Winston Peters’ Gifts to Lawyers

Winston peters newshub lbu

John Bowie* – For a man who has contempt in equal part for big-business and the big-firm legal fraternity which supports it, Winston Peters has a funny way of showing it.

Announcing his decision to enter into coalition with Labour and consequently change the government, Mr Peters railed against capitalism. Winston’s view is that too many New Zealanders now see capitalism as their foe, and it was time, he has decided, for capitalism to regain its “human face”.

Against a backdrop of that braying Winston nonetheless retook his favoured ‘foe’, the racing portfolio, presumably with the intention of placing his face on what can be a selfish and unforgiving partner to a great many kiwis seeking its instant moolah.

Coherence and consistency aren’t high on the agenda.

And so, against Winston’s rhetoric, in steps the big law firms, and doubtless many in the provinces too, ready and waiting for the pandora’s box of promises to show up in their monthly billing.

Below are five key promises struck in the Labour-New Zealand First coalition agreement that will have lawyers lining up for a slice of the capitalist pie.

Feasibility study into moving the Ports of Auckland

The words “feasibility study” are synonymous with “going nowhere” in Wellington, but that doesn’t mean that there won’t be a deluge of work to be done in producing a study that satisfies Winston even if the Port remains for the foreseeable future as is.

Corporate lawyers will be examining how to split the port into an operating company and a land owning company as has been previously mooted by Mayor Goff.

Meantime property and resource management lawyers will be considering the practicality of stripping Auckland Council of ownership of the land, and all the while public lawyers in Wellington will be delivering the right messages to the Beehive on behalf of exporters, importers and a whole myriad of other special interests.

Regional Development (Provincial Growth) Fund

The coalition agreement simply declares that “large-scale capital projects” will be eligible to bid for money from this Fund.

Cue high powered lawyers, not to mention accountants and economic consultants barely containing their sweaty excitement as they dust off feasibility and economic reports, putting together proposals on behalf of aquaculture clients, regional airports and local infrastructure operators, all looking for a piece of the regional action. Key will be the criteria for access to the fund, currently being formulated by Ministers Shane Jones and David Parker.

Full-scale review into retail power pricing

A reliable bugbear for populist politicians, any review is unlikely to back an upheaval in the way New Zealand’s energy sector is structured, as had been promised by Labour and the Greens going into the 2014 election.

Both parties backed away from those proposed reforms, but energy and infrastructure lawyers will still see an opportunity to convince their retail energy clients that anything could happen.

Strengthen the Overseas Investment Act

Guiding wealthy overseas clients through the tranche of opaque and mysterious rules and procedures to get approval from the Overseas Investment Office has been a bread-and-butter workstream for lawyers in Auckland and Queenstown.

Expect long and panic-inducing submissions to be sent to Wellington from those same, ahem, impartial lawyers.

Introduce a royalty on exports of bottled water

Coca-cola (and the rest) won’t go down lightly on this, so expect the lawyers to work their fizz clients into a tizz over the practicality of the proposed royalty regime.

There’s no sign of affection from Winston towards the Big Law world, including his old firm Russell McVeagh. But for now at least, he seems to be delivering them an early Capitalist Christmas gift. It’s as if they’ve struck the trifecta.

*First published as ‘Briefcase’ in the National Business Review.

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Where Do Future Law Leaders Get Their News?

Social media nightmare lawfuel

 Geoffrey Schuler, CPA 

Finding reliable, real-time news sources and creating good habits to constantly monitor these outlets can be overwhelming for many young professionals.

It took me a long time to identify my list of favored resources (tailored to the legal industry) and means to access this list in real time. This blog is aimed at young lawyers/future law firm leaders who are still trying to figure out where they can find reliable news, on the go, in the way they want it.

I must caveat that as a millennial, I prefer to get my news on the go – I am constantly checking various ‘rapid-fire’ news applications on my phone & email throughout the day.

Also, my wife and I recently cut the cord and do not subscribe to any major news publications, so it became critical that I find a routine that works for me. This may be a millennial thing, but I am satisfied having everything I need on demand – quite literally – in the palm of my hand (my phone).

Over the past few years I’ve reviewed many news sources and means of accessing these sources. I have seen how easy it is to lose valuable time in the day due to a never-ending avalanche of news. To remain efficient, I’ve narrowed my list to a small group of applications and email blasts that I rely on to save me time and keep me informed.

My list of go-to news sources and how I access them**:

Reuters iPhone Application (for major world news) –
Reuters – This is, by far, my favorite source for news, as it is incredibly unbiased. Reuters reports only the facts and covers both world and domestic news focusing on business, politics, technology, markets, etc. I read the Reuters ‘wire’ (a collection of the latest news organized by headline) on and off all day as time permits.

Twitter – I follow specific law firms and various legal blogs/news outlets such as –
Bloomberg Big Law (@BigLawBiz) – Covers anything and everything related to the business of law, specifically focusing on large firms and corporate law departments (current events, M&A, tech, editorials, politics, etc.)

JD Supra (@JDSupra) – This is a great resource for general legal intelligence, news related to specific types of law, and current events. What I like about it is you can tailor the news feed to choose those topics that are greatest interest to you.

Law360 (@Law360) – This is my resource for updates on major legal industry specific news including mergers (law firm and non-law firm), lateral movements, and the impact new regulations will have on firms.

Pitchbook (@PitchBook) – ‘The Daily Pitch’ keeps me up to date on the top stories and trends in Venture Capital, Private Equity, and M&A.

Above the Law (@atlblog) – While ATL does have opinion pieces and is a bit “gossipy”, it does a good job with some developing law firm news (inside scoops) and salary information.

The American Lawyer (@AmericanLawyer) – A classic resource for lawyers – focuses on the business of law throughout the world, covering firms of all shapes and sizes.

News related to the markets – domestic & international
Bloomberg Markets Morning Blast – I get a daily email report on the top five major stories (U.S. related) of the day, which tend to be market related.
Local News (I am based in Chicago)
Crain’s Chicago – Morning 10 & Afternoon Wrap – This keeps me informed about Illinois and Chicago’s political and economic current events, as well as Chicago and Cook County’s latest taxes (kidding…kind of). Note – Crain’s publishes this type of information in most major cities.
Reddit (more so for personal interests and fun)
Reddit is a user driven platform that aggregates and organizes news, articles, opinions, and vigorous discussions by topic. Reddit is not solely for news – it also aggregates videos, memes, and a collection of other items. Reddit is incredibly popular amongst millennials and has become the 8th most trafficked website in the world. There is plenty of pointless drivel on the site, but I enjoy the fact that there is minimal advertising and that I can filter my home page to weed out topics I am not interested in.

I am most interested in sources that report unbiased facts so I can reach my own conclusions with respect to the legal industry and our clients. While biases exist everywhere, I find these sources (above) to be relatively fair and “spin-free” (except Reddit, which you must be very careful using as its content is entirely user driven). Another caveat is that it is critical to develop a list of sources while taking into consideration the industry and specific clients you serve. Following certain industry associations and trade press may be invaluable for young lawyers seeking to gain a competitive advantage against their peers.

The business of law continues to evolve at a very rapid pace and staying on top of the news – both general and legal-related – will help each of us stay informed, current, and valuable as advisors. While your sources may vary from mine, we both need to stay focused and regimented. Otherwise, we’ll have no time to advise our clients.

**Note – the inclusion/exclusion of any site reflects the personal preference of the author and does not reflect an endorsement or any official position by The LawVision Group.

Source –

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