You can access the various charts via this portal page. Aric Press and Greg Mulligan summarize the results:
It could have been worse. That’s the best that can be said for the performance last year of The Am Law 100, the top-grossing law firms in the nation. Three of the four key categories we’ve measured for 25 years — gross revenue, head count, and revenue per lawyer — fell, while profits per equity partner (PPP) barely increased by 0.3 percent, or $3,463, to $1.26 million.
So PPP was basically stable in 2009 — not a bad result given the continuing economic weakness last year. Perhaps law firm partners are better business managers than they get credit for?
Earlier today, we wrote about an email controversy emanating from the halls of Harvard Law School. A 3L at HLS — referred to in these pages simply as “CRIMSON DNA,” and please help us keep it that way — sent out an email message that some construed as “racist.” In the email, “CRIMSON DNA,” following up on remarks made during an apparently spirited dinner conversation, wrote as follows:
I absolutely do not rule out the possibility that African Americans are, on average, genetically predisposed to be less intelligent. I could also obviously be convinced that by controlling for the right variables, we would see that they are, in fact, as intelligent as white people under the same circumstances. The fact is, some things are genetic.
That was just the opening. Read the rest of DNA’s email over here.
We now bring you some corrections and clarifications, as well as additional discussion — in case the 100+ tweets, 800+ comments, and 1,000+ Facebook shares weren’t enough for you….
There’s just one day left to vote in ATL’s Second Annual Law Revue Video contest. Check out the seven finalists — from Columbia, Northwestern, NYU, SMU, Wash. U., Windsor, and Berkeley — and vote before midnight on Thursday.
Columbia and Northwestern are currently in a fierce competition for the crown. There have been some not-so-funny allegations of rigging the vote, so we’ve asked our friends at Vizu to monitor the poll and flag any suspicious activity. So keep the voting clean, folks.
We’ve already given out dishonorable mentions. There were three other videos that we would like to footnote, which just missed the cut for final contenders.
GWU and University of Chicago-Kent made this list, as did one of the schools among our finalists…
Every once in a while, we talk about fashion here at ATL, such as our recent post on the Chicago Bar Association’s (confusing) advice for how legal types should dress.
But the real experts on fashion here in the Breaking Media offices are the ladies at our sister site Fashionista. They’ve recently weighed in on how Ann Taylor LOFT got around the new FTC regulations for bloggers and on Fordham University’s new Fashion Law Institute
Given students’ difficulties finding “regular” law jobs, Fordham is apparently thinking outside of the box. Elle Woods would be proud.
Congratulations to Mr. Chuck and his co-conspirators. It appears that their efforts to exert grassroots pressure on Mayer Brown, with the goal of getting the firm to inform them of the terms of their offers, have borne fruit.
As first mentioned in the comments on our post from yesterday regarding Winston & Strawn, incoming associates at Mayer were recently informed of their offer terms. Their time in limbo is now over.
While two of your ATL editors are stuck in unseasonably cold New York, Elie Mystal landed in Puerto Rico today to attend NALP’s Annual Education Conference. Judging from NALP’s website, it sounds like there was some controversy over the exotic location. They have a whole section devoted to “Why Puerto Rico?” (“It’s home to three NALP member law schools and a number of important legal employers.”)
Regardless, Elie is happy to be there, though also a little scared given some of the previous things he’s written about the organization. He’ll be filing posts based on sessions he attends, as well as covering the conference pithily in real time on the ATLblog Twitter feed.
Check out the conference schedule here and tweet at Elie and at ATL if there’s something you desperately want him to attend. Elie’s currently at the session on “Recruiting in the Aftermath of the Recession,” led by Frank Kimball of Kimball Professional Management and Helen Long, the director of legal recruiting at Ropes & Gray LLP. He tweets:
Recruiting in the aftermath of the recession. “aftermath”?? Yeah, this should be fun
Many large law firms realize the importance of maintaining good ties with their alumni. It’s the right thing to do, and it’s also the smart thing to do. Biglaw alums often end up in places where they can be helpful to their former employers — e.g., in-house, government, and the media (cough cough).
They were also invited to a cocktail party. This didn’t go over so well with those who became alumni involuntarily, i.e., the laid-off:
Are they f**king kidding me? Oh man I want to go to their Spring Fling. Cocktails in the boardroom. Do you think if we get really drunk we’ll be escorted out by security? Because I enjoyed it the first time.
Wait a sec — did the firm really have laid-off lawyers accompanied out by security?
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.