Santa Clara Valley Chapter and Golden Parachutes.

Mary L. Hevener, tax partner in the Washington, D.C., office of Weil, Gotshal & Manges, addressed the Santa Clara Valley Chapter on April 18. Ms. Hevener's practice focuses on benefits provided to employees and independent contractors outside of qualified retirement plans. Her remarks addressed executive compensation issues arising from mergers, acquisitions, and changes in control. She touched lightly on various issues and provided detailed explanation of golden parachute payments. The seminar was well received. At its conclusion, Ms. Hevener was described as the only person on the face of the earth who could turn golden parachutes into an interesting topic.

On April 11, Brendan Sugrue and Susan Baker, tax partners with Ernst & Young, updated chapter members on recent international tax developments. Topics discussed included a review of the "check the box" anti-abuse rules, an update on recent WTO activities with regard to FSCs, and the new business paradigm: How Technology Companies are Evolving over Time and the Changing Tax Needs that Result.

In March, two breakfast meetings were held by the chapter. The first on March 14 addressed Federal Hot Topics. Harrison Cohen of Arthur Andersen's Office of Federal Tax Services in Washington, led an informal discussion primarily focused on the recent temporary regulations on corporate tax shelters. The second meeting on March 28 was devoted to State & Local Hot Topics. At this members-only meeting, there were candid discussions of issues raised on audit by state and local auditors.

Looking forward, mark your calendars now for the full-day Baker & McKenzie International Taxation seminar on October 3, 2000. Attendance is open to all chapters and to TEI members and non-members alike. For information, contact Debbie Wittick at [e-mail].