The Powell Perspective™

06/11/2025

Publius

How the Constitution Constrains Presidential Overreach Against the States

This article discusses how the Constitution limits presidential overreach through the separation of powers and the anti-commandeering doctrine. It highlights that recent actions by the executive branch have sparked debates about the balance of power between federal and state governments. The separation of powers is a critical mechanism to prevent abuses of presidential authority, ensuring that checks and balances are maintained within the system of governance. Full article - https://statecourtreport.org/our-work/analysis-opinion/how-constitution-constrains-presidential-overreach-against-states

Rolling Back the Administrative State: Understanding Trump's Deregulatory Initiative

This article explores President Trump's deregulatory efforts, including the issuance of an executive order aimed at reducing government overreach by reviewing and modifying existing regulations. The initiative aims to ensure that federal agencies operate within their constitutional powers, focusing on cost-benefit analyses and aligning regulations with administration policies. This approach is expected to lead to significant litigation as affected parties challenge changes to regulatory frameworks. Full article - https://www.skadden.com/insights/publications/2025/02/rolling-back-the-administrative-state

The RE Doctor

This article provides a comprehensive overview of the multifamily real estate market in 2025, predicting steady but below-average rent growth and rising vacancy rates as supply outpaces demand. It highlights how new construction is at its highest since the 1980s, with the Sun Belt and Mountain West seeing the bulk of new developments, while market performance will vary regionally. The piece also discusses the impact of elevated interest rates and the importance of watching economic conditions to anticipate future market shifts.
Full article – https://mf.freddiemac.com/research/market-trends/20250108-2025-multifamily-outlook


California’s New ADU Handbook: Policy Shifts for Accessory Dwelling Units

This article summarizes the updated California ADU Handbook for 2025, detailing new state laws that streamline ADU approval, eliminate owner-occupancy requirements, and expand property owner rights. It covers changes such as allowing separate sale of ADUs, protections against restrictive HOA policies, and reduced barriers for unpermitted units built before 2020. The handbook also clarifies how ADU regulations interact with broader housing initiatives like Senate Bill 9, providing clear guidance for homeowners, developers, and local agencies.
Full article – https://www.samara.com/insights/2025-accessory-dwelling-unit-handbook

Skier Tom

PSIA-AASI Certification and Ski Instruction

PSIA-AASI offers comprehensive certification programs for ski instructors, focusing on education and training across multiple disciplines. The organization provides standards for professional U.S. ski and snowboard instructors, ensuring consistent quality in snowsports instruction. Programs like the Junior Instructor Program allow aspiring instructors to gain certification through a combination of online and in-person training. This not only enhances their teaching skills but also contributes to community development by providing well-trained instructors in local snowsports schools. Full article - https://thesnowpros.org/get-certified/

Outdoor Leadership and Certification

The Certified Outdoor Leader (COL) program by the Wilderness Education Association focuses on practical leadership training for outdoor activities, including skiing. This certification emphasizes personal growth and development, ensuring leaders are proficient in various outdoor skills. The COL is designed to integrate training with activity-specific skills, providing a comprehensive approach to outdoor leadership. It requires ongoing professional development and medical qualifications, making it a valuable credential for instructors and leaders in mountain sports. Full article - https://www.weainfo.org/col

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Founder's Paradox

The Perils of Founder Worship

This article discusses the dangers of elevating founders to a mythical status, which can lead to neglect of corporate governance and ethics. It highlights the importance of early adoption of governance standards and a strong code of ethics to ensure accountability and protect stakeholders. The piece uses the FTX saga as an example of how founder worship can lead to catastrophic consequences. It emphasizes the need for robust governance to prevent startups from circumventing legal norms in pursuit of innovation.

Full article - https://clsbluesky.law.columbia.edu/2025/05/20/the-perils-of-founder-worship/

Start Smart: Founder-Proof Your Startup

This article focuses on strategies to mitigate risks associated with founder dynamics by implementing effective corporate governance. It emphasizes the creation of an independent board of directors and regular governance practices to ensure long-term success and stability. The piece advises against appointing unqualified individuals to the board and stresses the importance of maintaining formal documentation and transparency in board meetings.

Full article - https://www.svrlawyers.com/news-highlights-posts/2025/2/6/start-smart-founder-proof-your-startup

Secrets of Capital Raising

The private equity sector is poised for significant growth and opportunity in 2025, driven by favorable macroeconomic and regulatory conditions, increased pressure for exits amid aging portfolios, and near-record levels of deployable capital. The article discusses how relaxed regulation, buoyant public equity markets, and a return of bank underwriting are creating an open credit market for sponsors. It also highlights ongoing challenges such as exit difficulties, tariff wars, and potential tax policy changes, while emphasizing that a combination of innovation, strategic investments, and dynamic market conditions is fueling optimism among private equity professionals. Full article - https://www.cbh.com/insights/reports/private-equity-report-2024-trends-and-2025-outlook/


Global Private Markets Report 2025

This report provides a comprehensive analysis of the private markets sector, including private equity, real estate, private debt, and infrastructure. It highlights recent trends in capital raising, investment strategy, and the evolving landscape of venture finance and capital structuring. The report discusses how private equity is emerging from a period of uncertainty, real estate markets are stabilizing, and infrastructure investment is growing. Key themes include the steady state of private debt markets despite economic headwinds and the strategic outlook for capital deployment and fundraising in 2025. Full article - https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report