problems.

House Speaker Jase Bolger harshly criticized schools soon after MLive’s investigation, and threatened legislation to enforce compliance.

Ari Adler, Bolger’s spokesman, said Graves’ effort was independent of Bolger, but that the leader of House Republicans was aware it was being offered.

State Rep. Joseph Graves 

“We don’t know all the details yet, but the concept is something we’d certainly support,” Adler said today. He did not see the legislation as premature, given the state task force’s ongoing efforts.

“Probably not,” Adler said. “You’re talking about something as basic as taking an existing report and providing it to parents online so they can see what’s going on.”

He noted state Rep. Lisa Lyons, who heads the House Education Committee that will review Grave’s proposal, early on said the problems uncovered by MLive are something parents should be working with local school boards on.

“This is a great opportunity for parents to get involved,” Adler said. “When you combine that with the request from Rep. Graves that provides parents a tool, that is certainly something people in our caucus would consider.”

Quisenberry is hopeful that consideration can be unified.

“Maybe the best solution is, before you propose anything, why don’t you see what we come up with and incorporate that, so there is one effort,” he said.

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