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Obamacare & the San Diego Life Science Industry

by Matt Archer When President Obama signed the Patient Protection and Affordable Care Act into law on March 13, 2010, he cemented his legacy as the architect of a new U.S. health care system. The bill ignited political conservatives who claimed it was a step into socialism, and provided fuel to boil any liquid left in the tea party’s pots. When informed of the term “Obamacare” for his revolutionary health care bill used in a derogatory manner by conservatives, President Obama responded with his typical style. At a press conference in Atlanta, President Obama utilized a technique that Bruce Lee…

THE AFFORDABLE CARE ACT: The Only Certainty is That We Live in Interesting Times

by Mike Murphy As we welcome in the new year, I am sure we would all agree that for various reasons we are living in interesting times, not the least of which is the Affordable Care Act and health care reform. A day does not go by where we do not hear significant negative and positive headlines about the possible impacts of the act and, in particular, its most significant components: The individual mandate and the insurance exchanges that offer coverage effective Jan. 1, 2014. What will the short- and long-term impacts be? Will more people be covered? Will health…

Assigning Property Rights to Human Tissue

by Marcella Bothwell, MBA ’14, and Erez Yoeli, Lecturer Biotechnology researchers sometimes use human tissue samples collected from patients during necessary procedures to develop immortal cell lines. These cell lines are used in the research and development of drugs and other treatments for diseases. These immortal cell lines can be immensely profitable for their developers, but patients have not always shared in the wealth created with their tissue. The best-known case is that of Henrietta Lacks, the impoverished originator of the immortal cell line “HeLa.” Lacks’ tissue was obtained during her treatment for cervical cancer, and while she and her…

Executive Compensation in an Era of Fiscal Irresponsibility

The origins of the Dodd-Frank Reform Act by Berna Kamyar, J.D As the financial crisis of the late 2000s proceeded through its worst stages, numerous accounts emerged detailing the reluctance of executives to moderate their lavish pay packages. Despite hard times, boards of directors continued to approve highly lucrative payments for executives while paying little regard to the plights of rank-and-file workers. Professor Shivaram Rajgopal, a professor at the Goizueta Business School of Emory University whose research activities center on executive compensation, put the situation this way: “Look at Larry Ellison (CEO of Oracle). He earns so much money, does…

Is the U.S. following in Japan’s footsteps?

by Tetsuo Mizunuma English edited by Sam Alter, ft’10 Is history repeating itself? When U.S. land prices started falling in summer 2006, most Americans remained optimistic and thought this would only impact the housing industry. However, as buzz words like subprime lending and securities fraud appeared in the media, Americans began realizing how grave the condition of the economy really was. As the recession deepened, researchers recalled Japan’s bitter “lost decade” of the 1990s and discovered striking similarities. Takafumi Sato, commissioner of the Financial Services Agency of Japan, summarized the similarities at a global symposium held in Tokyo last October, saying that irresponsible lending was widespread previous to…

The Uncertainty of Financial Markets

by Allan Timmerman The extraordinarily high daily fluctuations in equity prices experienced during the beginning of 2008 took many investors by surprise. Financial turbulence was swift, widespread and persistent as it continued to influence equity markets for several days. Swings in equity prices of more than five percent per day occurred in many countries, even in well-established markets that had not seen such high levels of short-term volatility since September 2001. Equity markets were not the only ones to be affected. An accompanying “flight to quality” saw prices on government bonds bid up as increasingly risk-averse investors sought greater levels of safety. Options markets also…