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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?


To: Cactus Jack who wrote (157274)1/3/2009 4:37:53 PM
From: stockman_scott  Respond to of 361716
 
Denver Schools Chief in Line to Complete Senator’s Term
_______________________________________________________________

By KIRK JOHNSON
The New York Times
January 3, 2009

DENVER — The superintendent of the Denver Public Schools, Michael F. Bennet, a lawyer and prominent Colorado Democrat, will be appointed to fill the United States Senate seat being vacated by Ken Salazar, senior Democratic Party members said Friday.

Mr. Salazar was chosen last month to be secretary of the interior in the administration of President-elect Barack Obama, setting off a scramble to fill the remaining two years of Mr. Salazar’s term.

Mr. Bennet will be formally designated on Saturday by Gov. Bill Ritter Jr., Democrats said, speaking on the condition of anonymity because Mr. Ritter has not officially announced his decision. Mr. Bennet’s selection was reported Friday in The Denver Post and The Rocky Mountain News.

Mr. Bennet, 44, was born in India, where his father, Douglas Bennet, a diplomat, was stationed. He was raised mostly in Washington and will return there with a diverse résumé and a reputation in Colorado as a soft-spoken, analytical thinker who is not afraid to take on jobs that promised mostly headaches — specifically running the troubled Denver school system.

He took the job in 2005 after three years as chief of staff to Mayor John Hickenlooper of Denver. With no formal experience in education administration, Mr. Bennet was following a long-established pattern, according to people who have worked with him over the years: the willingness to leap into unfamiliar waters.

He arrived at Denver City Hall in 2003, for example, after six years as a managing director for an investment firm in Denver, and before that, he had served as counsel to the deputy attorney general in the Clinton administration.

He graduated with a history degree from Wesleyan University in Connecticut — which his father led as president from 1995 to 2007 — before getting his law degree at Yale. His wife, Susan Diane Daggett, who also got her law degree from Yale, has worked as an environmental lawyer. James Bennet, his brother, is a former reporter for The New York Times and is now editor of The Atlantic magazine.

From the start as schools superintendent, Mr. Bennet did not behave like a traditional educator. He liked to ride the bus with students on the first day of class and made it a point to be the public face of the district in public meetings with parents over some of its most wrenching decisions, like school closings. But he also came armed with a weighty Rolodex full of highly placed friends to personally lobby city officials, state legislators and others for what the Denver schools needed.

“Having a fresh set of eyes for the issues D.P.S. faced, but also being able to call the right people and get the right people involved — both were very important to his success,” said the Speaker-elect of the Colorado House of Representatives, Terrance D. Carroll, a Democrat whose district is in Denver.

Under Mr. Bennet, Denver pursued consolidation — closing some underperforming, under-populated schools — and merit-pay incentives for teachers. He overhauled the grading system to provide more information about students’ strengths or weaknesses. Student performance on standardized tests improved. Last July, for example, Denver posted the biggest increases in math and reading proficiency among the state’s largest districts.

And while Mr. Bennet sometimes clashed with the local teachers’ union, the Denver Classroom Teachers Association, its president, Kim Ursetta, said his door was also always open.

“We’ve had our disagreements,” Ms. Ursetta said, “but he was always willing to talk and always accessible.”

Mr. Bennet did not respond to an interview request. And many other politicians in Colorado were hesitant to speak until Mr. Ritter’s announcement on Saturday.

“We will respect his timeline,” Mr. Hickenlooper said in a statement.

A former communications director for Denver Public Schools, Alejandra Garza de Gutierrez, described Mr. Bennet’s style as deliberate and self-effacing.

“Michael isn’t one to talk in vain — he doesn’t say things just to say things or because he likes the sound of his own voice,” Ms. de Gutierrez said.

But Mr. Bennet’s sharply reasoned decisions sometimes left him vulnerable to feeling misunderstood.

“Michael would take something and say, ‘We need to fix that, and it’s logical,’ and then be surprised by the reaction,” Ms. de Gutierrez said. “Whenever people didn’t receive ideas as warmly as we would have liked, he was a little hurt.”

-Dan Frosch contributed reporting.

Copyright 2009 The New York Times Company



To: Cactus Jack who wrote (157274)1/5/2009 8:55:43 AM
From: stockman_scott  Read Replies (1) | Respond to of 361716
 
Milberg rides Madoff

crainsnewyork.com

Scandal-plagued law firm rebuilds image, representing Ponzi scheme victims

January 04, 2009

Bernard Madoff is said to have ruined many a fortune, but for one law firm, history's largest alleged Ponzi scheme is opening the door for a comeback.

The law firm formerly known as Milberg Weiss—considered the go-to firm for shareholder class-action suits until a 2006 kickback scandal landed several of its name partners in prison—is once again in demand.

The firm, now called simply Milberg LLP, has signed up more than 100 Madoff victims, the biggest group assembled by any one firm to date. All told, these clients face estimated losses of $1.5 billion to $2 billion. In addition to representing a potential windfall in fees, the cases could help restore the firm's reputation.

Milberg Weiss, which claimed to have collected $45 billion on behalf of defrauded investors over four decades, was once one of the most-feared class-action firms in the nation. The firm served as lead counsel in the Enron class-action suit in 2002, securing a shareholder settlement of $7.2 billion, one of the largest in history. It was also known for public stunts: On one occasion, a partner pushed a wheelbarrow full of shredded documents to the steps of the Enron building.

At its height, the firm had more than 150 lawyers. But a federal investigation that began in 2005 revealed that seven of the firm's partners were secretly paying plaintiffs to join a series of suits, perpetrating a kickback scheme that brought the firm an estimated $251 million in fees.

The guilty former partners have all been sentenced to prison. Milberg Weiss agreed to pay a $75 million settlement, and the government dropped its indictment of the firm.

The firm has since kept a low profile, trying to avoid the theatrics that were once its trademark. Although Milberg has shrunk by about 30%, to 100 lawyers, it has been able to carry on most of its ongoing cases.

“The vast majority of our clients—about 95%—stayed with us, even after the indictment,” says Sanford Dumain, who is a partner at Milberg.

In 2007, the firm recorded 17 settlements totaling more than $3.8 billion. That was enough to put Milberg first on the list of the top 50 class-action firms ranked by RiskMetrics Group, a corporate-governance consulting firm.

Those lawyers who stayed through Milberg's troubles talk of the close working environment and the camaraderie that comes from being “survivors.”

“Unfortunately, there were aspects within the firm that were disappointing,” Mr. Dumain says.

But such dealings are a thing of the past, insist current partners. The remaining attorneys feel a greater need than ever to prove that the firm is legitimately at the top of its game.

“The lawyers that stayed were not implicated or involved in the indictment, and we are going to work just as aggressively as we always have to do the best for our clients,” says partner Ariana Tadler.

What goes around ...

In a twist of fate, the Madoff scandal may be just the thing that wipes away the stain of Milberg's past.

Milberg is working with plaintiffs' firm Seeger Weiss in rounding up Madoff victims; Mr. Dumain notes that even lawyers who have been adversaries in the courtroom are referring Madoff investors to Milberg. The firm is still acknowledged to have the most expertise in financial investigations, with its in-house team of 12 former FBI investigators and forensic accountants.

Steven Bursey, chief of Milberg's investigative team, says he is following a few promising international leads to Mr. Madoff's “inner circle” but declines to elaborate.

Because of the unique circumstances, it is unlikely that Milberg will seek class-action status for the Madoff victims, says partner Brad Friedman.

“In a typical class action, a class member has lost a few hundred or a few thousand dollars,” he explains. The cost of mounting an individual lawsuit may exceed the amount of the investor's loss, so pooling plaintiffs together into a class creates economies of scale.

In the Madoff case, however, each victim claims to have lost millions of dollars, so Milberg may bring cases individually. Also, Mr. Madoff may not be the sole defendant in some instances, since many of the victims invested through third parties.

In addition to raising its profile through the Madoff case, Milberg is on a hiring spree. The firm just announced that famed Harvard Law School professor Arthur Miller and Gibson Dunn & Crutcher bankruptcy chief Jonathan Landers are joining the firm.

Some in the New York legal community think it will take more than a few prominent hires to dissipate the cloud of disdain.

“I'd still feel uncomfortable placing attorneys at Milberg,” says Jack Zaremski, president of legal search firm Hanover Legal Personnel Services Inc. “You don't go from your name partners acting criminally, and the firm negotiating a plea agreement in order to stay in business, to becoming a respected player in the New York legal community in the space of a year.”