According to NPR, Justice David Souter is planning to retire from the U.S. Supreme Court at the end of the current Term.
Souter is expected to remain on the bench until a successor has been chosen and confirmed, which may or may not be accomplished before the court reconvenes in October.
Arlen Specter’s switch from Republican to Democrat looms even larger now.
We’ve reached out to the SCOTUS public information officer, but have not yet received comment. (We’re not surprised, though, since we reached out at 10:25 p.m.)
Update (11:47 p.m.): The PIO got back to us:
Justice Souter has no comment.
If true, Souter’s retirement would do little to change the balance of the court. Remember:
An Obama pick would be unlikely to change the ideological makeup of the court. Souter, though appointed by the first President Bush, generally votes with the more liberal members of the court, a group of four that is in a rather consistent minority.
Souter’s retirement is not entirely surprising to regular Above the Law readers. Earlier this month, we — via Underneath Their Robes — told you that Souter hadn’t hired any clerks for the October 2009 term.
Let the jockeying begin for Obama’s first SCOTUS nomination. We invite you to suggest nominees in the comments. Maybe we’ll do a poll…
Update: The BLT has an early line on possible nominees, after the jump.
There is late breaking news from Skadden tonight. Apparently the firm has decided to freeze salaries on its counsels. Here is the memo Skadden counsel received:
Given the current economic conditions and the level of activity within the firm, we have decided that we will not be increasing salaries for counsel in 2009. As always, payment of discretionary bonuses will be contingent upon levels of activity in the Firm’s practice areas, the economic environment as it affects our Firm and individual performance.
We are grateful for your continued commitment to the Firm.
That timing could have been better. But we understand that counsel pay has historically been decided on May 1st, so the firm needed to make a decision.
Skadden has not frozen salaries on associates, and the firm paid top-of-the-market bonuses to its personnel.
The firm has avoided laying associates off during this recession, but Skadden’s Sidebar Program allowed approximately 125 attorneys to take a year-long deferral from the firm.
We’ve all seen commercials where a company promises to meet a competitor’s lowest price on an item. But a Long Island lawyer decided to put one of these guarantees to the test:
In its advertising, Sears vows to match competitors’ prices, but one Long Island lawyer has been walking a long road of disillusionment after the retailer refused to live up to its promises. Back in 2007, when Warren Dank showed employees at a Hicksville Sears ad clippings from competitors selling a 46-inch flat-screen for as low as $2,400–$1,200 less than what Sears was charging for the exact same product–a manager refused to budge on the price. And so Dank found his life’s calling: He drove around to three different Sears outlets in the metropolitan area and was denied the promised discount every time.
This is hero-lawyering at its best. Sure, the remedy might simply be more fine print at the bottom of the screen. And, fine, there could be costs associated with defending against this type of litigation that raises the price of televisions for all consumers. But hey, that’s just more work for more lawyers.
Dank might be stimulating the legal economy, but of course, somebody is going to have to pay:
A lot of people are calling Dank a hero (okay, just us), and he might not disagree, telling the Post: “I’m doing this single-handedly. No one else pushed it this far to go on a crusade.” UPDATE: Mr. Dank just emailed us with the following clarification: “Please set the record straight on your blog that the $100 and/or $300 million is to pay a class action settlement to all of the customers who were deceived and not to me.”
That’s the plaintiff’s bar, hard at work baby! Companies shouldn’t make promises they can’t keep.
Personally, I love jury duty. I’ve never been picked to actually sit on one, but I still hope to have the opportunity one day. It’s a great opportunity to participate in your community.
I know I hold the minority opinion on this. Most people find jury duty annoying, some find it outright insulting.
But few are willing to put it in writing. That’s what makes the jury affidavit below so special.
“I don’t believe in our ‘justice’ system and I don’t want to have a goddamn thing to do with it.” This is why we need states like Montana. It’s important for these people to have someplace where they can go, breed, and keep America just a little bit closer to the edge.
Today, Craigslist brings us the latest example of a (soon-to-be) lawyer trying to make it work in this difficult economy. Here’s the ad:
I am an experienced law student willing to answer your legal questions. The fee is $5 per question. To take advantage of this offer email your question to [Redacted]. You will then get a response with your answer. Must pay through PAYPAL ACCOUNT. ALL EMAILs must include the following information:
NAME ADDRESS TELEPHONE NUMBER CITY/STATE YOUR QUESTION
Now, it’s been a while since I took the MPRE, and I was all kinds of hung-over when I passed it. But isn’t there some kind of — I don’t know, rule — about giving legal advice when you are not a lawyer?
Seriously though, he doesn’t “hold himself out to be a lawyer,” so maybe that helps?
Either way, Bert J. van der Werff is just a guy trying to make some money during rough times. We speak with the student after the jump.
It appears that the out-of-state tuition at the University of Texas School of Law could be on the rise. The school’s website lists that the proposed non-resident tuition for the 2009 – 2010 academic year is $43,858. That is over a 10% increase from last year.
Is UT riding the wave of this year’s strong showing in the U.S. News law school rankings? Perhaps. But don’t blame the UT administration for the hike. UT is a public institution. As such, if you remember your middle school civics class, the school has very little control over its own tuition. A UT-Law spokesperson explains the situation:
Last year (March, 2008), the Regents set tuition at the University of Texas for the 2008-2009 academic year (this year) and the 2009-2010 academic year (next year). This year’s tuition for new, non-resident students was $39,642. The amount the Regents approved last year for tuition next year for new, non-resident students, $43,858, is a 10.6% increase over this year. The amount listed on our website for 2009-2010 is correct.
The Texas legislature is currently considering a number of tuition bills, some of which could affect the tuition charged next year, but we don’t have any idea how these deliberations will come out as of now.
After the jump, let’s take a deeper look at how Texas plans to make money off of law students.
[Natalie] Cedeno claims the atmosphere at the company changed substantially after Penthouse Media Group acquired Various Inc., the operator of Adult FriendFinder and other websites, in 2007 and changed its name to FriendFinder Networks. Various was buttoned-up, she says, despite operating websites where users planned hookups. Penthouse, by comparison, was pure frat-boy raunch — an attitude which culminated in an incident where a Penthouse Pet draped her boobs on an unwilling female employee in a staged photo meant to humiliate her.
We’re not entirely sure of all the details, but there appears to be a very sad situation developing at Kilpatrick Stockton in D.C. today. Everybody in Kilpatrick’s building received this email this morning:
Please remain in our space until further notice. Metropolitan Police Department are currently responding to an unconscious male with a gunshot wound to the head on the 11th floor of Kilpatrick & Stockton. We are contacting building management to determine further information.
We will keep you posted. Thank you.
Kilpatrick is located at 607 14th Street, NW in D.C.
After the jump, we have another email from building management and a statement from the firm.
Update (1:54 PM): We also have reports from tipsters, after the jump.
Dan DiPietro, client head of the Law Firm Group of the Citi Private Bank, doesn’t think we’ve seen the end of lawyer layoffs. In the American Lawyer, he writes:
Among our 175-firm sample, head count for fiscal 2008 was up 4.5 percent from fiscal 2007. I showed the flash report of our sample to a colleague of mine who lends money to Fortune 100 companies. Her response? “So, Dan, the way law firms make money is to grow head count when demand drops?” This is a neat way of summing up the problem firms faced as they entered 2009–too many lawyers chasing too little work.
But I thought that all the struggling firms have already laid all the attorneys they could afford to spare?
With fairly aggressive layoffs evident in all but the top New York-headquartered firms, the decline in bonuses, and no foreseeable movement in salaries, expense growth will moderate, if not decline. This should net out to a 5-10 percent decline in profits per equity partner from 2008 levels. (After the meeting, several managing partners told me I was still too optimistic. To them and others at top New York firms I say: “Think layoffs.”)
The pessimism expressed at that meeting has been repeated to varying degrees in the 16 regional roundtables that my colleague Cindy Tambourine and I have just completed throughout the United States and in London. To put it simply, the mood in the U.S. outside of New York is grim; in New York it’s grimmer; and in London it’s the grimmest.
After the jump, are there any non-layoff paths to recovery?
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: