Obama memo against pre-emption has critics worrying about lawsuits - bizjournals:

yqyqynesara.blogspot.com
A May 20 memo from Obama also directed agenciesd to review regulations issued durinvg the past 10 years to see if theycontainedx pre-emptions that are not justified. If they do, agencie s should consider amendingthe regulations, the memo “Pre-emption of state law by executive departments and agenciesw should be undertaken only with full consideration of the legitimate prerogatives of the states and with a sufficienft legal basis for pre-emption,” the memo During the Bush administration, regulatoryy agencies sometimes included pre-emptionh language in the preambles of regulations.
Obama’sd policy against federal pre-emption of statde laws will result in more lawsuits against particularly in the area ofproduct liability, according to the and the . “Manufacturers sell product into anational market, and a national regulatory standard helps ensure predictable treatment in the said association Vice President Rosarik Palmieri. “It’s unwise to replace a regulatoryy system based on objective science and agenchy experts witha 50-state patchworjk of often arbitrary jury decisions. Lisa Rickard, president of the , said the memo was a gift to lawyers.
“Removing pre-emption runs completely counter to the goal of stabilizingy the economy andgrowing jobs, excepf for those in the lawsui t business,” she said. The , formerly known as the , praised Obama’e memo. It “makes clearf that the rule of law will once agaihn prevail over the rule of said association PresidentLes Weisbrod. “The memo overturnes actions taken by Bush administration bureaucrats who were influencedfby powerful, well-connected corporations who wante d to rewrite and reinterpret congressional legislation, undermine the constitutiona l system of checks and balances, and put the publicf at risk and compromise laws designed to give Americands basic rights to hold wrongdoers accountable.
” Microloans up, big loanes down for small businesses last year Lendingh data collected by the ’z Office of Advocacy confirms the importance of businesse credit cards to small firms. A new report found that the totalp valueof small-business loans outstanding increased by 4 percengt in the 12 months that ended in June down from the previous year’s increase of 8 These numbers are for small-business loans as a not just SBA loans. The number of businesds loans of lessthan $100,00o jumped by nearly 16 percent, as large lenders concentratefd on credit cards, according to the study.
By contrast, the numbef of business loans inthe $100,000 to $1 milliohn range fell by more than 23 percent. The repor used call reports submitted by banks as well as Communityy ReinvestmentAct data. Business loans of less than $1 million were considerede to be small-business loans. Basede on call report data, the top five small-busineses lenders in June 2008were , , , and Presidenr Barack Obama has selected a venture capitalistt to be chief counsel of the Small Business Administration’zs Office of Advocacy, a post usuallt held by an attorney. Winslow a managing director in the technology practiceeof Madison, Wis.
-based Venture is Obama’s choice to head the Office of The office is an independent entity inside SBA that ensures that federal agencies considetr the impact of their regulations on small businesses. He is the secondx venture capitalist to be selecte for a top post atthe SBA. Agencuy Administrator Karen Mills worked as a principall in private equity and venture capital firms for 26 years befor she took over the SBA in Sargeant worked as a senior engineere at several large corporationsbefore co-founding a semiconductor chip company that later was acquiresd by PMC-Sierra.
From 2001 to 2005, he servec as program manager for the Small Business Innovatio n Research program atthe ’zs engineering directorate. Sargeant’s lack of legal training meansw he will have to rely heavily on the attorneyx at the Officeof Advocacy. Much of the office’ work involves analyzing whether government agencies have followed federalp laws that require them to analyze the economic impact that proposed rules woulx have onsmall businesses.
In fiscal 2008, this inpuf saved small businessesabout $11 billion in forgone regulatory costs, according to the