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Partner Expands Civic Obligations
Bryan Cave LLP Partner Herb Kohn, known as much in Kansas City for his civic efforts as for his legal practice, has expanded his list of involvements. Kohn was featured recently in The Kansas City Star as a newly elected board member of the Advertising Icon Museum, slated to open in 2008. The museum is part of an $80 million development by Bob Bernstein adjacent to the Country Club Plaza in Kansas City. The museum will be the permanent home of the Madison Avenue Advertising Walk of Fame, a collection of advertising icons and slogans chosen each year at the industry’s Advertising Week in New York. As an example, Colonel Sanders and the Kool-Aid Man were inducted this year. Bernstein, co-founder of Bernstein-Rein Advertising, acquired a large collection of advertising icons in 2003. He continues to collect more and now serves as chairman of the museum’s first board, which also includes area businesspeople, two journalism school deans and community philanthropists. Kohn also has been elected to a three-year term on the Harry S. Truman Library Institute Board of Directors. The 25-person board includes leading businesspeople, professors, civic leaders, a former U.S. congressman and one of Truman’s grandsons. Currently, the library is featuring a display of Caroline Kennedy’s dolls, collected while she lived in the White House. The Harry S. Truman Library Institute was organized in 1957 to foster and help the Harry S. Truman Library’s growth and development as a national center for study and research. The institute promotes research into the Truman administration by awarding grants and sponsoring scholarly conferences and by helping to develop the library’s museum and public programs. The library preserves the papers, books and other historical materials related to former President Harry S. Truman and makes them available to the public for research. Kohn is well-known for his corporate, business and banking law practice, work that is concentrated in the areas of acquisitions, financial transactions, banking and public finance. Among other community involvements, Kohn is a member of the Civic Council of Greater Kansas City and is chairperson of the Kansas City Art Institute’s Board of Trustees.

11-28-2006

Recent FTC Actions Give Guidance on Telemarketing Compliance
Nearly a year ago, the Federal Trade Commission announced a $5.3 million penalty against DirecTV for violations of the national Do Not Call registry and other telemarketing rules. It was the largest civil penalty in a consumer protection matter ever handed down by the FTC.

"The DirecTV action provided a much needed wake-up call to general counsels across the country who were working under the mistaken impression that telemarketing compliance could be outsourced in much the same manner, and just as easily, as the telemarketing programs themselves," Bryan Cave LLP Attorney Joe Sanscrainte wrote in GC New York. "The background and underlying facts that led to the penalty against DirecTV provide a cautionary tale for any general counsel whose task it is to manage the many risks associated with telemarketing in the United States."

Sanscrainte is a member of the Regulatory Affairs, Public Policy & Legislation Client Service Group and of the Antitrust & U.S. Trade Client Service Group. He is chair of the American Teleservices Association’s State Legislative Committee.

11-28-2006

Seven Weber Gallagher Attorneys Named 2006 PA 'Rising Stars'
Partners Wendi D. Barish, Michael B. Pullano, Regan S. Safier, Michael S. Savett and Jeffrey T. Strittmatter and associates Shawn C. Gooden and Joshua A. Gray have been selected as 2006 Pennsylvania "Rising Stars" by the publishers of Philadelphia magazine and Law & Politics magazine.

The attorneys have been honored for their accomplishments, along with other selectees, in the December 2006 issue of Philadelphia magazine and the Pennsylvania edition of Super Lawyers Rising Stars, which is published by Law & Politics magazine. The selection process began with nominations by Pennsylvania Super Lawyers and was followed by data verification and independent research into the qualifications of each nominee. The list of “Rising Stars” includes the top 2.5 percent of attorneys in private practice, prosecutors, in-house counsel and public service lawyers who are 40 years old or younger or in practice for 10 years or less. The attorneys were named in the following categories: Employment Litigation: Defense (Ms. Barish), Personal Injury Defense: Products Liability (Mr. Pullano), Personal Injury Defense: Medical Malpractice (Ms. Safier); Insurance Coverage (Mr. Savett), and Workers' Compensation (Mssrs. Strittmatter, Gooden and Gray).

11-27-2006

Korea National Housing Corporation Floating-Rate Notes Offering
Davis Polk & Wardwell advised Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and The Hongkong and Shanghai Banking Corporation Limited as representatives of the initial purchasers in connection with the offering by Korea National Housing Corporation of $500 million aggregate principal amount of floating-rate notes due 2011. The Korea National Housing Corporation is a government-owned entity responsible for implementing the Korean government’s public housing policies.

The Davis Polk corporate team included partner Eugene C. Gregor of the Tokyo office and partner John G. Crowley and associates Hyun Kim, Richard Lee and Kee Won Shin, all of the Hong Kong office. Partner John D. Paton of the London office and associate Matthew H. Hawes of the New York office provided tax advice. Stephanie Zhu was the legal assistant for the transaction.

11-27-2006

deCODE genetics Senior Convertible Notes Offering
Davis Polk & Wardwell advised Lehman Brothers Inc. and Piper Jaffray & Co. as initial purchasers on an offering by deCODE genetics, Inc. of $80 million aggregate principal amount of 3.5% senior convertible notes pursuant to Rule 144A.

Headquartered in Reykjavik, Iceland, deCODE genetics, Inc. is a biopharmaceutical company applying its discoveries in human genetics to develop drugs for common diseases.

The Davis Polk corporate team included partner Paul E. Kumleben and associate Laura I. Martinez of the London office, as well as associates Christopher S. Schell and Nadine M. Arendt and law clerk Shih-Jern Liang of the New York office. Partner John D. Paton of the London office and associate Matthew H. Hawes of the New York office provided tax advice.

11-27-2006

Davis Polk advises ORIX on a $1 Billion Note Offering
Davis Polk & Wardwell advised ORIX Corporation on the establishment of an automatic shelf registration statement and the immediate takedown of $1 billion principal amount of 5.48% notes due 2011. Merrill Lynch & Co. and Nomura Securities acted as deal managers for the offering.

ORIX, a leading integrated financial services group based in Japan, provides a broad array of innovative products and services to both corporate and retail customers.

The Davis Polk corporate team included partner Theodore A. Paradise and associates Michael T. Dunn and Heather W. Eskey, all of the Tokyo office. Partner John D. Paton of the London office and associate Matthew H. Hawes of the New York office provided tax advice and associate Jodi B. Ganz of the New York office provided ’40 Act advice. Ayako Ikeda and Naruhito Cho of the Tokyo office were the legal assistants on the transaction.

11-27-2006

Davis Polk Advises Comcast on Its Acquisition of Disney's Minority Interest in E! Networks
Davis Polk & Wardwell is advising Comcast Corporation on its $1.23 billion acquisition of The Walt Disney Company’s 39.5% ownership stake in E! Networks. Based in Philadelphia, Comcast is the largest cable television operator in the United States. Based in California, The Walt Disney Company is a leading diversified international family entertainment and media enterprise.

The Davis Polk corporate team includes partner William L. Taylor and associate William J. Chudd. Partner Avishai Shachar and associate Neil Barr are providing tax advice. All members of the Davis Polk team work in the New York office.

11-27-2006

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