September 2008
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Bear Stearns, Job Survey, Wall Street
Associate Life Survey: Life After Lehman Brothers?
As the Fed steps in to save the financial world with a bridge to nowhere AIG, we pause to reflect on the results from Monday’s ATL / Lateral Link survey, which asked whether the woes of Lehman Brothers and Merrill Lynch would hurt your career. We received 830 responses, and quite a few of them […]
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We have to at least entertain the possibility that the tanking economy could fundamentally change the Biglaw lifestyle that we have come to know and bilk. We could see flat salaries, tepid bonuses, and decreased job security over the next few years. Maybe this is the perfect opportunity to break out of the “top school-top […]
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“I’ve landed a job as an associate at a top law firm, but why am I paying 7% on my student loans?”
I became a lawyer without really understanding that the job cuts time off of your life. My work hours are long, I can’t see my family or friends, and I am constantly at the mercy of the partner or the client. On top of everything, at one point, I was paying 7% on my law school loans. […]
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* The Fed reverses course and agrees to bail out insurance giant American International Group. [Forbes] * Alaskan lawmakers file suit to stop the “Troopergate” investigation of Sarah Palin. [New York Times] * Eight lawyers are on the American Lawyer’s 2008 Lifetime Achievers list for “history-making accomplishments.” [American Lawyer] * The law against baggy pants […]
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Musical Chairs: Covington & Burling Snaps Up Heller’s IP Department
It turns out that the mystery meeting at Covington & Burling involved some great news for Covington, and some bad news for Heller Ehrman. Fifteen IP partners will be leaving Heller to join Covington, as Covington expands into Silicon Valley. The Daily Journal reports that in the wake of the latest defections and yesterday’s failed […]
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* Cyrus Mehri is ready to take on the advertising industry for its depiction, or lack thereof, of African-Americans. Dyn-o-mite! [Gawker] * Need help picking out a work appropriate nail salon on your lunch hour? Might I suggest a partial frontal lobotomy instead? [Corporette] * Who is going to replace financial services clients? Tech firms? […]
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Crime, Lawyer of the Day, Politics, Sex
Lawyer of the Day: Gabriel Schwartz
It seems that things have been going pretty well for Gabriel Schwartz. A 2004 graduate of the University of Denver College of Law, the 29-year-old is already the founder of a law firm, Sandomire & Schwartz. He’s president of his own company (PDF). And he was selected to be a Colorado delegate to the Republican […]
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Hot New Trend: Fighting Price-Gouging
(Or, Attorneys General, Unite!)In Monday’s morning docket, we asked whether price-gouging investigations during hurricanes were the new trend among attorneys general. Judging from the many investigations launched over the past week, the answer is a resounding YES. Louisiana AG Buddy “Rattlesnake” Caldwell caught our attention for his battle cry against high hotel and gas prices during Hurricane Gustav. […]
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The Meltdown Awards:
Law Firm Winners and LosersThough the dust has far from settled, it’s time for ATL to hand out some awards to the law firms and other participants that have done well for themselves, or wet the bed, as Wall Street runs with blood. The Grim Reaper Award: Weil Gotshal & Manges. Weil will be Lehman’s bankruptcy counsel, and they’ve […]
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Bad Ideas, Email Scandals, Law Schools
More Advice for Law Students: Don’t Do This
We recently offered some helpful hints for new law students, distilled from over 200 reader suggestions. We now have an addendum to our list of tips, based on an ill-advised email that found its way into our inbox. Some background: Today, all members of last year’s Law Review Editorial Board at [George Washington University Law […]
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Lessons Learned from the Top eDiscovery Cases and Trends from 2014
The adage that law turns slowly does not hold in eDiscovery. This year saw unprecedented sanction awards for falling behind the curve. Courts did not hesitate to engage with advanced and nuanced technological issues. For lawyers and other eDiscovery professionals who plan on maintaining basic competence, these cases and trends shouldn’t be overlooked. For a full exploration of trends and developments in this area of case law, check out this on-demand webinar.
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We received a very interesting offer letter for the 2009 summer class sent out by Proskauer Rose: Our compensation level for next summer has not yet been set, but it will be no less than $3,077 per week – the salary that we paid to those summer associates who were with us in New York […]
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Open Thread: Is In-House Still Worth It?
It wasn’t long ago that both associates and partners regarded moving in-house as a “golden ticket.” Better hours, comparable pay, and a sweet “Executive Vice-President” title. Now? Ask former firm lawyers who went over to Bear Stearns, Lehman, Merrill, or WaMu how their new gigs are working out. For that matter, ask attorneys at JPMorgan […]
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Uncategorized
Sidley to Associates: Be Cool Boy
What do you do when your biggest client gets sold to a bunch of guys from North Carolina? What can you do other than keep cool? While Sidley Austin declined to comment to ATL on the Merrill Lynch/Bank of America merger, they did send around an internal memo to their associates. Sidley essentially told their […]
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* Judge James Peck, the second-most junior bankruptcy judge in Manhattan, will handle the Lehman case, the biggest bankruptcy in history. [Bloomberg] * No vroom for snowmobiles in the national parks, rules Judge Emmet Sullivan. [New York Times] * First day of the O.J. Simpson robbery trial. But people are already totally over it. No […]
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Email Scandals, Paul Clement, Solicitor General's Office, Weirdness
An Email From the Former Solicitor General?
Could it be? A message for ATL from Paul Clement, the 43rd Solicitor General of the United States? (It’s not completely out of the question. We have written about Clement a fair amount, and we have also met him in person.) The lowercase type for his name seemed a little odd. But some very prominent […]
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Heller Ehrman, Law Firm Mergers
Law Firm Merger Mania: The Heller / Mayer Merger Is Off
Last month we reported on merger talks between Heller Ehrman and Mayer Brown. Those talks have now been called off, as reported earlier today by Am Law Daily. This leaves the San Francisco-based Heller with another failed romance. From an email sent out today on behalf of Mayer Brown chairman James Holzhauer: As you are […]
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* The many beautiful lawyers of Boston calendar is available. None of them are as beautiful as Anna Torv, the star of Fox’s new hit Fringe, but you have to dig the beautification of Boston. [f/k/a] * Global warming as a defense for eco-terrorism? Not in America, at least not yet. [The Independent] * The […]
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Law Firm Mergers, Musical Chairs
Covington & Burling’s Mystery Meeting
A couple of tipsters have let us know that Covington & Burling has scheduled a firmwide meeting tomorrow. We don’t think they’re going to announce a merger (because no suitable partner comes to mind). We have it on good authority that they’re not announcing layoffs (or anything else negative). So what gives? Why does a […]
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Disasters / Emergencies, Locke Lord Bissell & Liddell
Houston Lawyers Get Back To Work After Ike
In the aftermath of Hurricane Ike, the Houston legal community is getting back to work. WRAL news channel 5 reported that Locke Lord Bissell & Liddell expects to reopen Wednesday. Andrews Kurth has their attorneys working remotely. According to the WRAL report, an Andrews spokesperson said, “all of our BlackBerrys are working.” Other Houston area […]
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KINNEY’S TOP DOGS IN HONG KONG OVER THE NEXT 10 DAYS
For about the 40th time in the last five years, Kinney Recruiting’s got a team flying to Hong Kong for visits with clients and candidates. Please feel free to reach out to Evan and Robert at asia@kinneyrecruiting.com and set up a meeting with them if you would like to discuss your career and the market.
