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.
If part of your reason for going to law school is that, well, there’ll be a good job that you like and will pay well afterwards, then you’re maybe mistaken. There’s more than 90,000 lawyers in Illinois, and I’m not confident there’s enough jobs. Law school is no longer a safe road to a successful career.
Earlier this year, when we mentioned lawyers’ love lives (or the lack thereof), we wrote that “[l]awyers may not lead the most luxurious of lifestyles, but if you’re single and looking, it’s still a profession that will make prospective dates ooh and aah.” In fact, “[m]ost people in the average dating pool think being a lawyer is a road to riches, thus making these eligible bachelors even more appealing.”
Some lawyers, though, really do have the full package — they’re handsome, well-educated, and filthy rich. To that end, Gotham Magazine is currently running its Most Eligible Bachelors competition, and as luck would have it, some influential attorneys made the list.
Feast your eyes upon some of Biglaw’s best and brightest, and then vote for your favorite…
* The Supreme Court’s new term kicks off today, and lawyers are pumped — especially since “the Roberts court [may] be to the rights of gays and lesbians what the Warren court was to the rights of African Americans.” [New York Times]
* But come on, the Supreme Court hasn’t even decided to take up a same-sex marriage case for October Term 2014, you say. Not to worry, because “[h]owever slow the term is starting, it could obviously explode.” [USA Today]
* This year’s law firm merger pace is slightly more robust than last year’s record-breaking rate. Lawyers should probably get ready for some real merger mania before the new year comes. [Am Law Daily]
* The legal services sector just lost the largest number of jobs in a one-month period in almost five years. Our condolences to recent law school graduates who are still searching for employment. [WSJ Law Blog]
* On the other side of the spectrum, this recent law school graduate has it made. This former bank robber turned D.C. Circuit clerk just found out he’ll be allowed to take the bar exam. Yay! [National Law Journal]
This summer, we began reporting on the uphill battle the Thomas M. Cooley Law School faced with regard to its declining revenue and student enrollment. In early July, we were the first to break the news that Cooley Law would stop accepting first-year students at its Ann Arbor campus as part of a “financial management plan.” At the time, James Robb, the law school’s associate dean of external affairs and senior counsel, said there were no plans to close the campus.
Plans apparently changed quickly, because at the end of July, we learned that Cooley Law was considering consolidating the Ann Arbor campus with other Cooley campuses by the end of the fall 2014 semester. Once again, Robb assured the media that no definitive plans had been made yet.
Now that we’re almost halfway through the fall 2014 semester, it seems that Cooley Law has begrudgingly decided to lie in the bed that it has made. This may be the first law school campus closure since the public started learning that legal education wasn’t all that it was cracked up to be…
For a moment, I thought about probation. For a moment. I need to send a message that it isn’t who you are, how famous you are. If you do something wrong, there will be consequences to pay. Confinement is absolutely necessary in this case.
– Judge Esther Salas of the District of New Jersey, speaking during Real Housewives of New Jersey star Teresa Giudice’s sentencing yesterday afternoon. Giudice was sentenced to serve 15 months in prison, and her husband, Joe Giudice, was sentenced to serve 41 months in prison.
The scandalous “porngate” controversy has been brewing for a while now in Pennsylvania. If you’re not familiar with what happened, it seems that hundreds of pornographic and racy emails were exchanged between dozens of state government employees and officials from 2008 to 2012. The vast majority of those emails were sent or read on state email accounts. Thus far, the names of eight former employees of the attorney general’s office have been released as being involved in the erotic email exchange, and two people have already resigned from their positions.
Late last week, the chief justice of the Pennsylvania Supreme Court demanded information on whether any of the justices seated on his bench had taken part in any of the sexy email swaps. Days later, we now know that at least one of the justices may have been improperly banging his gavel alongside state officials.
Which justice allegedly traded sexually explicit emails with his colleagues?
FYI Jami and Therese: On Wednesdays, we wear pink!
* SCOTUS justices added 11 cases to this term’s docket yesterday following their megaconference earlier this week. Alas, no same-sex marriage cases have been added yet. [New York Times]
* The Fifth Circuit allowed Texas to enforce its new abortion clinic restrictions. The only thing that will stop its “devastating impact on abortion access” is SCOTUS intervention. [MSNBC]
* Two more women just joined the ranks of the highest tier of Biglaw firm leadership. Congrats to Jami Wintz McKeon of Morgan Lewis and Therese Pritchard of Bryan Cave. [WSJ Law Blog]
* Gibson Dunn poached a prominent partner from U.K. firm Ashurst following his fall from grace as its leader last year. He’s thrilled to work for “one of the strongest U.S. firms around.” [Am Law Daily]
* The Thomas Jefferson School of Law may be “California’s worst-performing law school,” but it certainly performs well in terms of providing entertainment for those who are big fans of schadenfreude. [City Journal]
* Many schools pay their grads to count them as employed — but not UNC Law. Its career services office is aware that “jobs don’t grow on trees,” but hey, at least they’re trying to be transparent. [Daily Tar Heel]
* Another one bites the dust over at Main Justice: David O’Neil, the head of the criminal division, is stepping down in the wake of the BNP Paribas case, and will likely have many white-shoe law firm suitors. [DealBook / New York Times]
* Fox Rothschild picked up a 18-lawyer boutique firm in Texas, which will serve as the home of its first outpost in the Lone Star State. Energy law, surprisingly, wasn’t the driving factor. [Legal Intelligencer]
* “I have a heart and I have two kids.” That’s a pretty damn good reason for Biglaw attorneys to take a break from their corporate billable hours to represent undocumented children pro bono. [WSJ Law Blog]
* Scott Greenfield reviews Lat’s forthcoming novel, Supreme Ambitions (affiliate link). Of course, in SHG style, it contains a spoiler. Try to skip that clearly marked paragraph. [Simple Justice]
Since the Great Recession, it’s far too often that the public hears tales of horror about lawyers drowning in debt. We think it’s time for a change of pace. There are plenty of lawyers out there who have really made it financially — in case you’re mistaken, these people aren’t millionaires, they’re billionaires. These people would laugh at the thought of people suffering under the weight of six puny figures of law school loans.
As luck would have it, there’s a way to keep track of these luxurious creatures. Earlier this week, Forbes released its annual list of the richest people in America, the Forbes 400. Each year, we pore over the list to find the wealthiest lawyers, and in 2014, legal eagles continue to make a strong showing.
Which lawyers made the list this year? Keep reading to find out…
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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: