Attorney-at-Law

2500 POSTS

In Uncategorized on 08/17/2018 at 16:08

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OLD BILL GETS ON HIS BIKE

In Uncategorized on 08/17/2018 at 16:02

I’m certain y’all will recollect Old Bill Wise, distinguished Chicago attorney and old technophobe. No? How evanescent is the bubble reputation, even when it isn’t in the cannon’s mouth. It’s Friday, it’s hot, so check out my blogpost “(Old) Technophobes, Rejoice,” 12/18/13.

Old Bill Wise is currently involved in the Chicago Tribune case, which is way too big for me, who am “only a general practitioner with very limited experience and mediocre qualifications” to blog.

But Old Bill Wise is going to bat for Laidlaw’s Harley Davidson Sales, Inc., Docket No. 14616-14L, filed 8/17/18. Notwithstanding some recent bad press for Harley-Davidson, Old Bill Wise wants in as amicus curiæ.

IRS objects, but Judge David Gustafson, obliging to young and old, technophilic and technophobic alike, doesn’t even mention what IRS’ objections might be, but welcomes Old Bill Wise’s interjections.

Of course, Laidlaw’s Harley Davidson Sales, Inc., can reply, and IRS’ can sur-reply, taking on both Laidlaw and IRS.

For the backstory on Laidlaw’s Harley Davidson Sales, Inc., see my blogposts “SOL On SOL?”10/16/15, “Obliging, Toujours Obliging,” 1/3/18, and “Obliging Gets Results,” 1/13/18.

Interestingly, I see no motion by Old Bill Wise to file on paper. He must be a quick study.

CUT UNCUT

In Uncategorized on 08/17/2018 at 13:51

8 Cir has a laundry list of factors Judge Kerrigan missed or misapplied in Medtronic, Inc. & Consolidated Subsidiaries, No. 17-1866, filed 8/16/18.

For Judge Kerrigan’s foray into the Comparable Uncontrolled Transaction, see my blogpost “This Is A Memo?” 6/10/16.

Y’all will recall Judge Kerrigan dwelt heavily on the Siemens deal (which 8 Cir calls “Pascesetter”), and did her own mix-and-match with the dueling experts.

8 Cir dissects poor Judge Kerrigan’s 144 pages in just 13 (count ‘em, 13) pages, including concurrence. Siemens grew out of patent infringement, not licensing of intangibles; Siemens had a lump-sum payout, whereas this was a royalty pay-as-you-earn; things other than patents are involved here, and not in Siemens; this is direct licensing, not cross-licensing; litigation risk and product liability weren’t considered in Siemens.

As Mark Twain said when he and and the great Henry Fairfield Osborn reconstructed a dinosaur skeleton, “It is the very way Professor Osborn and I built the colossal skeleton brontosaur that stands fifty-seven feet long and sixteen feet high in the Natural History Museum, the awe and admiration of all the world, the stateliest skeleton that exists on the planet. We had nine bones, and we built the rest of him out of plaster of Paris.” Twain, Is Shakespeare Dead?

But in deference to poor Judge Kerrigan, Judge Wollman (concurring) realizes the problem.

“To conclude, “any search for a ‘comparable uncontrolled [transaction is “undoubtedly quixotic.”” Order, at p. 13 (Citation omitted).

But still Tax Court is bound by Reg. 1.482-1(D)(1).

A minor Taishoff rant follows. These Regs are at least forty years out of date as far as modern business practices are concerned. Judge Kerrigan tried to craft the best result she could while giving lip service to these obsolete impossibilities. Expecting Congress or Treasury to play catch-up with the best brains in the private sector is what gave us the Brewster Buffalo fighter plane against the Mitsubishi A6N Zero.

But wait, there’s more, as the midnight telehucksters say.

As Judge Reinhart died before Altera Corporation and Subsidiaries, No. 16-70496, filed 7/24/18, was published, 9 Cir has a Mulligan going on in October. See my blogpost “Aspirational Goals,” 7/24/18, for the backstory.