In our little world, the Law School Admissions Test (LSAT) is a career-defining moment. A few points on the test can mean the difference between going to a law school that can get you a job, or going to a law school where you’ll be locked in gladiatorial combat with every other student in order to finish in the top 10%.
But does this test really tell us anything about a person’s logical reasoning ability? Does it tell us anything about one’s ability to be a lawyer? It’s been well-documented that the LSAT is a great indication of past performance, a solid indicator of law school performance, and a very poor judge of future legal success.
So what is the LSAT really testing anyway? We all know really smart people who didn’t do too well on the LSAT, and we all know incredibly dumb people who got a high score.
On the Huffington Post, Noah Baron argues that the LSAT is really testing one thing: whether or not you are wealthy enough to spend the time it takes to prepare for the exam…
Cruciani alleges Budd “completely misrepresented the compensation system at Baron & Budd and the upside that allegedly existed there,” and Budd showed his “greed” when he paid himself a $50 million bonus in December 2005, which was 75 percent of the firm’s bonus pool that year.
Note to partners with a wandering eye: If a firm describes its compensation system as “Hully Gully,” be wary. In addition to misrepresenting the firm’s compensation system, Budd also neglected to tell Cruciani that there was bad blood between him and co-founding partner Fred Baron.
After hearing a host of counterclaims during a six-week trial, the jury sided with Cruciani, and decided the lost income and the impact on his future earnings warranted a $8.8 million award.
According to the Dallas Observer, the local legal community was shocked by the size of the award. Why was it so big?
As we were planning Above the Law’s Elena Kagan confirmation coverage, we got to thinking (always a dangerous thing around these parts): What if Supreme Court nominees didn’t have to defend themselves to the American public? What if the U.S. Senate’s constitutional privilege of “advice and consent” was revoked? What would the Court look like if the nominees didn’t have to even pretend to be moderate?
It’s a thought experiment that we’re sure has been done countless times before. But we’ve never done it, so we’ll plunge ahead.
Here are the rules: (1) The nominee should be unconfirmable. (2) The nominees on the right should make Elie angry; the nominees on the left should make Lat uncomfortable. (3) Mealy-mouthed moderates need not apply.
We decided to keep the five-four ideological balance of the current Court. Sure, we know that some people think that without the Senate, Presidents would nominate apolitical justices who have no discernible political slant. Sadly, apolitical justices = yawn.
In this post, Elie picks four pinko commie scumbags. In a future post, Lat will select five right-wing fascist nutjobs. Should be fun…
So, who are the SCOTUS nominees in the administration of President Elie Mystal?
* Arguably, things like giving a kid a swirly or locking him in the janitor’s closet (or doing other things that happened to me in school) are still okay in Louisiana. But sending a nasty email is now a crime? [Volokh Conspiracy]
* Some advice on how to keep the pounds off while you are a summer associate. If you don’t have a summer associate gig, I’m assuming your problem is trying to figure out how to live off your law school fat reserves for three months. Hibernation is always an option. [Corporette]
* As a New Yorker, I am soooo over Faisal Shahzad’s failed attempt to murder me or some of my 8,000,000 friends. But let’s hope the lesson sinks in with the rest of the country when it comes time to debate who should get the lion’s share of homeland security funding. [What About Clients?]
As I noted this morning on Twitter, Supreme Court nominee Elena Kagan is looking like a million bucks these days. And this should come as no surprise, since she’s worth a million bucks — and then some.
Recently I examined the financial disclosure form filed by Elena Kagan last year, when she was nominated for Solicitor General. It showed the Divine Miss K with a divine net worth — just over $1 million (as of January 2009). That may not put her in Biglaw partner territory, but for someone who has spent most of her career in government service or academia, Kagan has done quite well for herself. (She’s also doing much better than most ATL readers; according to our reader poll, over 40 percent of you have negative net worths.)
And in the past year, despite her taking a pay cut when she left Harvard Law School to become SG, and despite the economic downturn, Kagan’s net worth has jumped — significantly. Just like Lady Gaga, Lady Kaga is beautiful, dirty, rich.
How rich? Let’s take a look at Elena Kagan’s latest financial disclosure form, submitted to the Senate earlier this week….
In Louisiana, lobbyists for the oil industry tried to push through a bill that would limit the effectiveness of the Tulane Environmental Law Clinic. That’s right, the same people that brought you The Day After We Ruined the Gulf tried to stop a law school clinic from bringing pesky environmental lawsuits.
We’ve seen this before. Perdue Chicken got all up in the grille of the Maryland Environmental Law Clinic a couple of months ago. Did companies who rape the environment just figure out that environmental law clinics spend a lot of time trying to defend the environment?
In any event, it’s not surprising that corporate interests would try to crush the life out of law students doing work that private individuals won’t pay for. It is marginally surprising that state legislators are totally unashamed to appear to be in the back pocket of their corporate handlers.
But maybe all of the bad press the oil industry is getting just at the moment saved the Tulane Environmental Law Clinic…
There are a number of firms that aren’t up to speed with this whole “social media thing.” But they should be, because their clients are.
American Lawyer Media, Zeughauser Group and communications firm Greentarget surveyed 164 in-house counsel about their social media habits. Lo and behold, they are making use of blogs, Twitter, LinkedIn and Facebook to get their legal information… and, perhaps more interestingly, to judge law firms.
In-house counsel still primarily rely on “referrals from trusted sources and credentialing activity (i.e., demonstrations of thought leadership)” to choose outside lawyers, but they are increasingly taking brilliant tweets and blog posts into consideration…
This isn’t going to come as a galloping shock to anybody here, but the new NALP numbers confirm that the job market is terrible for young lawyers (aka the “lost generation”) :
Analyses of the NALP Employment Report and Salary Survey for the Class of 2009 reveal an overall employment rate of 88.3% of graduates for whom employment status was known, a rate that has decreased for two years in a row, decreasing 3.6 percentage points from the recent historical high of 91.9% for the Class of 2007. The employment figure for the Class of 2009 also marks the lowest employment rate since the mid-1990s.
“There are dozens of reasons why the employment report for the Class of 2009 will be different than those that preceded it, and dozens of reasons why the data that has been gathered will require special explanation and analysis to make sense of it,” said NALP Executive Director James Leipold in commentary accompanying the Selected Findings. He noted that while the employment rate of 88.3% may seem stronger than expected, when the statistic is teased apart, it begins to reveal some of the fundamental weaknesses in the job market faced by this class.
Please, prospective law students, do not look at the 88% figure and start wetting yourself. There are a number of reasons to explain why employment statistics look as basically decent as they do…
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: