Bankruptcy

* Like many of the victims of Bernie Madoff’s Ponzi scheme, he and his wife contemplated suicide, too. But come on, why bother? Was career suicide just not good enough? [New York Times]

* For Sale: One Illinois law license at discount price! Hasn’t been used in 15 years — almost like new. Slightly tarnished. If interested, please contact Rod Blagojevich ASAP. [Chicago Sun-Times]

* Howrey gonna get paid? With a $3M bill and a new Chapter 11 bankruptcy trustee in place, that’s what all of these professional service firms are wondering. [Am Law Daily]

* 1Ls may be dumber this year, but prospective law students have gotten 13% smarter. That isn’t saying much, though, because 68% of them still want to go to law school. [National Law Journal]

* The TSA agent who advised this lawyer to “get her freak on” after spying a sexy personal item in her luggage has been professionally spanked. [New York Post]

President Barack Obama really thinks recent graduates are stupid. Seriously, he thinks that graduates out there suffering under crushing debt obligations in an economy where there aren’t enough jobs to go around are so dumb that they don’t even know what they want.

Educational debt has been a big part of the Occupy Wall Street protests. Today, President Obama will announce “new” programs to help students in debt. At least, he wants the media to report these programs as “new.” Those who have been paying attention, such as debt-saddled law students, will recognize that there is very little “new” about these programs.

In fact, Obama seems to honestly think that students and recent graduates wouldn’t be so angry if they knew about all the programs already in place.

It’s all a bit patronizing. If the Obama administration had really been paying attention, they’d know that recent graduates want meaningful reform, not the piecemeal incremental efforts that we’ve seen so far….

double red triangle arrows Continue reading “Obama’s ‘New’ Plans For Student Debt Are Not New In Any Way”

Ribs are delicious, but try not to eat your husband's.

* With about 90 vacancies in the federal court system, the Senate approved six for judgeships, including Judge John Roll’s replacement. [Thomson Reuters News & Insight]

* $400 per wasted hour? That’s not what you’re paying your lawyer. That’s what he’s paying in sanctions for futzing around during depositions. [Daily Business Review]

* Texas Roadhouse: old farts need not apply. Apparently qualifications for working at a chain restaurant now include being young, hot, and chipper. [Los Angeles Times]

* Friendly’s used to be the place where ice cream made the meal, but now it’s the place where ice cream makes you bankrupt. That’s just sad. [Bloomberg]

* Memo to file: the way to a man’s heart is through his stomach, not yours. A former model is seeking parole after she chopped up, cooked, and ate her husband. [Daily Mail]

* Derrick Bell, law professor and racial advocate, RIP. [New York Times]

* Steve Jobs, creator of the iPhone, one of the most popular tools for lawyers, RIP. [Apple]

Karolina Stefanski

* Anna Nicole Smith is still screwing old white men from beyond the grave. Biglaw firms want Heller Ehrman’s claims to be decided in federal court, not bankruptcy court. [Thomson Reuters News & Insight]

* Kirkland & Ellis is pledging $2.75M to Stanford Law over the next five years in an effort to convince more students to take douchey pictures in front of their office signage. [Stanford Daily]

* Slow and steady wins the race, especially when it comes to reporting the news. A few news sites were eager to let readers know that Amanda Knox lost her appeal… except she didn’t. [Atlantic Wire]

* The Supreme Court has rejected yet another Obama birther lawsuit. Legal reasoning? “STFU, we’ll probably only have to deal with this dude for another year.” [CBS News]

* TWU to NYPD: Please don’t force us to listen to these Occupy Wall Street fools. We’d rather have our regular crazies on board. Of course, their lawsuit says it a bit more eloquently. [Wall Street Journal]

* Karolina Stefanski is being sued by an ex over some blank checks to the tune of $80K. Seriously, who cheats on a Playboy model? I mean, come on, boobs. [New York Post]

Andrew Shirvell: Photoshopportunity?

* SCOTUS halted Duane Buck’s execution in Texas last night. How did it take 16 years for this to happen? Slow and steady doesn’t win the race on death row. [CBS News]

* Casey Anthony owes the state of Florida a pretty penny. At this rate, she may as well go to law school, because she’s already $97,626.98 in the hole. [CNN]

* New lawyers in Florida must take civility pledges. If they’re treating each other with such incivility, why haven’t we seen any benchslaps from that state lately? [ABA Journal]

* The U.S. Trustee has thrown a curveball at two Biglaw firms in the Dodgers bankruptcy case. Will Dewey & LeBoeuf and Young Conaway ever get paid? [Bloomberg]

* You’re so vain, you probably think this movie’s about you. Sorry guys, you may be a few good men, but to be Tom Cruise, you have to be good-looking and have a passion for Xenu. [New York Times]

* Andrew Shirvell has to spill the beans on whether Ave Maria had to warn the state bar about his conduct. Apparently the man’s got great gaydar. Wonder why… [Detroit Free Press]

Robert Ruyak

One of the most colorful characters in the saga of Howrey LLP, the once-thriving law firm that dissolved this past March, was Robert Ruyak, former chairman of the firm. How many law firm leaders write inspirational poetry for their summer associates?

Alas, many at Howrey found Ruyak’s leadership to be less than inspiring. He was frequently cast as the villain in the demise of the firm, which he led for over a decade before its dissolution. As noted by the WSJ Law Blog, Ruyak was criticized “[i]n some corners of the blogosphere” for “not respond[ing] swiftly enough to declines in the firm’s productivity” and “not sufficiently shar[ing] management responsibilities with his fellow partners.” According to the American Lawyer, he caused the firm to overexpand, taking on too much risk — in the form of lateral partners and contingency cases, among other things — when it should have been buckling down for tough times ahead.

Today brings news that Robert Ruyak has found a new professional home. Where’s he going?

double red triangle arrows Continue reading “Musical Chairs: Robert Ruyak, Ex-Chairman of Howrey, Finds a New Home”

Judge Peggy Ableman

Ed. note: Due to the Labor Day holiday, we’ll be on a reduced publication schedule today. We’ll be back to normal tomorrow. A restful and happy Labor Day to all!

* More about the Delaware benchslap that we covered last week (including the news that Judge Peggy Ableman’s pajama party did not go forward as proposed). [Delaware News-Journal]

* The federal government is suing 17 banks for almost $200 billion, blaming the banks for mortgage-backed securities that went bad. [Bloomberg]

* An interesting dissection of the legal fees that Dewey & LeBoeuf is running up as counsel on the Los Angeles Dodgers bankruptcy. [New York Times]

Roger Clemens

* Roger Clemens will face a second trial next year. Lester Munson, the esteemed legal analyst, explains why. [ESPN]

* “From One Bankrupt Firm to Another: Brobeck Asks Heller For $471,000.” [Am Law Daily]

* AT&T faces a tricky balancing act in dealing with the Justice Department’s challenge of the T-Mobile deal. [New York Times]

* If you’re confused about the current role of lawyer-turned-entrepreneur Michael Arrington over at AOL, in the wake of AOL’s acquiring his TechCrunch site, you’re not alone. [Digits / Wall Street Journal]

* I’m flying this weekend for the first time in over a year (it couldn’t be avoided). I’ll need to brush up on what rights I still retain during air travel. As long as I acknowledge TSA’s droit du seigneur to my wife, I’m allowed to carry an unopened water bottle on board, right? [Legal Blog Watch]

* There’s a statement from the University of Baltimore on the Phillip Closius situation. They say their “forward momentum” will continue. Does that mean they expect future Baltimore Law students to be unable to run a Google search? [WSJ Law Blog]

* Lat imagined a future legal career for Casey Anthony that starts with a Anthony getting a GED (before clerking on the Supreme Court and becoming a law partner of Jose Baez). But doesn’t Hustler seem like something more in her wheelhouse? [Gawker]

* Have we done irreparable damage to our credit rating, unless we can prove we have a legal “fail-safe” in case a vocal Tea Party minority hijacks the entire freaking nation again? [Blackbook Legal]

* Taco Bell employee fired for refusing to get his hair cut. I guess they were worried about 100% real hair mixing with their isolated oat product — er, seasoned beef. [Associated Press]

* Howrey going to massively reduce our assets for bankruptcy reporting purposes? [Chapter11Cases]

A busy Biglaw bee.

If you’re bummed about having to shelve your plans for a nice tropical vacation this summer, you’re not alone. According to 43% of survey respondents, this summer is turning out to be busier than the rest of the year.

The top reasons cited for the increased billables are that partners are bringing in more business (63%) and the economy is improving (42%). Some of the other reasons, however, are not as upbeat: respondents report having to pick up the slack for other associates who left their firm voluntarily or involuntarily (28%), or who went on vacation (15%).

Another 30% of survey respondents say that this summer has been slower than other months (while the remaining 27% of respondents report that their workload is about the same as the rest of the year).

Why the work slowdown? Which firms and practice areas are turning up the heat this summer? An which ones are cooling things down?

double red triangle arrows Continue reading “Career Center Survey Results: How Busy Are You?”

If I were in their role and in their position, I probably wouldn’t understand it either, that a club really can’t attract minority members.

– Judge Gilbert S. Merritt Jr. of the Sixth Circuit, commenting to the New York Times about two of his colleagues on the court — Eric L. Clay and R. Guy Cole Jr., both African-American — and their strong reactions against a bankruptcy judge’s membership in an all-white, all-male country club.

(Judge Merritt is also a member of the Belle Meade Country Club, although an honorary one without voting privileges.)

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