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OpenMarket: February 2013

  • Wyeth and the multiplier

    February 5, 2013
    Class counsel in the City of Livonia Employees' Retirement Sys. v. Wyeth case have a $3.9 million lodestar, but are seeking $16.5 million for a settlement where the class will get three cents on the dollar for their alleged damages. The Center is objecting on behalf of a client. Dan Fisher covers at Forbes in a must-read story.
  • Bureaucrat Busybodies Make Nobody Busy

    February 4, 2013

    Last Friday, the unemployment rate crept up to 7.9 percent.

    Ironically, this news came a day after members of the Council on Jobs and Competitiveness received their pink slips. On Thursday, the council’s charter expired and the committee was disbanded. In January 2011, when unemployment had surpassed 9 percent, President Obama appointed business leaders to the council, which was founded to help create jobs. According to the Council’s website, its mission was to:

    ...
  • The Cost Of Enforcing Government Regulation

    February 4, 2013
    Regulatory cost estimates of around $1.8 trillion encompass compliance costs paid by the public plus economic drag. But but those estimates do not include the costs of administering the regulatory state, that is, on-budget amounts spent by federal agencies to produce rules and to police regulatory compliance are not accounted for there. For that part of the "regulatory budget," the Weidenbaum Center at Washington University in St. Louis and the Regulatory Studies Center at George Washington University in Washington, D.C., regularly examine the federal budget to excerpt and compile the administrative costs of developing and enforcing regulations. Because those funds are amounts that taxpayers pay to support agencies’ administrative budgets, rather than compliance costs paid by the regulated parties, the...
  • Herbicide Poses No Cancer Risk In Drinking Water

    February 4, 2013
    Over the years, the Environmental Working Group (EWG) and the Natural Resources Defense Council (NRDC) have repeatedly issued bogus reports claiming that Americans face serious cancer risks from trace chemicals found in drinking water. A new study challenges their claims regarding one of these activists’ key targets: the herbicide atrazine, which farmers use to control weeds rather than tilling the soil. This study, published in the European Journal of Cancer Prevention,...
  • Official Time: Taxpayers paying for union work is officially a scam

    February 4, 2013
    Capital Research Center Summary: Few Americans are aware that, through their tax dollars, they finance labor unions through a practice known as “official time” or “release time.” The cost to taxpayers is skyrocketing, while—thanks to Obama administration stonewalling—accountability is declining. Fortunately, reformers are working to rein in this costly, corrupt practice.  Each working day, government employees report for work but do not perform governmental duties. Instead, they work for a private enterprise void of any public purpose—their union. Taxpayers pay for these...
  • CEI's Battered Business Bureau: The Week In Regulation

    February 4, 2013
    70 new regulations, from airplane bathrooms to advertising seized property.
  • The New National Identification System Is Coming

    February 1, 2013
    “Maybe we should just brand all the babies.” With this joke, Ronald Reagan swatted down a national identification card -- or an enhanced Social Security card -- proposed by his attorney general in 1981. For more than three decades since, attempts to implement the proposal have all met with failure, but now national ID is back, and it’s worse than ever. As in 1981, immigration restrictions have provided the justification. In the name of stopping illegal employment, proposals floated by a bipartisan group of senators would create both a physical national ID -- an “enhanced” Social Security card -- and even more menacingly an Internet-based, electronic ID that could be accessed anywhere to confirm identity. After the election, Sen. Chuck Schumer (D-N.Y.), who is leading the Democrats immigration push, told NBC News that one of his top priorities was to “make sure that there is a non-...

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