NewsWire

Both Sides Stand to Lose in Rangers Showdown
The fight for control of the sale of the Texas Rangers appears to be rapidly escalating toward a nasty showdown between Major League Baseball and the Hicks Sports Group's creditors; but Derek Rollins, a partner at Shackelford Melton & McKinley, LLP, warns that both sides should do everything in their power to develop a workable compromise instead of racing each other to the courthouse. "Though both sides have postured themselves to move swiftly and aggressively against the other, forcing each other's legal position through a take-over or involuntary bankruptcy filing may be short-sighted. Litigation - whether in bankruptcy or civil court - guarantees nothing but an uncertain outcome."

Dallas bankruptcy attorney Bill Siegel, a shareholder at Cowles & Thompson, agrees that both sides need to proceed cautiously, maintaining focus on the end result. "While it is easy to view this locally just for its impact on the Rangers' organization, this is the type of business dispute that will send chills up the spines of lenders everywhere," says Siegel. "If it goes to trial, a win by MLB might come at a tremendous cost by making the future financing of sports teams very difficult. Lenders will not be willing to stick their necks out on projects that have a high potential to fall short on returning the full value of the investment." To interview Mr. Siegel or Mr. Rollins, contact Rhonda Reddick at 800-559-4534 or rhonda@androvett.com.

Storm Season Brings Out the Worst Side of Insurance Business
This week's tornado outbreak is a grim reminder that storm season is here. And while the physical damage is daunting, many storm victims could be hurt again after making insurance claims, says Houston attorney Phillip Sanov, head of The Lanier Law Firm's Bad Faith Insurance Practice Group. "After paying policy premiums for years, home and business owners may be surprised at their insurance companies' responses to storm claims," says Sanov. "Unfortunately, too often we see insurance carriers deny, delay and underpay legitimate claims." Sanov notes that many victims have little left to preserve or document as damage evidence if their claims are denied as a pre-existing condition or for insufficient proof. "Victims need to see whether family or friends have photographs of events at the destroyed property in order to validate structural elements as well as contents." To interview Mr. Sanov, contact Bruce Vincent at 800-559-4534 or bruce@androvett.com.

Winners Emerge in Senate's Energy Proposal
Yesterday, Senators John Kerry and Joseph Lieberman introduced their long-delayed energy and climate legislation, encompassing a wide range of new priorities, standards and incentives. "Negotiations and changes to the bill have come fast and furious in recent days, particularly based on public and Congressional concerns about the gulf oil spill," says Scott Deatherage of Thompson & Knight. One recent change in the bill would allow individual states to veto plans for any offshore drilling within 75 miles of their shores. "Nuclear power may be one of the real winners here, with the proposal calling for new funding, quicker licensing and permitting, and more tax breaks for the industry," says Deatherage. "With a growing number of conflicting agendas, obtaining 60 votes in the Senate will be an uphill battle." To interview Mr. Deatherage, contact Barry Pound at 800-559-4534 or barry@androvett.com.

New Facebook Settings Relax Definition of 'Privacy'
New, relaxed privacy settings implemented by Facebook raise serious concerns for the more than 400 million members who use the popular social media network. Users are now far less able to control who views information about their friends, photos, group memberships and dialogue, as well as Facebook's ability to share this information with other social media networks. "Millions and millions of Americans have grown accustomed to sharing personal information on Facebook," says computer forensics and data security expert Erin Nealy Cox, managing director of Stroz Friedberg's Dallas offices. "Many people have jumped in with the belief that they can control access to their information. These changes should spur all Facebook users to carefully review their account settings." To interview Ms. Nealy Cox, contact Bruce Vincent at 800-559-4534 or bruce@androvett.com.