Staci Zaretsky became an editor for ATL in June 2011. Before becoming an editor, she helped write ATL’s Morning Docket under the pseudonym Morning Dockette. Her writing has been featured on other legal blogs, such as Lawyerist and Ms. JD. Staci graduated from Lehigh University, and Western New England University School of Law, where her writing was published in the Western New England Law Review. In her spare time, Staci enjoys watching reality television, shopping for clothes she doesn't need with money she doesn't have, and singing along to Lady Gaga's latest hits.
Woo, Biglaw! Being a summer associate is the best!
Summer associate class sizes may be smaller than they were back in the good old days, but Biglaw firms seem to have used the shrinking summer pool as an excuse to throw events that were overflowing with an abundance of awesomeness. Offers are still being tossed out like Mardi Gras beads, and life was very, very good for this summer’s crop of Biglaw initiates.
But just how good are we talking here? We think the fact that we received an overwhelming number of nominations for this year’s summer associate event contest speaks volumes. We managed to whittle down the list of 20+ gushing nominations we received to just eight of the most amazing. Some were cultural extravaganzas, others were athletic outings, but all were fun and absolutely fabulous. Thanks to everyone who submitted a nomination.
Did your firm make the cut this year? Take a look to find out…
* When it comes to all of the same-sex marriage cases that are currently before the Sixth Circuit, the deciding vote could be cast by Judge Jeffrey Sutton, a Republican appointee. [National Law Journal]
* Weil Gotshal snagged a partner from right under one of its largest competitor’s noses. Ray Schrock, formerly of Kirkland & Ellis, may someday co-chair Weil’s restructuring group. [WSJ Law Blog]
* “I got the reward that most volunteers get — which is I ended up having to read many, many hundreds of pages.” This Ogletree Deakins partner figured out how to undo Obamacare in his spare time, and all he got were these lousy bifocals. [Greenville News]
* On-campus interviewing season is almost upon us, so we’re going to give you all of the tips you can stomach. Here are a few more ways that you can hit all of your interviews out of the park. [The Careerist]
* Albany Law and the University at Albany are shockingly not already affiliated with each other, but they’re exploring an “operational alliance.” Will that mean fewer faculty buyouts, or…? [Albany Business Review]
For some reason, very few law firms are prepared to deal with the headcount issues. It is interesting because the reaction from them also is peculiar. I think it was reported—I don’t know, maybe 12 months ago—that Weil Gotshal had a significant layoff of lawyers. They reduced—I think it was their associates, but maybe it was of counsel as well—and there was quite a negative reaction in the press to that.
I am not privy to any of their numbers or anything that is going on in the firm, but, as a restructuring person, my reaction is, “Look, this is someone getting their house in order. This is an appropriate thing to do.” It is no secret that revenues across the industry are down. And, so, you either need to take market share, or you need to right size your organization.
It’s the first week of August, and it seems that Biglaw firms are still handing out offers to their summer associates like candy. Don’t worry if you haven’t received one yet, because some firms are still daring enough to wait until their summer associates are back in school before they welcome their new crop of future associates.
Sure, summer associate classes are smaller than they were before the Great Lathaming and Dewey’s Demise, but now that things are starting to look up, offer rates seem stronger than ever.
Following up on Tuesday’s story, here are more firms that have given offers to all of their summers:
* Let’s get ready to rumble! Not wanting to be left out of the party, Oklahoma has also asked the Supreme Court to take a look at its same-sex marriage statute which was recently slapped down by the Tenth Circuit. [National Law Journal]
* Dewey know what financial restructuring adviser Joff Mitchell of Zolfo Cooper said to this failing firm’s partners right before it flopped for good? “Look, there is no way here to save this firm.” Ouch. That had to have sucked. [Forbes]
* The examiner who was appointed to monitor law firm billing for the City of Detroit’s bankruptcy is now questioning Dentons’ fees of up to $27K per month to talk to the press. Whoa there… [Detroit Free Press]
* Working Mother and Flex-Time Lawyers have released the latest ranking of the Top 50 Law Firms for Women. Vivia Chen feels “a bit dirty” after reading the list — and you probably should, too. [The Careerist]
* Leisure Suit Larry’s successors are here to stay for a while: Case Western Reserve Law’s co-interim deans will stay on in their current positions for the upcoming school year. [Crain's Cleveland Business]
Last September, we told our readers about a sexual harassment lawsuit that was filed by former in-house attorney and publicist Andrea Pellegrini against the Insane Clown Posse and Psychopathic Records, the controversial music group she used to work for and its associated record label. In her complaint, Pellegrini alleged that she was forced to endure “pervasive harassment” during the course of her employment, including, but not limited to, being given a “large dildo” while at work, which she politely refused to accept. Lovely.
This summer, a deposition revealed that after Pellegrini rejected the sex toy, it was allegedly given to Kid Rock by former Psychopathic employee Dan Diamond (d/b/a “Dirty Dan”). Pellegrini’s attorneys then sent a subpoena to the musician, giving him 14 days “to respond and produce the dildo.”
Two weeks have passed, and Kid Rock himself responded to the lawyers’ inquiries, requesting that all parties involved in this ridiculous dildo scavenger hunt find one and shove it up their respective asses…
* Utah appealed its same-sex marriage case to the Supreme Court, making it the first state whose law was smacked down by an appellate court to do so. Let the countdown begin. [National Law Journal]
* In the ruling that saved Alabama’s abortion clinics, Judge Myron Thompson likened the right to have an abortion to the right to bear arms. We can think of a few people who would take issue with that. [CNN]
* In case you’ve been wondering why tax inversions are hot right now, you can blame it all on some bicycling tax and M&A lawyers from Skadden — call them bikedudes at law, if you will. [WSJ Law Blog]
* Law schools tout the fact that their graduates are finding jobs in “J.D. Advantage” positions. Meanwhile, it remains unclear how much of an advantage a law degree actually offers in these jobs. [Am Law Daily]
* In a lawsuit peppered with crazy allegations, a law prof at Florida A&M claims in a gender discrimination complaint that male professors are “paid considerably more” than female professors. [Tampa Tribune]
Once again, we’ve had a slow summer in terms of summer associate gossip. Thanks to the plight of recent law school graduates and their ever-lasting joblessness, it’s a “buyer’s market for law firms” out there, and they’re using it to their advantage.
Summer associates have worked harder than ever before, and they’ve been on their best behavior. Trust us when we say we would have already heard about it if they weren’t, and the only sounds we’re heard have been the chirping of crickets.
We long for the days of lesbianic liplocks and helicopter hijinks, but we suppose we’ll have to settle for what the new normal has given us, which has been nothing short of boatloads of boring.
Given all goody-two-shoes summer associates this year, we’d like to think that offer rates will be absolutely awesome. Let’s find out which firms are rocking the 100 percent offer rate — information that rising 2Ls will want to know as the new on-campus interviewing season starts up…
Girls in my high school briefed cases all the time, it was no big deal.
* According to Patron Saint RBG, the Supreme Court has never really come around on “the ability of women to decide for themselves what their destiny will be.” Gay people are doing well, though, so good for them. [New York Times]
* Two law professors and a consultant built a model that predicts SCOTUS decisions with 69.7 percent accuracy, and justices’ votes with 70.9 percent accuracy. For lawyers who are bad at math, that’s damn near perfect. Nice work! [Vox]
* An Alabama abortion clinic statute which required that doctors have admitting privileges at local hospitals was ruled unconstitutional. Perhaps this will be the death knell for these laws. [WSJ Law Blog]
* Idaho’s Supreme Court rejected Concordia Law’s bid to allow grads to sit for the bar before the ABA granted it provisional accreditation. Too bad, since lawyers are needed in Idaho. [National Law Journal]
* Before you go to law school, you can learn how to gun with the best of them. That’s right, you can practice briefing cases before you even set foot in the door. [Law Admissions Lowdown / U.S. News]
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: