Media Mentions
2008
Joel G. Chefitz was quoted in the May 28 issue of Global Competition Review in an article regarding a settlement the National Association of Realtors (NAR) recently reached with the U.S. Department of Justice that increases competition between online and office-based residential real estate brokers by giving internet-based brokers access to multiple listing services they were blocked from accessing. He noted, however, that the settlement will likely bring "only modest benefits" for online brokers. "My understanding is that NAR suspended the challenged restrictive policy in 2005 after the DoJ filed suit, and the settlement appears to make that suspension permanent. Notwithstanding the relaxation in policy since 2005, commissions reportedly have held steady and online brokers still account for less than 10 percent of the market. Consumers apparently prefer flesh-and-blood agents to the virtual variety," he said.
Joel G. Chefitz, Antitrust & Competition, Trial
Joel G. Chefitz was quoted in a February 8 article published by the Chicago Tribune regarding the urgency felt by bankers and executives to complete complex deals and mergers while President Bush is still in office. Mr. Chefitz stated that the threat of political change can be an effective tactic for accelerating negotiations. "Having been through a lot of mergers, I'd say that those pushing a merger are probably focusing on this being the last year of a Republican administration. That may be more a matter of negotiation than genuine concern," he said.
Joel G. Chefitz, Mergers & Acquisitions, Trial
2007
Joel G. Chefitz was quoted in a November 15 article published by the Chicago Tribune regarding rumors of a possible merger between United Airlines and Delta Air Lines. A major shareholder of both airlines sent a letter urging Delta to pursue a merger with United's parent company, UAL Corp. Although both sides deny that a deal is being negotiated, Mr. Chefitz noted that if the airlines can show that a merger would significantly reduce operating costs in the face of astronomical fuel prices, they would have a very persuasive argument for gaining approval from federal antitrust authorities. "I think the climate for getting an airline merger through right now is a lot better than it was when United failed to acquire US Airways," Mr. Chefitz said. Mr. Chefitz was also quoted in The Providence Journal on November 16.
Joel G. Chefitz, Airport & Aviation, Mergers & Acquisitions, Trial
Joel Chefitz was quoted in the January 9 issue of The National Law Journal in an article regarding his move to McDermott to head the securities litigation practice in Chicago. "I was just convinced in this marketplace in Chicago, the resident firms are those with a substantial presence and they're though to beat," he said.
