Cuba – Yes The Cars Are Amazing

(Cross-posted from www.indisputably.org)

cuba-seminary-front-green-car-e1453233240472So we all returned safely home this weekend and I look forward to blogging soon.  Truly an amazing trip of contradictions–gorgeous old cars and baroque buildings mixed with decrepit infrastructure.  Total candor on economic and planning needs and nothing on any political change…ever.  Just fascinating.  Much more to come but, given the first day of classes today, here’s a start of the pictures of the beautiful cars.  (Ed. note: click “Read More” for additional photos).

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Transparency in Government Includes the Judiciary

Sun_and_Moon_Nuremberg_chronicleThe following commentary appears in this week’s Wisconsin Law Journal:

Transparency is the core value of a democratic society. In a democratic self-government, voters have the power to select and reject those who will wield the power of government.

The power of the vote is only meaningful if the voters have information upon which to act. This is where transparency in government comes in.

In the case of the governor, the voters need to know whether their tax dollars are being steered towards political donors and whether state resources are being used to advance partisan political purposes. This is why the prospect of executive-branch officials communicating through private emails, and taking other steps to hide the true reasons for executive decisions from the public, is so troubling.

In the case of the state Legislature, the voters need to know whether lawmakers are exercising their power independently. Our representatives in the state legislature shouldn’t act as mere conduits for self-serving laws drafted by special-interest groups. Wisconsin was a leader, through the creation of the Legislative Reference Bureau in 1901, in our nation’s history in insisting that legislators draft their own laws.

The role of our state judges, in enforcing the value of transparency in government, is vital. This role has two components. First, it is essential that our state judges enforce transparency on the other two branches of state government. Second, our state judges must comply with the need to be transparent within their own judicial branch.

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Don’t Fear Numbers

RIskOver the last several years in Law School, I’ve learned that many of my peers are averse to math. In Prof. Anzivino’s Business Bankruptcy class I distinctly remember painful groans as he explained the time value of money and had the class look at a simple amortization table. In Prof Grossman’s Business Strategy course, I had a friend lean over to me and ask, “What the hell is a balance sheet?” Basic accounting and finance concepts seem to be like nails on chalk board for many law school students. Don’t fear numbers; basic accounting and finance skills can help distinguish your resume from other law school graduates and build better relationships with future clients.

Lawyers should have a basic understanding of a balance sheet, income and cash flow statements.

A balance sheet identifies the assets of an organization and how those assets were financed, either through debt [using someone else’s money] or through equity [using the owner’s money]. For those who are interested in doing M&A, a thorough understanding of a balance sheet is critical. For example, the ability to identify and discuss financial reserves [such as, those related to environmental remediation] can help you to identify, understand, and highlight risk for your client. An entity’s balance sheet also provides an understanding of an operation’s well-being: trends in cash, inventory, revenue producing equipment, receivables, payables, debt equity ratio and retained earnings [to name a few]. It’s also important to understand the relationship between these elements; it’s called a balance sheet for a reason.

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