Confidence Better Than Expected
U.S. consumer confidence unexpectedly rose in August as an improving job
market outweighed rising gasoline prices, the Conference Board reported today.
The Conference Board said that its consumer confidence index rose in August
to 105.6 from a revised 103.6 in July. Analysts had predicted a decline in
August to a reading of 101.5, Reuters reported.
In a separate report from the Commerce Department, new orders in July at
U.S. factories sustained the largest drop since April 2004, although the
decline was not as dramatic as expected. Demand for a wide range of long-lasting
manufactured goods plunged. Read
the full story.
Expects Oil Price to Dip to $35
Steve Forbes, the American publishing executive, said today he expects
the price of oil to fall as low as $35 a barrel within a year, blaming
the current price spike largely on speculation, the Associated Press reported
Forbes, in Sydney for a conference of global business leaders sponsored
by his organization, said that U.S. inflation was helping fuel the rise “and
the rest of it is a sheer bubble of speculation. I think in 12 months we
are going to see oil down to $35, $40 a barrel,” he said.
As Hurricane Katrina lashed the U.S. Gulf Coast on Monday, oil hit $70.80
a barrel, before retreating. “It is a huge bubble, I don’t know what’s
going to pop, but eventually it will pop,” Forbes said of the oil price.
New Online Consumer Education Center Prepares Public for New Bankruptcy
ABI’s new and improved Consumer Education Center is up and running.
The user-friendly Consumer Education Center Web site contains information
critical to the decision-making process for consumers considering bankruptcy,
- “Should I File for Bankruptcy?”—complete with the “Consumer
Bankruptcy Checklist” of important considerations,
- Comprehensive bankruptcy FAQs that take the consumer from the decision-making
process all the way through exiting bankruptcy,
- Links to pertinent resources, including major credit counseling organizations
and a host of “financial literacy” sources,
- A directory of certified bankruptcy attorneys and
- An ABI-produced video program, “Taking Charge of your Finances,” on
the basics of household budgeting and bankruptcy options.
Check it out today!
“Best of Central
States Bankruptcy Workshop” Registration Now Open
The “Best of ABI” Webinar, “Preclusion Issues: Been There,
Done That,” will be held on September 21, 2005, at 2:00 p.m. EDT.
Among the featured presenters will be:
- Hon. Susan Pierson Sonderby,
U.S. Bankruptcy Court,
Northern District of Illinois, Chicago
- Timothy F. Nixon,
Godfrey & Kahn SC, Green Bay, Wis.
- Robert B. Millner, Sonnenschein Nath & Rosenthal LLP, Chicago
- Robert D. Gordon, Clark Hill PLC, Detroit
The “Best of ABI” series brings the highest-rated sessions
from each ABI conference right to your office. We provide a special web interface
for this program, allowing participants to interact online with presenters
through Q&As, file-sharing and dynamic polling. ABI offers the latest
distance learning technology in order to provide you with this innovative
learning experience. CLE/CPE
credit will be available in certain states.
The “Best of ABI” archive includes past programs that you can
register for and access 24/7/365.
Conference Provides Intensive New-Law Education
ABI’s Detroit Bankruptcy
Conference, “Practice Under the New
Bankruptcy Law” brings together the area’s top insolvency professionals
for one day of intense learning. The event will be held on November 11, 2005,
at the Novi Sheraton. Topics will include:
- U.S. Trustee Implementation: Entering, Getting Through and Exiting the
- The Means Test: An In-depth Analysis
- Chapter 13 Changes
- What Debtors Get to Keep (and Not): Homestead Exemption; Household Goods;
- The New Super-Creditor: Domestic Support Changes
- The New World of Chapter 11: Small Business Rules, Strategies in Real
Estate Cases, Lease Rules, Preference and Reclamation Issues and Ethics
- Tax Changes
today and earn up to 7 hours of CLE credit.
Now for ABI’s New Investment Banking Program
An “all-star” cast of industry leaders will play the roles
of the major constituents as they work through a case study in this day-long
program. In the new format and location, the 2005 ABI Investment
Banking Program will offer a unique approach to understanding the role
of investment bankers in insolvency and restructuring contexts. See how creditor
and debtor dynamics affect a case as the players seek the highest value for
an insolvent company. Join us for this year’s program, to be
held in Las Vegas at the Four Seasons Hotel, September 8–9, 2005.
Moderators and Program Co-chairs:
- James D. Decker, Houlihan Lokey Howard & Zukin
- Peter S. Kaufman, Gordian Group LLC
- Board of Directors: Laura Davis Jones, Pachulski, Stang et. al
- Debtor/Management: William K. Snyder, Corporate Revitalization Partners LLC
- Trade Creditors: Peter M. Gilhuly, Latham & Watkins
- Senior Lender: Mitchell E. Drucker, CIT Group Inc.
- Private Equity Investor: Joel B. Piassick, Harbert Management
- Bondholders: Jeffrey S. Sabin, Schulte Roth & Zabel LLP
- CRO: Rebecca A. Roof, AlixPartners LLC
- U.S. Trustee: Ilene J. Lashinsky, Region 14, Arizona
- Judge: Hon. Wesley W. Steen, S.D. Texas
London Calling: ABI’s
International Insolvency Symposium
ABI’s first program in
Europe, to be
held September 23, 2005, in London, at the renowned Savoy Hotel, will
bring together top international speakers to discuss the issues of the moment
in international insolvency and restructuring. The event has attracted significant
support from the industry’s leading professional firms in the United
States and Europe.
Sir Gavin Lightman, Chancery Division High Court of Justice, London, will
present the keynote address: Views from the Bench. Other symposium sessions
will include International Forum Shopping, Hands Across the Pond: Identifying
Best Practices, Restructuring Trends in Europe, and Managing an International
today for this exciting international program.
Mark Your Calendar to
Participate in the New Bankruptcy Law Series’ Final Webinar!
The Judges’ Perspective—September
22, 2 p.m. EDT
This Webinar will be a special roundtable featuring a panel of leading
- Second Circuit: Hon. Elizabeth Stong, Eastern District of New York
- Fourth Circuit: Hon. Douglas Tice, Eastern District of Virginia
- Fifth Circuit: Hon. Barbara Houser, Northern District of Texas
- Sixth Circuit: Hon. Steven Rhodes, Eastern District of Michigan
- Ninth Circuit: Hon. Samuel Bufford, Central District of California
- Tenth Circuit: Hon. James Starzynski, District of New Mexico
- Eleventh Circuit: Hon. Mary Grace Diehl, Northern District of Georgia
Young And New Members Committee
Newsletter Now Available Online
Read about the Third Circuit Court’s reversal on the District Court’s
negation of guarantees and YNMC leadership changes, and get the ABI 2005
Winter Leadership Conference agenda in the August issue of the Young and New Members Committee Newsletter.
for the Certification Exam
The new bankruptcy law provides that courts will take into account board
certification when awarding attorney fees under §330. The American
Board of Certification is offering its exams several times this fall (covering
current law). You can prepare for the exams with a handy and affordable CD-ROM
prepared by board-certified ABI members. The CD includes materials on consumer
bankruptcy, business bankruptcy, ethics and creditors’ rights. Sample
exam questions and answers are also included. Member price is $195. Buy
the CD-ROM in ABI’s online store!
ABI World Tutorial Highlights
A new online tutorial
focuses on the capability of ABI’s search engine. The tutorial
features a visual demonstration of how to use the online search engine
and locate documents quickly and easily on a particular bankruptcy topic
within the thousands of articles, reports, publications, court documents
and many other sources available at the ABI World web site. This is the
third in a series of tutorials that will highlight the many resources and
services available at ABI World.
Latest Job Postings at ABI Career Center
Check out the ABI
Career Center. The Center is a one-stop site for job seekers and employers
in the insolvency community. Career Center resources are available free
to both employers and job seekers. New positions are featured daily. The
latest listings include: