Podcasts about Dechert

(0:00) Intro(1:14) About the podcast sponsor: The American College of Governance Counsel(2:01) Start of interview(4:38) His professional background starting with Skadden in Delaware.(5:08) About his corporate governance practice at Dechert LLP(8:10) How Delaware Came to Dominate U.S. Incorporations(13:14) What prompted the pushback against Delaware(15:12) The Tornetta v Musk decision (Elon Musk CEO compensation rescission)(18:40) The Rationale Behind the Governor and Legislature's Support for SB21 in Delaware.(22:38) Changes to Controlled Stockholder Transactions and the Definition of a Controller (Safe Harbor Provision under Section 144)(24:18) Doctrine of Transaction-Specific Control (reference to paper by Pollman and Will, 2025)(26:06) Explaining the MFW Doctrine, a Delaware law concept that provides a pathway to business judgment review for transactions involving a controlling stockholder, instead of the more rigorous "entire fairness" review (pre SB-21). "The view had become the MFW doctrine was creating both litigation risk and deal uncertainty."(30:45) Changes to Section 220 Shareholder Inspection Rights by SB21.(34:04) Will SB21 stem the tide of reincorporations? "I think it is enabling companies that had been looking at moves to pause"(37:00) Competing States: Nevada and Texas (40:17) Revisiting Caremark claims (directors' oversight duties). Legal risks vs business risks.(44:50) Book that has greatly influenced his life: Hagakure (early 1700s, Japan)(45:47) His mentors:Mark Thierfelder (Co-Chair, Dechert) Eric Waxman (Ares Management) Tom Allingham (former partner at Skadden)(46:58) Quotes that he thinks of often or lives his life by.(47:52) An unusual habit or an absurd thing that he loves. (49:11) The living person he most admires: former Delaware Chancellor William B. Chandler, III.Rick Horvath is a partner at Dechert LLP in San Francisco and focuses his practice on corporate governance matters. You can follow Evan on social media at:X: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Despite a year of geopolitical volatility and economic uncertainty, private equity demonstrated its resilience in 2024. With challenges still ahead, how are PE managers setting themselves up for success in the coming year? In this special episode, Dechert partners Sarah Kupferman, Rani Habash, Eliot Relles and Sam Whittaker share their perspectives and insights on key findings from Dechert's 2025 Global Private Equity Outlook report, including the increased appetite for co-investments and club deals, the impact of regulatory changes and private credit's growing role in bridging funding gaps. Show Notes 2025 Global Private Equity Outlook 

The FTC's recent overhaul of its premerger notification requirements has culminated in a completely new HSR form, which recently became effective and now obligates parties to reportable transactions to disclose substantially more information to the antitrust agencies up front.  What impact will these new requirements have on private equity firms now that they are in effect? In this Sidecar episode, Dechert antitrust partner James Fishkin and counsel Beverly Ang highlight a few key changes in the new rules and how PE firms should adjust in order to ensure compliance with the new regime.Show Notes The New Hart-Scott-Rodino Reporting Requirements: A Roadmap for Filers, Dechert OnPoint (Oct. 30, 2024)

Private markets are becoming more accessible to non-institutional investors, as the rise in semi-liquid vehicles this year demonstrates. At the same time, the industry is facing certain potential headwinds or tailwinds, depending on which region you're based in, as law firm Dechert's 2025 Global Private Equity Outlook survey has found. In this episode, partners Sabina Comis and Chris Field sit down with Private Equity International senior editor Adam Le to discuss the results of the law firm's latest survey, which examines these issues and more. In this podcast, Comis and Field also discuss: The expected impact of the US election on PE portfolios Regulatory scrutiny Fee structuring, including on co-investments Secondaries transaction activity and deal volume For more private markets insights, check out privateequityinternational.com

Private equity firms are increasingly looking at strategic options both for their business and fundraising, including GP-stake sales and seeding transactions. What factors do GPs consider when evaluating these options? In this episode, Dechert's Sam Kay leads a discussion with Rede Partners' Magnus Goodlad and New Catalyst Strategic Partners' Demetrius Sidberry on how the market is developing, how businesses are valued, the different methodologies and investment structures for either a GP-stake sale or a seeding arrangement, and more.

2024 marks the 40th anniversary of Dechert's global private equity practice. In this special episode, Blackstone's Christopher James, KKR's John Park, and AB Private Credit Investors' Jay Ramakrishnan join Ken Young, co-chair of Dechert's corporate and securities practice and co-head of the global private equity group, to reflect on the evolution of the PE industry, from its humble beginnings to its current scale and complexity.  Among other topics, they discuss the diversification of investment strategies from pure buyout shops to massive alternative asset managers, the evolution and the role of private credit in the private equity ecosystem, and the increasing ability for retail investors to access private markets strategies.Key Takeaways Over the past 40 years, private equity has demonstrated resilience through various economic cycles, continually evolving to meet new challenges.The private equity industry has grown tremendously in both scale and diversification of strategies.Not just private equity, private credit has also emerged as a key asset class, benefiting from the rise in private equity while also supporting that growth.Diversification has included the investor classes too, where outreach to retail investor is the next phase in the diversification of the private capital business.What do the next 40 years hold for PE?  According to our guests, quite a lot.

The new EU Foreign Subsidies Regulation (FSR) aims to address potential market distortions caused by subsidies from outside the EU, introducing new European Commission reporting obligations for private equity firms. In this Sidecar, Dechert partners Saira Henry, Michael Okkonen, and Clemens York discuss how private equity firms can adopt proactive strategies and thorough due diligence to effectively navigate the new regime. Show Notes “The Regulatory Gauntlet: Dealmakers Face Increased Scrutiny,” Dechert OnPoint (Nov. 5, 2023) 

Jörg Dechert über Psalm 111,2 (Autor: Dr. Jörg Dechert)

Jörg Dechert über Psalm 111,2 (Autor: Dr. Jörg Dechert)

This Day in Legal History: Equal Rights Party FormedOn September 20, 1884, a group of American suffragists formed the Equal Rights Party in San Francisco, marking a significant moment in the fight for gender equality in the United States. The party was established with the goal of securing "equal and exact justice" for all citizens, regardless of color, sex, or nationality. A key focus was on amending state laws to recognize women as voters and to ensure equal property rights, aiming to empower women to become self-sufficient rather than remain dependent. In a bold move, the party nominated Mrs. Belva Lockwood as its candidate for U.S. President and Marietta Snow for Vice-President. Lockwood, a lawyer and prominent suffragist, became one of the first women to actively campaign for the presidency. While Grover Cleveland ultimately won the election, Lockwood's candidacy broke new ground. She garnered around 4,149 votes, all cast by male voters, as women did not yet have the right to vote nationally. This event showcased the growing momentum of the women's suffrage movement, which would eventually lead to the passage of the 19th Amendment in 1920, granting women the right to vote. The Equal Rights Party's formation highlighted the early intersection of gender, legal rights, and political advocacy in American history.An Alaska man, Panos Anastasiou, has been indicted for sending over 450 threatening messages to six U.S. Supreme Court justices and two of their family members. The threats, which began in March 2023 and escalated in January 2024, included violent, racist, and homophobic language, as well as calls for assassination and torture. Federal prosecutors allege that the messages were intended to intimidate and retaliate against the justices for their legal decisions. Attorney General Merrick Garland emphasized that the threats undermine the judiciary's independence and public officials' safety. While the indictment did not name the specific justices targeted, details in court filings suggest that some threats were directed at Justice Clarence Thomas, referencing racist tropes and his wife's political activism. Anastasiou has been temporarily detained, with prosecutors expressing concern that he poses a flight risk and a continued danger due to his history of threats against public officials. The case follows a growing concern for the security of federal judges, highlighted by recent threats against other Supreme Court justices, including an attempted assassination of Justice Brett Kavanaugh in 2022.Alaska Man Charged With Threatening Supreme Court Justices (1)Following the U.S. Supreme Court's 2023 decision to ban race-conscious admissions, Harvard Law School saw a drop in students of color, with the percentage decreasing from 51% in 2023 to 43% in the new class. This is the first class admitted after the ruling, which stemmed from cases against Harvard and the University of North Carolina. The data from Harvard does not break down racial groups, leaving unclear how different minority groups were affected. The overall decline translates to about 45 fewer non-white students out of a class of 560, marking the lowest diversity percentage since 2017. Other top law schools have reported mixed results, with some maintaining or increasing their diversity. The University of California, Berkeley School of Law, which has been under a state affirmative action ban since 1996, also reported a decline in students of color. More detailed racial breakdowns from law schools will be provided by the American Bar Association in December.Harvard Law School says enrollment of students of color dropped after affirmative action ban | ReutersIn a long-running lawsuit accusing Google of secretly tracking internet browsing in "incognito" mode, a major dispute remains over legal fees. Plaintiffs' lawyers from firms like Boies Schiller Flexner and Morgan & Morgan are seeking $217 million in fees for securing a settlement that mandates Google to delete billions of records and update privacy disclosures. Google has countered, arguing the fees should be capped at $40 million, claiming the settlement offers no monetary relief for consumers since the lawsuit failed to gain class-action status. Plaintiffs' attorneys claim their work, valued at $62.4 million in time, provides $3 to $6 billion in privacy benefits to consumers. U.S. District Judge Yvonne Gonzalez Rogers, who presides over the case, noted the plaintiffs were not entirely successful but did acknowledge the significance of the privacy reforms. She also questioned some of the billing rates, calling $667 per hour for document review “excessive.” The case is awaiting a final ruling on the fee dispute. Other recent legal fee awards include $107.8 million in a separate Apple settlement and $102 million for attorneys in a stock-lending conspiracy case.Legal Fee Tracker: Google, privacy lawyers clash over $217 million fee bid | ReutersJohnson & Johnson (J&J) has increased its offer to over $8.2 billion to settle thousands of lawsuits alleging that its talc-based baby powder caused cancer, up from a previous $6.5 billion offer. This increase reflects a potential $1.7 billion hike to resolve the litigation, with claimants expected to receive larger payouts and $650 million allocated to cover legal fees. Despite continuing settlement talks, J&J maintains its baby powder is safe and has been marketed appropriately for over 100 years. The company has already secured over 75% support from claimants for a settlement covering cases related to ovarian and other gynecological cancers, which may expedite resolution through bankruptcy courts. Some plaintiffs, however, have yet to agree to the terms. J&J has also settled 95% of claims alleging that its baby powder was contaminated with asbestos, leading to mesothelioma. Analysts expect the additional $1.1 billion increase to be within acceptable limits for investors, contributing to a recent rise in J&J's stock. Total payouts related to the baby powder litigation now exceed $13.4 billion.J&J Lifts Baby Powder Settlement Bid to More Than $8.2 BillionAviation executive Farhad Azima has settled a lawsuit with law firm Dechert and two of its former senior attorneys, Neil Gerrard and David Hughes, over claims they participated in a scheme to hack Azima's emails and use the information in court to harm his business. The terms of the settlement, which was reached in New York, were not disclosed, and Dechert denied any liability in the case. This marks another legal victory for Azima, who previously had British judgments against him thrown out after it was revealed that hackers had been used by Dechert's client, the Gulf emirate of Ras Al Khaimah. Earlier in 2024, Dechert paid Azima £3 million ($3.8 million) to settle a separate case in the U.K. without admitting liability. The firm also settled with journalist Jay Solomon, another hacking victim, last year. Azima continues to pursue legal action against other parties involved in the hacking, including Israeli private investigator Amit Forlit, who faces extradition to the U.S. on related charges.Aviation executive Farhad Azima settles with law firm Dechert over hacking claim | ReutersThis week's closing theme is by Franz Liszt.Franz Liszt was one of the most influential and innovative composers and pianists of the 19th century. Known for his breathtaking piano technique and wide-ranging compositions, Liszt's musical legacy includes both virtuosic showpieces and deeply spiritual works. While his early career was defined by dazzling performances across Europe, his later years saw a profound religious transformation. This turn towards spirituality is epitomized by his ordination as a cleric on this date, September 20, 1865, a significant date in his life that influenced his compositional direction.One of Liszt's most introspective and spiritual compositions from this period is Via Crucis, written between 1878 and 1879. It is a moving meditation on the Stations of the Cross, combining minimalistic textures and religious themes. The work strips away the flamboyance of his earlier pieces, reflecting a profound inner contemplation. The opening movement, Vexilla Regis, captures the solemnity and grandeur of Christ's procession to the crucifixion, using austere harmonies and chant-like melodies to evoke deep reflection.As we close this week's program, we'll leave you with Vexilla Regis, the opening theme of Via Crucis. This haunting and reverent piece sets the tone for Liszt's spiritual masterpiece, inviting listeners into a quiet, reflective space. Without further ado, Franz Liszt's Vexilla Regis, from Via Crucis, enjoy. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

In this week's Legal Speak episode, Dechert global managing partner Vince Cohen discusses his D.C. upbringing, his time in the U.S. Attorney's Office and his decision to make Dechert his home, all while paying homage to the city that raised him.

This Day in Legal History: Khrushchev at the HelmOn September 13, 1953, Nikita Khrushchev was appointed General Secretary of the Communist Party of the Soviet Union, marking a pivotal shift in Soviet leadership following the death of Joseph Stalin. Khrushchev's rise to power signaled a departure from the oppressive and brutal regime of Stalin, as he eventually denounced many of Stalin's crimes during his famous "Secret Speech" in 1956. This denouncement was part of Khrushchev's broader policy of de-Stalinization, which aimed to reduce the terror associated with Stalin's rule and promote a more moderate, reform-oriented government. Khrushchev's leadership saw significant changes both domestically and internationally. He pushed for economic reforms, introduced policies that relaxed censorship, and reduced the use of forced labor. On the global stage, Khrushchev's foreign policy was marked by intense Cold War tensions, including the Cuban Missile Crisis of 1962, which brought the world to the brink of nuclear war. His eventual mishandling of the crisis and other domestic challenges contributed to his ouster in 1964 by political rivals within the Soviet leadership.The legal element here is Khrushchev's role in de-Stalinization, which involved dismantling many of Stalin's legal policies of oppression, including the arbitrary imprisonment and execution of political opponents. His reforms reshaped the Soviet legal system by curbing the powers of the secret police and reducing the scale of political purges.Hogan Lovells is closing its offices in Poland, Australia, and South Africa as part of a strategic shift to focus on key markets like London, New York, California, Texas, and Washington, DC. This move will result in 123 layoffs, including lawyers and support staff. CEO Miguel Zaldivar explained the decision aligns with the firm's goal of becoming more financially integrated and reaching $3 billion in annual revenue. Hogan Lovells is following a trend of Big Law firms reducing their real estate footprints, with firms like Dechert, Armstrong Teasdale, and A&O Shearman also closing offices globally. Legal recruiter Jeffrey Lowe noted that international offices are particularly costly for U.S. firms, prompting many to reassess their presence in certain markets. The closures reflect a broader effort to free up capital to attract high-priced lateral talent, a trend expected to continue in the coming years.Hogan Lovells to Close Three Offices in ‘Strategic' Move (3)Norfolk Southern Corp. is seeking its seventh legal leader in as many years after firing Chief Legal Officer Nabanita Nag and CEO Alan Shaw due to a consensual relationship that violated company policy. This follows an internal investigation conducted by an outside law firm. Jason Morris, the company's vice president for law, has been named acting corporate secretary, though it is unclear if he will assume control of the legal department. Norfolk Southern has faced significant legal and regulatory challenges, including the costly East Palestine, Ohio train derailment in 2022, which has led to $2 billion in litigation and remediation expenses.Nag, who took over as legal chief in 2022, is the latest in a series of legal department leaders to leave Norfolk Southern. Her predecessors left for various reasons, including retirement and relocation due to the company's headquarters moving from Norfolk, Virginia to Atlanta. Norfolk Southern has reached large settlements related to the Ohio derailment, including $600 million to resolve lawsuits and $310 million for U.S. government claims. The company continues to deal with litigation over the incident, represented by WilmerHale and Dickie McCamey, and faces further scrutiny from investors following the disaster.Norfolk Southern Law Head's Ouster Continues Department TurnoverThe House has received a letter from the federal judiciary regarding a potential impeachment inquiry into former Alaska District Judge Joshua Kindred, who resigned after being found guilty of sexual misconduct and lying to investigators. The Ninth Circuit's Judicial Committee certified an impeachment inquiry into Kindred in July, citing his creation of a hostile work environment and an inappropriate relationship with a former law clerk. While Kindred resigned, a Senate conviction could bar him from future public office. Democratic Representative Hank Johnson praised the judiciary for taking the allegations seriously, but it remains unclear if the House will pursue the matter. Legal experts suggest Republicans may be reluctant to proceed, given that Kindred is no longer in office, similar to their stance during Trump's second impeachment trial. The last federal judge impeached and removed from office was G. Thomas Porteous in 2010.Meanwhile, scrutiny has increased on Kindred's past cases, with over 40 potentially involving conflicts of interest. Criminal defense lawyers in Alaska are exploring opportunities to overturn convictions related to Kindred's misconduct. Additionally, Kindred's former clerk has filed a whistleblower complaint, alleging retaliation by the Alaska U.S. Attorney's office after she reported the harassment.Ex-Alaska Judge's Potential Impeachment Moves to House (2)TikTok and its parent company ByteDance are facing a pivotal court hearing on Monday that could determine whether the app will be banned in the U.S. by January 19, 2025. The U.S. Court of Appeals for the District of Columbia will hear oral arguments in the legal challenge, which occurs as TikTok remains a key platform for political engagement during the 2024 presidential election. TikTok argues that the law mandating its sale or banning it violates free speech rights and is a drastic departure from the U.S. tradition of supporting an open internet. U.S. lawmakers passed the law, citing national security concerns over potential Chinese government access to American data. TikTok has claimed that divesting the app is unfeasible, and the case could end up before the Supreme Court. While the Biden administration wants Chinese ownership of TikTok to end, it is not pushing for an outright ban if the app's ownership issues are resolved. A decision is expected by December 6.TikTok faces crucial court hearing that could decide fate in US | ReutersThis week's closing theme is by Clara Wieck-Schumann. This week's closing theme honors the extraordinary Clara Schumann, one of the most influential figures in the world of 19th-century classical music, born on this day, September 13, in 1819. A virtuoso pianist, composer, and teacher, Clara Schumann's legacy extends far beyond her role as the wife of composer Robert Schumann. She was a musical prodigy who gave her first public concert at the age of nine, and over her long career, she toured extensively across Europe, earning widespread acclaim for her impeccable technique and profound musicality.Clara Schumann was also a gifted composer, though her work was often overshadowed by the social expectations of her time. One of her standout compositions is Scherzo No. 2 in C minor, Op. 14. Written in 1845, this piece exemplifies her command of the piano, featuring a powerful interplay of rhythmic vitality and lyrical expressiveness. The Scherzo No. 2 showcases Clara's deep understanding of Romantic aesthetics, with its dramatic contrasts and technical brilliance—a hallmark of her compositional style. The piece demands a high level of virtuosity, a reflection of her own skills as one of the greatest pianists of her era.Despite facing many personal challenges, including the early death of her husband and the pressure to provide for her family, Clara remained dedicated to her craft. She shaped the landscape of European concert life, championing the works of Robert Schumann, Johannes Brahms, and other contemporary composers, while continuing to write and perform her own music.Clara Schumann's Scherzo No. 2 is a fitting tribute to her genius—its energetic and complex nature reflects her resilience and innovation in a time when female composers were seldom given their due recognition. As we listen to this remarkable piece, it's a reminder of her invaluable contributions to classical music, both as a composer and a performer, whose impact still resonates today. On her birthday, it's only right to celebrate Clara Schumann's enduring artistry and reflect on her place in music history. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Jörg Dechert über Hesekiel 18,19f (Autor: Dr. Jörg Dechert)

Jörg Dechert über Hesekiel 18,19f (Autor: Dr. Jörg Dechert)

Shiloh Bates speaks with John Timperio, the Co-Head of Dechert's Global Finance practice, about CLO regulation in this episode of The CLO Investor podcast.

Jörg Dechert über Psalm 34,8 (Autor: Dr. Jörg Dechert)

Jörg Dechert über Psalm 34,8 (Autor: Dr. Jörg Dechert)

Despite evaluating fewer transactions for potential national security risks, the Committee on Foreign Investment in the United States (CFIUS) is taking longer than ever to complete its reviews, significantly impacting deal closing timelines for PE transactions involving foreign investors. In this Sidecar episode, Dechert private equity partner Bernardo Piereck and national security partners Jeremy Zucker and Hrishikesh Hari discuss the current length of CFIUS reviews, insights into the Committee's mitigation measures as detailed in its annual report to Congress, and steps that investors can take to structure their transactions with CFIUS considerations in mind.Show Notes“Highlights from the Annual CFIUS Report,” Dechert OnPoint (August 7, 2024)“Finally, An Update on Outbound Investment,” Dechert OnPoint (June 26, 2024)“The Evolving Global Foreign Direct Investment and National Security Review Landscape,” Dechert LLP (May 2024) 

Welcome to episode 272 of The Cloud Pod! This week, Matthew and Justin are bringing you all the latest in cloud and AI news, including new updates to the ongoing Crowdstrike drama, JSON schemas, AWS vaults, and IPv6 addresses – even some hacking opportunities! All this and more, this week in the cloud.  Titles we almost went with this week: The cloud pod is now logically air-gapped The Cloud Pod has continuous snark The Cloud Pod points the finger at delta AI now with JSON SCHEMAS!!!  A big thanks to this week's sponsor: We're sponsorless! Want to get your brand, company, or service in front of a very enthusiastic group of cloud news seekers? You've come to the right place! Send us an email or hit us up on our slack channel for more info.  Follow Up 00:35 Crowdstrike RCA The final RCA is out from Crowdstrike, and as we talked during the preliminary report, this was an issue with a channel file that had 21 input parameters. No update previously had more than 20, and it was not caught in earlier testing.  Crowdstrike has several findings, and mitigating actions that they are taking. They go into detail on each of them, and you can read through all of them at the linked document.  02:31 Justin – “…the one thing I would say is this would be a perfect RCA if it included a timeline, but it lacks, it lacks a timeline view.” 12:06 Justin – “…their mitigations don’t have any dates on them of when they’re going to be done or implemented, which, in addition to a timeline, it would be nice to see in this process.” 15:46 Microsoft joins CrowdStrike in pushing IT outage recovery responsibility  back to Delta Microsoft has joined Crowdstrike in throwing Delta under the bus.  Delta Airlines has been blaming Crowdstrike and MS for their recent IT woes, which the company claims cost them over $500 million. Microsoft says “Our preliminary review suggests that Delta, unlike its competitors, has not modernized its IT infrastructure, either for the benefit of its customers or for its pilots and flight attendants” Mark Cheffo from law firm Dechert representing MS.  Gonna get ugly before this all gets settled. *Insert Michael Jackson eating popcorn gif here* 16:43 Justin – “The struggle with, you know, offering to send someone on site to help you is, you know, you, you can’t vet them that quickly. And so you also have an obligation to your shareholders. You have obligations to your security controls and your SOC and ISO and all the things that you’re doing, you know, to, to allow some strangers into your network and then give them access required to fix this issue, which in some cases required you to

Jörg Dechert über Lukas 12,13-21. (Autor: Dr. Jörg Dechert)

Jörg Dechert über Lukas 12,13-21. (Autor: Dr. Jörg Dechert)

Joining Jill and Doron on our 21st episode, the third of our second season, to tell us his story, is Steven Fogel, a solicitor whose practice at the large international law firm, Dechert, which he led, focused on commercial property.   Steven attended Carmel from 1963 to ‘69, and then read law at King's College in London.  He wrote several textbooks and drafted legislation. He now acts as a board member, trustee or advisor of a museum and various groups dedicated to education, music and dance.  He produces the occasional short film or story, and just published the extended essay “Carmel - the movie”.   Hear Steven talk about Sir Philip Green teaching him to guard his blancmange, a Purim skit gone awry, and what scent from Carmel days still evokes in him fear, loathing and respect.   Thank you, Steven Fogel, for turning us again to Carmel days! Personal mentions in this episode: David Stamler (Headmaster) Mr. Gottfried Mrs. Gottfried Mrs. Edwards (Sanatorium matron) Mr. Crossthwaite (Latin) Charles Marshall (Rowing) Dr. John Addis (History) Rabbi Sidney Leperer (Jewish Studies & Ancient History) Malcolm Shifrin (Librarian) John Bunney (Physics) M.P. Coombe (Biology) Timothy Healey (History) Mr. Tobin (Drama) Mr. J. Hobson (English) David Fogel Paul Bond Robert Cannon Mitchell Field Howard Bott David Silver Philip Green Arthur Merrin Stephen Plosker Diane Godfrey Philip Eder Michael Sternberg Matthew Engel Jack Felber Peter Marshall Ricky Inverne Simon Freeman Simon Silver   Feel free to leave a comment letting us know what you liked about this episode, and rate us on your favorite podcast platform

Justin is a USC Gould School of Law Graduate and works as a Partner at ArentFox Schiff. In this episode, Justin and I embark on a fascinating journey, reminiscing about his beginnings at USC Gould School of Law and traveling through the corridors of the Big 10 Conference, the empire of Mr. Beast, and the creative genius of Matt Stone, co-creator of my favorite show, South Park.Justin shares his incredible experiences at USC Gould, offering valuable insights on how to excel academically, manage your time effectively, and maintain a healthy work-life balance. He emphasizes the importance of finding mentors and building connections with peers, highlighting how these relationships can lead to future opportunities.We delve into Justin's impressive career, exploring his roles at Fox Sports, NBCUniversal, and Dechert, where he discovered his passion for mergers and acquisitions. Justin recounts his journey to his current position at ArentFox Schiff, sharing captivating stories of the high-profile M&A deals he has worked on. The names and projects he mentions are truly astounding, showcasing the caliber of his daily work.In keeping with my commitment to an informal podcast style, we also dive into a lively discussion about my current favorite hobby: professional wrestling. Wrestling fans, you won't want to miss this segment!Justin's extensive experience and remarkable stories make this episode a must-listen for anyone interested in law, media, or M&A. His advice to young and aspiring attorneys is to savor every moment of law school and make the most of the opportunities it presents. Tune in for an episode packed with insights, inspiration, and a dash of fun! Justin's LinkedIn: linkedin.com/in/justinagoldbergCheck out the Official sponsor of the Lawyers in the Making Podcast Rhetoric:Rhetoric takes user briefs and motions and compares them against the text of opinions written by judges to identify ways to tailor their arguments to better persuade the judges handling their cases. Rhetoric's focus is on persuasion and helps users find new ways to improve their odds of success through more persuasive arguments. Find them here: userhetoric.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit lawyersinthemaking.substack.com

ERF Gottesdienst zu Ostern mit Dr. Jörg Dechert aus dem ERF Medienhaus in Wetzlar.

On the back of a record-setting 2023, the secondary market delivered estimated volumes surpassing US$110 billion. The momentum for credit secondaries shows no sign of slowing down in 2024, but what are the key drivers and trends fueling its growth?In this episode, Dechert's Nicole Macarchuk leads a discussion with Apollo's Olga Kosters on how the secondaries market has evolved in recent years, the current market opportunity for LP and GP-led secondaries, why large asset managers are being drawn into the market, the top considerations from the buy-side, and more.

Dechert, Antjewww.deutschlandfunk.de, Tag für Tag

After the 2008 financial crisis, investment managers came up with a new securitized product: the collateralized loan obligation, or CLO, for commercial real estate. It was designed to correct some of the risks that came with its predecessor, the collateralized debt obligation. But what exactly is the CRE CLO and how does it work? Deconstruct enlisted attorney and CLO expert Stewart McQueen at Dechert to break down the product.

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional. In today's edition of Daily Compliance News: Facebook turns 20.  (WSJ) Razak sentence length has been halved. (Al Jazeera) More bad news for Dechert. (Reuters) Will FTX repay its creditors? (NYT) For more information on Ethico and a free White Paper on top compliance issues in 2024, click here. Learn more about your ad choices. Visit megaphone.fm/adchoices

A year of rising interest rates and slower growth has proved challenging for the global PE industry. Yet, notwithstanding a decline in fundraising and dealmaking over the past year, how are resilient managers overcoming today's challenges and setting themselves up for success during 2024? In this special episode of Committed Capital, private capital and PE leaders from Hamilton Lane, Tikehau Capital, Capital Square Partners and Court Square Capital Partners offer their perspectives on the key findings from Dechert and Mergermarket's 2024 Global Private Equity Outlook report, including the rise of GP-stake divestitures and take-privates, the continued growth of the private credit market, the appetite for GP-led secondaries and continuation vehicles, the impact of rising regulatory scrutiny, the upsurge of democratization and more. 

This week on Breaking Battlegrounds, we're excited to welcome Henry Olsen, Washington Post columnist, senior fellow at the Ethics and Public Policy Center and host of Beyond the Polls. Alongside Olsen, we're welcoming Noah Smith, a journalist with a unique focus on the business, political, and cultural implications of video games, bringing a fresh perspective on the intersections of gaming, culture, and society. Plus, don't miss Kiley's Corner, where Kiley dives into the gripping case of Oklahoma City Attorney and Her Client-Turned-Lover Charged with Triple Murder. -Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegrounds-About our guestsHenry Olsen Henry Olsen is a senior fellow at the Ethics and Public Policy Center. He was the Thomas W. Smith distinguished scholar in residence at Arizona State University for the winter/spring 2023 semester. Olsen began his career as a political consultant at the California firm of Hoffenblum-Mollrich. After three years working for the California Assembly Republican Caucus, he returned to school to become a lawyer. Following law school he clerked for the Honorable Danny J. Boggs on the United States Sixth Circuit Court of Appeals and as an associate in the Philadelphia office of Dechert, Price & Rhoads. He then joined the think tank world where he spent the next eighteen years as an executive at a variety of institutions, serving as the President of the Commonwealth Foundation, a Vice President at the Manhattan Institute, and as Vice President and Director, National Research Initiative, at the American Enterprise Institute. He left AEI in 2013 to pursue a career in political analysis and writing at EPPC. During that time his work has appeared in variety of leading publications in America and the United Kingdom. He is the author or co-author of two books, “The Working Class Republican: Ronald Reagan and the Return of Blue-Collar Conservatism” and (with Dante J. Scala) “The Four Faces of the Republican Party”. His biennial election predictions have been widely praised for the uncanny accuracy, and he is a frequent guest on television and radio programs. Olsen regularly speaks about American political trends and global populism in the United State, Europe, and Australia.Noah Smith - Washington PostNoah Smith is a journalist focused on the business, political and cultural implications of video games. His reporting for The Post has also included national, political, business, sports and culture news. Noah's writing, photos and videos have previously appeared in NBC News, the New York Times, the Guardian, Fortune Magazine, and dozens of outlets across the U.S. He was based in Israel from 2012-2013, where he reported for Digital First Media outlets in the U.S. Midwest. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit breakingbattlegrounds.substack.com

On November 30, 1804, a significant event in the history of the United States judiciary unfolded when Supreme Court Justice Samuel Chase went on trial before the U.S. Senate. This marked a pivotal moment in American legal history, as Chase was the first U.S. Supreme Court Justice to be impeached. His impeachment was called for by the House of Representatives, led by the Jeffersonian Republicans, who accused him of "arbitrary and oppressive conduct of trials.”The charges against Chase were politically motivated, stemming from his Federalist leanings and his conduct in politically sensitive trials. The Jeffersonians, led by President Thomas Jefferson, were seeking to reduce Federalist influence in the judiciary, and Chase's impeachment was part of this broader political struggle.Chase's trial in the Senate was a landmark event, emphasizing the tension between the judiciary and the other branches of government. It raised fundamental questions about judicial independence and the role of impeachment as a tool for addressing judicial misconduct. The trial proceedings were detailed in an 1805 publication, providing a thorough account of this important moment in U.S. legal history.Ultimately, in March 1805, Chase was acquitted by the Senate. His acquittal set an important precedent for the independence of the judiciary and limited the use of impeachment against judges for political purposes. The trial and acquittal of Samuel Chase remains a significant chapter in the story of American jurisprudence and the balance of powers in the U.S. government. In the intervening years, all impeachments of federal judges have been for misconduct, not a perceived incorrect outcome in any one or set of cases. In this way, the impeachment of Samuel Chase set the tone for what does and does not constitute a dereliction of duty in the federal judiciary. Henry Kissinger, who yesterday died at the age of 100, oversaw policies resulting in the deaths of millions during his tenure as National Security Advisor and Secretary of State under Presidents Nixon and Ford. His strategies contributed to mass casualties in Cambodia, Chile, East Timor, Bangladesh, and the Kurdish regions. Particularly notorious were his actions in Cambodia, leading to widespread destruction and the subsequent Cambodian genocide, and in Chile, where he supported the coup that brought Pinochet to power. Despite these war crimes, or perhaps because of them, Kissinger was revered by many in the American ruling class. The fact that he outlived at least 3 million of his victims, without facing any significant consequences for his actions, raises profound questions about accountability and justice. His death should not overshadow the immense human suffering his policies caused.Henry Kissinger, War Criminal Beloved by America's Ruling Class, Finally DiesHenry Kissinger, Top U.S. Diplomat Responsible for Millions of Deaths, Dies at 100U.S. law firms are experiencing a second consecutive year of pay raises for associates, following Cravath, Swaine & Moore's announcement of increased salaries, leading other firms to follow suit. Major firms like Paul, Weiss, Rifkind, Wharton & Garrison; Cleary Gottlieb Steen & Hamilton; Baker McKenzie; and Dechert have introduced new salary scales, starting at $225,000 for first-year lawyers and up to $435,000 for senior associates. This move aligns with the base salary scale set by Cravath. Earlier, Milbank was the first to unveil higher salaries in 2023, but the recent hikes by other firms have matched or exceeded Milbank's for more junior and senior associates, respectively.This increase in salaries is notable because it comes at a time when there isn't high demand for associates, with many firms having excess capacity. Peter Zeughauser of Zeughauser Group highlighted the unusual nature of these raises, given the current market conditions. Some less profitable firms might choose not to match these new salary standards. This trend of increasing associate pay, which began last year, is adding stress to many law firms, and the recent raises are expected to exacerbate this situation.Despite slower growth in average revenues among the country's largest law firms, as reported by Wells Fargo, and a decline in mergers and acquisitions activity, the need to maintain competitive reputations and meet the perceived prestige requirement of matching salary scales compels many firms to increase pay. Firms like Skadden, Arps, Slate, Meagher & Flom, and Hogan Lovells also raised salaries on Wednesday. Furthermore, Proskauer Rose reportedly increased salaries too.These salary hikes are accompanied by year-end bonus announcements, with figures ranging from $15,000 to $115,000 based on class year. Additionally, some firms are offering extra bonuses based on work or hours billed. This trend reflects the evolving business dynamics within the legal industry, emphasizing the importance of maintaining competitive pay scales in a changing economic landscape.US law firm pay raises spread for second year in a row | ReutersCravath Announces Raises - Comes Over The Top Of Milbank Scale (For Some Associates) - Above the LawCravath Salary Increases Pressure Rivals Who Can't Afford MatchAn Illinois firearms retailer and the National Association for Gun Rights have asked the U.S. Supreme Court to block Illinois' ban on assault-style rifles and large capacity magazines. This request follows a previous denial by the Supreme Court in May and comes after a lower court also rejected their bid for a preliminary injunction against the bans in both the state and the Chicago suburb of Naperville.The Illinois ban, known as the Protect Illinois Communities Act, was enacted in response to a 2022 mass shooting during an Independence Day parade in Highland Park, which resulted in seven deaths and numerous injuries. Signed into law in January by Governor J.B. Pritzker, the Act prohibits the sale and distribution of various high-powered semiautomatic firearms, including AK-47 and AR-15 rifles, and limits magazine capacities.The plaintiffs argue that these bans violate the U.S. Constitution's Second Amendment, which protects the right to "keep and bear" arms. However, the Chicago-based 7th U.S. Circuit Court of Appeals recently upheld the bans, ruling that they are likely lawful. The court's reasoning was that the Second Amendment applies to weapons intended for individual self-defense, not military-grade weapons like assault rifles and high-capacity magazines.This legal challenge is part of several ongoing cases against the state's ban. The issue of assault-style rifles remains a divisive topic in the U.S., particularly in the context of addressing frequent mass shootings and firearms violence. The Supreme Court, with its conservative majority, has historically expanded gun rights in landmark rulings, including a 2022 decision recognizing a constitutional right to publicly carry a handgun for self-defense and stipulating that gun restrictions must align with historical firearm regulation traditions.US Supreme Court is again asked to block Illinois assault weapons ban | ReutersTexas has urged a U.S. appeals court to reinstate a state law that bans sexually explicit books from public school libraries, arguing that this does not infringe on booksellers' free speech rights. The law, which was blocked by a federal judge, requires vendors to review books for sexual content before selling them to schools, a process that has been criticized for its subjectivity and potential for politically-driven censorship.During the hearing, Circuit Judges Don Willett and Dana Douglas of the 5th U.S. Circuit Court of Appeals raised concerns about the broad definition of "sexually explicit" content and the challenges booksellers outside of Texas face in complying with the law's requirement to align with "current community standards of decency." The Texas Attorney General's Office, represented by Kateland Jackson, argued that Texas could be viewed as a single community despite its size and diversity.The law empowers the Texas Education Agency to review book ratings, barring explicit material from public schools and requiring their removal from libraries. Critics, including the plaintiffs represented by Laura Prather of Haynes and Boone, argue that the law compels speech from booksellers and imposes vague standards, essentially amounting to censorship.Republican Governor Greg Abbott has defended the law, stating it protects children by removing inappropriate material from schools. However, U.S. District Judge Alan Albright blocked the rating requirements in September, siding with the plaintiffs that the law violates the 1st Amendment.This Texas case is part of a broader trend in Republican-controlled states seeking to restrict school materials on sensitive topics like sex, LGBTQ issues, and race. The American Library Association reported a significant increase in attempts to censor library books in 2022, indicating a rising national debate over the availability of certain materials in public schools.Texas urges appeals court to revive public school book ban | ReutersThe Environmental Protection Agency (EPA) has proposed a significant update to the Lead and Copper Rule, aiming to replace the "vast majority" of lead drinking water pipes in the United States within 10 years. This new proposal, expected to be finalized in 2024, marks a substantial increase from the Trump-era rule established in 2021, which reduced the annual replacement requirement to 3% from the original 7% set in 1991. Under the updated rule, water systems would need to replace at least 10% of their lead pipes annually, with the goal of achieving complete replacement nationwide in a decade.Radhika Fox, EPA's assistant administrator for the Office of Water, highlighted the flexibility of the proposal, allowing states to require communities to expedite replacements if possible. The proposal also mandates water systems to maintain updated lead pipe inventories, develop replacement plans, and track pipe materials.A significant aspect of the proposal is the reduction of the lead action level in drinking water from 15 to 10 micrograms per liter, requiring water utilities to notify the public when lead levels exceed this new threshold. This lowered action level is expected to bring substantial public health improvements by compelling more water systems to implement interim measures like corrosion control.The draft rule also emphasizes the need for better communication between drinking water systems and residents regarding plans to replace lead service lines. The public will have a 60-day period to comment on the proposal once it is published in the Federal Register.Funding for these replacements will be supported by the $15 billion allocated by Congress in the 2021 infrastructure law and the EPA's Drinking Water State Revolving Fund. The urgency of this proposal is underscored by the public health crisis highlighted by the Flint, Michigan incident in 2014, where lead contamination in drinking water led to widespread health issues.Despite the ambitious goals, challenges such as increasing costs, supply chain disruptions, and staffing shortages have been identified by the Association of Metropolitan Water Agencies (AMWA) as barriers to the successful replacement of lead service lines. AMWA CEO Tom Dobbins emphasizes the need for the EPA to provide necessary resources and tools to overcome these barriers and achieve the goal of eliminating lead pipes.All Lead Water Pipes to be Replaced Under Proposed EPA Rule Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

How has the private equity industry evolved this year amid a sustained rising interest rate and inflationary environment, fierce competition for LP capital and the increasing democratisation of the asset class? Dechert partner Chris Field sits down with Private Equity International senior editor Adam Le to discuss the results of the law firm's 2024 Global Private Equity Outlook, which examines this very question.

In recent years, the food and agricultural sector has seen growing interest from private equity investment. Driven by an increased demand for food, environmental, social and governance issues, as well as an awareness of climate change, investor interest in sustainable agriculture is set to continue and grow. What are the key drivers behind this trend? In this episode, Dechert's Nick Marchica leads a discussion with Blue Road Capital's David Blue and Farmers Gate's Daniel Fabian on what makes investing in food and agriculture so appealing, how investors can innovate to meet the increasing demand, and the trends and issues likely to shape the sector in years to come. 

In this episode, we've lined up a trio of compelling guests to keep you informed. First, Congressman Russell Fry, representing South Carolina's 7th District, joins us to discuss critical topics, including the border crisis, Hurricane Idalia's impact on his district, and his bipartisan bill, the Fentanyl Crisis Research and Evaluation Act. Plus, we'll explore the latest developments in the Biden family investigations.Then, we'll shift our focus to New York's 3rd Congressional District with congressional candidate Kellen Curry where he discusses his bid to unseat incumbent George Santos.Lastly, friend of the show, Henry Olsen, a Washington Post columnist and senior fellow at the Ethics and Public Policy Center, will provide insights into the ever-evolving political landscape, including his recent analysis of Trump._Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegrounds-Congressman Russell Fry is proud to serve the Grand Strand and Pee Dee as their Representative for South Carolina's Seventh Congressional District.Russell is a true believer in the American Dream. Growing up he watched his parents work hard for every penny they earned, and since then Russell has been doing the same. He put himself through his undergraduate education at the University of South Carolina and law school at the Charleston School of Law, where he served as president of the Student Bar Association, helped the school achieve its American Bar Association accreditation, and also received the prestigious Civility Award. After this, he practiced law along the Grand Strand for over a decade.As an Eagle Scout, Russell shares the sentiment that “you should leave your campsite better than you found it.” Every day he strives towards a goal that  “we should leave our country better than we found it.” Growing up, he saw first-hand how government's actions directly affect families living paycheck to paycheck, and he is committed to fighting for those who don't always have a voice.Russell is a public servant and active member of his community. Prior to this role, he represented State House District 106 (Horry County) in South Carolina's General Assembly for seven years. He served as Chief Majority Whip, where he fought for lower taxes, less government, pro-Second Amendment legislation, and pro-life legislation. Russell also chaired the House Opioid Abuse Prevention Study Committee, which resulted in 18 policy initiatives being signed into law and record funding for opioid prevention, education, and treatment.Russell is a loving husband to his wife, Bronwen, and dedicated father to their son, James. The family lives in Murrells Inlet with their chocolate lab, Jasper.  -Kellen CurryAs a graduate of the United States Air Force Academy Kellen spent eight years on active duty delivering critical cyber security technology for our country's military and completed two tours of duty in Afghanistan. After completing his Master of Business Administration degree at George Washington University, Kellen went on to work at J.P. Morgan's Corporate and Investment Banking Division in New York City. Kellen believes his extensive experience working in national security and in our national economy will serve him well in his bid for Congress. Kellen continues to serve our nation in the Air Force Reserves and is a student at Columbia University pursuing a Master of Science in Sports Management where he also volunteers with Positive Coaching Alliance, a non-profit organization which strives to create a positive youth sports environment in communities across the country.In his campaign, Kellen will be focusing on core issues including national defense in the face of rising global threats, economic insecurity due to persistently high inflation, increasing affordability on Long Island and raising the accountability bar in D.C. through ethics reforms.He will also be working to achieve what he calls ‘the gold standard of constituency services' which has been absent but is critical to improving the lives of NY-3 residents.-Henry Olsen is a Washington Post columnist and senior fellow at the Ethics and Public Policy Center. He was the Thomas W. Smith distinguished scholar in residence at Arizona State University for the winter/spring 2023 semester. Olsen began his career as a political consultant at the California firm of Hoffenblum-Mollrich. After three years working for the California Assembly Republican Caucus, he returned to school to become a lawyer. Following law school he clerked for the Honorable Danny J. Boggs on the United States Sixth Circuit Court of Appeals and as an associate in the Philadelphia office of Dechert, Price & Rhoads. He then joined the think tank world where he spent the next eighteen years as an executive at a variety of institutions, serving as the President of the Commonwealth Foundation, a Vice President at the Manhattan Institute, and as Vice President and Director, National Research Initiative, at the American Enterprise Institute. He left AEI in 2013 to pursue a career in political analysis and writing at EPPC. During that time his work has appeared in variety of leading publications in America and the United Kingdom. He is the author or co-author of two books, “The Working Class Republican: Ronald Reagan and the Return of Blue-Collar Conservatism” and (with Dante J. Scala) “The Four Faces of the Republican Party”. His biennial election predictions have been widely praised for the uncanny accuracy, and he is a frequent guest on television and radio programs. Olsen regularly speaks about American political trends and global populism in the United State, Europe, and Australia.-TRANSCRIPTIONSam Stone: Welcome to another episode of Breaking Battlegrounds with your host, Chuck Warren. I'm Sam Stone. Our first guest up today, Congressman Russell Fry, represents South Carolina's seventh District. Prior to going to the US Congress, he represented the state House in South Carolina's General Assembly for seven years, served as chief majority whip. And Chuck, we always love Congress members and senators who have served in their local, state house or local government because you just get a perspective that Washington does not offer. So we're very excited to talk with him. He is a fighter for lower taxes, less government, pro-Second Amendment legislation and pro-life legislation. Chuck, if you're pro-life today, you've got to be fighting this fentanyl epidemic, this crisis that is tearing the country apart.Chuck Warren: 100%. Congressman, you have introduced a bipartisan bill called the Fentanyl Crisis Research and Evaluation Act to learn more about how the fentanyl crisis is impacting America in South Carolina in 2021, you had 1494 deaths due to fentanyl. I mean, that's we can multiply that by 1020 because of the family members it affects, right? Their loved ones, things of that nature. What do we need to do to turn the tide back against this fentanyl crisis?Congressman Russell Fry: Oh, gosh, there's just a lot. And quite honestly, I don't even know that we have enough time in this segment, but we'll try. The first thing I think is and the first thing is you've got to stop the flow that's at the border. You've got to stop that. You've got to address that. But beyond that, what you have to realize is you need access to care. You need the ability of families to get the resources and the help they need. You need to strengthen law enforcement. And what frustrates me is this is the biggest one of the biggest health care problems that we have in this country. But beyond that, Congress doesn't know a lot about the impact on the economy, on the labor market, on housing, the impact on the Treasury, I mean, all these different things. And the fact that we don't know those frustrates me. I just got there. I'm like, wait a second, y'all don't know these data points that would help dictate good policy. So you got to stop the flow. But beyond that, you need to give lanes for recovery so that people can get back on their feet and get back to work, get back to being normal people. And fentanyl just I mean, we see it every day. 70% of the overdoses in this state are associated with fentanyl alone. And it's similar like that across the country. It's just sad to see.Chuck Warren: Well, what's so frustrating about this fentanyl crisis is a there is a role for government closing the border, finding out what these data points are, the things you're trying to investigate.Sam Stone: And pushing people into treatment.Chuck Warren: Pushing people in treatment. But what's also frustrating for me is just don't take drugs. I mean, you know, I mean, it's that's what's hard about it. Right? And so there's you know, the government has a role in this. And I don't want to pretend it does not law enforcement has a role in this. But there's also a lot of personal responsibility. And I think that's something the communities and churches I mean, the old Nancy Reagan slogan, just say no, which was mocked. I don't know. Maybe we need a campaign like that again.Congressman Russell Fry: Well, maybe. Look, and I do know that prevention for every dollar that you invest in prevention, you save, I think, $4 in health care costs and $7 in criminal justice costs. So the messaging, the PSA that people put out there, that that education component is just so big. And what's crazy look, I'm 38 years old and we all know people who partake in a little bit of marijuana or whatever. People just do that. And and in some states, it's allowed. Some states it's not. But you know what's crazy? They lived to tell the tale until recently. I mean, it's laced in everything. And that's the that's the crazy people don't go out and seek, you know, let me get some fentanyl. It's usually added into other things. And you hear about West Point cadets, you hear about students, you hear about just really everybody in all walks of life that have to deal with this. And they never live to tell the tale to get back on the recovery. So the prevention side, which you just talked about, that's critical to this.Sam Stone: Well, and and, Congressman, this is Sam. One of the things that so I've worked a lot with the city of Phoenix. And one of the things that that we know that I don't think the public is fully aware of yet is that Narcan loses effectiveness after a person has had to use it a couple of times. So the more the more someone has overdosed. And right now, we're keeping a lot of these folks alive by having Narcan everywhere. But there are limitations on that. And that's going to result in a increased death toll over time.Congressman Russell Fry: I'm right. Right. And you know what's frustrating to to that point, we just did this pilot program in South Carolina that I think other places can do. But say you say you overdose, you go to the hospital, you're recovered, you revive, you come around again, and you know what? You have this moment of clarity. At that point. A lot of people do, and they go, I need to get help. And so then they try to go get into a place to get help. And guess what? You got to wait two, three, four weeks to get into a place. Well, guess what? By that time, that addiction has already started to pull you back in and you're back doing the same thing you are again. What we've done in South Carolina, at least here locally, is fast track those people. So when these things happen. But that's one of those barriers to access that just when there's that clarity because everyone hits that point, when there's that clarity and you go, I need to get help, I need help, you got to wait around for 4 or 5, six weeks. If you can even get in somewhere.Sam Stone: You have to have help available right then and there, right?Congressman Russell Fry: So you need it. And if you don't have that peer to peer help, if you don't have, you know, medication assisted treatment or whatever, whatever options are out there, if that's not available to you, you're doing the same thing again. And you might not get a second, third and fourth chance in the future. You might overdose and pass away. And that's what we're seeing right now.Chuck Warren: With Congressman Russell Fry. He represents South Carolina's seventh district. You can catch this interview this weekend in Florence, South Carolina, on Am 1400 and of course, nationwide on other outlets. Congressman, have you talked to local law enforcement about this issue? And what are their what's their feedback to you?Congressman Russell Fry: Well, I have and unfortunately, in your listening area in Florence, there's a sheriff whose daughter just recently passed away from a fentanyl overdose. And so, again, it affects everybody, but they're seeing just the dramatic growth in it. Their officers are equipped with Narcan. They're seeing it. They're seeing the growth of this drug in rural communities, in urban centers, really everywhere. And it's and it's worse than it's ever been. So they feel frustrated. South Carolina did fortunately pass a law last year. I had when I was in the General Assembly, I was had brought it up. And sometimes these things take a couple of years to get done. But in this one, it just gives tools to law enforcement to be able to crack down on this, to be able to, you know, to unwind some of these some of these drug rings that are that are around. And so that's a big component to this, too. But they're feeling it and they see it every day. And they have to train their officers on how to deal with it because it's a dangerous substance that if it gets on your skin, one of their own might go down.Sam Stone: Yeah, we've seen that across the country with police officers who have been overdosed from from very minor exposure to fentanyl during their interactions with the public. So it's a huge issue. But Congressman, one of the things and I know you've been a big fighter for a secure border, but it seems like this is not a problem we're going to be able to address unless we start getting control of the border. And the data that just come out shows that not only are we not doing anything realistically to get control of the border, the problem is worse than it's ever been. Over 90,000 people detained by Border Patrol last month, you know, beating a May 2019 record.Chuck Warren: And that's who they.Sam Stone: Caught and that's who they caught. The fentanyl dealers are not the ones those are the ones who are turning themselves over to Border Patrol to begin the asylum process. The people were not catching are the fentanyl traffickers, the dealers, the cartel members. Right. How do we address this unless we start really securing our border?Congressman Russell Fry: Well, you can't. And that's been my message even before I got to Congress. And just doing dealing with opioids in the state level, you cannot begin to address the issue until you shut off the hose, until you shut off the flow. And it doesn't mean you can't start start trying and keep trying. South Carolina's always going to do that. Local governments are always going to keep trying to address it, but they're not in the position that the federal government is to deal with the flow. And when you have the administration touts the record amount of fentanyl that they've seized, that's great. But there's so much more that's coming through the border. We know that. We know the precursors, the chemicals are coming from China. We know that they're being manufactured. And just south we know that the cartels are shipping them up and they're not dummies. They will flood an area with 100 200 migrants and then two miles up the road, they'll sneak a you know, they'll sneak fentanyl across the border or, you know, human smuggling or human trafficking. They'll do that because all the resources are dealing with the 200 people that are just sitting there in this section of Yuma or wherever they might be. It's obscene.Chuck Warren: Well, with Congressman Russell Fry, you can get him on Twitter at Russell Fry, SC. Congressman, you you're your district was just hit by the hurricane. How is everybody doing? How's everybody coping out there?Congressman Russell Fry: I think okay. I mean, we were very fortunate. I mean, there was some tornadic activity up in the Cherry Grove section along the coast. And so you had some homes that were damaged. You have a road that that looks like it took some damage. But I would say overall, we were very fortunate. I think the storm, you know, there's never a. A great time for a storm to hit. But when it's low tide and the storm arrives, you don't have the storm surge. It was moving very quickly, so it didn't stay here long. You know, it rained five and a half, six inches, which is a lot. But it was able we were able to largely absorb it. So I think overall, we were very blessed in dealing with it. And so some some things to recover from, but not as bad as Florida and not as bad as prior storms in our area.Sam Stone: Congressman, we have just about two minutes before we go to break. And folks, we're going to be coming back with more from congressman here in just a moment. But one of the things I kind of Chuck and I have been kind of talking about these last couple of days watching this hurricane is that I think the almost every American citizen would would give thanks to God that this did not end up being a worse situation than it was, that it was not the catastrophe that was predicted. But what is kind of disconcerting to me is that it seems like the corporate media, the left media, even some Democrat officials, there was almost a palpable sense of disappointment that these two hurricanes that we've just had, the one on the West Coast and this one neither delivered the kind of catastrophe that that they almost seem to be hoping for.Congressman Russell Fry: No, it's it's it's wild. And they drive clicks and they spin up fear. We actually had some and I won't tell you who, but we had some news interviews that were canceled. And I just have to assume that it was it wasn't it wasn't chaotic enough for them. But regardless, I think I think you're right. And and it's sad to see people get spun up. We've been dealing with storms since forever. And in 1957, we had Hurricane Hazel that wreaked havoc. It was way before my time. But you talk to people, it was, I think, a Category 4 or 5 that hit this area directly. These storms are you know, they they are problematic. But what makes it worse is just the the doomsday scenarios from the media. People just need to be prepared. They need to listen to their, you know, their local local officials and state officials on how to deal with this. But then that's when FEMA comes in on the back end, is to help the recovery.Sam Stone: Yeah, absolutely. Breaking is going to be back in just a moment with more from Congressman Russell Fry.Advertisement: At Overstock. We know home is a pretty important place and that's why we believe everyone deserves a home that makes them happy. Whether you're furnishing a new house or apartment or simply looking to update and refresh a few rooms, Overstock has every day free shipping and amazing deals on the beautiful, high quality furniture and decor. You need to transform any home into the home of your dreams. Overstock Making dream Homes Come True.Sam Stone: Welcome back to Breaking battlegrounds with your host, Chuck Warren. I'm Sam Stone. We're going to be continuing on in just a moment with more from Congressman Russell Fry of South Carolina's seventh District. But first, folks, how's your portfolio doing? Been an up and down, another up and down week in the Biden stock market. What if you could earn up to a 10.25% fixed rate of return instead of taking all that risk up to 10.25% fixed? It's a fantastic opportunity from our friends at  Y refy. Check them out, invest, yrefy.com or give them a call at 888 y refy 24 and tell them Chuck and Sam sent you. All right, Congressman, before we went to break, we were talking a little bit about the issues with fentanyl, the border. And you mentioned that something I think a lot of people are becoming aware of is that the precursor chemicals for the fentanyl that we're seeing coming into the country for the meth, that is vastly more powerful than it was just a few years ago. That is coming into this country with the the tranq and other new designer drugs, the precursor chemicals are all coming to Mexico where they're turned into drugs. They're coming from China. What can we do to try to stop that pipeline?Congressman Russell Fry: Well, I think I think you've got to have a realistic one. I think that there are and we we saw this a little bit with with the Trump administration in the early stages. But you've got to stop that flow. You've got to be able to sanction those companies, stop the flow, take, you know, and look, China needs to be a willing participant here, too. And that's the frustration that I have right now, is that there was a there was an op ed the other day talking about fentanyl from a Biden administration official, but they never mentioned China. Well, they have a big role here. These chemicals are manufactured over there and they're shipped across to the cartels who put it all together and make fentanyl. And so they've got to be a willing participant. But you've got to have an administration that actually wakes up and says, we know this is coming from our southern border. We know the chemicals are coming from China. And up to this point, they're not really talking about that. And I think that's the big that's the biggest frustration.Sam Stone: You're asking Joe Biden to wake up. There's no evidence that's possible.Chuck Warren: I mean, look, if you're China and you want to hurt your competitor, I won't say we're there. Amy, let's say were their number one competitor. What do you do? You flood their country with things that will cause devastation, Right? It's an unseen war that.Sam Stone: Fentanyl, meth.Chuck Warren: Tiktok, it's not the same as firing a missile, but it has the same effect. All due respect.Congressman Russell Fry: Well, in a lot of these companies, too, I mean, they have multiple locations in different spots, right? I mean, they're just they're usually not just isolated in China. You know, these are big companies. And so they need to have some skin in the game. You need to be able to you need to be able to leverage influence there, maybe even tariff or sanction them. But at the end of the day, the flow, you know, China has a spot there. And you know what? Maybe there's there is a nefarious purpose behind this. I believe you're probably right about that. But there are ways to address it. And if they won't, then we need to there are other ways that we can force them to the table. And we need to we need to take a look at that. 300 Americans die every single day from this drug. I mean, it's just astronomical. And, you know, we've used the term poisoning because that's really what it is. It's not an overdose as much as it is fentanyl poisoning in our country. So pulling them to the table, even if they don't want to come, I think has got to be a priority of this administration.Chuck Warren: With Congressman Russell Fry of South Carolina's seventh District, you can join and help us campaign at Russell Fry SC.com or visit him on Twitter. Russell Fry, SC. First, I have two questions. First, is it true you're the eighth grade ping pong champion?Congressman Russell Fry: Oh, yeah. I still got the trophy. It wasn't it wasn't a participation trophy either. It was a real trophy.Chuck Warren: And and and the person you you, you beat, is that person still bitter about that or has he given up? Given up?Congressman Russell Fry: They probably given up. I don't know. Maybe they're bitter. I haven't talked to that person in a while.Chuck Warren: But, you know, I think I think we need a social media post with that trophy.Sam Stone: We'll be coming We'll be coming back with with more from from Congressman Gump here shortly.Chuck Warren: Exactly. All right. We have Hunter Biden and, you know, the press, which is gives the ultimate cover to the Biden administration. First of the laptop two years later, they admit it. Now we have all these alias names, 5000 emails and archives. Tell our audience what on earth is going on. I saw a tweet this morning. I just replied, The easiest way for Biden to solve this just release all the emails if there's nothing there. Right? I mean, just transparency. So tell people a little bit about it and what House Republicans can do to flesh this out more since the press is going to do everything they can to protect President Biden and Hunter.Congressman Russell Fry: Well, they're finally starting to pay attention. And I think that's maybe begrudgingly, maybe they don't want to pay attention, but they're finally starting to take notice of what's going on. But the new the new revelation, you know, look, Hunter Biden or Joe Biden had aliases that they used and that's what the Oversight Committee had subpoenaed. They used aliases, you know, Robin Wear and Robert Peters and, you know, different names that they would use. And so we subpoenaed anything that had to deal with those names or those email addresses. And again, it just shows a pattern of conduct with this family. You look at the text messages, you look at the emails, you look at the use of the term the big guy. You look at the 1023 that was released, you look at the the bank transactions and the money that flows from, at this point, four companies ultimately layered through kind of a series of money laundering actions and funneled into 20 LLCs that are all connected to multiple members of the Biden family. So this this again, just shows a course of conduct.Chuck Warren: And what people, family and what people don't understand is I own several companies, so I have various LLCs for various things. Correct. It takes a lot of work to manage 20 LLCs. You get filings, you get taxes. I mean, so this wasn't done just. To be. I mean, it was done more to be clever and hide something. They don't seem done.Sam Stone: Admittedly, they don't seem to have paid a lot of attention to the taxes part.Chuck Warren: No, but would you agree with that? I mean, doing 20 LLCs. I mean, it takes a lot of work.Congressman Russell Fry: Oh, it's a headache. And most of these LLCs were actually formed while Joe was vice president. That's that's kind of alarming. But to see and I think there was a quote in the 1023. You all have seen it. Your listeners have seen it as well. But it was toward the bottom. And the guy says it will take investigators ten years to figure out what's going on. And that's kind of proven true. I mean, we're on year I think, eight at this point, but it's taken that long because no one, DOJ and others didn't want to actually investigate this. But to when you're dealing with financial stuff, it's just so nebulous and it's hard to follow and it's hard to track and it's hard to keep people's attention. But there is enough smoke here that people realize what's going on. And I think that's why the work that we've done so far has been incredibly important on this and also why I think that this is headed toward an impeachment inquiry. It doesn't mean impeachment. You still have to do your homework and make sure you do your job. But at this point, there's just enough there. There's way more than enough to launch that process.Chuck Warren: We have about 30s left with you. Tell our audience, tell your constituents why you have faith in America's future.Congressman Russell Fry: Because I have faith in the American people and their resolve and their ability to take large amounts of information, synthesize them and make an opinion. We're seeing people wake up in a powerful way right now. And and it's not just Republicans. It's really everybody realizing what's going on. The people control this country. They always have. And they see what's going on is is, you know, shameful. But they're ready for for a better tomorrow.Sam Stone: Fantastic. Thank you so much, Congressman. We very much appreciate your time today. Folks, you can follow him. Chuck, what was that?Chuck Warren: You can follow him on Twitter, Russell Fry, SC, or you can also visit his website. Russell Frysc.com contribute, volunteer, get involved. He's doing the great work and help him out. Congressman, thank you.Congressman Russell Fry: Thank you all.Chuck Warren: Have a great weekend.Sam Stone: Folks, more from breaking battlegrounds. We're back in just a moment. Welcome back to Breaking Battlegrounds with the host Chuck Warren and Sam Stone. Big thank you to our first guest up today, Congressman Russell Fry. Fantastic discussion with him. And now we're talking to someone. Frankly, Chuck, I think this is going to be one of the most important congressional races for for Republicans in the country in this coming year. It's going to be close. Well, if you.Chuck Warren: Like honesty in public elections. Yes.Sam Stone: Yeah, Well, some of us still do. Some some of us believe in truth telling, even even on the air here where almost everyone else wants to lie to you. But, folks, we're not doing that. And that's why we have today Kellen Curry, congressional candidate running against Jorge Santos for New York's third Congressional District. He is a graduate of the United States Air Force Academy, one of those places where they don't take liars lightly and spent eight years on active duty delivering critical cybersecurity technology for our country's military. After completing two tours in Afghanistan, Kaelin went on to work at J.P. Morgan's corporate and investment banking division in New York City. Kaelin Curry, welcome to the program.Kellen Curry: Hey, how are you? Thanks so much for having me. I'm excited to be talking with you guys this afternoon.Chuck Warren: So tell us, what did the Air Force do to prepare you to run for Congress and to serve in Congress eventually?Kellen Curry: Absolutely. I think, you know, every every part of my experience in the Air Force was extremely positive. You know, the culture of serving the country, which, you know, is a culture that I come from my my you know, I'm a third generation veteran. My parents were public servants. Dad was a retired naval officer. Mom is a is a continues to be a decades long federal civil servant. And so just grew up watching them and and they both worked at Tinker Air Force Base right outside of Oklahoma City. And just, you know, I always wanted to have my own story of service. And so I think it was always in my future and going to the Air Force Academy and serving in the Air Force as an officer, you know, just the lessons of leadership, the lessons of of of being in a team and a group where you don't know who's who's a Republican or who's a Democrat, you just your mission focused. And that's the kind of perspective I bring to politics.Sam Stone: Kellen Considering especially mission focus, one of the things I like about your background, your resume, is the experience in cybersecurity. There are a few people in Congress, in the Senate who are starting to become more aware of that issue. But it's not an area where there's a lot of elected expertise. You talk about mission focus. How much do you think you'll be able to make that your mission to help educate your colleagues about the various issues related to cybersecurity on both sides of the aisle?Kellen Curry: Absolutely. I think the country has been going through and really all of society has really been going through a learning curve when it comes to cybersecurity. And it's really just a matter of how do we defend and safeguard the information that's that's on that's on our networks. And we're so we're such a networked people in in society today. And so, you know, the first and foremost is just, you know, your hygiene on the Internet. You know, when you use the same password for every website. I know some of us are guilty of that. I know I am sometimes, too. It seems like I'm.Sam Stone: Looking across at Chuck right now and laughing. Yeah.Kellen Curry: Yeah, yeah. I think, you know, we live in a in a culture in a society where you got to have a password and login for like everything you touch. And so, you know, that's the first and foremost. And then the other thing is that I think from a national security standpoint is that we just have to invest, we have to invest, and we have to nurture innovation. One of the best things about America is our is our innovative economy, and that flows into our national security. I mean, to the extent that we can nurture that, that innovation in the private sector and then leverage it to use in military applications is what my time in the Air Force was all about. And so, you know, like you said, being able to educate, you know, our lawmakers on how to procure those those technologies, how to make sure that we don't pass regulation, that that stifles that technology is really the biggest thing.Chuck Warren: What do we do about China? I mean, you were in the military, two tours in Afghanistan. What do we do about China? What do your colleagues you worked with, what what do people actually who defend this country think we should be doing with China? Yeah.Kellen Curry: Yeah. Well, first and foremost, we have to not overreact. China for sure is a is a near-peer competitor, as we say, in the military. And so they absolutely should be taken serious. But they have a lot of issues and challenges, social challenges on their end, you know, so so it's not like we're going up against an adversary that we cannot be successful in. I think, you know, going back to the innovative economy that I mentioned earlier, we have to make sure that we remain an innovative and capitalistic economy that can produce technologies of the future. You know, you think about you think about China, so much of what they want to you know, how they want to. Place American superpower is, is really through AI and quantum computing and biotechnology and these other things. So we have to continue to make those investments. We also have to do things. For example, the Merchant Marine Academy is located here in my district. And so when you think about how do we sustain naval power in the South China Sea, the merchant Marines are on the front lines of making sure that we're able to do that because they transport so much equipment and personnel into the South China Sea. So those are just a few things, a couple of things I would say. And then maybe the last is that we have to reinvigorate our all volunteer military force, which is at an all time low in terms of our propensity for people to serve.Sam Stone: And I want to talk more about that. And and the merchant Marine issue you brought up Kellen Curry. We're coming right back with more from him. He's running against Jorge Santos in New York's third Congressional District, breaking battlegrounds. Back in just a moment.Advertisement: At Overstock. We know home is a pretty important place and that's why we believe everyone deserves a home that makes them happy. Whether you're furnishing a new house or apartment or simply looking to update and refresh a few rooms. Overstock has every day free shipping and amazing deals on the beautiful high quality furniture and decor. You need to transform any home into the home of your dreams. Overstock Making Dream homes Come True.Sam Stone: Welcome back to Breaking battlegrounds with your host, Chuck Moran. I'm Sam Stone. We're going to be continuing on in just a moment with more from Kellen Curry, congressional candidate running against Jorge Santos in New York's third Congressional District. But before we do, folks, how's that portfolio of yours doing? Are you making money in this stock market, this Biden economy working out for you? It doesn't seem to be working out for most people. That's why Chuck and I recommend you check out our friends and invest. Why refy.com Go to their website. Invest y refy.com Learn how you can earn up to 10.25% fixed rate of return. That's right up to 10.25% fixed. You can turn your monthly income on or off, compound it, whatever you choose. There's no penalty to your principal if you need to withdraw your money early. This is a fantastic opportunity. So check it out. Go to investyrefy.com or give them a call at 888 yrefy 24 and tell them Chuck and Sam sent you.Chuck Warren: Well, we're with Kellen Curry here. He is running for Congress in New York, three against Jorge Santos. And you can learn more about him at Kellen Currycomb. Sam wants to follow up with some questions on the Merchant Marines.Sam Stone: Go ahead, Sam. Yeah, so that's actually Kellen, thank you for bringing that up because that's actually something that hasn't come up here before. I know a little bit about it from a friend who went through the Merchant Marine Academy. But one of the big underlying issues to national security that I don't think most people understand is our ability to transport goods and troops in wartime crisis. And to do that, you need US flagged carriers and we don't have many of them. And that's a huge issue. And we don't have enough merchant marine sailors. And that's another huge issue.Kellen Curry: Absolutely. I mean, if you if you think about it, over 90% of the ships that come in and out of American ports are, you know, our foreign crews. And so you could expect that in a conflict that China, they will do all they can to put pressure on those foreign crews and on those host governments not to make good on deliveries to our ports. And we saw what can happen with this during the pandemic. You know, when store shelves went bare and, you know, the American economy was crippled, supply chains became dislocated. So we have to be able to continue our economy even if we do get into, you know, a a hot war, if you will, in the South China Sea with with China. But, you know, to your other point, the vast majority of the military's equipment and personnel actually moves on sea. And so we have to have that capability. It has to be something that's real and that's a deterrent effect and that China understands that we can sustain ourselves in a in a naval, you know, in a naval conflict or just a naval operation in in the in that region, particularly in the South China Sea. And so, so much of this capacity over the last, you know, three or 4 or 5 decades has really left our country. And it's it's been outsourced. And so we have to work and think about how we bring more of that capability back to America. You know, we've seen industrial policy in the microchip space, and we're going to have to do a industrial policy to bring the merchant marine presence back to our country, increase the number of sealift officers, the number of merchant Marine officers, which the Merchant Marine Academy produces. And this is you know, this is one of the crown jewels of our district. It's one of the crown jewels of the nation. We need a strong federal partner for that academy. And I look forward to being that in Congress.Sam Stone: You know, one of the things I think that's underreported also, we had a different congressman on our program. Hopefully you'll be joining him in office fairly soon. But one of the things he pointed out was China's aggressive efforts via both partnership and intimidation to essentially deny that chain of Pacific islands that the US used in World War Two to eventually get to Japan. But China realizes that that chain is is our ladder in a Pacific war with them, and they're really doing a lot to take it away. You talk about that ability to deliver equipment that becomes doubly critical in this situation where we can't count on our ability to fly troops and resources into those islands.Kellen Curry: Absolutely. Absolutely. And so much of so much of how we posture to be successful against China is really going to depend on our allies in that region to make sure that we have basing options, that we have places where we can stage and host our troops and our and our equipment in a way that that China can't can't penetrate. And so it's positive that we recently had a trilateral at Camp David with some of the nations there, mainly Japan and South Korea and America. Of course, Japan and South Korea have been, you know, at odds for quite some time. And so our ability to bring those nations together is extremely important. The administration just you know, we did a big bill out of the House that eventually passed the Senate and was signed into law to. To deliver more aid to Taiwan in a way that we haven't done in the past. And so I think the administration just released about two. 2 billion or so to make sure we operationalize that that that that legislation. So that's that's a good thing. I mean, one thing about America that's unrivaled is our alliances around the world. I mean, it's a tremendous source of soft power, the ability of an American president to pick up the phone and call somebody anywhere in the world. And, you know, eight, nine times out of ten get a favorable response is is really, really important. It's going to be important against against the fight against China. So it's good that we have an administration that recognizes that. And that's one area that I do support this administration on.Sam Stone: See, Chuck, I love it when we get congressional candidates and people running for office for the first time who can talk about this whole variety wide range of geopolitical issues, because that kind of knowledge. Kalen Curry that you're just displaying is is rare for people who are entering Congress. And folks, you need to check him out and follow him at Kellen Kellen underscore Curry on Twitter. You can go to his website. Kellen Curry.com Definitely go and check him out there and support this man because we need to bring we need to retain control of Congress. We need smart people there who can talk about issues like we've been talking about. And also we need to restore some integrity to this specific seat, because, quite frankly, Jorge Santos is an embarrassment to every Republican in this country.Chuck Warren: He's a bad Saturday Night Live Saturday Night Live skit. Kellen, let me ask you this question. There's two reasons. There's a couple reasons why you said you were running for office besides obviously your service in the Air Force and your tours in Afghanistan. One was running against Jorge Santos because he's ineffective. But number two, you've cited Joe Biden's withdrawal from Afghanistan and you called it a disastrous withdrawal. Talk about it a little bit, what that meant to you and the people you served with over there.Kellen Curry: Oh, yeah. Yeah, it was it was heart wrenching, you know, I mean, I spent two tours there. I worked, you know, actually I worked on an old Russian base we were embedded with with our Afghan allies working shoulder to shoulder. It was a very interesting unit. I was I was attached with, you know, we had actually bought about 30 helicopters from the Russians, actually when relations were good in the early 2000. And we were trying to outfit these with new armaments for what was essentially the Afghans, like 82nd Airborne helicopter unit. And so we were doing that work. My job was to do all we could to keep these things in the air and provide all the procurement necessary to do that and to teach the Afghans how to do that as well. And so, you know, you go through things like that. You travel the country doing that work, and then you turn on and you come home and you turn on CNN and you see, you know, people clinging from planes and just the chaos and certainly the 13 Marines that we lost. And there was just there was a better way to exit that country that did not leave, you know, America diminished on the global stage.Kellen Curry: And I think watching that, certainly every veteran that spent time there watching that and then, of course, you know, by going to the Air Force Academy, I had friends that went there that unfortunately did not come back home. And, you know, you internalize all that and and it moves you, you know, emotionally. And then you look over and you see we have somebody here in Congress who's just wholly unfit. And the fact is that our veterans and the American people writ large, they deserve the best leadership that our country can provide so that we can avoid those situations, but also so we can have trust that the agenda that our elected representatives are pursuing is, is the agenda of the people and not their own personal agenda. And so, you know, all of those things, I think moved me to to think about how I could serve again. And and this was something that that that came up. And I did a lot of the research and asked a lot of the questions and eventually got to the point where I decided to go for it. And here I am.Chuck Warren: Well, we certainly need more leaders like you in Congress and you've had some great life experiences. So, for example, you ran the 60m at the Air Force Academy. What did track and field teach you about leadership?Kellen Curry: Yeah, you know, I've always been active in sports. And I think, you know, for me as an athlete, you know, you've got mom and dad there to, you know, to make you into the person that that you that you eventually become. But but something happens in that relationship with coaches and with athletes that's just special. And it enriches the life of a young person. You know, Track did that for me. High school football did that for me. I still stay in touch with coaches from high school. Wait, what.Sam Stone: Position did you play? We got to we got to get the important stuff in here.Kellen Curry: Yeah, I was a I was a defensive back. I didn't have any hands, so I couldn't catch anything. So they put me on that side of the ball. But. But yeah, man, I enjoyed sports of all kind and just the relationship building. Being in the team building and in the lessons that you learn from those experiences, they just make you a well rounded person and and enjoy traveling the country and running track at the Air Force Academy. It was a real highlight for me.Sam Stone: All right. So so now we know you were a DB. So the important question becomes, are you a Deion Sanders DB or are you covering everybody, locking them up or are you Troy Polamalu? You're coming in there to knock their head off?Kellen Curry: I'm covering them up, man.Chuck Warren: Yeah, Yeah. You're a blanket.Kellen Curry: Yeah. Yeah. I mean, I was only like £160 soaking wet, so there wasn't a whole lot of hitting I could do, but. But I could run and I could run and chase and cover folks. And so, so really enjoyed the ups and downs of what you learn in that sport and just in sports in general. So really enjoyed competing.Chuck Warren: You worked in investment banking after the Air Force One issue you're going to have to deal with when you're elected is our deficit in national debt are it's just not a path we can continue. What do you propose we do on it? How do we pay down our debt? How do we get our finances in order?Kellen Curry: Yeah, I think the first thing we have to do is we have to be honest with the American people about where we are. I mean, the fact is we're not going to cut our way out of this hole. We're not going to, you know, grow our way out of the hole in terms of, you know, achieving, you know, astronomical GDP growth rates year over year. I think in order to bend the curve on the debt, we're going to have to get away from annual deficit spending at some point. And and listen, we are transitioning right now from a low interest rate environment to a high interest rate environment. So the interest on the debt is going to become more material than what we've seen in the past, and it's going to create more pain. So, you know, some of the first things that I think we're going to have to do is we're going to have to get our arms around how do we make our entitlement programs more solvent. We know that Social Security and Medicare and Medicaid, these programs are going to become insolvent here in the next ten, 15, 20 years. And so we've got to get serious about how do we restructure these things and do it in a way where Democrats aren't going to go out and say, oh, here comes the Republicans again. They're going to end these programs as you know it and all that. So so we have we need presidential leadership on this issue to move the country in this direction and get serious about it, because it will become something that that begins to crowd out what we can do in the defense space, the investments that we have to make there, and certainly the investments that we have to make on the domestic side as well. But but the entitlement programs is something that's going to be a forcing a forcing function that makes us get real about how we spend and how we allocate money. We definitely need more members of Congress who are going to hold the line on spending as we go forward here in the next several decades.Sam Stone: Kellen, we have only about two minutes left here before we let you go. What has been the initial response from folks on the ground there in the third Congressional District in New York? You know, as they're learning about you and that you're taking on Santos in this race.Kellen Curry: You know, it's been tremendously positive. I think a lot of a lot of what was in the trajectory of the Santos story, I think at this point here, you know, people on the ground are just kind of sick and tired of hearing about the guy.Chuck Warren: So.Kellen Curry: You know, they they are they are hungry for what comes next. We are the first campaign that's been out there on doorsteps and the reaction has been positive. They want to know who the candidates are, what they're talking about, what their ideas are for moving the district forward. And they're ready for the stain of of of Mr. Santos to be removed. And so I think at this point, we've all kind of learned our lesson, that we have to wake up and make sure we're paying attention in these elections, that we get out and vote and that we know who we're voting for. And so I think you're going to see a lot of people who are just excited about about doing that work as citizens and taking responsibility to make sure that they get to know the candidates. They're getting to know me. I think they like what they hear and what they see, and I think we're going to be successful here.Sam Stone: I love that folks. Thank you so much, Kellen Curry. We really appreciate having you on the program today. Folks. You can follow him at Kellen underscore Curry on Twitter at Kellen Currycomb. Make sure you tune in to breaking battlegrounds next week when we're back on the air. But in the meantime, we always have a little extra segment for our podcast listeners. Go to all your favorite podcast places, download us subscribe, and we'll see you next week.Advertisement: The 2022 political field was intense, so don't get left behind in 2024. If you're running for political office, the first thing on your to do list needs to be securing your name on the web with a your name Web domain from GoDaddy.com. Get yours now.Sam Stone: All right, Welcome to the podcast. Only segment of breaking battlegrounds. Folks. Thank you for tuning in as always. And special thanks to Congressman Russell Fry and Kellen Curry for their appearances today. Fantastic discussions from them. But now we're continuing on with somebody that, frankly, Chuck, I always loved talking to him more than almost any of our guests, friend of the program and repeat returning guest Henry Olsen, Washington Post columnist and senior fellow at the Ethics and Public Policy Center. Henry, thank you so much, as always, for joining us.Henry Olsen: Well, thank you, as always for having me back.Chuck Warren: Henry, Tell us about your new podcast, by the way. Let's get a plug for it. Tell us about it. Sure.Henry Olsen: My new podcast is called Beyond the Polls, and I interview leading election analysts and poll analysts every two weeks. And we talk about all things political. We talk about the Republican race and we talk about where Biden is. And I always have somebody from one of the key swing states in my segment called State of Play, where the person who's on the ground knows the state best can give you the lowdown. So it's every two weeks you can find it on all the podcast formulas.Chuck Warren: So since you've been doing that, tell us something that has stood out to you, talking to your guests, a little nugget that has stood out to you.Henry Olsen: The importance of what I'm calling the double doubters, that if you go back to 2016, the reason the polls were upended is that 18% of Americans didn't like Hillary Clinton and Donald Trump, and they switched in the last week from being undecided or third party voters to backing Trump over 20%. My pollsters, analysts are telling me, are double doubters with respect to Biden and Trump. And that's before the mudslinging between them really starts in earnest. That sounds to me like if we do get the rematch that the polls suggest, we're going to get the same sort of late break that may confound the experts.Chuck Warren: So that perfect segue into your your column this week. Trump might have the lead in Iowa, but he has one big weakness. What is that weakness?Henry Olsen: That weakness is churchgoing evangelicals, that they are the group that has swung behind one candidate and propelled them to victory in each of the last three caucuses. Actually, the last four. They gave George W Bush a narrow plurality in 2000. And I spent a week there. And the polls say he's got a lot of support among evangelicals, but the people on the ground may be willing to back him, but they're looking around. They want to see is there somebody better, somebody who supports our values, supports our issues and doesn't have the baggage? Iowa evangelicals historically break late. They wait until the last few months to make a decision. So it's not saying Trump isn't going to win, but don't be surprised if you see them switch to somebody who they think can give them 80% of the fight with 10% of the baggage.Sam Stone: Now, is it just the baggage or are there specific policies that Trump is weak with them on? The one that popped to my mind was Covid and allowing the closure of churches. Is there something like that that's playing?Henry Olsen: I'll tell you, I was surprised in my conversations at the lack of policy disagreements. I would have expected more of the evangelicals to note things like that, but also note his backing away from a strongly pro-life stance, saying that the whole point of overturning Roe was to negotiate without saying what he actually stands for. I did not get that from anybody. I really got a question of that. His long standing concerns about his character remain. And the question of is this guy so tied down by his character and legal problems that he can't effectively beat Joe Biden. And they're really scared of Joe Biden.Chuck Warren: They should be. They should be. Let's do a little switch here and let's talk about the Hunter Biden stuff. Do you feel look, you're in D.C.. You're a columnist for The Washington Post. Do you feel what people call the legacy media is really starting to pay attention to this issue or are they still trying to just sweep it under the floor mat?Henry Olsen: You know, I would say it's between and it depends on which legacy media outlet you're talking about. There's beginning to be enough there, there. Right. You know, in the sense that you just can't ignore some of the things that are now being said under oath as opposed to things that were being speculated about or which relied on, you know, on emails, copies of emails found on laptops. And so I think we're only 1 or 2 revelations away. If those revelations exist of the legacy media actually having to pay much more attention to it. I think they're no longer in the sweep under the rug. They hope that it goes away. But if it doesn't, I think there's been enough there that they actually will have to turn their attention to it.Chuck Warren: Do you find any reasonable explanation why he would have 5000 emails under an alias?Henry Olsen: A reasonable explanation? Yeah.Chuck Warren: I mean, look, I mean, the easy way to handle this is just release them all. If there's nothing there, there's nothing there. Just make it transparency and embarrass the Republicans. That's an easy way to handle this, right? If there's nothing there.Henry Olsen: Yeah, well, I never want to get into the argument that stereotypically is offered by autocratic police departments. If you have nothing to fear, you have nothing to hide.Sam Stone: Guys, guys, I don't know this. I've got to say, this is like going when you've got this. This is like going to the ATM after 3 a.m. Nothing good is going to come from this. When you have fake email addresses and you're in office, nothing good is ever going to come from that.Henry Olsen: Yeah.Henry Olsen: You know, the thing is, I can imagine reasons you would want to do it like evade, you know.Sam Stone: Like did you see Gretchen Whitmer's guy communicating with her in Greek alphabet letters?Chuck Warren: Oh, that's cool.Sam Stone: To avoid FOIA.Henry Olsen: Yeah. No, I hadn't. I hadn't heard about that one. You know, just goes to show they all should have been watching Bill and Ted because I.Chuck Warren: Think there's.Henry Olsen: Greek alphabets when Bill interviewed Socrates. But.Henry Olsen: You know.Henry Olsen: I can imagine good reasons for 5000 emails under multiple aliases, depending who he's communicating with. But again, the thing is, at some point, we're going to find out at least some of them. And if they aren't benign, you know, like personal stuff, that you just don't want to have somebody you know, somebody who's you're concerned about hacking and they'll looking for the words Joe Biden. I could imagine that if you were a foreign government and you might want to have malware placed on Joe Biden's personal friends and anything that says Joe Biden gets sent to Beijing. Yeah, I can imagine that as a vice president and wanting to avoid things like that. But again, we'll see whether eventually some of these will be produced. May not be 5000, may be 200, maybe 500. And we'll see what they say.Chuck Warren: Interesting. If we wrap up here, anything you think we should be looking for here in news the next month or two? Something that's going to pop up that you feel we should keep our eyes on?Henry Olsen: You know, I think there's the usual, you know, who knows what's going to happen in the counteroffensive in Ukraine? Who knows what's going to happen with the Chinese economy. I would say, though, that, you know, the second debate is going to take place at the end of the month, September 27th, out at the Reagan Library. And it's going to be make or break time for some of these people. You know that the one in Milwaukee was really kind of first impression, kind of like speed dating. The second one is going to find out whether anybody wants to return the phone call. And so I think you're going to see a little bit more fire, a little bit more opposition. And it could be that somebody breaks out or somebody crashes to the earth.Sam Stone: I would like to see a couple more people drop out before then. I would narrow it to 4 or 5 maybe.Chuck Warren: I think what's really impressive is the cultural references Henry's used today speed dating and Bill and Ted. That's the most amazing thing of this aspect today. One last question. One last question, Henry. I think Republicans have a really good chance of taking the Senate. What are your thoughts?Henry Olsen: Absolutely. I think they should be the favorites. Even if Biden wins re-election. That has to do with the math. Yes. You know, so poll came out today or yesterday from a respected pollster showed Jon Tester only getting 43% against either of his opponents, Sherrod Brown. There's been polls show that Brown's in a neck and neck race. But the important thing is where is the longtime incumbent? And he's sitting at 45%, which is roughly around where a Democrat should get flip those two seats. The Republicans control the Senate. And then you've got all the other seats. This is a map that heavily favors Republicans. Joe Manchin haven't even mentioned him. You know, these are three states that Trump carried by between 6 and 30 something points. It's just hard to see where Republicans don't get those 2 or 3 seats. And then it's very hard to see how they would lose other seats that they hold given what are up to throw control back to the Democrats?Chuck Warren: Well, being a Republican, I have complete faith my party can blow it one way or another. So amen.Sam Stone: Amen. Our skills are legendary.Chuck Warren: Henry Olsen, thanks a million for visiting with us today.Henry Olsen: Thanks for having me on.Chuck Warren: Folks. This is breaking battlegrounds. We hope you've enjoyed this week's show and we'll be back next week. And if you can visit us at Breaking Battlegrounds or anywhere you find your podcasts. Have a great weekend. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit breakingbattlegrounds.substack.com

The FTC has proposed a complete overhaul of filings related to the Hart-Scott-Rodino (HSR) Act. In this episode of Committed Capital Sidecar, Dechert's James Fishkin, Rani Habash and Beverly Ang discuss the key proposals likely to impact private equity firms and deal timing.

President Biden signed a highly anticipated Executive Order on August 9 to establish the foundation for a U.S. outbound investment regime. In this podcast, Dechert national security partners Jeremy Zucker, Darshak Dholakia and Hrishikesh Hari examine the Biden Administration's proposal and related considerations for the private equity community.

Banks have reduced their lending activities to private companies of all sizes over the last 10 to 15 years and bank regulators have continued to pressure banks to remain on the sidelines in this lending market. Private credit providers have not only stepped in to fill this void, they have also significantly grown their share of the large company lending market. This explosive boom in private lending has been supported by larger fundraising vintages and expanded origination capabilities, including offering competitive lending terms compared to the bank and syndicated loan markets. What are the drivers behind this growth, and where is the market headed? In this episode, Dechert's Harry Pangas leads a discussion with Saratoga Investment Corp.'s Chris Oberbeck on what makes private credit attractive to borrowers, investors and money managers, and the trends that will shape it in the years to come.  

Joe and Chris talk about law school, layoffs, and basic decency. After law schools threw a public tantrum over the U.S. News and World Report ranking, with several withholding key data required to create a credible list, the rankings are now out and... they have serious credibility problems. Missing data, important factors glossed over, and shady employment accounting from the schools result in a broken list. Congratulations boycotting schools! You've managed to make it all worse. Meanwhile, in Ohio a pregnant lawyer sought a continuance after being put on emergency bed rest and got denied by the state supreme court because screw your human frailties. Finally, Dechert joins the layoff trend with a 5 percent global cut. As always, we wonder if this has broader significance or not.

Joe and Chris talk about law school, layoffs, and basic decency. After law schools threw a public tantrum over the U.S. News and World Report ranking, with several withholding key data required to create a credible list, the rankings are now out and... they have serious credibility problems. Missing data, important factors glossed over, and shady employment accounting from the schools result in a broken list. Congratulations boycotting schools! You've managed to make it all worse. Meanwhile, in Ohio a pregnant lawyer sought a continuance after being put on emergency bed rest and got denied by the state supreme court because screw your human frailties. Finally, Dechert joins the layoff trend with a 5 percent global cut. As always, we wonder if this has broader significance or not.

In recent months, debt financing for new acquisitions and recapitalizations has become more difficult to source. When available, it is also more expensive and subject to stringent conditions amid continued macroeconomic challenges and prolonged high interest rates. Where does PE financing stand and what does the current challenging market mean for the future deal dynamics?  In this episode, Dechert's Soo-ah Nah leads a discussion with Anne-Marie Peterson of Baird and Scott Grass of Main Street on the latest market trends and conditions.

Today's distressed market faces headwinds as a result of macro uncertainty, rising inflation and increasing financing costs. What are the opportunities and challenges for private equity investors and their investment strategies in the current environment? In this episode, Dechert's Stephen Zide leads a discussion with Kevin O'Neill of KKR and Michael Schwartz of SVPGlobal on the latest developments and considerations relating to workouts and restructurings. 

Chris Field, who co-leads the law firm's private equity practice and corporate group, sits down with Spotlight to discuss club deals, GP stake sales and creative deal structuring.

Today's private equity landscape stands in contrast to the anomalous levels of activity in 2021. Rising interest rates, a looming economic downturn and geopolitical tensions have impacted deal activity, yet fundraising and buyouts remain above pre-pandemic levels. How are dealmakers finding creative solutions and opportunities during these uncertain times? In this special episode of Committed Capital, industry leaders from AllianceBernstein, Eurazeo and Primavera Capital Group offer their perspectives on findings from the 2023 Global Private Equity Outlook report published by Dechert and Mergermarket, including the appetite for buy-and-build strategies, the growth of retailization, continued expansion of private credit financing and GP-led secondaries, ESG and more. 

This week on Breaking Battlegrounds, friend of the show Henry Olsen returns with a look at the fight over the debt ceiling. Later, we are honored to be joined in studio by Congressman Dusty Johnson of South Dakota. Finally, we wrap up with a conversation with Monica Eaton, founder of Chargeback 911.-Henry Olsen is a Washington Post columnist and a senior fellow at the Ethics and Public Policy Center. Olsen began his career as a political consultant at the California firm of Hoffenblum-Mollrich. After three years working for the California Assembly Republican Caucus, he returned to school to become a lawyer. Following law school he clerked for the Honorable Danny J. Boggs on the United States Sixth Circuit Court of Appeals and as an associate in the Philadelphia office of Dechert, Price & Rhoads. He then joined the think tank world where he spent the next eighteen years as an executive at a variety of institutions, serving as the President of the Commonwealth Foundation, a Vice President at the Manhattan Institute, and as Vice President and Director, National Research Initiative, at the American Enterprise Institute. He left AEI in 2013 to pursue a career in political analysis and writing at EPPC. During that time his work has appeared in variety of leading publications in America and the United Kingdom. He is the author or co-author of two books, “The Working Class Republican: Ronald Reagan and the Return of Blue-Collar Conservatism” and (with Dante J. Scala) “The Four Faces of the Republican Party”. His biennial election predictions have been widely praised for the uncanny accuracy, and he is a frequent guest on television and radio programs. Olsen regularly speaks about American political trends and global populism in the United State, Europe, and Australia.-Dusty Johnson brings an energetic and optimistic style to Washington as South Dakota's lone voice in the U.S. House of Representatives. A “policy guy,” he works hard to be a knowledgeable and value-added member on issues related to his two primary committee assignments: Agriculture, Transportation & Infrastructure.Prior to being elected to Congress, Dusty served as vice president for Vantage Point Solutions, a South Dakota-based engineering and consulting firm specializing in rural telecommunications.  Vantage Point has more than 200 employees and helps rural providers design, build, and operate broadband systems in 40 states.  Dusty is an expert in state and national telecommunications policy, especially Federal Communications Commission reform efforts and the transformation of the Universal Service Fund.In 2004, Dusty was elected statewide to the South Dakota Public Utilities Commission.  He worked with his colleagues to maintain a fair and reasonable regulatory environment, facilitating the investment of hundreds of millions of dollars into rural energy and telecommunications infrastructure.  In 2010, Governor Dennis Daugaard asked Dusty to serve as chief of staff, the chief operating officer for much of state government.  In that role, Dusty oversaw many of the Governor's top projects and initiatives, especially those related to infrastructure and public safety.Dusty grew up in a large working-class family in central South Dakota.  He has degrees from the University of South Dakota and the University of Kansas.  Dusty has been an active community volunteer, having served as a Sunday School teacher, adjunct faculty member at Dakota Wesleyan University, and president and board member of Abbott House, an agency serving abused and neglected children. He lives in Mitchell with his wife and three sons.  As a family, they enjoy hiking, camping, hunting, and reading.-Monica Eaton is an international entrepreneur, speaker, author, and industry thought leader. Monica founded Chargebacks911 in 2011 to provide a solution to merchants suffering from fraudulent chargebacks and since then, has recovered more than $4 billion in revenue for over 1 million businesses and banks through Chargebacks911 for merchants and its sister company, Fi911 for financial institutions. Monica has received dozens of awards for her innovation and has been featured in publications like The Washington Post, Forbes, FinTech Magazine, and Entrepreneur Magazine.-Connect with us:www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegrounds This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit breakingbattlegrounds.substack.com

Nicole Macarchuk's career as a PE lawyer in-house and at law firms has paralleled the evolution of the asset management industry as PE sponsors, hedge funds and credit funds have increasingly crossed into each other's markets. 

The legal headaches keep piling up for Dechert LLP and the former head of its white collar shop in London, Neil Gerrard. The BigLaw fixture and its ex-partner have been targeted with suits on both sides of the Atlantic alleging a range of systemic corruption. The years-long saga gained new steam over the past week as Dechert now faces fresh challenges in D.C. and New York from an aviation executive and a former journalist with axes to grind against the firm. Joining Pro Say this week to break down Dechert's sprawling plight is Law360 editor-at-large Andrew Strickler. Also on the show, Snapchat is hit with a consumer protection suit over its alleged role in the fentanyl overdoses of its teenage users, and a pair of lawsuits led by former NFL head coaches over the terms of their dismissal begin to align in surprising fashion. Finally, we look at a curious new case over the government's unwillingness to release JFK assassination documents.

David Kris opens this episode of the Cyberlaw Podcast by laying out some of the massive disruption that the Biden Administration has kicked off in China's semiconductor industry—and its Western suppliers. The reverberations of the administration's new measures will be felt for years, and the Chinese government's response, not to mention the ultimate consequences, remains uncertain. Richard Stiennon, our industry analyst, gives us an overview of the cybersecurity market, where tech and cyber companies have taken a beating but cybersecurity startups continue to gain funding.  Mark MacCarthy reviews the industry from the viewpoint of the trustbusters. Google is facing what looks like a serious AdTech platform challenge from several directions—the EU, the Justice Department, and several states. Facebook, meanwhile, is lucky to be a target of the Federal Trade Commission, which rather embarrassingly had to withdraw claims that the acquisition of Within would remove an actual (as opposed to hypothetical) competitor from the market. No one seems to have challenged Google's acquisition of Mandiant, meanwhile. Richard suspects that is because Google is not likely to do anything with the company.  David walks us through the new White House national security strategy—and puts it in historical context.  Mark and I cross swords over PayPal's determination to take my money for saying things Paypal doesn't like. Visa and Mastercard are less upfront about their ability to boycott businesses they consider beyond the pale, but all money transfer companies have rules of this kind, he says. We end up agreeing that transparency, the measure usually recommended for platform speech suppression, makes sense for Paypal and its ilk, especially since they're already subject to extensive government regulation.   Richard and I dive into the market for identity security. It's hot, thanks to zero trust computing. Thoma Bravo is leading a rollup of identity companies. I predict security troubles ahead for the merged portfolio.   In updates and quick hits: The Texas social media law is on hold again, but do not get excited. It is a  voluntary deal designed to speed Supreme Court consideration of a review petition.  Now Ukraine knows how Twitter feels: Elon Musk has changed his mind again. He will not be demanding that Department of Defense pay for the Starlink service Elon rolled out at the start of the war with Russia. After catching Google red-handed in what looks like ideological use of a spam filter, the GOP now appears to be overplaying its hand.  And I predict much more coverage, not to mention prosecutorial attention, will result from accusations that a powerful partner at the establishment law firm, Dechert, engaged in hack-and-dox attacks on adversaries of his clients.

David Kris opens this episode of the Cyberlaw Podcast by laying out some of the massive disruption that the Biden Administration has kicked off in China's semiconductor industry—and its Western suppliers. The reverberations of the administration's new measures will be felt for years, and the Chinese government's response, not to mention the ultimate consequences, remains uncertain. Richard Stiennon, our industry analyst, gives us an overview of the cybersecurity market, where tech and cyber companies have taken a beating but cybersecurity startups continue to gain funding.  Mark MacCarthy reviews the industry from the viewpoint of the trustbusters. Google is facing what looks like a serious AdTech platform challenge from several directions—the EU, the Justice Department, and several states. Facebook, meanwhile, is lucky to be a target of the Federal Trade Commission, which rather embarrassingly had to withdraw claims that the acquisition of Within would remove an actual (as opposed to hypothetical) competitor from the market. No one seems to have challenged Google's acquisition of Mandiant, meanwhile. Richard suspects that is because Google is not likely to do anything with the company.  David walks us through the new White House national security strategy—and puts it in historical context.  Mark and I cross swords over PayPal's determination to take my money for saying things Paypal doesn't like. Visa and Mastercard are less upfront about their ability to boycott businesses they consider beyond the pale, but all money transfer companies have rules of this kind, he says. We end up agreeing that transparency, the measure usually recommended for platform speech suppression, makes sense for Paypal and its ilk, especially since they're already subject to extensive government regulation.   Richard and I dive into the market for identity security. It's hot, thanks to zero trust computing. Thoma Bravo is leading a rollup of identity companies. I predict security troubles ahead for the merged portfolio.   In updates and quick hits: The Texas social media law is on hold again, but do not get excited. It is a  voluntary deal designed to speed Supreme Court consideration of a review petition.  Now Ukraine knows how Twitter feels: Elon Musk has changed his mind again. He will not be demanding that Department of Defense pay for the Starlink service Elon rolled out at the start of the war with Russia. After catching Google red-handed in what looks like ideological use of a spam filter, the GOP now appears to be overplaying its hand.  And I predict much more coverage, not to mention prosecutorial attention, will result from accusations that a powerful partner at the establishment law firm, Dechert, engaged in hack-and-dox attacks on adversaries of his clients.

Summary:Given the legal complexity of just about every aspect of running a company, lawyers are nearly ubiquitous in the corporate world. So, it should come as no surprise that a lifetime in corporate law amounts to an incredible wealth of knowledge and insight that can extend a lawyer's value far beyond just providing legal advice.My guest this week is Henry Nassau, CEO of global law firm, Dechert. First joining Dechert in 1987 and returning in 2003 after a stint as in-house general counsel (and briefly COO) at Internet Capital Group, Henry served as chair of Dechert's corporate and securities group for a combined 14 years, representing private equity sponsors, venture capital firms, public and private corporations, management teams, boards, and special committees regarding corporate and securities matters and advising clients on mergers, acquisitions, dispositions, investments, securities offerings, proxy contests, corporate governance, and general corporate matters. CEO since July of 2016, Henry has played an instrumental role in expanding the Philadelphia-based firm's international platform across Europe, Asia, and the middle east. Today, Dechert has equal representation of lawyers inside and outside of the United States, making them a go-to choice for cross-border matters.Henry and I spoke about the rise and fall of the dot-com bubble as it compares to current market conditions, trends in economic globalization, and why the transition from private equity law to businessperson can be a relatively seamless one.Highlights: Henry outlines the history of Dechert, as well as his own history with the firm (03:29) Henry explains his decision to go in-house at ICG in the late 90s (08:42) Henry unpacks how lessons he learned from the burst of the Internet bubble inform his practice today (13:33) What sets Dechert apart from other firms? (16:53) Henry discusses trends he sees in globalization (18:39) How did COVID affect Dechert and what adaptations seem permanent? (20:38) Henry offers insight on recent market trends (23:53) Links:ICR TwitterICR LinkedInICR WebsiteHenry Nassau BioDechert WebsiteDechert LinkedInFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.

The victims of the catastrophic Surfside, Florida building collapse reached a $1 billion settlement this week with a slew of defendants, resolving what could have been a messy, emotionally charged dispute with unusual swiftness that left the judge overseeing the litigation speechless. On this week's episode of Pro Say, Law360 senior reporter Carolina Bolado drops by to fill us in on the details of the extraordinary resolution and what happens next. Also this week, in light of the baby formula shortage that has swept across the country, we catch up on Abbott's attempt to reopen its formula production plant and other moves the federal government is making to get shelves re-stocked. We also dive into a spot of intrigue out of London this week, as an English court rebuked a former Dechert lawyer who leaked damning information to the government and press about a mining company's alleged corrupt activities. Finally, we end with a fun First Amendment story about a craft brewery's right to put a tiny penis on its label.