Michael J. Graetz, the Justus S. Hotchkiss Professor of Law at Yale, is leaving Yale after nearly 25 years to join the faculty at Columbia in 2009.  From the Columbia press release:

"Professor Graetz is a sensational addition to our intellectual community,” Dean [and Tax Prof] David M. Schizer said. “He brings extraordinary insight and eloquence to the most important and difficult problems in taxation, and his work has had profound impact on a broad audience, ranging from legal academics and economists to practicing lawyers, government officials, and lay readers.” …

“I’m looking forward to the opportunity to interact with the tax policy community at Columbia and throughout New York,” Graetz said.

This is an enormous loss for Yale, especially when coupled with Anne Alstott’s move to Harvard.