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National Journal's Under the Influence

EARLYBIRD

Tuesday, June 23, 2009 8:30 AM

From this morning's Earlybird:

• "Rep. Jim Oberstar (D-Minn.) has a powerful ally in his battle with the White House over the highway bill: K Street," The Hill reports. "Trade associations, unions and business coalitions are getting behind the House Transportation Committee chairman in his push to complete the $450 billion measure before the fiscal year ends on Sept. 30."

• "The PMA Group, the lobbying titan that closed its doors in March after an FBI raid, has filed more than a dozen lawsuits against former clients for failure to pay outstanding debts," Roll Call (subscription) reports. "Now, one company has responded with a $3 million countersuit that alleges PMA cheated it out of an earmark it was expecting to receive."

• "Nine major financial and real estate lobbying associations are joining forces to push for a greater say in a series of accounting rule changes, one of which could soon force banks to raise tens of billions of dollars in capital," The Hill reports. "A recently adopted accounting rule effective at the beginning of 2010 requires firms to bring off-balance sheet assets onto their own balance sheets."

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