In House - The FindLaw Corporate Counsel Blog


The recent wildfires that devastated California will have a lasting impact beyond the lives and homes destroyed. The company that is allegedly responsible for starting the Northern California Camp Fire, Pacific Gas and Electric, has stated its intention to declare bankruptcy due to the liabilities created by the wildfire's damage.

Declaring bankruptcy could leave investors and victims of wildfire taking severe financial losses, but as the company expressed, it may be the only way for the company to continue to operate. If the bankruptcy goes through, it would seem that creditors will likely be forced to take severe cuts, while customers bear the burden over the next few years due to rate hikes.

Companies Are Taking Action on Ocean Plastic Pollution

The Ocean Cleanup project -- a multi-national effort to take out an island of trash floating in the Pacific -- is failing.

It turns out the cleanup machine, a giant barrier that scoops up debris, has a problem. The rubbish was slipping out, and now it's broken. That happens when people and companies dump their trash into the ocean for generations. There's just too much.

But now companies are starting to take action to clean up plastic pollution. For example, Adidas is now making a shoe from recycled marine plastic in partnership with the non-profit Parley for the Oceans. Whether initiatives like this are done for PR reasons for out of genuine concern for the environment, it's sure to continue as a growing movement.

The company that makes Oreos has filed a really big case against its insurer, Zurich, due to a refusal to cover losses related to a cyberattack.

The insurer claims that the attack falls under a policy exclusion for an act of war because it has been attributed to Russia. And the case raises some valid, and untested, issues for companies offering and buying cyber-insurance policies.

Goldman Sachs Lawyer Retires With Huge Nest Egg

"Save for retirement" is the mantra of every financial adviser.

Gregory Palm, general counsel at Goldman Sachs, doesn't need that advice. He is retiring with about $500 million in company stocks, dividends, and distributions.

That's what happens when you get in early on a going concern. At Goldman Sachs, no employee will ever hold so many shares again.

Three Reasons to Gender-Balance Your Business

#MeToo is not a thing; it's a statement.

It says that women are demanding -- and getting -- better treatment in the business world. It's gone way beyond protection from sexual harassment, diversity in employment, and equal pay for equal work.

But if that's not enough to re-evaluate your company policy, here are three reasons to gender-balance your business:

CBS on the Lookout for Viacom CEO

If the Viacom deal goes through, CBS reportedly wants a twofer for a CEO.

It may be premature -- because merger talks have been tabled -- but CBS is already talking to potential candidates about the job. The company wants someone who can run both companies.

The early start has something to do with the former chief executive at CBS. The board would like to put that one behind them as soon as possible.

New Yorkers Are Really Liking Their Lawyers Right Now

Who'd have thought that lawyers would be popular again -- especially in New York?!

After attorneys were caught on video in racist rants in the Big Apple last year, it turns out that legal services are back in demand there. According to a new report, New York is leading the country in corporate legal spend.

Corporations in the state are spending 12 percent more over last year, but the survey says legal departments are spending more everywhere. That's right corporate America, we're talking to you.

What Law Schools Have the Best Programs for In-House Jobs?

So, your plan is to graduate from law school and become corporate counsel at a Fortune 500 company? Good luck with that.

According to experts, your chances of getting that job right out of law school are slim and none. It would be like going to Hollywood to get discovered while working at McDonald's.

However, there are law schools that can give you an advantage on your career path. Here's how to find the schools that lead to in-house jobs:

Wells Fargo to Pay Another $575 Million in Nationwide Settlement

Wells Fargo will be writing some big checks in a consumer protection case with all 50 states and the District of Columbia.

According to reports, the company will pay $575 million to settle complaints that the bank pressured its employees to create fake checking, credit card, and other accounts for customers without their knowledge. Investigators said the practice affected more than 3.5 million accounts.

The bank has already paid more than $600 million in restitution and $1 billion in fines. So long as the bank doesn't run out of checks, however, the worst may be over.

With the burgeoning cannabis businesses sprouting up across the country, more and more lawyers will be considering taking on general counsel duties for marijuana businesses.

Some lawyers might even find themselves looking at job offers in the cannabis industry as the amount of regulatory and compliance work isn't paltry. For those lucky lawyers considering the move in house in the cannabis business, below you can find a few pros and cons to consider.