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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.