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Schedule
28th Annual Ray Garrett Jr. Corporate and Securities Law Institute
May 1 and 2, 2008 • Chicago
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All sessions will take place at Northwestern University School of Law, Thorne Auditorium, 375 East Chicago Avenue, Chicago, Illinois.
Thursday, May 1, 2008
8 a.m.
Registration, Continental Breakfast
8:45–9 a.m.
Welcome and Overview
David S. Ruder, William G. Gurley Memorial Professor of Law Emeritus, Northwestern University School of Law, Chicago
Keith S. Crow, Institute Chair, Kirkland & Ellis LLP, Chicago
9–9:30 a.m.
Understanding the Credit Crisis and Its Fallout — An Orientation
Avy H. Stein, Willis Stein & Partners, Chicago
9:30–10:30 a.m.
The Changing Dynamic between Strategic and Private Equity Bidders
- Competitiveness of bid process
- Current risks in the use of cash vs. stock
- Comparative advantages in a down market
- Trends in hostile tender offers
Session Chair
R. Scott Falk, Kirkland & Ellis LLP, Chicago
Panelists
Michael S. Canmann, Managing Director, Head of Chicago Investment Banking, Citi, Chicago
Charles W. Mulaney Jr., Skadden, Arps, Slate, Meagher & Flom LLP, Chicago
Mark B. Tresnowski, Managing Director and General Counsel, Madison Dearborn Partners LLC, Chicago
10:30–10:45 a.m.
Break
10:45 a.m.–Noon
M&A 2008—Putting Humpty Dumpty Back Together
- The key deal termination disputes and decisions
- Impact on deal process and terms
- Enter the sovereign wealth funds
- SEC developments
Session Chair
Mark D. Gerstein, Latham & Watkins LLP, Chicago
Panelists
Brian V. Breheny, Deputy Director, Division of Corporation Finance , United States Securities and Exchange Commission, Washington , D.C.
Cary A. Kochman, Co-Head, U.S. Mergers and Acquisitions, UBS, Chicago
A. Gilchrist Sparks III, Morris, Nichols, Arsht & Tunnell LLP, Wilmington , Delaware
Robert F. Wall, Winston & Strawn LLP, Chicago
Noon–1 p.m.
Lunch (provided)
1–2 p.m.
Keynote Discussion
The Delaware Perspective II
A Question and Answer Session
Leo E. Strine Jr., Vice Chancellor, Delaware Court of Chancery, Wilmington , Delaware
Moderator
Keith S. Crow, Kirkland & Ellis LLP, Chicago
2–3:15 p.m.
Counseling the Board on Shareholder Activism
- Activist goals: what's in the best interests of shareholders generally?
- The tools employed by activist shareholders
- Responding to activists—near term and long term
- Preparing for and dealing with the activist director
Session Chair
Frederick C. Lowinger, Sidley Austin LLP, Chicago
Panelists
James Cole, Jr., Wachtell, Lipton, Rosen & Katz , New York City
Patrick McGurn, Special Counsel, RiskMetrics Group, ISS Governance Services, Rockville, Maryland
Alan Miller, Co-Chairman, Innisfree M&A, Inc., New York City
Susan A. Willetts, Managing Director, Goldman, Sachs & Co., Chicago
3:15–4:15 p.m.
Issues from the 2008 Proxy Season
- Review of “say on pay” and other key proposals
- Implementation issues
- The future of proxy access
Session Chair
Martin P. Dunn, O'Melveny & Meyers LLP, Washington, D.C.
Panelists
Claudia H. Allen, Neal Gerber Eisenberg LLP, Chicago
Keir D. Gumbs, Covington & Burling LLP, Washington, D.C.
Michael R. McAlevey, Chief Corporate & Securities Counsel, General Electric Company, Fairfield, Connecticut
4:15–4:30 p.m.
Break
4:30–5:30 p.m.
Modern Investor Relations
- The day-to-day “real world” of public company investor relations
- Liability for investor contacts: lessons from the SEC's Reg FD cases
- Complexities of containing earnings guidance
Session Chair
Karl A. Groskaufmanis, Fried, Frank, Harris, Shriver & Jacobson LLP, Washington, D.C.
Panelists
Troy M. Caulkins, Drinker Biddle & Reath LLP, Chicago
Mark A. Steinkrauss, Vice President, Corporate Relations, Telephone and Data Systems, Inc., Chicago
5:30–6:30 p.m.
Reception sponsored by Wolters Kluwer Law & Business
Friday, May 2, 2008
7:45 a.m.
Continental Breakfast
8:30–9 a.m.
SEC Division of Corporation Finance Update
John W. White, Director, Division of Corporation Finance, United States Securities and Exchange Commission, Washington, D.C.
9–10 a.m.
Impact of Disclosure Rules on Executive Compensation Practice — What Should Companies Do in 2009?
- SEC comments
- Revisions to terms of awards
- Evolving CD&A practices
Session Chair
Michael L. Hermsen, Mayer Brown LLP
Panelists
Mark Borges, Principal, Compensia, Inc., Corte Madera, California
Thomas P. Desmond, Vedder Price P.C., Chicago
Shelley E. Parratt, Deputy Director, Division of Corporation Finance, United States Securities and Exchange Commission, Washington, D.C.
10–10:15 a.m.
Break
10:15–11:15 a.m.
Developments in Accounting, Capital Raising, and Disclosure
- The new world of Rule 144
- Raising capital in a challenging market
- Accounting issues and procedures in SEC Corporation Finance
Session Chair
John J. Huber, Latham & Watkins LLP, Washington, D.C.
Panelists
Richard D. Buchband, Partner and Associate General Counsel–Corporate Matters, Accenture Ltd., Chicago
Wendy M. Hambleton, National SEC Director, BDO Seidman LLP, Chicago
James Hamilton, Principal Securities Law Analyst, Wolters Kluwer Law & Business, Chicago
11:15 a.m.–12:15 p.m.
Developments in Enforcement and Class Action Litigation
- 10b-5 developments — Stoneridge and Tellabs
- Sub-prime debt investigations and litigation
- Foreign corrupt practices act
- Developments in international and joint enforcement actions
Session Chair
Gregory S. Bruch, Foley & Lardner LLP, Washington, D.C.
Panelists
Merri Jo Gillette, Regional Director of the Chicago Regional Office, United States Securities and Exchange Commission, Chicago
Mary Jo White, Debevoise & Plimpton, New York City
12:15–12:30 p.m.
Box Lunch Break (provided)
12:30–1:30 p.m.
Doing Deals in Emerging Markets
- Key issues in M&A and joint ventures
- Barriers to getting deals done and how to clear them
- Addressing diligence, compliance, and cultural issues
Session Chair
Poh Lee Tan, Baker & McKenzie, Hong Kong
Panelist
Michael M. Froy, Sonnenschein Nath & Rosenthal, Chicago
Yashojit Mitra, Economic Laws Practice, Mumbai, India
Michelle M. Warner, Vice President, Law, Transactions, Motorola, Inc., Schaumburg, Illinois
Additional panelists to be announced
1:30–2:30 p.m.
Case Studies Addressing Ethics and Malpractice in Corporate Transactions
- Finding the traps in the transactional practices
- Identifying and avoiding conflicts of interest in corporate transactions
- Surprising sources of malpractice claims
- Avoiding the inadvertent client
Session Chair
Timothy J. Melton, Jones Day, Chicago
Panelists
Lori S. Gordon, Loss Prevention Counsel, ALAS, Inc., Chicago
Pamela Phillips, Howard Rice Nemerovski Canady Falk & Rabkin, San Francisco
Michael L. Shakman, Miller Shakman & Beam LLP, Chicago
2:30 p.m.
Program Concludes
