Latest news with #FirstState
New York Times
3 days ago
- Business
- New York Times
Companies Rely on Delaware Courts. Lawyers Reap Huge Fees There.
Andrew here. To kick off the week, I've been digging into a new study quietly making its rounds in corporate boardrooms. The analysis suggests Delaware's judiciary has created a veritable fee machine for lawyers, raising pointed questions about the state's long-held status as the preferred incorporation haven. Meanwhile, investors are focused on new comments from the White House and China on the tariff battle. And my colleague Danielle Kaye has uncovered some truly counterintuitive implications within a provision in Republicans' budget bill that limits states' ability to regulate A.I. — with far-reaching consequences. What are Delaware judges doing? Delaware's decades-long pitch to corporate America is simple: It offers predictable judges, light-touch politics and fast decisions. But a new study making the rounds in boardrooms — and loudly promoted by the prominent venture capitalist Bill Gurley — finds reasons for Corporate America to reconsider its reliance on courts in the First State. A fee factory? The study, by the well-known Stanford law professor Joseph Grundfest tallied every shareholder case since 2000 in which lawyers won fee 'multipliers' of 7 times ('septuples') or 10 times ('decuples') their normal hourly rate from big corporations. Here's what it found: Delaware produced 21 septuples and 14 decuples, almost matching the entire federal system on septuples and nearly triple on decuples. One payout for a lawyer practicing before Delaware's Court of Chancery worked out to an astonishing $35,000 an hour. Some lawyers are walking away with multipliers of 66 times their standard rates. Just two chancery court judges handed out a majority of those supersize awards, so it matters which judge you get. 'Something is awry in Delaware and you should know the risks,' Gurley, the Benchmark Capital partner who invested in Uber, wrote on X. He has been critical of Delaware and supported what like-minded critics call DExit. Want all of The Times? Subscribe.
Yahoo
6 days ago
- Business
- Yahoo
A lawsuit against Trump and concerns about Christina River. Try this week's news quiz
Think you've been keeping up with Delaware's latest headlines? From business developments and real estate shifts to politics, sports, and community buzz — this week's Delaware Online news quiz covers it all. Challenge yourself on the top stories and see how well you've been following the news. Take the quiz, test your knowledge, and don't forget to share your score with friends! If you missed one of these headlines, make sure to sign up for our newsletters for all the First State news. This article originally appeared on Delaware News Journal: A lawsuit and concerns about a river. Try this week's quiz
Yahoo
22-05-2025
- Yahoo
Traveling Memorial Day weekend? AAA predicts this many other travelers, too
Traveling Memorial Day weekend? You're not alone. More than 125,000 Delawareans are expected to travel 50 miles or more this holiday weekend, according to AAA. AAA considers the travel weekend to run May 22-26. While more travelers are expected on the roads, in the air and on boats this year compared with Memorial Day 2024, AAA predicts only about 1,000 more travelers from Delaware. Excluding the COVID-19 pandemic, that's the lowest year-over-year growth rate since 2016, AAA said. National numbers reflect this, too. AAA projects that 45.1 million people will travel nationally, an increase of 1.4 million travelers compared to last year. But that projection is also the lowest year-over-year growth rate in nearly a decade. AAA attributes this to rising costs of both goods and services across the country. Related: What to know about public transportation at the Delaware beaches this summer Most Delawareans who are traveling this weekend will be driving, AAA said. AAA expects nearly 90%, or about 112,000, First State drivers. Air travel is the next most common mode of transport, with about 11,000 Delawareans expected to fly. And nearly 3,100 people are expected to travel by train, bus or cruise. Drivers are expected to make up the lion's share of travelers nationally, too. AAA projects 39.4 million people will travel by car, or about 87% of travelers. While gas prices typically peak in the summer, AAA said prices this year are lower than last. Another 3.61 million people are expected to fly, while 2.08 million will travel by train, bus or cruise. Related: While uncertainty looms in the air this summer, almost half of Americans plan to travel INRIX, a provider of transportation data, expects afternoons to be the most congested for drivers. It recommends hitting the road during the morning hours, specifically: Before noon on May 22 Before 11 a.m. on May 23 Before noon on May 24 Before 1 p.m. on May 25 Before 2 p.m. on May 26 Got a tip? Send to Isabel Hughes at ihughes@ For all things breaking news, follow her on X at @izzihughes_ This article originally appeared on Delaware News Journal: Traveling Memorial Day weekend? AAA predicts this many others, too
The Independent
19-05-2025
- General
- The Independent
Shipment of thousands of chicks found abandoned in USPS truck now overwhelming an animal shelter
A Delaware animal shelter is trying to care for and rehome thousands of chicks that survived being left in a postal service truck for three days. Trapped in a warm enclosure, without food and water, thousands died before they were discovered. Involved parties are still awaiting answers as to how 12,000 chicks were abandoned within a Delaware mail distribution center. The United States Postal Service said in an email that it was aware of a process breakdown and was actively investigating what occurred. Pennsylvania-based Freedom Ranger Hatchery raised the chicks for their weekly distribution to clients across the country, said a spokesperson for the company. Due to biosecurity concerns, the hatchery cannot take the chicks back. The spokesperson said it would have been best if USPS, after discovering the chicks, had completed delivery as the recipients would have been adequately equipped to handle the birds — even malnourished ones. For more than two weeks, the surviving chicks have been nursed and cared for at First State Animal Center and SPCA, said John Parana, executive director. Last Tuesday, the shelter began offering the birds for adoption, but only a few hundred out of thousands have been picked up. There is no complete count of the chicks, as the shelter has no feasible way to do so, but Parana estimates there to be more than two thousand available. Some have inquired about buying the birds for meat, but, as a no-kill shelter and SPCA, those were refused. The strain has turned the animal care center into a 24/7 operation and necessitated a staffing increase, Parana said. Money remains the biggest concern for the donation-reliant nonprofit. Some employees have begun spending their money to support the operations, he added. Among the birds were young turkeys, geese and quail, but the vast majority were Freedom Ranger chicks. One concern for the shelter, Parana explained, was the increasing demand for space and feed over time, as Freedom Rangers take about ten weeks to reach maturity. The Delaware Department of Agriculture, after a call from USPS, directed the animals to the shelter, which shares a memorandum of understanding with the animal center as a state vendor. The department said it is responsible for assisting the shelter with funds — for chickens, the rate was $5 each per day. The department's chief of planning, Jimmy Kroon, said negotiations were ongoing, but Parana claims that the department communicated that they had no funds to allocate for the chicks. Both acknowledged the original rate would be unreasonable in the current circumstances. 'They said that they're gonna try to go after the post office to get recoupment,' Parana said. 'That doesn't help us in the meantime.'
Technical.ly
02-05-2025
- Business
- Technical.ly
Delaware leaders address homegrown clean energy at in-person Town Hall
It's been a big month for clean tech in Delaware. There was the CleanTech Innovation Ecosystem Summit at the Delaware Innovation Space, including Startup302's Environmental Impact Finals, and the topic of clean energy took center stage (if only for a few minutes) at the Delaware town wall featuring the state's congressional delegation, the governor and the attorney general. Also new: big biotech expansions in New Castle County, the First State's first esports high school state championships and a Tech Council of Delaware fly-in to DC. Keep reading to get the details, and don't forget about next week's Philly Tech Week presented by Comcast and the Builders Conference. Hop on SEPTA to get there while you still can! A plea for more energy infrastructure On Saturday, April 26, Delawareans had an opportunity to speak directly to state leadership at the first in-person town hall of the second Trump administration. All of Delaware's congressional leaders — Rep. Sarah McBride, Sen. Lisa Blunt Rochester and Sen. Chris Coons — were present, as well as Gov. Matt Meyer and Attorney General Kathy Jennings. Community members pressed the all-Democrat panel on several topics, dominated by opposition to the Trump administration and demands for more aggressive action in Congress, as well as protest against the US role in the ongoing Gaza war. Clean energy also came up, as a union boilermaker from New Castle made a plea for more energy infrastructure in Delaware. 'Our nation is on the brink of an electric energy crisis because of the enormous amount of electricity demands needed to power data centers, AI, Bitcoin mining and cannabis farming,' he said. 'What distinguishes Delaware is the fact that our state imports more of its electricity generation, percentage wise, than any other state in the union, and we must change that.' Senator Coons responded, referencing the $750 million grant for the Mid Atlantic Clean Hydrogen Hub, also known as MACH2, that connects Delaware, Pennsylvania and New Jersey as a center of the burgeoning hydrogen economy. Unfortunately, he said, the grant, approved by the previous administration, may not materialize. 'The current administration is this close to canceling that,' Coons said. 'I know this isn't universally known, but Newark, Delaware happens to be one of the world's leading centers of hydrogen technology. We have a real opportunity here to grow a business, to produce clean energy, to export it to the rest of the world, and I'm fighting hard, working with Democrats and Republicans to prevent the shutdown of our hydrogen hub.' Governor Meyer added that the state is working on a plan to make the state both energy independent and run on clean energy. 'Within a decade, we [plan to] go to 100% renewable Delaware produced energy,' Meyer said. 'It will not be easy to achieve.' A major roadblock, the governor said, is gaining regulatory support for the beleaguered offshore wind projects that have been in the works for years. 'There is outright opposition to many of these things from the federal government,' Meyer said. 'In spite of that, we're going to do everything with solar, potentially with wind, hopefully with hydrogen, and maybe even with a little nuclear to make sure we are moving forward.' Watch the full town hall here. More Moves: Merk's $1 billion complex at Chestnut Run will be the main production plant for cancer drug Keytruda. Biotech clinical research organization QPS Holdings is making a $16.6 million expansion at Delaware Technology Park in Newark. Futures First Gaming — and the State of Delaware — hit an esports milestone last month when it hosted the first-ever Delaware Scholastic Esports League Mario Kart High School State Championships at Theatre N. Cleantech startup KiposTech took the top prize in the 2025 Startup302 Environmental Impact Finals, held during the CleanTech Innovation Ecosystem Summit at the Delaware Innovation Space on April 24. The Tech Council of Delaware returned to DC for the 2025 Technology Councils of North America Fly-in, and got some face time with Sen. McBride. TechForum's AIinDE event returns May 14 at Theatre N in Wilmington with the theme 'How Local Businesses Are Leveraging Artificial Intelligence,' featuring four speakers from Delaware's tech community. May the 4th be with you! If you're spending this Star Wars Day weekend in Rehoboth, Taco Reho will have themed specials, including Vader's Taders topped with 'darkside salsa.'
