Here’s an interesting (and potentially lucrative) Biglaw benefit, which was recently brought to our attention:
How about a Biglaw perk watch thread on associate client fees? For example, at Kramer Levin, if an associate brings a new client to the firm, he or she gets 7 percent of all fees collected from that client.
The rule applies even if the associate isn’t involved in the matter. So, for example, a litigator who brings in a corporate client would still get the percentage.
We have heard of such arrangements, although we think they tend to be more common among midsize and smaller firms, as opposed to the biggest of Biglaw shops. But even if you don’t share in the fees, it obviously helps your partnership chances if you have the power to bring in a major client (e.g., because your mom is the CEO or GC of a Fortune 500 company).
If you have thoughts or information to share, please do so in the comments. Thanks.
1. If you send one of your students to another law school, for a year-long stint as a visiting student, don’t “apologize” for it — even if that student has a severe peanut allergy, requiring the receiving school to “peanut-proof” itself for the year.
2. If you really must issue an “apology,” do so by phone or in person, not by email.
3. If you really must issue an “apology” by email, send it to the individual dean. Do not send it to a listserv consisting of the deans of ABA-accredited law schools.
Because it might get leaked to ATL:
ATL readers: Please take this opportunity to engage in a spirited debate over whether schools, airlines, and other institutions go too far — or not far enough — in accommodating people with extreme food allergies. Thank you.
We are delighted to announce that the Firm will pay special bonuses to all U.S. attorneys, in the amounts set forth below.
Class of 2000: $60,003
The special bonuses will supplement the Firm’s normal year-end U.S. bonuses. In lieu of special and year-end bonuses, U.S. attorneys may opt for a 100% equity stake in the Firm.
It is our pleasure to work with such an extraordinarily talented, quick-witted, well-read, handsome, modest group of lawyers. Thanks to your hard work, 2007 has been the Firm’s best year ever. While our securitization, antitrust, environmental, mass tort, tax, trust and estates, and patent litigation practices remain nonexistent, our bankruptcy/restructuring and general corporate practices have flourished. Profits are up infinity percent from 2006. We look forward to seeing you all and celebrating this year’s successes at the holiday party at “Go Sushi” on 51st and 9th.
The Firm urges you not to circulate this memo to muckraking legal tabloids such as Above the Law. We recognize that our special bonuses exceed those offered by Cravath and others, and we don’t want to hurt their feelings.
Judge Samuel B. Kent (S.D. Texas) joins Judge Elizabeth Halverson and Chief Judge Edward Nottingham in our Judge of the Day Hall of Fame. He will no longer be eligible for recognition as a Judge of the Day, having transcended this award.
Why is Judge Kent deserving of induction? In the Houston Chronicle, Lise Olsen offers a detailed report of the allegations against Judge Kent (which we previously discussed here and here). The money quote:
[Case manager Cathy] McBroom was summoned to the judge’s chambers on Friday, March 23, at about 3 p.m.
Her hands were full of legal papers when the judge — a former high school athlete who is more than 6 inches taller and at least 100 pounds heavier — asked for a hug.
She told him she didn’t think that was appropriate, but reluctantly approached.
The judge grabbed Mc-Broom, pulled up her blouse and her bra and put his mouth on her breast. Then, Kent forced her head down toward his crotch.
As McBroom struggled, Kent kept telling the married mother of three what he wanted to do to her in words too graphic to publish. The papers fell to the floor. The pet bulldog Kent kept in his chambers began to bark.
The incident was interrupted by the sound of footsteps from another staff member in the corridor, and the judge loosened his grip. As she left, the judge said McBroom was a good case manager and then made suggestions about engaging in a sexual act.
McBroom ran out crying.
Review additional allegations, including a claim by a different ex-employee that Judge Kent once told her he could “service me when my husband was being treated for prostate cancer,” by clicking here. How far did this federal judge go? [Houston Chronicle]
Paging laid-off (or about-to-be-laid-off) associates: Looking for a new career? If you’re culturally literate, possessed of good taste, and great at slaving away for law-firm partners — which, given your job experience, you probably are — think about becoming a “personal manager.”
From the New York Times:
Looking for someone to curate your life? Need a personal concierge whose expertise is not picking up dry-cleaning but helping chose your wardrobe, your tastes, your friends?
[Allison] Storr calls herself a personal manager, but her duties go far beyond that. Her clients, all of them men, pay monthly fees of $4,000 to $10,000 to have her be their personal decider in nearly all things lifestyle-related.
And there’s a fun Biglaw blind item in the article:
A partner in a New York law firm, who agreed to be interviewed if he was not named to protect his privacy, said he has employed Ms. Storr for two and a half years. Last summer, Ms. Storr organized an ’80s theme party at the lawyer’s house in the Hamptons for about 200 of his friends, with a $5,000 budget. “It was honestly one of the most fun parties out there,” the lawyer said. “By now all my friends know that Allison works for me.”
He calls her an outsourced wife. “The nice thing is that when I ask her to do something, she gets it done and there’s no negative feelings.”
Putting together a summer party for 200, on a budget of just $5,000, is an impressive feat. Shouldn’t a Biglaw partner cough up at least five figures for a fabulous fete? Need a Life? She’ll Arrange One [New York Times]
So just how large was the settlement in Charney v. Sullivan & Cromwell? Professor Scott Moss argued it was probably modest, while Professor Art Leonard believed it to be more substantial.
Here’s some evidence in favor of a larger settlement:
On Saturday at around 5 p.m., I spotted Aaron Charney in a cafe, in the bucolic town of Cold Spring, New York. I would have gone up and talked to him, but I realized who he was too late.
He was dressed in preppy fall wear, very J. Crew, with a wool hat. He was with two friends, and he was joking with them. He looked happy.
A day without bonus announcements is like a day without sunshine. And for a while it looked like today was going to be one dark day — perhaps fitting, given the stock market tumble.
But Kramer Levin has come to the rescue. Check out their bonus memo, after the jump.
It’s Friday, just shy of 5 PM Eastern time. Where are the bonus announcements? The silence is suspicious. If you’re sitting on bonus news that we haven’t reported, please reach out to us by email (subject line: “Associate Bonus Watch”). Thanks.
* Ann Althouse: We love it when she gets medieval — or should we say me-diva? — on a hapless blogger’s a**. [Althouse]
* Jesse Sneed: The Indiana University law student, who riddled his casebooks with bullets, is going home to grandma. [Blogonaut]
* Tim Wu: These ladies aren’t the only ones in love with the high-profile prof; Google thinks he’s pretty cool, too. [BusinessWeek]
* Barry Richard: S**tstirrer extraordinaire. [National Law Journal]
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.