Heard on the Street

REJECTED

The American Bar Association has rejected the concept of multidisciplinary practice. Discussion of the issue began last year when a special ABA commission unanimously recommended that lawyers be allowed to partner with professionals from other disciplines, according to Briefly ..., the Missouri Bar's media update. The commission had urged the bar to revise the ABA Model Rules of Professional Conduct to allow fee sharing between lawyers and other owners of multidisciplinary practices. The ABA voted July 11 to maintain its position that lawyers not be permitted to share fees with nonlawyers and that nonlawyers not be permitted to own or control entities that practice law. Court-imposed ethics rules for lawyers have discouraged fee-sharing and mixed professional partnerships since 1908 and expressly barred them since 1969.

CELEBRATION

The third annual Ozarks Celebration Festival will be held Aug. 26 and 27 in front of Carrington Hall and inside the Plaster Student Union at Southwest Missouri State University, according to events coordinator Tobin Bushman. Sponsored by SMSU's Ozarks Studies Institute, the festival features more than 50 traditional craftspeople and commercial artists; traditional, bluegrass and gospel music; storytelling; traditional dance including clogging and square dancing; films; exhibits; food and more. Free parking and shuttle service will be offered at the parking lot at Grand and National For more information on the Ozarks Studies Institute and the festival, check out ozarksstudies.smsu.edu online.

THE WORLD

Among the unique properties represented by Christie's Great Estates affiliate Letty Van Kleeck (see the story on page 22) is ResidenSea's 12-deck residential ocean liner, The World. The floating residential resort will continuously circumnavigate the globe, offering 250 days in port each year and extended stays for such special events as the Cannes Film Festival and Carnival in Rio. Amenities include a health spa and fitness center, restaurants, casino, library, putting greens, full-size tennis courts and a jogging track, as well as executive services including satellite communication, computers and Internet access, secretarial services, interpreters, translation services and meeting space. How exclusive is it? While prices begin at $2 million, ResidenSea notes on its brochure, "Offers to purchase a residency will be accepted only from persons with a minimum net worth of $5 million and who meet certain other qualifications."

STRENGTH

According to Weiss Ratings Inc., Guaranty Federal Savings Bank in Springfield is among the five strongest banks and thrifts in the state of Missouri. Weiss gave Guaranty Federal an A safety rating. Also making the list were First Bank of Missouri in Gladstone, First National Bank in Camdenton, Bank of Lee's Summit in Lee's Summit and Mercantile Bank in Louisiana, Mo. Weiss Ratings Inc. issues safety ratings on more than 16,000 financial institutions and rates the risk-adjusted performance of more than 10,000 mutual funds.