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….
* 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]
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?
* 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]
* 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]
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?
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.)
Does this sign also mean no blacks or women allowed?
It’s the ruling that is splitting the Sixth Circuit apart. A federal bankruptcy judge, George Paine II, belongs to an all-white country club in Nashville. But there is a pesky judicial code of conduct that says that judges “should not hold membership in any organization that practices invidious discrimination on the basis of race, sex, religion, or national origin,” according to the New York Times (gavel bang: ABA Journal).
That seems cut and dry to me. An all-white, all-male country club sounds a hell of a lot like an organization practicing “invidious discrimination.” But I’m not on the Sixth Circuit.
And the Sixth Circuit essentially told Judge Paine: guys in my high school used to belong to discriminatory clubs all the time, it was no big deal.
In a 10-8 decision, the circuit decided to allow Paine to continue his membership in the club and on the bankruptcy court.
So that code of judicial conduct means what exactly?
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: