Ad limits get harder to enact; high court speech rulings are inconsistent

Article Abstract:

Opinions differ as to how much First Amendment protection commercial speech should enjoy. The advertising community fears that regulations on tobacco advertising presages regulation on the advertising of other vices such as high-fat foods. Expert opinions on commercial speech include the view that advertising has little impact on behavior. The US Supreme Court started giving commercial speech some protection with the Virginia State Board of Pharmacy case in 1976, but the courts have eroded commercial speech rights since then. Commercial speech advocates won two Supreme Court cases in 1993.

Freedom of speech, Advertising, Commercial speech doctrine

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Asbestos claims hang over one of the '80s big buyouts

Article Abstract:

One of the largest leveraged buyouts of the 1980s, Walter Industries Inc, is now in a bankruptcy court. The firm was a home-building conglomerate and is now faced with a case brought by some 1,000 asbestos claimants. The Walter subsidiary which sold roofing materials containing asbestos, Celotex Corp, was sold shortly after the leveraged buyout. The court must decide whether Walter can be held liable for Celotex asbestos claims, and proving this will entail piercing a corporate veil.

Subdividers and developers, not elsewhere classified, Reconstituted wood products, Gypsum products, Bituminous coal--underground, Asbestos, Disregard of corporate entity, Disregarding corporate entity, Celotex Corp., Walter Industries Inc.

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