Estimating that over 125 cement trucks will be delivering loads for a big pour today, the Chicago Tribune warned commuters to avoid Wacker Drive, especially around Randolph and Lake Streets. Here's crews and trucks at work as I walked past on the way to work this morning.....
A federal court in Puerto Rico recently decided that the D'Oench, Duhme doctrine applies to deny claims for breach of informal employment contracts by former employees of failed banks. And D'Oench's statutory supplement, Section 13(e) of the Federal Deposit Act (the "FDI Act", also referred to as 12 USC §1823(e)), applies too. The decision: Ortiz-Hernandez v. WesternBank of Puerto Rico (PDF).
Rafael Ortiz-Hernandez worked as an employee for Westernbank of Puerto Rico. He resigned in the spring of 2008 and, as part of his departure, entered into a severance contract with the bank. The severance contract didn't mention a Christmas bonus (the employee had traditionally received a $13,000 bonus each Christmas from the bank). Despite the omission, the employee claimed that bank executives assured him he would still receive $13,000 as a bonus the following Christmas. The assurances weren't written. When Christmas arrived, the bank paid him less than $13,000 as a bonus. So, the employee sued the bank for the remainder of his bonus.
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