Faculty in the News
Dale A. Oesterle Media Hits
The following is a list of selected media coverage for Dale A. Oesterle. The links below will direct you to sites that are not affiliated with the Moritz College of Law. They are subject to change, and some may expire or require registration as time passes.
Professor Dale Oesterle participated in a Q-and-A with the Columbus Dispatch about some of his favorite places to eat around Columbus. One factor he cites as important when deciding where to eat is the friendliness of the owners.
" I find myself eating at places where I know and like the owners — where the owners are good people," Oesterle said. "That’s what matters to me."
Professor Dale Oesterle was quoted in a Cincinnati.com story about Fifth Third Bancorp disclosing in its annual report that it is under investigation by the Securities and Exchange Commission. The story states: “Dale Oesterle, a law professor and securities law expert at Ohio State University, said the SEC appears to be taking issue with how Fifth Third reported some of its numbers. He said the issue could arise from a disagreement over valuation of some loans, how much the banks has reserved for some problem assets or accounting for some loans that have been written off as uncollectible. ‘It’s awful early in the process to get alarmed – sometimes they (the SEC) look at these things and nothing comes of them,’ he said.”
Professor Dale Oesterle was quoted in a New York Times column about Dow Chemical Company purchasing Rohm & Haas. The column states: “Dale Oesterle, a law professor at Ohio State University who writes a business law blog, has described the deal struck by Rohm & Haas and Dow Chemical as a ‘very seller-biased contract.’”
Professor Dale Oesterle was quoted in a CFO.com story about the government’s decision to buy short-term commercial debt from companies. The story stated: “Some observers, such as Dale Oesterle, a law professor at Ohio State University, have been championing such action for weeks, contending that the commercial paper market had to be unhinged form the failing mortgage market. Writing on his blog , Oesterle argued, ‘It would free up the commercial paper markets for all operating companies; and it would let the MBSs [mortgage backed securities] markets in subordinate securities clear.’”
Professor Dale Oesterle was quoted in a Law 360 article about discussions in Congress regarding the proposed bailout bill. The story stated: 'Dale A. Oesterle, a professor at the Michael E. Moritz College of Law at Ohio State University and editor of Business Law Prof Blog, said Democrats were playing 'a game of chicken' with the White House. 'You've got a Democratic Congress, and they're going to want to put in their pound of flesh,' Oesterle said. 'There's not much time,' he added. 'The market right now is running on a projection that the bill's going to come out.'" (Subscription required)
Professor Dale Oesterle published an Opinion Editorial on Sept. 15 in Legal Times about the federal government’s seizure of Fannie Mae and Freddie Mac. He says: “The big winners of last week’s mortgage-company seizures are foreign countries, foreign investors, and Republicans. The seizure would not have happened had it not been an election year.” (Free registration required).
Professor Dale Oesterle was quoted in a Guardian Unlimited story about a lawsuit filed by Anheuser-Busch against InBev after InBev tries to take over the St. Louis-based beer producer. The story states: “Anheuser's lawsuit is likely aimed at trying to slow InBev's efforts to unseat the board and use that delay to negotiate a better takeover price, said Dale Oesterle, a law professor at Ohio State University who specializes in mergers and acquisitions. ‘The primary motivation here is delay,’ he said. ‘You go to the federal judge and ask him to grant you some sort of preliminary restraining order and then you delay the takeover, arguing to the judge that he is going to need some time to sort out the details.’”
Professor Dale Oesterle was quoted in the Cleveland Plain Dealer regarding a Cuyahoga County Common Pleas judge who is trying to save Myers University. The story states: “Dale Oesterle, a law professor at Ohio State's Moritz College of Law, didn't want to weigh in on Myers specifically because he said he hasn't followed the case closely. But Oesterle said, in general, he's ‘very leery of judges running businesses because often it doesn't work out.’ ‘In general in these cases, when the money runs out, they wind up the business,’ he said.”
Professor Dale Oesterle was quoted in a Reuters story regarding Citigroup's sale of a stake in the company to Abu Dhabi's investment arm. The story details the pitfalls and advantages of government-controlled wealth funds. “These (wealth funds) are arms of the government. They're not independent investors,” said Dale Oesterle, a law professor at Ohio State University's Moritz College of Law. "Right now they want money, like all good investors do, which is great. What's worrisome is that at some point these investors could turn into a foreign policy arm of their government.”
Professor Dale Oesterle was quoted on the web site www.hedgefund.net regarding the Stoneridge Investment Partners vs. Scientific-Atlanta and Motorola case before the U.S. Supreme Court. “Oesterle believes the effect of a Stoneridge win might not have been that great, either. Plaintiffs would still have to prove third parties intended to participate in a fraud, and he said most would be clever enough to protect themselves from that. ‘I think the business community really overstated the problems that would be created,’ Oesterle said. ‘They protested almost too much. Now what might happen is because they raised such a stink about it, they’ve got the attention of congress.’”
Professor Dale Oesterle was quoted in the Rochester Democrat and Chronicle regarding the possible sale of Bausch and Lomb. "That company is going to look a lot different," said Dale Oesterle, a mergers-and-acquisitions expert at Ohio State University. "The people in Rochester who think this company is going to look the same and stay the same, that's not going to be true."
Professor Dale Oesterle was quoted in an Advertising Age story regarding the announcement that Bob Nardelli was named the chief executive officer of Chrysler. Oesterle predicted in the story that Nardelli would be quick to cut the company’s advertising budget. “He’s not a public-relations confidence builder, and he’s gruff and arrogant to his people,” said Dale Oesterle, business-law professor at Ohio State University's Moritz College. (Subscription required)
Professor Dale Oesterle was quoted in a Columbus Business First story regarding Roger Blackwell’s decision to likely settle civil charges filed by the SEC against him. “The SEC doesn’t take these lawsuits on a gamble,” said Oesterle, who is not involved in the dispute. “(The SEC) has limited resources and usually doesn’t bring these types of cases unless they have a pretty good chance of winning.” (Paid subscription required)
Professor Dale A. Oesterle was quoted in a Los Angeles Times story about evidence missing in lawsuits filed against U-Haul. The story documents multiple incidents when attorneys have sought pre-trial evidence from the rental company only to find that the evidence had disappeared. Oesterle was quoted as saying that an occasional failure to preserve evidence “may not be an indictment of corporate policy or corporate attitude…. I don’t think you can expect a corporation to have a perfect record.”
Professor Dale Oesterle discusses the affect back-dated stock options are having on the NASDAQ stock exchange in The Street. Delisting rules exist to protect investors from companies that have ceased providing the market with up-to-date information and whose stock prices therefore no longer match the company's fundamentals, explains Dale Oesterle, a securities-law professor at Ohio State University Law School. "In the back of Nasdaq's mind must be the view that there's enough information for these prices to still be pretty accurate and that this is a technical disclosure violation and doesn't affect the fundamental aspects of the company," he says.
Business law Professor Dale Oesterle was quoted in the New York Times regarding the potential takeover of ABN Amro, or its American Unit - LaSalle Bank - by the Royal Bank of Scotland Group, Barclays or the Bank of America. ABN Amro shareholders will now make the decision. “They are going to have to win this vote, and it is going to be hard if they are $3.5 billion short,” said Dale A. Oesterle, a professor at the Ohio State University law school. “What you have is general pressure on both Barclays and Bank of America to throw a little more money into the pot to win the vote.”
In this story from the Columbus Dispatch on the provision in Ohio Governor Ted Strickland's budget that says whenever a public official illegally votes to approve a contract, that contract is invalid, professor Dale A. Oesterle said that it is appropriate for Strickland to address corruption issues, given the scandals in state government during the past two years. But Oesterle said the proposed change might be too drastic, agreeing that when the person or company benefiting from a contract is aware of a conflict and capitalizes on it, the contract should be void. When the person or company getting the contract is innocent or the contract is good for the state, however, Oesterle suggested there should be some leeway to allow it to stand. "It's just a personal opinion there needs to be a more nuanced approach," he said. "It's the difference between being void and voidable."
Professor Dale A. Oesterle is quoted in this story from Law.com on a case (Credit Suisse v. Billing) alleging what one federal appellate court described as an "epic Wall Street conspiracy," the nation's highest court soon will examine the scope of immunity from antitrust claims when federal securities regulations and federal antitrust law collide. The Supreme Court had opportunities to impose antitrust rules on the securities industry in the 1960s and 1970s but refused to do so, said Oesterle. "So at issue is what is the strength of those older cases," he said. Congress, he added, could have changed the laws and given overlapping jurisdiction at any time but did not. Oesterle said he is "sympathetic" to application of the antitrust laws here for policy reasons.
In this article from Reuters on U.S. Securities regulators approving Zions Bancorp.'s market-based methods of valuing employee stock options, professor Dale Oesterle said it may result in high options values for companies in volatile sectors like technology.
In this Columbus Dispatch article on the Tom Noe case, Professor Dale A. Oesterle said that it's rare for the defense in a criminal trial to rest without calling any witnesses. Although Noe's attorneys were able to respond to the charges through their questioning of state witnesses on cross examination, defense attorneys typically try to give a jury an alternative to the prosecution's version of events to raise reasonable doubt, Oesterle said. "Either the lawyers are confident they can show that prosecutors have failed to prove their case, or they don’t have an alternative story," he said.
Professor Dale Oesterle is quoted in this Columbus Dispatch article on Tom Noe's case. Oesterle, who reviewed Noe's operating agreement and other supporting documents recently for The Dispatch, said the contract is fairly standard and does include provisions to limit Noe's liability. But if the state proves there was theft, no contract allows that, Oesterle said. "None of those provisions sanction the use of assets for personal use," he said.
In his regular column for the Boulder Daily Camera, Professor Dale Oesterle writes about the indication that shareholders slowly are gaining a degree of control in American corporations.
Professor Dale Oesterle wrote an op-ed that appeared in USA Today on hedge funds. "Hedge funds take huge risks, and inevitably some will fail. A hedge fund failure is not a national calamity, it is a natural and to be expected part of the industry."
Professor Dale Oesterle discusses high-cost IPO's in his regular column in the Boulder Daily Camera.
In his regular column in the Boulder Daily Camera, Professor Dale Oesterle discusses a recent "tremor" in the legal rules that allow the state of Delaware to be the place of incorporation for more than half of the country's largest, publicly traded companies.
On law.com, Professor Dale Oesterle says that proposed legislation that would give Congress more say over foreign acquisitions of "critical infrastructure industries" has its own dangers. (subscription required)
In his regular column in the Daily Camera, Professor Dale Oesterle writes about the scheduled acquisition of Peninsular & Oriental Steam Navigation Co. of London by Dubai Ports World.
In his regular column in the Boulder (Colo.) Daily Camera, Professor Dale Oesterle says that the number of colossal parachute payments to chief executives of acquired companies is a reminder that corporate governance in the U.S. has serious problems.
Hedge funds are growing like never before. Despite estimates that place the industry's total value above a trillion dollars, funds remain virtually free from the oversight of the Securities Exchange Commission. Moritz Professor Dale Oesterle debates the issue with David Skeel, the S. Samuel Arsht Professor of Corporate Law at the University of Pennsylvania Law School.
In a Cleveland Plain Dealer story about how the Ohio Bureau of Workers' Compensation could have prevented the loss of more than $50 million in potential profit, Professor Dale Oesterle said "it looks like a lot of people were asleep at the switch here."
In a Columbus Dispatch story about the insider trading conviction of former Ohio State University marketing professor Roger D. Blackwell and a pending civil case against Blackwell, Professor Dale Oesterle said the civil trial might resume before the sentencing, which is expected in two to three months.
In his regular column in the Boulder Daily Camera, Professor Dale Oesterle says that Section 404 of the Sarbanes-Oxley Act looks good from 30 feet away, but up close it has some unappealing dents and chips.
In a Cleveland Plain Dealer story about how the Ohio Bureau of Workers' Compensation allowed Alan Brian Bond to continue investing $50 million of its money for at least 18 months after Bond was indicted on charges of taking more than $6.9 million in kickbacks that were billed to his clients, Professor Dale Oesterle said that any sign an investment firm is in trouble requires individual investors to act quickly.
In Professor Dale Oesterle's regular column in the Boulder (Colo.) Daily Camera, he discusses basic versions of government subsidies.
An article in The Lantern summarized the debate on outsourcing, which was held in Saxbe Auditorium on December 1. Professors Peter P. Swire and Dale Oesterle represented opposite sides of the issue.
Professor Dale Oesterle says in his regular column in the Boulder Daily Camera that a judge's willingness to consider liability for a Venture Capital fund behaving more-or-less as many funds often do in the industry is an ominous warning.
Professor Dale Oesterle says in a San Jose Mercury News that lock-up expiries tend to jolt a stock more when there's market uncertainty. The story detailed "lock-up" rules that have kept Google employees from selling shares since the initial public offering two weeks ago. The story also appeared in the Miami Herald, the Wichita (Kan.) Eagle, and the Philadelphia Inquirer.
In his regular column in the Boulder Daily Camera, Professor Dale Oesterle questions why Google is doing an initial public offering.
Professor Dale Oesterle looks at the initial public stock offering by Google Inc. in his regular column in the Boulder Daily Camera.
Professor Dale Oesterle discusses Tyco, Martha Stewart, and other recent trials involving corporate fraud in his regular column in the Boulder Daily Camera.