Business & Entrepreneurship

On Monday, April 15, President Obama signed legislation rolling back the disclosure requirements of the STOCK (Stop Trading on Congressional Knowledge) Act, which would have required creation of a searchable, sortable database for the annual financial interest forms of 28,000 executive branch employees as well as highly paid Congressional staff. These forms contain detailed information about employees’ assets, outside income and gifts. Former national security officials raised security concerns about this publication requirement. Current employees filed a lawsuit, resulting in a federal court ruling that publishing such information on the web would violate employees’ right to privacy. “Both the court and the National Academy of Public Administration recognized that federal employees have a legitimate right to privacy regarding their personal financial information,” says Kathleen Clark, JD, government ethics expert and professor of law at Washington University in St. Louis.

On Thursday, April 11, the Senate voted to roll back the STOCK (Stop Trading on Congressional Knowledge) Act, limiting the web-based publication of government employees’ personal financial information. This action comes in response to a federal court ruling that such publication violated employees’ right to privacy and a critical report by the National Academy of Public Administration. “The court recognized that the federal employees have a legitimate right to privacy regarding their personal financial information and ruled that the federal government failed to identify a compelling government interest that would justify posting that personal information on the internet,” says Kathleen Clark, JD, government ethics expert and professor of law at Washington University in St. Louis.

Winners of the eight annual YouthBridge Social Enterprise and Innovation Competition (SEIC) and $164,000 in awards were announced April 10. Winning teams represented community and WUSTL social entrepreneurs. Their social venture ideas ranged widely, covering youth, teens, homeless and collaboration among all types of social enterprises.

On April 15, the Supreme Court will hear oral argument in Association for Molecular Pathology v. Myriad Genetics, a case that could answer the question, “Under what conditions, if any, are isolated human genes patentable?” Kevin Emerson Collins, JD, patent law expert and professor of law at Washington University in St. Louis, believes that layered uncertainties make this case an unusually difficult case in which to predict the outcome.

Filibuster has become a popular tool for legislators. “Republicans have held the U.S. Senate hostage despite their minority status and losses in the last election,” says Merton Bernstein, emeritus professor of law at Washington University in St. Louis. “Indeed, the threat of a filibuster enables the minority to exact concessions that the electorate had already rejected in several elections. This sabotage of the democratic process not only shuts down the legislative process, short circuits the confirmation of presidential nominees, but also threatens large foreign purchases of U.S. bonds that lower interest rates for federal, state and business borrowing.”

Think having an “Employee of the Month” program will motivate your workforce? Think carefully. Award programs may actually be less effective at motivating employees than academic literature suggests, finds new research from Washington University in St. Louis’ Olin Business School and Harvard Business School.

Stephen H. Legomsky, U.S. Citizenship and Immigration Services chief counsel, plans to discuss the evolving topic of immigration law at Washington University in St. Louis on Thursday, April 11. Legomsky will present the 2012-13 Tyrrell Williams Lecture, “Immigration and the Role of the Government Attorney.”​

Author and political scientist Cathy Cohen studies American politics and particularly how they affect African-Americans, women and the LGBTQ community – never ignoring the intersections between these identity categories. She will be on campus April 9 to give a lecture titled “Race, Sex and Neoliberalism in the Age of Obama.”

Ronald Levin, JD, the William R. Orthwein Distinguished Professor of Law, has been elected to the American Law Institute (ALI), a national independent organization that focuses on producing scholarly work to clarify and modernize the law. Membership in the ALI is based on professional achievement and a demonstrated interest in improving the law. ALI will also honor the Hon. William H. Webster, JD ’49, with the Henry J. Friendly Medal. One of the ALI’s highest honors, the medal is awarded periodically to individuals who have made significant contributions to the law.

As the U.S. Supreme Court hearings on the Defense of Marriage Act (DOMA) conclude, it looks like the justices are ready to strike down the law, says Gregory P. Magarian, JD, constitutional law expert and professor of law at Washington University in St. Louis. “The crucial thing about this case is that the Court can strike down DOMA without impacting the right or lack thereof of someone to marry,” he says.