Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Is tHE ERA Of the evil general counsel finally over? For most of 2002, it seemed that every month a prominent in-house lawyer — most notably at Tyco, Andersen, or Enron — raced through his perp walk, squirmed before Congress, or departed from his job in flames. Perhaps the worst offenders have finally been ferreted out. At the least, somebody cued the white knights. They emerged in the form of William Donaldson, Harvey Pitt’s replacement at the Securities and Exchange Commission; Benjamin Heineman, Jr., who recently launched a landmark corporate governance proposal at GE; and veteran GC and former litigator William Lytton, who took the legal helm at Tyco late last year. The SEC’s pullback on the Sarbanes-Oxley legislation is also a sign that in-house lawyers are shedding their evildoer reputations. As we went to press in late January, the agency scaled back some of its proposed reporting requirements for lawyers who become aware of “material violations” by their clients. For many corporate counsel, the SEC’s step was a crucial and encouraging move. (We’ll have a lot more on the agency’s retrenchment in our special Corporate Governance issue next month.) We’ve got our own GC hero in this issue, Allegiance Telecom, Inc.’s Mark Tresnowski (see “Winning Allegiance,” page 64). His enemy isn’t nefarious executives, but skeptical Wall Street bankers. He leapt over rivals (Dallas doesn’t have enough tall buildings) with a low-key, no-litigation strategy toward the Baby Bells that helped the company make huge inroads in the local business phone market. But that’s not enough. Now, in a riveting tale by staff reporter Ashby Jones, Tresnowski has to cajole a group of banks into giving Allegiance more time to come up with the $660 million it owes them by the end of April. Will our hero succeed? Stay tuned.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.