Top Biglaw Stories of 2008: #2 and #1 (Gossip)
Finally, the moment you’ve all been waiting for: time to announce Above the Law’s top two stories for 2008, on the gossip front. We’ve also been recapping the top stories on the business side of the fence, but stories about the business of law are available from many other outlets. Juicy law firm gossip is harder to come by.
Our two leading gossip stories were broken here at ATL. They were subsequently picked up by mainstream media outlets, but we covered them first.
Read about the two stories, after the jump.
In early December 2008, prominent New York litigator Marc Dreier was arrested in Canada. Dreier, the founder and sole equity partner of Dreier LLP, was charged with impersonating a lawyer at the Ontario Teachers’ Pension Plan. The allegation is that Dreier’s impersonation attempt was made in connection with an attempt to sell fraudulent promissory notes in the real estate development company of Sheldon Solow, a former client.
When Dreier returned to the United States, he was hit with charges from the U.S. Attorney’s Office (S.D.N.Y.) and the Securities and Exchange Commission. They allege that Dreier engaged in an elaborate series of ruses in an attempt to sell fake promissory notes by Solow. The sums involved allegedly reach into the hundreds of millions (small change compared to the alleged Ponzi scheme of Benard Madoff, but nothing to sneeze at).
And that wasn’t all. Tens of millions of dollars turned up missing from Dreier LLP escrow accounts. It came to light that the firm was far behind on its bills. In mid-December, the firm filed for bankruptcy protection.
What next for Dreier? Stay tuned. He’s being held without bail, deemed a flight risk by the prosecution and the court. It’s safe to say that his days of cavorting with celebrities and dating Maxim models are probably over.
1. The Paul Hastings Farewell Email of Shinyung Oh
When Paul Hastings decided to lay off Shinyung Oh, they didn’t know who they were messing with. Oh, who was laid off barely a week after suffering a miscarriage, gave the PH partners a piece of her mind in a celebrated email. Our recap won’t do it justice; reread it by clicking here.
The ensuing controversy turned into a public relations debacle for Paul Hastings, which was roundly condemned in many quarters. In opinion polls on ATL taken at the time, 46 percent of respondents said they had a “very unfavorable” opinion of the firm, and another 34 percent said they had a “somewhat unfavorable” opinion. Meanwhile, Shinyung Oh was viewed very favorably or somewhat favorably by almost 80 percent of respondents. Shinyung Oh 1, Paul Hastings 0.
And what has this heroine of Biglaw associates been up to lately? Here’s what we learned:
Shinyung Oh has spent the remainder of 2008 in various cafes in San Francisco, working on her writing and trying to undo the 10 years of BigLaw indoctrination. Her first magazine piece will be published in January, and she continues taking writing courses and posting in her blog Because You Never Know.
Now, her post-PH life hasn’t been the proverbial bowl of cherries. From one recent blog entry:
I’ve been frustrated by my slow progress in figuring out my new direction. I’ve made so little progress and have been irritated with myself for having squandered so much time. It has been eight months since I got booted out of Paul Hastings, and I have very little to show for it. This period has been the most unproductive since I left law school. I keep asking myself, why can’t I get it together?
In the rest of the entry, Shinyung Oh offers some thoughtful and eloquent reflections on how easy it is for lawyers to get pigeonholed as lawyers — even if practicing law isn’t really what they wanted to do with their lives. We suspect these concerns may resonate for some ATL readers.
The road to professional satisfaction can be long and winding, but we predict that Shinyung Oh will reach her destination in the end. If you’re still on that same journey, dear reader, we wish you the best of luck.
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Comments
LAST!!!
two two
I AM THE NEW KILLING IT!
Comment removed by moderator.
4 needs to be banned. The links are no big deal, but says "Jews are despicable" is straight up hate speech and should not be tolerated on this website.
4 needs to be banned. The links are no big deal, but to say "Jews are despicable" is straight up hate speech and should not be tolerated on this website.
Watch this CBS news video to see a doctor describe the massacre in Gaza http://www.youtube.com/watch?v=Ev6ojm62qwA
The Pope calls Gaza a concentration camp. http://www.reuters.com/article/latestCrisis/idUSL8378047
Jews you work with are similarly despicable.
Moderator removed by comment.
Thanks for the link to Shinyung's blog. She writes beautifully. Kudos for making her story the #1 story. It wasn't just gossip, it was a wake-up call for all of us about the priorities of law firms, and the sacrifices required to work there.
7, you are a despicable bastard. I am deeply troubled that you exist and I would like to remedy the situation as quickly as possible. In your next post attempting to hijack a completely unrelated story please post your name and address so we can settle this in person. I would very much appreciate your cooperation in this matter.
ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ
Jesus, what's the deal with the anti-semitism posts?
<---- Gentile who has become mildly concerned.
Can you PLEASE remove comment 4 and prevent this idiot from continuing to post??!?!?! This is NOT the forum for this crap!
I will stare you in the face #7 and eat a blowfish raw dog. That is how strong and tough I am. You got nothing on this warrior-associate.
I'm curious--why is it okay to belittle and insult every other racial, ethnic and minority group on this blog-- except for Jews? I have NEVER seen any comment about a black, latino, gay, etc. deleted from this blog, no matter how useless, hateful and vile--but NOW you're deleting comments?
7's comment is neither relevant nor witty. Please remove it and his personhood, if relevant.
6, shut the fuck up. He shouldn't be moderated because it is hate speech. He should be moderated because it is fucking unrelated and really screws up the people who would like to comment on the story because they have to wade through a bunch of unrelated crap. Even if he didn't say that "jews are despicable" he should still be moderated. It is really upsetting that when there is a legitimate reason to sensor someone like #4 people go the "hate speech" instead. This vague and over-used terminology is useleless and should not be employed by educated people. Simply yelling that something is hate speech is not a reason in and of itself to censor it.
Black latino gay islamic jews 4 jesus = TTT
17, 6 here and I disagree. What are you going to do about it aside from yell obsenities?
Thats what I thought.
It's outright racist. Delete his posts, but don't pay him attention.
HEY LAT, HOW COME THE POSTERS CAN CALL ELIE RACIST TERMS, POINTING OUT THAT HE'S BLACK AND ACCUSING HIM OF BEING AN AFFIRMATIVE ACTION CASE ALL DAY, AND YOU DON'T DELETE THOSE?
I think 18 is the most racist person on the planet. He probably smacks babies and kicks puppies too.
19, the point is that you shouldn't delete it just becase it is prejudiced against a certain group. If the comment was relevant to the story leave it no matter how the DB decides to express himself. It is a free speech issue. The comment should be deleted because it is irrelevant to the topic.
-17
15 raises a good point.
Maybe you should just delete this thread...we're clearly off topic now
Shinyung Oh = BUTTCHEEKS poster
TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT HA
I hope Oh's book has a ghostwriter. Her blog's prose is sophomoric and tortured.
If you hate a person, you hate something in him that is part of yourself. What isn't part of ourselves doesn't disturb us.
- Hermann Hesse
15, Let's all agree to use the term "MADOFF" in place of "JEW" to avoid being censored on this forum. I believe that term sums up all of the frustrations in one word.
29, that is the dumbest fucking thing I have ever heard. .
She doesn't write "beautifully": her blog is as full of spelling and grammatical errors as her original letter. What a weird double standard people at this board employ.
30 - you loved him when he made you money though?
30 - Let's then all agree to use the term "Hitler" for all people using the term "Madoff." I believe he had some of the same frustrations.
9 - agreed on all points.
28 - so what? I hope for a lot of things to. For example, I hope you get a life someday -- does it matter? Will posting my hopes make them so?
Is Ms. Oh posting on this thread? You seem a little defensive, dear.
33, it doesn't matter if he liked him while he was making him money. The truth is, he turned out to be a fraud who fucked people's lives over for a buck. 30's point stands.
I heard that Ms. Oh is actually a man.
Sign along: oh, oh, oh, the bigfat oh, overstock.com
This is a miscarriage of justice.
41 - that may be one of the worst things I've seen said on here... Classy, just classy.
41 - I was waiting for someone to say that. I knew ATL commentators couldn't resist.
Cool it with the anit-semetic remarks.
P.B.
44 = jewtastic
31- Really? That's really THE dumbest thing you've ever heard? That's funny because thedumbest thing I ever heard was you're drunken mom trying to recite the alphabet backwards while choking on dog cock for $20 and a 15 second guzzle of Night Train. Now THAT was dumb sounding!
(too much? Some people have told me that's too much, but it's them right? Not me. Right?)
hello?
hello?
Why hasn't #7's comment been removed???!!!!!!!
Why hasn't #7's comment been removed???!!!!!!!
44 -- American Psycho?
51- no just a concerned citizen....P.S my firm has a horrible bathroom to do coke in.
29, Do you get Quotes of The Day in your RSS feeds? Or is it just a coincidence that this came up today?
The quote isn't "the stupidest thing I've ever heard." but I don't think that it applies. It is referring to hate of individuals and traits, not ethnic groups. Fail.
Sure, I enjoyed reading Oh's email...but is it a surprise that the big firms don't have a heart, soul, balls, or anything else human? Anyone who's ever clerked or been a summer associate at a big firm knows this already. And it's par for the course when you sell your soul to a big firm.
This type of thing may have come as a surprise to people outside the legal profession, but someone in it with a clue would've known already. Oh's email may seem like a knee to Paul Hastings' balls, but if you think that, than you're naive since there never were any balls to knee in the first place.
--FlawLESS
Shinyung Oh is kind of hot...
Did Paul Hastings have Radiohead walk into the office right after they fired her to tell her what a worthless idiot she is?
This blog makes my birth canal itch.
He shouldn't be moderated because it is hate speech. He should be moderated because it is fucking unrelated and really screws up the people who would like to comment on the story because they have to wade through a bunch of unrelated crap.
__________________________________________
Right--the problem isn't the anti-Semitism, it's the unrelatedness of the comments! That's why you're in every thread about layoffs and salary freezes that contains an anti-"MysTTal" URM/AA screed demanding that such be deleted--because they're unrelated to the topic at hand, and you just won't stand for that!
Just stop it. You don't like the anti-Semitic stuff because anti-Semitism offends you; but bigotry aimed at others doesn't--period. You're probably one of the main one's leaping all over Mystal for typing "it's" for "its," while referring to the mediocre Shinyung Oh as a "beautiful writer"; but you're outraged when the nastiness is turned on you and yours. Well, get over it, and enjoy reaping what you've sown. This board is what xoxo assholes like you have made it, so live with it.
58, saying that MysTTTal is an idiot for making typos in the article is relevant to the article at hand. For example, pointing out that he spelled "Layoff" as "Layof" in the title of an article from yesterday and wondering why he did so.
The anti-Semitic remarks about Gaza are not remotely relevant to the article at hand. They are also repeated in nearly every post. Nobody would complain about deleting them if they were posted only once.
Your analogy is not even close. Now go back to your books, Captain 1L.
56 owns it! Scott Tenorman must die!
I don not get it. How is Ms. Oh's story different than probably a thousand others? And why was she an associate after ten years? I truly feel for her, but she has to realize she's just another statistic. Plus, she sold her soul ten years ago when joining PH, kinda late to try to argue for it back now. How many people did she screw over?
And, where is Count Layoffula when you need him?