David Lat is the founder and managing editor of Above the Law. His writing has also appeared in the New York Times, the Wall Street Journal, the Washington Post, New York magazine, Washingtonian magazine, and the New York Observer. Prior to ATL, he launched Underneath Their Robes, a blog about federal judges. Before entering the journalism world, he worked as a federal prosecutor in Newark, New Jersey; a litigation associate at Wachtell, Lipton, Rosen & Katz, in New York; and a law clerk to Judge Diarmuid F. O'Scannlain, of the U.S. Court of Appeals for the Ninth Circuit. David graduated from Harvard College and Yale Law School, where he served as an editor of the Yale Law Journal. He has received several awards for his work on ATL, including recognition as one of the American Lawyer’s Top 50 Big Law Innovators of the Last 50 Years; one of the ABA Journal’s Legal Rebels, a group of pioneers within the legal profession; and one of the Fastcase 50, "the fifty most interesting, provocative, and courageous leaders in the world of law, scholarship, and legal technology." His first book, Supreme Ambitions: A Novel, will be published in 2015. You can connect with David on Twitter and Facebook.
* A unanimous Seventh Circuit panel, in an opinion by Judge Posner, just struck down Wisconsin and Indiana’s bans on same-sex marriage. The result isn’t surprising in light of the blistering benchslaps delivered by Judge Posner at oral argument, but the timing is faster than usual (for a federal appellate opinion in a high-profile case, not for the prolific Posner). [BuzzFeed]
* Bad news for Cahill Gordon: the Third Circuit just revived a fraud case against the high-powered firm and one of its clients, a unit of BASF. [WSJ Law Blog]
* And badder news for BP: a federal judge just concluded that the oil giant was grossly negligent in connection with the 2010 Gulf of Mexico oil spill. [New York Times]
* Freshfields gets fresh talent, adding former Wachtell partner Mitchell Presser and former Skadden partner James Douglas to its ranks. [American Lawyer]
* The dean of Seton Hall Law, Patrick Hobbs, will step down from the deanship at the end of the current academic year. Congratulations to Dean Hobbs on a long and successful tenure. [South Orange Juice]
* And congratulations to John Grisham and Jason Bailey, winners of, respectively, the 2014 Harper Lee Prize for Legal Fiction and the 2014 ABA Journal/Ross Short Fiction Contest. [ABA Journal]
* Brittany McGrath, Brooklyn Law class of 2014, RIP. [TaxProf Blog]
The ALS Association’s “Ice Bucket Challenge” has been wildly successful, raising more than $107 million to support the nonprofit and its great work fighting amyotrophic lateral sclerosis, also known as Lou Gehrig’s Disease. The success even prompted the association to file trademark applications for “Ice Bucket Challenge” and “ALS Ice Bucket Challenge” (ultimately withdrawn, so as not to stop other worthy causes from using the challenge).
Sleep with the case files, Your Honor, and not with the interns.
For some judges, especially judges coming out of private practice, taking the bench means a better lifestyle and shorter hours. But other judges work hard — very hard.
Chief Judge Alex Kozinski of the Ninth Circuit is famous for his work ethic — and for how hard he works his clerks. Judge Mark Bennett of Iowa warns clerkship applicants, “I am looking for a clerk that is willing to work harder than they have ever worked in their life…. If they are one of those life must be balanced folks please don’t waste my time and don’t bother applying.”
Some chambers are well-equipped for long hours. They come with kitchenettes for cooking, showers for bathing (generally reserved for the judges), and couches for napping. And maybe more than napping….
Hop in the DeLorean and travel back in time with us.
Labor Day weekend is here. So let’s talk about… labor! In the Biglaw salt mines.
In response to our earlier Flashback Friday posts about associate compensationin the 1990s, we received a few requests for information about billable hours back then. People wanted to know how hard associates had to work back in the day for that $83,000 starting salary.
It’s a good question. You hear anecdotal evidence going in both directions. Sometimes people who have been in the profession for a long time talk about how hard they had to work before technology made things so much easier, recalling the bad old days of never-ending, hard-copy due diligence or document review. On other occasions, though, old timers reminisce about the good old ways when law was more of a profession and less of a business; sure, lawyers earned less, but they had lives — or , at least, better work-life balance.
Which picture holds more truth? Here’s some data….
Let’s give a round of applause to these great firms.
Earlier this week, the American Lawyer released the results of its annual survey of Biglaw midlevel associates (third-, fourth-, and fifth-year associates at large law firms). We’ll start with the good news: midlevels seem to be quite happy. The average composite score for satisfaction hit 4.08 — the highest in a decade, and higher even than last year’s healthy figure.
But just like last year, which revealed a significant gender gap in terms of job satisfaction, this year’s rosy news comes with caveats. The latest survey shows, for example, that women, African-American, and LGBT lawyers are less satisfied than their non-minority counterparts in terms of measures like training, fairness of evaluations, and partnership prospects.
Now let’s move on to the juicy stuff: the firms with the happiest — and unhappiest — associates. Plus a new ranking from Am Law, focusing on which law schools best prepared their students for Biglaw life….
As we mentioned in Morning Docket and on Twitter, yesterday’s Seventh Circuit arguments weren’t fun for the defenders of Wisconsin and Indiana’s same-sex marriage bans. The three judges, especially Judge Richard Posner, were tough — very tough.
Chris Geidner of BuzzFeed, a leading chronicler of marriage-equality litigation, described the proceedings as “the most lopsided arguments over marriage bans at a federal appeals court this year.” Ian Millhiser of ThinkProgress called it “a bloodbath.”
That’s no exaggeration. Let’s check out the specifics….
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: