Venture Capitalists Applaud Candidate Dole, Await President's Response on Proposition 211.WASHINGTON, D.C.--(BUSINESS WIRE)--Aug. 7, 1996--National Venture Capital Association President Carl Thoma today congratulated Republican presidential candidate Bob Dole dole, distribution to the poor, usually of food or money. In medieval times doles were usually from bequests of money or land, and the income was given to charity or distributed to the local poor at funerals. for announcing his opposition to California Proposition 211. "Bob Dole's strong statement urging California voters to defeat Proposition 211 demonstrates his commitment to entrepreneurs, investors, emerging growth companies and a sound economy," stated Thoma. Candidate Dole's action comes on the heels of a letter signed by six California Democratic Congressmen urging President Clinton to oppose Proposition 211. The President has met with California venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. and Silicon Valley CEO's on several occasions regarding the issue, but has yet to announce a position on Proposition 211. Noted NVCA NVCA National Venture Capital Association Director of Legislative and Entrepreneurial Affairs Mark Heesen, "when President Clinton vetoed the federal Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act, he did so on very narrow grounds. Proposition 211 not only emasculates the new federal law, it makes previous law look palatable pal·at·a·ble adj. 1. Acceptable to the taste; sufficiently agreeable in flavor to be eaten. 2. Acceptable or agreeable to the mind or sensibilities: a palatable solution to the problem. in comparison. The President has an easy decision here...oppose Proposition 211." "The venture capital community has a deep interest in seeing that Proposition 211 is defeated in November. California is a haven for venture capital investment. Silicon Valley was built on it and the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. biotechnology community would not exist without it. However, passage of Proposition 211 would cause many venture capitalists to forgo investing in California high technology companies," stated NVCA Executive Director Daniel Kingsley. Proposition 211, the Attorney-Client Fee Arrangements, Securities Fraud, Initiative Statute, was drafted by and is promoted by securities litigation law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
The National Venture Capital Association is composed of over 230 professional venture capital organizations with more than $30 billion of capital under management. CONTACT: National Venture Capital Association Mark Heesen, 703/351-5269 |
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