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From time to time, clients ask counsel and brokers about the pros and cons of using an assignment versus a sublease to effect a transfer of possession and a transfer of obligations with respect to leased premises. With about equal frequency, questions come up regarding the differences between assignments and subleases, and ‘whether those differences really make a difference’ after all is said and done. While assignments and subleases are both means to achieve substantially similar ends, they do yield different legal and business results. The purpose of this paper is to explain and discuss some of the similarities and some of the distinctions between assignments and subleases, both from a legal perspective and from business and practical perspectives, and to discuss some of the reasons that the different parties involved in such transactions may prefer, or wish to select one of these transaction forms over the other.

The tragic events of 11 September 2001 have caused people in all walks of life around the world to pause and reflect about what is important to them. With the World Trade Center, one of the icons of global capitalism and New York’s skyline, reduced to a heap of burned and twisted rubble at ‘Ground Zero’ in lower Manhattan, the world of commercial real estate is undergoing a time of reflection in the wake of these unbelievable events. While the catalyst for this time of reflective analysis was at the same time both horrific and compelling, the careful consideration of relevant lease issues and of the need for disaster recovery planning that has resulted will help everyone to be better prepared for unexpected events of any kind in the future. The purpose of this paper is to identify three standard lease provisions that have always been important, but now bear even closer scrutiny in the aftermath of the catastrophic losses of 11 September. These provisions are: Casualty; Interruption or Unavailability of Services; and Insurance. Most form leases contain provisions that address these subjects and raise various issues that are ripe for re‐examination. This paper discusses how such issues might be analysed (or re‐analysed) in the aftermath of this senseless tragedy. Please note that the legal conclusions, practices and norms outlined in this paper are generalised from a United States perspective and, as such, the norms and potential solutions may vary in other countries and on a case‐by‐case basis within a country. Further, the starting point and, often, the ending point in the analysis of any leasing issue is the specific language of the lease, which itself is subject to any applicable laws of the relevant legal jurisdiction. It is important to consider the issues and analysis discussed in this paper in light of the specific market norms and laws of the jurisdiction which are applicable.

Chemistry as an applied science suffers from the fact that its necessarily close connection with various branches of industry is ill defined and generally very unsatisfactory in character. One result of this is that those who have made chemistry their profession find themselves more often than not in the position of having to subordinate their professional instincts to the temporary exigencies of some particular branch of trade and to find their professional status called in question and criticised by those who are not in the profession itself and who have no right to criticise.

The emergence of social media as a corporate disclosure channel has caused significant changes in the production and dissemination of corporate information. This review identifies important themes in recent research on the impact of social media on the corporate information environment and provides suggestions for further explorations of this new but fast-growing area of research. Specifically, we first review the evolution of Internet-based corporate disclosure and related regulations, and then focus on three recent streams of research: 1) companies’ use of social media; 2) information produced by non-corporate users and its impact on capital markets; and 3) the credibility of corporate information on social media platforms.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Tenn. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.