Archive for May 2009

Nixon Peabody: Salary Cut Follow Up

By Elie Mystal

Nixon Peabody logo.JPGLast Monday, we reported that Nixon Peabody would be cutting salaries. We noted that the pay cuts would be reflected in the May 21st paycheck.
Over the weekend, a source sent us detailed salary information about all of Nixon’s offices. Is this the shape of things to come? According to our tipster, here’s the new first year pay scale:

* $145,000 in NYC, Boston, Chicago, DC and California; ($20k cut)
* $95,000 in Upstate NY, Manchester, Providence ($10k cut)
* $110,000 on Long Island ($10k cut)

These new salaries will also be applied to Nixon Peabody summer associates.
But after the jump, we check out the cuts further up the pay scale.

double red triangle arrows Continue reading “Nixon Peabody: Salary Cut Follow Up”

This Week in Layoffs: 05.02.09

By Law Shucks

Law Shucks layoffs layoff tracker.jpg[Ed. note: Above the Law has teamed up with Law Shucks. Law Shucks has done excellent work translating all of the layoff news into user-friendly charts and graphs: the Layoff Tracker.]

Happy International Workers’ Day, comrades! In light of the scarcity of jobs, we expect few lawyers will be taking to the streets to protest poor working conditions this year.

Once again, mixed news on the broader employment front. Initial jobless claims unexpectedly dropped by 14,000, but continuing claims hit a record high for the 13th consecutive week. That mirrors what we’re seeing at the major law firms: layoffs are slowing down, but new work isn’t being created to vill the massive void.

By the way, Google is rolling out some cool new tools that allow you to view various statistics. Here’s a chart of the New York unemployment rates. Check out TechCrunch for more on the feature.

After the jump, we break down layoffs by region, plus a recap of other cost-management activities.

double red triangle arrows Continue reading “This Week in Layoffs: 05.02.09″

Nationwide Layoff Watch: Seyfarth Shaw Cuts 50, Cuts Salaries, Cuts Back on Summer Program

By Elie Mystal

Seyfarth Shaw logo.jpgSeyfarth Shaw just announced an extensive “hybrid tough love” package. The firm is laying off employees as well as cutting salaries. It is also reducing the length of the summer program and pushing back start dates.

According to a firm wide memo, 50 people will be let go:

Today, we have completed a reduction in attorneys and staff of approximately 50 people out of approximately 1,600 people nationwide. These reductions are spread across all offices and practice groups. We deeply regret the need to take these steps. The people affected are our friends and co-workers who have made contributions to the growth of the Firm. We have reached out to every affected person prior to the distribution of this e-mail.

We cannot predict the future but, as we said above, it is our goal by taking this step to avoid any further reductions in positions for the remainder of the year. We know that we will be asking each of you to take on additional responsibilities. We thank you in advance for your continued efforts on behalf of our clients and the Firm.

Seyfarth laid off 30 people back in December, and another 30 people in January. Hopefully, this is the last time layoff survivors will have to worry about their jobs. At least for this year.

After the jump, we get to the other news.

double red triangle arrows Continue reading “Nationwide Layoff Watch: Seyfarth Shaw Cuts 50, Cuts Salaries, Cuts Back on Summer Program”

Non-Sequiturs: 05.01.09

By Elie Mystal

Snoop Dogg blue smoke.JPG* The Reidenberg v. Scalia saga continues. [Concurring Opinions]

* You can never be too old to be on the Court. Never. It’s impossible! [True/Slant]

* The people at the Museum of Sex are total prudes. [Copyranter]

* Summer associate survival tips. Just drink lots of water and you’ll be fine. [Young Lawyers Blog]

* It’s Friday. Turn up the music! [What About Clients?]

* Bingham McCutchen adds some big guns. [TaxProf Blog]

* Does anybody know exactly how Snoop became the coolest person on the planet? Even his legal drama has a totally badass flair to it. [Popsquire]

Stroock Offers $75,000 in Stay Away Money

By Elie Mystal

Stroock logo.JPGThese incoming associate deferrals are getting out of control. Stroock is the latest firm to come up with an innovative plan to deal with its new class of first years.

Above the Law has been able to confirm that Stroock is offering incoming first years a payment of $75,000 to leave the firm by July 1st. Half of it will be paid in September 2009, the other half in January 2010.

This would make Stroock the most well-known firm to rescind (kind of) offers to 3Ls. But unlike other firms, Stroock is making it a voluntary decision, and they are offering a significant financial windfall. And give Stroock some credit for dropping the pretense that there will be more than enough work for both the class of 2009 and the class of 2010, next year.

Pillsbury offered a voluntary departure program to its associates. But Pillsbury didn’t let people know what was waiting for them if they didn’t take the offer. Stroock, perhaps learning from that mistake, isn’t asking incoming first years to make their decision in a vacuum.

The other options for Stroock first years after the jump.

double red triangle arrows Continue reading “Stroock Offers $75,000 in Stay Away Money”

Wake Forest Law Student: The Latest Meltdown

By Elie Mystal

Wake Forest Law logo.JPGWe’ve done quite a few stories now on law students losing control of their sense of discretion as graduation approaches.

We’ve got another one, this time from Wake Forest School of Law, we think. The student who sent it claims not to have sent it. We’ve spoken to school officials who are looking into this as a possible hacker situation.

But regardless of who sent it, this email does include a tale that many commenters have been worried about. With all the schools trying to help out deferred or unemployed graduates, how will the employment statistics be reported to U.S. News? Somebody (who may or may not be affiliated with Wake Forest) has this hypothesis:

As I was working in the Career Services office last week I heard [Redacted], talking to the others in the office how relieved she was that they were to place several students from last year’s class that had not found a job yet with one at the law school so as to not adversely affect our rankings. It seems as of the total number of unemployed students is so large that if we did the honorable thing and properly and accurately reported our actual data to the ABA and the US News magazine that our ranking would have dropped out of the top 50 law schools. In other words, we would have become a second tier law school. She was happy they could “fix” the problem by hiring former students in some capacity at the law school so our “numbers” looked good. As I sit studying for exam and the more I think of her comments, that madder I get.

“Fix” the problem, bullshit, they just hid the problem. The real problem is the lack of ability in this office. We have discussed this every year with the dean at our “town meeting”, and yet the office remains unchanged and they remain employed despite abysmal results. Well its time for a change in this office. Any bets what the “true” unemployment statistics for our class will be given the economy?

Wake Forest is ranked 40th in the latest U.S. News law school rankings. And while this person is clearly worried about the school’s rankings, the person also wants to hold Wake to a higher ethical standard.

Wake Forest Dean Blake Morant responds after the jump.

double red triangle arrows Continue reading “Wake Forest Law Student: The Latest Meltdown”

Job of the Week: The Adventure of a Lifetime

By Elie Mystal

Job of the Week Lateral Link ATL logo.gifWell, maybe Beijing, China isn’t as adventurous or exotic as it once was. But there’s a firm looking for a capital markets attorney out there, and that is rare indeed. As always, the Job of the Week is brought to you by Lateral Link. For more information about this position, please contact Justin Flowers at jflowers@laterallink.com or 866.374.5829 (ext. 120). Justin is Lateral Link’s Director for Asia and the Middle East. He has several years’ experience recruiting partners and associates in international and domestic markets, and he splits his time between Asia and his current home in New York. Justin received his J.D. from NYU School of Law and practiced as a litigator in New York City prior to becoming a recruiter.

Position: Corporate/Capital Markets Associate or Counsel

Location: Beijing, China

Description: The Beijing office of our international law firm client seeks a mid to senior level associate (up to counsel level) with 3 – 10 years’ large firm experience with exposure to both corporate and banking practices– M&A, lending, corporate and equity capital markets. The practice involves outbound listings and corporate work for banks and corporations. Capital Markets knowledge (US and/or HK exchanges) and familiarity with financial institutions and regulatory work highly preferred. Responsibilities include advising on Chinese client IPO and pre IPO issues, and managing outbound M&A deals from both corporate and finance side. Must be internationally trained/admitted (US or other common law environment) and possess superior client relationship management skills. Chinese language skills are not required but are a distinct advantage given the client focus of the position.

For more information about this position or to apply, please see Position 10501 on Lateral Link. Current members can also contact their personal search consultant directly to discuss this position. Membership in Lateral Link is free and you can apply at www.laterallink.com.

Legal Eagle Wedding Watch 4.26: Irish I-Dos

By Laurie Lin

champagne glasses small.jpg

There are certain phrases you don’t expect to encounter in the same wedding announcement. “U2′s The Edge” and “associate counsel to President George W. Bush” probably fit that bill. And yet one of this week’s weddings manages just that curious alchemy, and more.

Here are this week’s finalists:

1. Robyn Neblett and Jermaine Fanfair

2. Elaine Stuart and Nirav Shah

3. Leslie Fahrenkopf and Thomas Foley

Get all the details on these couples, after the jump.

double red triangle arrows Continue reading “Legal Eagle Wedding Watch 4.26: Irish I-Dos”

Five Dollar Advice Guy Posts a Retraction

By Elie Mystal

5 dollar legal advice.jpgYesterday, we posted about a non-lawyer, Bert J. Van der Werff, who was offering answers to legal questions for five dollars.

With a rapidity that would make the American Bar Association proud, commenters seized upon this hapless student’s ethical violation, and put the fear of God into him. Van der Werff reports that he received numerous emails from Above the Law readers, explaining that him that he was putting his entire career at risk.

And you know the commenters weren’t kind either. From Partner Emeritus:

My first question to this peon would be what is the New York criminal statute that makes it a crime to give legal advice without a law license?

And there was this:

It doesn’t matter if you hold yourself out as a lawyer. Providing legal advice for money constitutes the unauthorized practice of law, assuming you aren’t a licensed attorney at the time. By the way, I’ll answer any and all questions, legal or otherwise, for $1B each.

And this:

I hope he isn’t using his free student lexis and westlaw access. It is a violation of the terms he agreed to when he accepted his ids.

They will both come and charge him for useage and that will cost him more than what he is charging per search

And much, much more.

After the jump, Mr. Van der Werff posts an apology.

double red triangle arrows Continue reading “Five Dollar Advice Guy Posts a Retraction”

ATL Poll: Who Should Replace SCOTUS Justice David Souter?

By Kashmir Hill

scotus small.jpgATL readers, there are many names being bandied about as potential nominees for the Supreme Court. We’ve narrowed the list to nine people who have been mentioned by at least two of the following outlets: BLT, AP, and the SCOTUSblog.

That the next Supreme Court justice will lack a Y chromosome is a virtual certainty, but we’ve thrown a few token males into the poll anyway. Who strikes your fancy?

More on these nine, after the jump.

double red triangle arrows Continue reading “ATL Poll: Who Should Replace SCOTUS Justice David Souter?”

Bring On That Client Contact

By Legal Tease

sweet hot justice logo.jpg[Ed. Note: The following piece was authored by "The Legal Tease" of Sweet Hot Justice fame. You can check out all of Legal Tease's other musings from Sweet Hot Justice here.]

I’ll admit, this is probably a bad idea. But I’m sorry, I can’t help it any longer. I’ve had one in every other job I’ve ever had and it’s about time I had one at the firm. I’m not going to be particularly picky about it. I just want one–I need one. Because it occurred to me last week, sitting in my giant bed in the middle of the night, alone, watching an old Law & Order marathon, if I don’t get the juices flowing soon, I’m going to dry up, die of boredom, and go the way of every leading lady lawyer the Dick Wolf gang has ever offered up–which is to say nowhere at best and crumpled in the trunk of a car at worst. In other words, it’s time: I need a work crush. Stat.

One small issue, though: There’s no one to crush on at my firm–hell, within a mile of my firm, it seems. After you weed out the lawyers who aren’t indisputably trollish or creepy or latent pervs, only a handful of possibilities are left.

I guess there’s always Pete, my immediate supervisor and work buddy. He’s a great guy, cute in a sort-of asexual hipster way, and has good hair and a mellow, easy-going personality that’s a nice foil to my more manic vibe. But he’s happily married and just had a kid–very look but don’t touch, which kind of kills the point of having a crush. Part of the thrill is the possibility that something actually could happen, isn’t it? OK, forget Pete. The only other candidate, then, might be Alex, a newly minted partner who’s genuinely lawyer-hot, just dickish enough to make him that much hotter, and definitely single. Only problem is, he’s one of the most socially awkward lawyers in the building, notoriously avoids eye contact with women, and last I heard, lives in a two-story house with his parents.

So. That’s it: a married, asexual dad and a socially retarded powder keg who may or may not live with his mom. This is depressing even me. The upshot is becoming painfully clear: If I want a work crush, I need to move on to my clients.

And she does, after the jump.

double red triangle arrows Continue reading “Bring On That Client Contact”

Morning Docket 05.01.09

By Kashmir Hill

Thumbnail image for souter2.jpg* As we told you last night, Supreme Court Justice David Souter, a 1990 Bush appointee, plans to bid One First Street farewell in June. Last night, we pointed you to BLT’s speculation on possible nominees. Here’s speculation from the AP. [Associated Press]

* The Supreme Court experts at SCOTUSblog write with the most insight into Justice Souter’s decision to retire now and speculation on who Obama will nominate. Souter’s replacement “has to be a woman… Race and ethnicity seem less important” as considerations, says SCOTUSblog. [SCOTUSblog]

* Justice Souter is only 69. Why is he stepping down before he even needs a cane to get around the hallowed halls? Because he hates the nation’s capital. [CBS News]

* Will President Obama’s list of 13 million e-mail addresses help make the SCOTUS nomination process go smoothly? [Washington Post]

* More on the sad suicide of Kilpatrick Stockton layoff Mark Levy. [Washington Post]