Bernard Black, the George E. Osborne Professor at Stanford Law School and a leading figure in corporate law and law and economics, has accepted the offer from the University of Texas School of Law, to start this fall. Together with the establishment of the new Center for Law, Business, and Economics, under the leadership of Ronald Mann (whom we recruited from the University of Michigan Law School last year), Texas is now solidly in the top ten in the business law areas. (Last year’s ranking of schools in the business law area by faculty quality is here. Since that time, Black at Stanford has accepted an offer from Texas; Daines at NYU has accepted an offer from Stanford; Hansmann at Yale accepted an offer from NYU, and then, already, decided to go back to Yale; and Brubaker (bankruptcy) at Emory has accepted an offer from Illinois.)