The American Whistleblower: W. Mark Felt Sr., the associate director of the FBI during the Watergate scandal who, better known as "Deep Throat," became the most famous anonymous source in American history, died yesterday. He was 95.(The Washington Post)
Bankruptcy: For the first time, The White House on Thursday discussed the possibility of forcing General Motors and Chrysler into a managed bankruptcy as a solution to save the companies from financial collapse, The New York Times reports. White House spokeswoman Dana Perino confirmed growing speculation within legal circles that the president and Treasury Secretary Henry M. Paulson Jr. were considering the step
Different Tune: The recording industry is set to drop its legal assault against people who allegedly steal music via the internet, after years and thousands of lawsuits, The Wall Street Journal reports. Instead, the Recording Industry Association of America said it plans to cooperate of Internet-service providers. The trade group has already hashed out preliminary deals with major ISPs, where it will send an email to the provider when it finds a provider's customers making music available online for free.
Quick Work: Deliberating for little more than an hour, a Northern California jury acquitted former Bechtel Corp. global tax manager Mark Muntean on Thursday morning on charges that he caused the company to file a false tax return, reports The Recorder (via law.com). Federal prosecutors said Muntean, an attorney, knew a research and development credit claimed by Bechtel was improper but pushed for it anyway.
Inside Job: Paul Hastings associate Eric A. Holzer, 34, was among four people charged Thursday in a $4.8 million insider trading scheme involving a former Lehman Brothers representative and his wife, reports The New York Law Journal (via law.com) Holzer was allegedly caught on tape discussing the scheme with Matthew Devlin, 35, of Lehman Brothers, whose wife, Nina Devlin, is a partner at the public relations firm Brunswick Group LLC.
Power Couple: The Justice Department on Thursday sued Microsemi Corp. to force the chip maker to discard its $25 million acquisition of Semicoa, a deal the department says is driving prices up and quality down for semiconductors used by the Defense Department and NASA, The Associated Press reports.
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