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Winter 2009 · Volume 15, No. 12


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Feature

How a SAG Strike Could Impact L.A.

By Kevin Klowden (Milken Institute) and Elisabeth Browne (Cornerstone Research)


The damage to the economy of Los Angeles from a potential strike by the Screen Actors Guild is undeniable, yet extremely difficult to estimate. The range of estimates of the impact of the Writer's Guild strike that ended a year ago varied from $380 million to $2.5 billion. Kevin Klowden of the Milken Institute wrote a seminal study of the impact of that strike: "The Writers' Strike of 2007-2008: The Economic Impact of Digital Distribution." Here Mr. Klowden discusses how a SAG strike might affect our already battered entertainment economy.

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Why This Economic Downturn is Different From Others in Terms of Bankruptcy Filings

By Isaac M. Pachulski



While most experienced bankruptcy practitioners have dealt with the effects of an economic downturn before, what we are seeing this time around looks different--and more disconcerting than usual. The financial condition of major companies that end up in chapter 11 seems to be deteriorating at a faster pace before they arrive at the doors of the bankruptcy court; and, at least in the case of large retailers, liquidations too often seem to follow shortly after the chapter 11 filing. These differences, in turn, help to underscore the severity of the current economic downturn.

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A Message From The President

By Mitchell Stein



As I conclude my term as President of the Century City Bar Association, I want to thank our members, friends, advertisers, vendors and of course, the lawyers who make up our legal community, for the assistance and support we received this year. I will treasure the collaboration, camaraderie, and friendships I developed with my fellow officers, Scott Vick, Louis Dienes, Jane Wald, and Fay Arfa, forever.

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Reverse Piercing Of The Corporate Veil

By Edward T. Swanson



In 2008, the California courts first considered the theory of "outside reverse piercing of the corporate veil," which I have decided (perhaps with a bit of tongue in the cheek) to abbreviate herein as ORP. The Court of Appeal for the Fourth Appellate District refused to adopt ORP in Postal Instant Press, Inc. v. Kaswa Corporation, 200 Call App LEXIS 753 (May 20, 2008).

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Century City After Hours

By Edward T. Swanson

My Three Most Memorable Concerts

I started thinking recently about the many concerts I have attended over the years. While most are barely memorable (and many aren't even that), some stand the test of time: my very first live concert (the Righteous Brothers, when I was in high school); James Taylor in the late sixties, when Carole King was the opening act for him; Madonna at Universal Amphitheatre in 1985, with the Beastie Boys as her opening act; a concert at the Palace Theater in Hollywood in 2000 by 3 Doors Down with Nickelback as the opening act (the LA Times reviewer did not consider either group terribly memorable); Eminem in 2000 as an opening act for Limp Bizkit (I had no interest in seeing Limp Bizkit so left after Eminem's fabulous performance); the Offspring at Universal (one of the most high-energy concerts I've ever seen); the Tubes and their many props for each song; Oingo Boingo (Danny Elfman is one of the great musical geniuses of our time); Fleetwood Mac for the Rumours tour.

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