Off Topic: Another Red State Update and special comment

I saw the other day that someone commented about my new favorite comedy troupe, The Red State Update, about how I was turning this site into a political blog. I hardly think posting this video rises to the level of doing that, but regardless, this is not a political blog.

I have my own political opinions as I would think most attorneys do, and I am not afraid to espouse them when appropiate. That being said The Red State Update is a comedy troupe, and I find them freaking hilarious. You can check out their prior posts on their website or YouTube.

Again, they are a COMEDY TROUPE. They make fun of Democrats and Republicans. Heck, they make fun of themselves. The whole red state, red neck thing is part of their schtick, like it is for Jeff Foxworthy or Larry the Cable Guy. They do this to make money. They don't see Red and they don't see Blue. Believe me, the only color that they see is green.

Besides, life is short, we all need to laugh every now and then.

WOW. 1000 people find another way to procrastinate

Ok, so I check my Google Analytics this morning, and I officially have 1000 unique visitors who have visited my blog! I would have been thrilled if it said I had 100 unique visitors. People have looked at Gabe's Guide to the eDiscovery Universe from over 30 countries around the world, including several in Europe, India, and New Zealand--yes New friggin Zealand!

Anyway, I highly, highly appreciate it. Thanks for stopping by.

The "Microsoft" of Miners about to acquire the "Yahoo" of mining

From Forbes.com:

LONDON -
"As you might have expected given last week's bid expectations for Canadian steel maker Alcan, other companies in the metals and mining sector have now found themselves the subject of takeover talk. Analysts at Merrill Lynch recently suggested that BHP Billiton, the world's largest mining stock, could be an attractive target for private-equity interests, but now forecasters at Citigroup think the company would be better off just buying Rio Tinto, its nearest rival.

It might seem a little far fetched given the fact that Rio has a market capitalization of $80 billion, while BHP is worth $136 billion. But investors seemed to be hoping there was some truth the speculation, and sent Rio up 204 pence ($4.07), or 6.1%, to £35.08 ($69.93), in Wednesday afternoon trading in London. BHP was up 24 pence (48 cents), or 2.0%, at £12.09 ($24.10). It wouldn't quite be the biggest takeover of all time -- that distinction goes to AOL for buying Time Warner in 2000 for $165 billion -- but it would probably come a close second.

"Rio Tinto's strong cashflow and nominal gearing may bring it into the crosshairs of private equity, but we think BHP Billiton is a much more likely bidder given synergies and nationalistic control issue of Australian assets," Citigroup's Clarke Wilkins wrote in a research note earlier this week.

Considering Rio Tinto's sheer size, a bid at even a modest premium would need to be around $100 billion or more, and that would leave the only other miners that might conceivably buy it -- Anglo American and Xstrata, which have market values of $80 billion and $50 billion, respectively -- saddled with debt. BHP, on the other hand, has reported a hefty cashflow from operating activities of $10.5 billion for the year to June 30, 2006, and even promised shareholders it would add a massive $10 billion to its share buyback program in February.

A bid from BHP Billiton also looks compelling, Wilkins said, because of the synergies that could be achieved between it and Rio through their existing joint ventures. BHP's dual listing on the Australian and London stock exchanges, along with its being partly based in Australia, would also stand it in good stead with the Australian government since a takeover of Rio would see it gain control of the company's huge iron ore operations in Pilbara, Western Australia. Rio derives about 40% of its earnings from its mines there. "

I first received word of this from The Posse List, who had sent out an email to their DC listerv today. If you are a contract attorney anywhere in America you would be foolish not to sign up with The Posse List listservs. Their information on jobs and the market in general is pretty remarkable.

Legal "Insourcing:" Orrick Helping West Virginia lawyers to pick up Doc Review Skills, Drop Banjo Lessons.

I had a rant a few posts back about legal outsourcing to foreign countries. This is an article from Kellie Schmitt about legal "insourcing," meaning moving doc review to other places of the country besides the traditional DC or NYC.

Honestly, I have no problems with this. These are not people in other countries without American law degrees giving legal advice (unethically in my opinion) withoout a license to practice Amercian law anywhere (while the ABA, and every State Bar buries their perverbial heads in the sand). These are American barred attorneys in "America" having the opportunity to do something that helps them and the entire community around them. That is what capitalism is all about. Would I like ALL doc reviews to be in DC, you bet, but that is not the reality we live in. That being said, litigation is going nowhere, and doc review will always be a staple in DC and NYC.

Now, you better believe that "insourcing" will continue to spread, but I don't believe it will ever spread enough to evaporate e-discovery in both our cities, unless 80% percent of attorneys in both DC and NYC decided to migrate to Wyoming or something...which would not be a bad idea...

From the article:

"A onetime state capital, the former steel and coal mining center of Wheeling, W.Va., was on its last legs. Once-booming factories stood vacant, their furnaces silent. A nearby mall had hobbled its lingering mom-and-pop retail, creating an empty downtown that wasn't safe after dark. After topping out at 60,000 residents during World War II, Wheeling had barely half that in 2000.

"It was a slow deterioration," said resident Brian Taylor, an artist born in Wheeling in the 1930s.

Then Orrick, Herrington & Sutcliffe moved in. Six years ago, an impromptu plea from the mayor helped persuade the major San Francisco law firm to open a back-office hub here, initially with 73 jobs. Orrick's Global Operations Center has triggered a quiet renaissance in Wheeling as the anchor of a downtown revitalization that has created more than 1,200 jobs, according to the Wheeling Economic and Community Development Department.

"This company is the best thing that ever happened to Wheeling," says Debbie Garvin, an administrative assistant at the Orrick GOC.

These days, cars are everywhere downtown, many belonging to Orrick's nearly 200 employees. The family-owned Lebanese bakery across the street is selling its pastries to a line of GOC staff. Downtown's Centre Market district bustles during lunch -- residents are quick to point out that Coleman's Fish Market, inside, won "Best Fish Sandwich" in Gourmet Magazine in 2001. And other companies are following Orrick's lead, moving back-end operations here.

Orrick is happy, too. Chairman Ralph Baxter Jr., a West Virginia native, says the GOC allowed the firm to shave $26.5 million in overhead costs in its first five years."