Law Commons^™

Regulatory Takings In Climate Change: Geo- Engineering One’S Way Around The Fifth Amendment, Noah Chase

Fordham Environmental Law Review

Picture yourself as the owner of a small business located in the downtown area of a large city; your business consists of a shop and an adjoining parking lot. A new regulation has just been passed which requires any owner of property within the city limits to paint all roofs and parking areas with a new reflective coating, in order to reduce the heat which is absorbed by such structures. The idea of closing your business down for this time, along with other connected issues, scares you, and you begin to wonder if your local government truly has your best …

Arizona V. Navajo Nation And Systemic Failures In The Tribal Water Allocation Scheme, Jennifer Horkovich

Fordham Environmental Law Review

When the United States Supreme Court’s decision in Arizona v. Navajo Nation was published in June 2023, Indian Country was hardly surprised with the Court’s ruling. There, the Court found that the United States had no affirmative duty to affirmatively protect the Navajo Nation’s water rights under the 1868 Treaty.1 The Court was clear: the treaty is insufficient for the Navajo’s current water needs, but the judiciary is unable to step in to find relief.2 This decision is another in a long series of cases on water allocation and the federal reserved water right, where tribes have been unable to …

Environmental Protection, Sustainability And The Prevention Of Satellite Collisions In Outer Space, Yun Zhao

Fordham Environmental Law Review

With space commercialization and privatization continuing apace, more space objects are expected to be launched and put into operation in the future, adding to the already large number of defunct satellites and space debris present in outer space. Hence, serious study should be devoted to possible mechanisms for dealing with potential collisions in outer space for the purpose of realizing environmental protection and space sustainability. In view of the inadequacy of the existing legal regime, this article explores possible such mechanisms (including a preventive mechanism, avoidance mechanism and compensation mechanism) from the perspective of interdependence theory and puts forward a …

That’S No Moon, It’S A Space Station: Determining Ownership Rights On The Moon At The Intersection Of International Treaty And Property Law, Abby Jones

Cleveland State Law Review

The Outer Space Treaty of 1967 asserts in no uncertain terms that no State Party to the Treaty shall claim any part of space, including any part of a celestial body like the moon. Outer space and all its components are the providence of humankind. But how can this be? As states and their private entities continue to expand the outer space market, there are plans for footholds like facilities and stations on the moon that will establish a permanent lunar presence. According to most interpretations of property law, this would establish at least some form of property right at …

Two Heads Are Better Than One: Single Pilot Operation Threatens The Safety Of The Friendly Skies, Alexandria E. Rook

Arkansas Law Review

Boeing’s Maneuvering Characteristics Augmentation System (“MCAS”), an automated piloting system, is only supposed to handle aircraft operations in very specific circumstances. Despite devasting results with MCAS, Boeing has another automated piloting system on the horizon that poses even more grave risks: Single Pilot Operation (“SPO”). Boeing—along

Where To Test A Nuclear Bomb, Tyler Kliegl

The Purdue Historian

The United States detonated three underground nuclear bombs on a far-off Alaskan island called Amchitka in the 1960s and 70s. The goal is to understand what the motive of the United States in selecting Amchitka over the endless potential sites to test at were. What makes a place worthy in being tested on, or unworthy in being left alone. How does the United States deal with resistance from locals and other organizations, fighting to prevent their tests.

Can We Really Be The Change We Wish To See? The Inherent Limitations Of Citizen Suits In Remedying Environmental Injustice Under The Clean Air Act, Alexandra M. George

Villanova Environmental Law Journal

No abstract provided.

Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain

Seattle University Law Review

The Berle XIV: Developing a 21st Century Corporate Governance Model Conference asks whether there is a viable 21st Century Stakeholder Governance model. In our conference keynote article, we argue that to answer that question yes requires restoring—to use Berle’s term—a “public consensus” throughout the global economy in favor of the balanced model of New Deal capitalism, within which corporations could operate in a way good for all their stakeholders and society, that Berle himself supported.

The world now faces problems caused in large part by the enormous international power of corporations and the institutional investors who dominate their governance. These …

Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy

Seattle University Law Review

Professor Frank Partnoy: This is a marvelous gathering, and it is all due to Chuck O’Kelley and the special gentleness, openness, and creativity that he brings to this symposium. For more than a decade, he has been open to new and creative ways to discuss important issues surrounding business law and Adolf Berle’s legacy. We also are grateful to Dorothy Lund for co-organizing this gathering.

In introducing Stephen Johnson, I am reminded of a previous Berle, where Chuck allowed me some time to present the initial thoughts that led to my book, WAIT: The Art and Science of Delay. Part …

Pfas, Planes, And Problems: Pfas Regulation In The Aerospace And Aviation Industries, Emery G. Green

Oklahoma Law Review

No abstract provided.

Route Competition In Hong Kong, Yizhang Qiu, Sinchit Lai

Journal of Air Law and Commerce

Open sky policies have been implemented for decades, giving birth to many airline newcomers from diverse backgrounds lifting off into liberalized skies. EasyJet, Ryanair, Wizz Air, and Southwest Airlines are examples of independent budget airlines, branding the outcome of aviation liberalization and contributing to interoute competition through their networks. However, Hong Kong International Airport, which aspires to be a better and greater air hub, is crowded with local carriers, and the airport flight timetables rarely show the presence of non-local budget airlines or competing routes. This Article examines the importance of interoute competition and the role that budget airlines play …

Book-And-Claim System For Sustainable Aviation Fuels, Christine Kranich, Sarah J. Haas

Journal of Air Law and Commerce

This Article provides an overview of the regulatory (legal) framework in which the decarbonisation of aviation is embedded, with a focus on European law. The Article further provides updates on EU-ETS, CORISA, RED III and the minimum quota of SAF supply in accordance with Refuel EU Aviation up to October 2023. Sustainable Aviation Fuels (SAF) will be described in detail in this Article, and it is further explained that the use of SAF could significantly contribute to aviation becoming “greener”. As the availability of SAF is still rather scarce, the Article revolves around a mechanism of a global book-and-claim system …

Capitalism Stakeholderism, Christina Parajon Skinner

Seattle University Law Review

Today’s corporate governance debates are replete with discussion of how best to operationalize so-called stakeholder capitalism—that is, a version of capitalism that considers the interests of employees, communities, suppliers, and the environment alongside (if not before) a company’s shareholders. So much focus has been dedicated to the question of capitalism’s reform that few have questioned a key underlying premise of stakeholder capitalism: that is, that competitive capitalism does not serve these various constituencies and groups. This Essay presents a different view and argues that capitalism is, in fact, the ultimate form of stakeholderism. As such, the Essay urges that the …

Stakeholder Governance As Governance By Stakeholders, Brett Mcdonnell

Seattle University Law Review

Much debate within corporate governance today centers on the proper role of corporate stakeholders, such as employees, customers, creditors, suppliers, and local communities. Scholars and reformers advocate for greater attention to stakeholder interests under a variety of banners, including ESG, sustainability, corporate social responsibility, and stakeholder governance. So far, that advocacy focuses almost entirely on arguing for an expanded understanding of corporate purpose. It argues that corporate governance should be for various stakeholders, not shareholders alone.

This Article examines and approves of that broadened understanding of corporate purpose. However, it argues that we should understand stakeholder governance as extending well …

Going Forward: The Role Of Affirmative Action, Race, And Diversity In University Admissions And The Broader Construction Of Society, Steven W. Bender

Seattle University Law Review

The third annual EPOCH symposium, a partnership between the Seattle University Law Review and the Black Law Student Association took place in late summer 2023 at the Seattle University School of Law. It was intended to uplift and amplify Black voices and ideas, and those of allies in the legal community. Prompted by the swell of public outcry surrounding ongoing police violence against the Black community, the EPOCH partnership marked a commitment to antiracism imperatives and effectuating change for the Black community. The published symposium in this volume encompasses some, but not all, the ideas and vision detailed in the …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

The Sec, The Supreme Court, And The Administrative State, Paul G. Mahoney

Seattle University Law Review

Pritchard and Thompson have given those of us who study the SEC and the securities laws much food for thought. Their methodological focus is on the internal dynamics of the Court’s deliberations, on which they have done detailed and valuable work. The Court did not, however, operate in a vacuum. Intellectual trends in economics and law over the past century can also help us understand the SEC’s fortunes in the federal courts and make predictions about its future.

Three Stories: A Comment On Pritchard & Thompson’S A History Of Securities Laws In The Supreme Court, Harwell Wells

Seattle University Law Review

Adam Pritchard and Robert Thompson’s A History of Securities Laws in the Supreme Court should stand for decades as the definitive work on the Federal securities laws’ career in the Supreme Court across the twentieth century.1 Like all good histories, it both tells a story and makes an argument. The story recounts how the Court dealt with the major securities laws, as well the agency charged with enforcing them, the Securities and Exchange Commission (SEC), and the rules it promulgated, from the 1930s into the twenty-first century. But the book does not just string together a series of events, “one …

After Affirmative Action, Meera E. Deo

Seattle University Law Review

This is a time of crisis in legal education. In truth, we are in the midst of several crises. We are emerging from the COVID pandemic, a period of unprecedented upheaval where law students and law faculty alike struggled through physical challenges, mental health burdens, and decreased academic and professional success. The past few years also have seen a precipitous drop in applications to and enrollment in legal education. Simultaneously, students have been burdened with the skyrocketing costs of attending law school, taking on unmanageable levels of debt. And with the Supreme Court decision in SFFA v. Harvard, we are …

Front Matter

Journal of Air Law and Commerce

No abstract provided.

Tort Claims Arising From Military Aircraft Crashes Are Not Preempted By The Federal Aviation Act, Timothy A. Loranger, Crawford Appleby

Journal of Air Law and Commerce

The Second Circuit's landmark ruling in Jones v. Goodrich Pump & Engine Control Sys., Inc. establishes crucial precedent by asserting that tort claims stemming from military aircraft crashes are not field or conflict preempted by the Federal Aviation Act (the Act). This decision, the first of its kind at the appellate level, carries far-reaching implications. The court’s rationale, grounded in the Act’s plain language, emphasizes that “public aircraft,” including military ones, are exempt from Federal Aviation Administration regulation. Title 49, section 44701(a)(1), explicitly excludes public aircraft from the Act’s purview. While the court’s analysis relies on the Act’s text, it …

Asset-Based Financing For Space Activities, Francesca Giannoni-Crystal

Journal of Air Law and Commerce

The space industry—whose numbers are already substantial—has undeniable potential for further growth. However, because it no longer consists of only multibillion-dollar companies, the industry needs access to traditional financing. Venture capital alone is insufficient. This Article discusses some difficulties for the space industry’s access to traditional—and especially asset-based—financing. Some are common to all space activities, while some exist only for novel space activities. These difficulties cover a broad range of legal, regulatory, and factual issues (including insurance). While the problems are difficult, ideas to solve them are plentiful, a number of which the paper discusses. The paper also presents ways …

Space Mining, Isabelle M. Thibault

Journal of Air Law and Commerce

The Outer Space Treaty, the leading source of law for activities in space, has laid out various limitations and regulations regarding actions in space and how space can be used. One of these limitations is commonly referred to as the “non-appropriation principle.” The non-appropriation principle prohibits nations from making claims of sovereignty over celestial bodies in space. This presents a problem as the space industry continues to progress because it causes uncertainty regarding the meaning of appropriation, what is classified as a celestial body, what acts are allowed, and who specifically is prohibited from acting. This Comment identifies these problems …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Public Primacy In Corporate Law, Dorothy S. Lund

Seattle University Law Review

This Article explores the malleability of agency theory by showing that it could be used to justify a “public primacy” standard for corporate law that would direct fiduciaries to promote the value of the corporation for the benefit of the public. Employing agency theory to describe the relationship between corporate management and the broader public sheds light on aspects of firm behavior, as well as the nature of state contracting with corporations. It also provides a lodestar for a possible future evolution of corporate law and governance: minimize the agency costs created by the divergence of interests between management and …

Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan

Seattle University Law Review

Starting in the 1930s with the earliest version of the proxy rules, the Securities and Exchange Commission (SEC) has gradually increased the proportion of “instructed” votes on the shareholder’s proxy card until, for the first time in 2022, it required a fully instructed proxy card. This evolution effectively shifted the exercise of the shareholder’s vote from the shareholders’ meeting to the vote delegation that occurs when the share-holder fills out the proxy card. The point in the electoral process when the binding voting choice is communicated is now the execution of the proxy card (assuming the shareholder completes the card …

Shareholder Primacy Versus Shareholder Accountability, William W. Bratton

Seattle University Law Review

When corporations inflict injuries in the course of business, shareholders wielding environmental, social, and governance (“ESG”) principles can, and now sometimes do, intervene to correct the matter. In the emerging fact pattern, corporate social accountability expands out of its historic collectivized frame to become an internal subject matter—a corporate governance topic. As a result, shareholder accountability surfaces as a policy question for the first time. The Big Three index fund managers, BlackRock, Vanguard, and State Street, responded to the accountability question with ESG activism. In so doing, they defected against corporate legal theory’s central tenet, shareholder primacy. Shareholder primacy builds …

Corporate Law In The Global South: Heterodox Stakeholderism, Mariana Pargendler

Seattle University Law Review

How do the corporate laws of Global South jurisdictions differ from their Global North counterparts? Prevailing stereotypes depict the corporate laws of developing countries as either antiquated or plagued by problems of enforcement and misfit despite formal convergence. This Article offers a different view by showing how Global South jurisdictions have pioneered heterodox stakeholder approaches in corporate law, such as the erosion of limited liability for purposes of stakeholder protection in Brazil and India, the adoption of mandatory corporate social responsibility in Indonesia and India, and the large-scale program of Black corporate ownership and empowerment in South Africa, among many …

The Need For Corporate Guardrails In U.S. Industrial Policy, Lenore Palladino

Seattle University Law Review

U.S. politicians are actively “marketcrafting”: the passage of the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act collectively mark a new moment of robust industrial policy. However, these policies are necessarily layered on top of decades of shareholder primacy in corporate governance, in which corporate and financial leaders have prioritized using corporate profits to increase the wealth of shareholders. The Administration and Congress have an opportunity to use industrial policy to encourage a broader reorientation of U.S. businesses away from extractive shareholder primacy and toward innovation and productivity. This Article examines discrete opportunities within the …

Robo-Voting: Does Delegated Proxy Voting Pose A Challenge For Shareholder Democracy?, John Matsusaka, Chong Shu

Seattle University Law Review

Robo-voting is the practice by an investment fund of mechanically voting in corporate elections according to the advice of its proxy advisor— in effect fully delegating its voting decision to its advisor. We examined over 65 million votes cast during the period 2008–2021 by 14,582 mutual funds to describe and quantify the prevalence of robo-voting. Overall, 33% of mutual funds robo-voted in 2021: 22% with ISS, 4% with Glass Lewis, and six percent with the recommendations of the issuer’s management. The fraction of funds that robo-voted increased until around 2013 and then stabilized at the current level. Despite the sizable …