* Elizabeth Edwards has passed away, R.I.P. (Wait, John and Rielle — too soon, too soon.) [WRAL]
* During the New York Attorney General Debate, I predicted that Eric Dinallo would make a good partner at Debevoise & Plimpton. He just seemed so “nice.” Well, turns out I was spot on: Dinallo and Debevoise are a match made in nice people heaven. [Am Law Daily]
* Now that Charlie Rangel has been told he’s a naughty boy, can we get back to the whackjob known as Maxine Waters? [Dealbreaker]
* What it’s like to be addicted to M&A transactions, from the perspective of a retired Skadden partner. [Deal Journal]
* No Drama Obama gets a little bit feisty when defending his decision to extend the Bush tax cuts. In the words of Nice Guy Eddie: “You beat on this prick enough, he’ll tell you he started the Chicago fire. That don’t necessarily make it f**kin’ so.” [Business Insider]
* Back in the day, video could help the wrongly accused, just like DNA helps now. [DNAinfo]
If you’ve been following along with the trend towards outsourcing over the past few years, you know what American lawyers are up against. Indian lawyers can do American legal work… while American attorneys are shut out of India’s (large and growing) legal market.
As many of you know, President Obama recently fledtraveled to India, and ABA president Stephen N. Zack is begging Obama to use his international goodwill to convince India to stop acting like dicks in an exclusionary fashion with respect to American lawyers and law firms.
Zack’s arguments are simple ones, based on sound business practices, free trade, and fundamental fairness. Yet these arguments haven’t worked on Indian legal authorities, and apparently Obama isn’t any more receptive…
The Verrazano Bridge to Staten Island -- the orignal "bridge to nowhere."
Don’t you hate it when rich people try to welsh on a bet? British billionaire Alki David dared somebody to streak — that means “running while naked and probably drunk,” if you’ve never been to college — in front of President Obama. Alki said he’d give the person who streaked in front of the president, with the name of Alki’s website emblazoned on his or her body, the tidy sum of $1 million.
Somebody from Staten Island (why am I not surprised) performed the feat (or substantially attempted to perform the feat) during an Obama event in Pennsylvania. Now Alki is considering hiding behind the law to avoid payment.
This must be how rich people get rich: make outlandish promises, then use fancy law talk to avoid payment…
Yesterday President Obama held a town hall meeting with those affected by the terrible economy. But the New York Times reports that the televised meeting “turned into a therapy session for disillusioned Obama supporters.”
A lawyer was among the disillusioned. Thanks to his question, Obama is now on notice that student debt is crushing the hope and change out of many people in this country. Here’s the Washington Post’s summary:
Then a 30-year-old law school graduate said he’s no longer able to make the interest payments on his educational loans, much less able to have a mortgage or a family. He said he had been inspired by Obama’s campaign. But now, “that inspiration is dying away,” he said. “I really want to know: Is the American dream dead?
If Bill Clinton had been asked that question, he would have said “I feel your pain,” molested the questioner, and said “I will not, let, student debt continue to bang you in the ass.”
So what did President Obama say to the debt-laden lawyer?
Not many people are happy about the massive BP oil spill in the Gulf of Mexico — with the possible exceptions of (1) Elena Kagan, whose confirmation to the Supreme Court is all but guaranteed (since everyone’s too distracted to oppose her); (2) the lawyers who are getting work out of this disaster (as discussed below); and (3) whoever is behind the fake BP Twitter account, which currently has over 167,000 followers.
But today brings some news that might make some people a little less angry at BP. Even though the government probably couldn’t have forced the oil giant to set up a $20 billion fund to pay oil spill claims, for the reasons explained by Professor David Zaring, BP is setting up such a fund voluntarily. The New York Times reports:
The White House and BP agreed on Wednesday that the oil giant would create an independent $20 billion fund to pay claims arising from the worst oil spill in American history.
Bowing to pressure from the Obama administration, the company also said it would suspend paying dividends to its shareholders for the rest of the year and would compensate oil field workers for lost wages.
There are actually several legal angles to the BP drama. For example, who will administer this massive fund? And which firms are getting a piece of all the defense-side action?
Everywhere you go, people are buzzing that President Barack Obama has made his choice on the replacement for Justice John Paul Stevens. And the consensus is that the nominee will be Solicitor General Elena Kagan. Politico reports that David, Kash and I will be up late on Sunday:
Look for President Obama to name his Supreme Court pick Monday, and look for it to be Solicitor General Elena Kagan, a former Harvard Law dean. The pick isn’t official, but top White House aides will be shocked if it’s otherwise… The West Wing may leak the pick to AP’s Ben Feller on the later side Sunday, then confirm it for others for morning editions. For now, aides say POTUS hasn’t decided, to their knowledge.
With all the talk about the razor-sharp Judge Diane Wood, the case for the bearded dark-horse Judge Sidney Thomas, and the Republican wet dream (at least, a wet dream within the nightmare of Democratic control) of Judge Merrick Garland, it’s possible that Kagan’s sterling qualifications have been overlooked. She was the front runner, after all.
But let’s remember all of the excellent reasons Kagan was the front runner in the first place…
Now that President Obama has interviewed the four finalists for the U.S. Supreme Court seat he has to fill — Judge Merrick Garland (D.C. Cir.), Solicitor General Elena Kagan, Judge Sidney Thomas (9th Cir.), and Judge Diane Wood (7th Cir) — the nominee could be announced any day now. Who will it be?
We realize that the betting men (and women) favor Solicitor General Elena Kagan. Kagan is also the pick of Tom Goldstein, the veteran Supreme Court litigator and founder of SCOTUSblog, who correctly forecast the nomination of Sonia Sotomayor (a nomination that the White House sought his counsel on).
But we’re going to go out on a limb and make a crazy prediction: President Obama is going to nominate Judge Diane Wood, of the Seventh Circuit, to the Supreme Court. He’ll announce the nomination on Monday, May 10 — the Monday after Mother’s Day. (That’s significant, for reasons we’ll get to later.)
Televise this chief justice and this president on stage at the Kennedy Center for three hours talking about the role of government and the future of our polity. This historic clash of intellectual titans would be the most powerful civics lesson since the Federalist Papers, and we could sure use it.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
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