Prosecutors failed to nail down either conspiracies or crimes during the first five weeks of a federal trial in Delaware for four Wilmington Trust Corp. executives accused of hiding mounting past-due loans, defense attorneys said during acquittal arguments Monday. "The government tells us in its Continue Reading
Why PE Isn’t the Real Reason Retailers Are Going Bankrupt
The idea that private equity backers are to blame for the demise of well-known retailers like Toys R Us, Payless and Claire's is overblown, experts say, and the reality is that the companies fell into bankruptcy because they failed to adapt their business models to combat disruptive and Continue Reading
Wilmington Trust Attorneys Hit Back at Key Government Witness
A defense attorney for a former Wilmington Trust executive peppered a key government witness on Tuesday with assertions that his testimony was less about facts than about avoiding a long prison sentence. You’re worried about saving your butt, right?" asked Steven Wood, attorney for Wilmington Continue Reading
Without a Cat, Mice Feel Free: The ‘Death’ of Kaspersky Lab
Alex Major is extensively quoted in an article that discusses Kaspersky Lab Inc.’s lawsuit to fight its disbarment as a U.S. government contractor.The government’s move against Kaspersky reflects the embracing of isolationism and ‘‘lazy legislating,’’ Major said.‘‘There could have been a way to Continue Reading
Wilmington Trust Execs Say Fed Never Flagged Loan Reports
An attorney for a former top Wilmington Trust Corp. executive noted Tuesday that Federal Reserve examiners never flagged seemingly "significant disparities" in Delaware bank loan reports in early 2009, despite later moves to charge the bank and four top officials for allegedly hiding past-due Continue Reading
Energy Storage CEO Says Industry Is Finally Getting Noticed
Michael Oster is CEO of a local energy storage company, which means he undoubtedly stands to benefit from the latest decree from federal energy regulators. The Federal Energy Regulatory Commission, or FERC, passed a rule at the end of February that puts energy storage on an equal footing with Continue Reading
DOJ Claims ‘Lies’ in Ex-Wilmington Trust Execs’ Fraud Trial
Four former Wilmington Trust Corp. executives "lied repeatedly" about the bank's commercial loan portfolio to regulators, investors and the public in 2009 and 2010, a federal prosecutor said Monday at the opening of the officials' fraud and securities trial in Delaware. Michael P. Kelly of Continue Reading
Firms Must Face #Metoo Situations from Start
Natalie Watson said she knows of some people who view the #MeToo and #TimesUp movements as threats to business. “But I, as a defense attorney, view these movements as opportunities to continue to cultivate the types of cultures that we need in order to achieve our best potential as organizations, Continue Reading
Take 2: Wilmington Trust Execs Again Days Away from Criminal Trial
For the second time in five months, former Wilmington Trust executives are days away from the start of a criminal trial that will determine whether they spend time behind bars. Harra's attorney Michael Kelly claimed the bank was "let go" without even a misdemeanor –– despite numerous felonies Continue Reading
Schools That Can Newark Connects Students with Employers throughout the City
For the last two years, University High School senior Nasia Spencer has been attending a program designed to prepare the city's youth for college and career. She's learned how to write a resume and cover letter and had an opportunity to hone her interview skills with three different companies. "I Continue Reading