* The Second Circuit ruled that the World Trade Center Cross may remain on display in the September 11 Memorial and Museum. Apologies, atheists, but it’s a “genuine historical artifact.” [New York Daily News]
* Howrey going to get money back when judges keep tossing unfinished business claims like they’re yesterday’s trash? We’ll see if such claims will be laid to rest after a hearing later today. [Am Law Daily]
* Paul Weiss had a good get this week, with Citigroup’s deputy general counsel leaving the bank to join the firm — which coincidentally has served as the bank’s outside counsel for two decades. [WSJ Law Blog]
* North Carolina, a state that adopted a ban on same-sex marriage in 2012, said it will no longer defend its law in the wake of the Fourth Circuit’s ruling as to a similar ban in Virginia. Hooray! [Los Angeles Times]
* If you missed it, a judge issued a preliminary ruling against Donald Sterling, meaning that the sale of the L.A. Clippers may proceed. Don’t worry, his attorney says this is just “one stage of a long war.” [CNN]
* It seems that “weed-infused weddings” are a hot commodity in states where the drug has been legalized. Sorry, it may be better than an open bar, but it doesn’t seem like a very classy thing to do. [Boston.com]
* Footnote fight! Justice Sonia Sotomayor has been clashing with quite a few of her fellow Supreme Court jurists lately, aside from Chief Justice John Roberts. She recently inspired the wrath of Justice RBG herself. [New York Times]
* After months of being poked and prodded for cash, 60 former Howrey equity partners have reached clawback deals with bankruptcy trustee Allan Diamond, and it looks like a few of them agreed to pay pretty hefty sums. [Am Law Daily]
* Here’s a headline we could’ve told you was coming: “The US lawyer bubble has conclusively popped.” It’s not a terribly good decision to attend now, but if you do, people who can’t pay you need your help. [Quartz]
* Cutting law school tuition may be a good idea to attract more students, but in the long run, it could hurt the schools, says Moody’s. Aww, let us shed some tears for those poor law schools. [WSJ Law Blog]
* The University of Arizona will be the first school in the U.S. to offer a bachelor’s degree in law. The degree is being marketed to people who eventually want to have lots of law-related debt. [National Law Journal]
Albert Togut: man with a plan (of reorganization).
Maybe the floundering firm of Patton Boggs can actually right itself. It doesn’t have the Biglaw mark of Cain, namely, a name that lends itself to bad puns — e.g., Dewey and “do we,” Howrey and “how are we,” and Thelen (rhymes with “feelin’”). In hindsight, Patton Boggs did the right thing when it dropped George Blow’s name from the marquee and went from “Patton Boggs & Blow” — a name we would have had a field day with — to simply “Patton Boggs.”
(Yes, Patton Boggs has some pun potential. But there are only so many “bogs down” and swamp-related plays on words to be had. Yes, even for us.)
Luckily, for the time being we can use some “Dewey” puns. Because Patton Boggs, for whatever reason, is using all of Dewey & LeBoeuf’s old advisers….
* Being a former partner of a firm that’s flopped ain’t easy. Ex-Howrey partners find themselves haunted by the failed firm’s “phantom” funds, and now they’re going to court to fight their tax liabilities. [Am Law Daily]
* Silly Cadwalader! You’re not the “oldest law firm in the United States.” Neither are you, Howard, Kohn, Sprague & FitzGerald. That title goes to Rawle & Henderson, a firm that’s been around since 1783. [ABA Journal]
* If you’d like to work at a firm that’s being touted for its anti-Biglaw culture, you might want to take a look at Tandem Legal Group. You won’t ever have to wear a tie at this “fun” and “cool” place. [Washington Post]
* Jason Bohn, the Florida Law grad accused of murder — who also happens to be the guy who was once featured in an NYT article about the perils of law school — has apparently killed before. [New York Post]
* Nicki Minaj is being sued for $30 million by the man who once served as her “wig guru.” Having absolutely nothing to do with the case, imagine being so obscenely rich that you could employ a “wig guru.” [CNN]
* Mayer Brown issued a response in the wake of its NSA scandal, saying there’s “no indication” spying happened “at the firm.” Spying “of the firm” is another question, but don’t worry, clients, your information is totally secure. [Chicago Tribune]
* “He is almost treating the clients as chattel.” Lateraling may have just gotten harder, because a judge in the Howrey case expects you to kiss your book of business goodbye as soon as you ditch your firm. [Wall Street Journal (sub. req.)]
* Law school applications have plummeted, but some schools are really struggling. Which had the largest drops in enrollment? Take a wild guess. We’ll have more on this later today. [National Jurist]
* You can’t just sit back and relax after you’ve sent off your law school applications. You need to gun your way to enrollment and be as appropriately annoying as possible. [Law Admissions Lowdown / U.S. News]
* George Zimmerman, who says God is “the only judge that [he] has to answer to,” hopes that he’ll eventually become a lawyer. We imagine that kind of an attitude will earn him a sanction or two. [CNN]
All those professional responsibility lectures, and bar prep, and boring CLEs that I attended after becoming a lawyer, and all the boring CLEs I dutifully watched on the Internet after I escaped the probationary period, consistently preached the evils of non-lawyer ownership of law firms.
It raises ethical concerns! It dilutes what it means to be a lawyer! This is a profession, not a business! All the usual complaints from a profession convinced that it’s made up of beautiful and unique snowflakes with unimpeachable judgment.
But the better question is, “Don’t non-lawyers own law firms already?” And to the extent the answer is “of course,” shouldn’t the profession be bending over backwards to approve ownership models that better serve the firms and their clients than the status quo?
There are only so many ways that we can tell our readers that the Biglaw boom years are over. Slow firm growth in terms of attorney headcount is now praised. Law firm mergers are common occurrences, if only because there’s always someone to save from a fate suffered like that of Dewey and the failed firms of yesteryear — Brobeck, Coudert, Heller, Thelen, and Howrey. Alternative fee arrangements are trending, and discounts are handed out as if clients are enrolled in fast-food loyalty programs (buy one multi-million dollar patent suit, get the next one 75 percent off!).
But just because the heyday is over does not mean that Biglaw’s all-stars are going to charge their clients any less cash. Back in the day, $1,000 per hour billing rates were considered obscene by some. Now, even in a still recovering economy, four-figure billing rates are just business as usual. In fact, some partners are edging closer and closer to a $2,000 per hour fee every day.
So which firms have the highest partner billing rates? Let’s find out…
* Judge Richard Leon’s decision in the NSA surveillance case is ripe for review by the D.C. Circuit, and given the court’s new make-up, we could see a very interesting result. Oh, to be an NSA agent listening in on those calls. [National Law Journal]
* With seven business days left until 2014, law firms all around the country are still desperately trying to get paid. Lawyers are working hard for the money — 83.5 cents to the dollar — so you better treat them right. [Wall Street Journal (sub. req.)]
* Who you gonna call? Your local bankruptcy attorney. Alston & Bird, currently housed in Heller’s old digs in Silicon Valley, will head to a new office whose former occupants include Dewey, and Howrey, and Brobeck, oh my! [Am Law Daily]
* Four were arrested in the tragic murder of attorney Dustin Friedland, and each is being held on $2 million bond. One of the alleged assailants has a history of putting guns to other people’s heads. [NJ Star-Ledger]
* “I think it would be wise for the NCAA to settle this now.” Thanks to the Ed O’Bannon lawsuit, the world of college sports will be forever changed, so all those video games you’ve got are now antiques. [CNBC]
* Tom Cruise settled his defamation lawsuit against a tabloid publisher over claims that he’d abandoned his daughter during the pendency of his divorce proceedings. Xenu is pleased by this announcement. [CNN]
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.
What can we expect for the first quarter of 2014 in terms of the lateral partner market? As I have detailed before, the market is generally volatile and the rate of change of each month and quarter from year to year is difficult to predict. In our calculations, the number of lateral movements in December accounts for less than 20% of the variation in lateral movements in January. However, on average there are 2.4 times as many moves in January as there are in the previous December (but this ratio is subject to much volatility).
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.
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.