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 What if the U.S. Senate’s constitutional privilege of “advice and consent” was revoked?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…
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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: firstname.lastname@example.org.
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!