The Economic Impact of Michigan State University

Sallee, Rosaen, Anderson

An analysis of the net economic impact and economic benefits that Michigan State University (MSU) provides the State of Michigan

Damages in Antitrust Cases: AEG Working Paper 2007-02

Anderson, Geckil, Bolema

In this article, the authors use their practical experience in industries in which antitrust issues commonly arise, and their experience in estimating commercial damages in breach-of-contract cases, to examine the issue of properly identifying and estimating antitrust injury.

Amicus Curiae Brief to the U.S. Supreme Court re: Resale Price Maintenance

Anderson, Bolema

A brief filed by Anderson Economic Group in the U.S. Supreme Court in the matter of Leegin Creative Leather Products, Inc., v. PSKS, Inc., dba Kay’s Kloset…Kay’s Shoes. Brief addresses resale price maintenance agreements and per se illegality under the Sherman Act and anti trust provisions.

Three Essential Factors in Estimating Business Value or Commercial Damages

Anderson, Geckil, Funari

The income approach is a common and accepted manner of estimating the value of both publicly-traded and closely-held businesses, as well as calculating certain types of commercial damages. The most common method within this approach is known as “discounted cash flow” or DCF.

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Review of the Proposed “K-16” Initiated Law

Rosaen, Sallee

This report reviews the likely effect of the proposed “K-16” initiated law, which will be Proposal 5 on Michigan’s election ballot on November 7, 2006. In this report we describe how each provision of the K-16 initiated law would change the School Aid Act. We then forecast, using assumptions based on historical data on Michigan’s economy, taxation, and expenditures, the cost impact that would likely result if the K-16 law is adopted and implemented. We also review a number of important Constitutional questions. We estimate that the additional cost of this proposal will be…

Automation Alley's Second Annual Technology Industry Report: Driving Southeast Michigan Forward

Watkins, Sallee

The report quantifies the size of the industry in terms of employment, establishments, and payroll. It also assesses areas of the technology industry that signal future advances, such as R&D spending and patent awards, and takes a closer look at the life sciences technology industry

Economic Impacts from 2006 Detroit Tigers' Game Attendance

Watkins, Rosaen

Regardless of how much these baseball fans spend before, during, and after the games, it is a safe bet that the Detroit area economy has benefited from extra attendance at Tigers’ regular season games, and will further benefit from the playoff games. Our analysis concludes that..

A Critical Review of the Impacts of New Buffalo Casino Development

Anderson, Watkins

Economic Diversification & High-Tech Employment in Oakland County, Michigan

Patrick L. Anderson, Ian K. Clemens, Christopher Cotton

Report determines Oakland County’s diversification among industries, and examines Oakland’s share of employment in the High Tech Industry.

Michigan Business Corporation Act Amendments: A Shareholder Rights Perspective

The Taubman Company is a Real Estate Investment Trust (REIT) with more than 30 premier shopping centers located in 13 states. A Michigan corporation, the Taubman Company trades on the New York Stock Exchange under the symbol “TCO.”

In late 2002 the Taubman Company became the target of a hostile takeover bid made by rival Simon Property Group (SPG). In defense, Taubman management and major shareholders announced their intent to vote their shares in opposition to the takeover. SPG claimed that this intention triggered an obscure provision of Michigan’s Control Share Acquisition Act, and a federal judge agreed, thus disenfranchising some 33.6% of TCO voting shares. However, the judge’s opinion did leave the door open for State Legislators to clarify the intent of the Act, which was originally passed to make Michigan businesses less prone to hostile takeovers.

The Taubman Company’s legal team retained Anderson Economic Group to assess the proposed and existing legislation. As part of this, Anderson Economic Group released “Michigan Business Corporation Act Amendments: A Shareholder Rights Perspective,” which was used by the Taubman Company to highlight the benefits of clarifying the law. AEG also analyzed shareholder support for the takeover offer, provided independent research on a 1998 restructuring of the Taubman Company incorrectly portrayed by SPG, and compiled information on the legislation and the related court ruling for distribution on www.AndersonEconomicGroup.com.

Additionally, AEG Principal Patrick Anderson testified at State House and Senate Committee Hearings about the need to clarify the Michigan Control Share Acquisition Act. Ultimately, this clarifying legislation became PA 181 and was passed by Michigan lawmakers, providing better protection of shareholder rights, and restoring the legislative intent of protecting Michigan Companies from hostile takeovers.