* Now that Barack Obama has secured his seat as a two-term president, in-house counsel in the financial sector can kiss their dreams of Dodd-Frank being repealed goodbye. Here are some issues to think about in light of its new footing. [Corporate Counsel]
* “We’re in the early innings of adjusting what value means.” And these days, it looks like “value” is synonymous with “making less money.” Given the results of this third quarter analysis, it’s quite clear that flat is still the new up for Biglaw. [WSJ Law Blog]
* Blow my whistle, baby? A DLA Piper partner filed a $4M suit against the Office of the Comptroller of the Currency on claims he was maliciously prosecuted as revenge for whistleblowing. [Daily Business Review]
* From Biglaw to Midlaw: Morrison Cohen, a midsize firm, managed to poach a partner from Willkie Farr. But how? Apparently this guy was no longer interested in billing “$900-plus” per hour. [New York Law Journal]
* Former Congresswoman Gabrielle Giffords will be present at Jared Lee Loughner’s sentencing hearing today, though it is unknown if she herself will speak. His expected sentence is life without parole. [ABC News]
Yes, Republicans are waking up this morning to the horrible realization that women and minorities get to vote in this country.
And gays. Oh, yes, gays and lesbians had a really good day yesterday. Republicans are licking their wounds by telling us that Obama had a very narrow victory and that this is still a “center-right” country. And maybe that’s true on economic issues. But on social issues? Homophobia was rejected last night. In its place, weed won. Think about that. After a 0 for 32 success rate with same-sex ballot initiatives, two states legalized gay marriage by popular vote, Washington will almost certainly affirm the legislature’s legalization of same-sex marriage, and one state declined to outlaw it. And we have our first openly lesbian Senator.
But, like Théoden King, it was not Obama of Chicago that lead gays and lesbians to victory out of the Deeping Wall of inequality. Obama was a late and unsteady comer to the fight for equal rights.
In fact, don’t think any national politician can claim the mantle of “leader” on this issue. Instead, I think that the law, through its protectors on our nation’s courts, have brought the people around on this issue….
Did Sandy’s thumb tip the scales in favor of Obama? Yesterday, we asked you, the ATL readers, and the answer was an emphatic no. For just last week, you predicted a comfortable reelection, despite the contemporaneous claims of a dead heat. And you were right. So, apart from the election, where the Superstorm seems to have been of little account, we wondered how Sandy (ed. note: are we still talking about the damn storm?) was, in your view, handled by your employers and schools.
Responses to our ATL Insider Survey tell us that, generally speaking, lawyers rate their employers highly in more abstract areas (e.g., “satisfaction” and “culture”) and lower in more concrete categories (e.g., “compensation” and “training”). Last week, we in the Northeast megalopolis all faced the very concrete challenge of Superstorm Sandy. Since then, we’ve covered how many firms have acquitted themselves admirably in the wake of the storm, with pro bono efforts and charitable contributions to support relief and recovery efforts.
But how about during the run-up to Sandy? Yesterday, we asked our readers who live and work in Sandy-impacted areas to assess the performance of their schools or employers in the face of the storm: how prepared were they? Was sufficient technology in place to continue operations? And how are things going now, a week later? This, in addition to a question about how the storm might have affected the outcome of yesterday’s election. Read on for the results….
* “We know in our hearts that for the United States of America, the best is yet to come.” Barack Obama was re-elected as president. Bring on the hope and change! No, seriously. [New York Times]
* In news that shouldn’t come as a surprise, regardless of who won the presidential race, there are still post-election voting issues that will likely be resolved in the courts. [Blog of Legal Times]
* But what we really want to know is who will be our country’s next attorney general. Because if anyone can fill Eric Holder’s shoes, it’s Preet Bharara, the U.S. attorney for the S.D.N.Y. [WSJ Law Blog]
* In other important news, several states approved gay marriage ballot initiatives, and others legalized marijuana. But hopefully you don’t have a case of the munchies yet — federal law still says it’s illegal. [CNN]
* They helped American citizens “ba-rock” the vote: hundreds of law students from around the country rallied around the craziness of Election Day to volunteer their assistance to worthy causes. [National Law Journal]
* Biglaw firms in NYC are still reeling after Hurricane Sandy. While WilmerHale set up temporary offices last week, both SullCrom and Fried Frank could be out of commission for weeks. [Reuters; New York Times]
* At this point, in-house counsel are kind of like the McKayla Maroneys of the legal profession, because they are seriously unimpressed with outside counsel’s efforts to improve services and fees. [Corporate Counsel]
* Judge Theodore Jones, associate judge of the New York Court of Appeals, RIP. [New York Law Journal]
Based here in New York, I’ve spent the last several days watching the news while drinking copious amounts of whisky (klassy hurricane tip: pour the whisky directly into the can of coke — it saves washing a glass later if you’re worried about losing water!). The stream of images showing devastated areas is truly horrifying.
Thankfully my bunker of an apartment survived unscathed, but that did not excuse me from my own share of post-traumatic stress. But in my case it was seeing a number of lawyers-turned-politicians parading across the news channels displaying their own law firm certified brand of crisis management and triggering flashbacks to my years in private practice.
When we suffer the zombie apocalypse (which could happen as early as next Tuesday) or any other movie-level disaster, if we continue to place executive power in the hands of lawyers, we’re all screwed….
Seeing as half the Eastern seaboard is underwater or in the dark or throwing a massive party, perhaps the only other topic Americans care about right now is — you guessed it — next week’s presidential election.
Most of us know how granular the campaigning has become these last few weeks, as the candidates vie for the heart and mind of the ever elusive swing voter. But for some time now, both Mitt Romney and President Obama have taken advantage of another highly detailed, technical voter research strategy. They dig up electronic information about voters using data-mining techniques pioneered by everyone’s favorite American institutions: online retailers.
Yep. Because the process voting for president is just the same as deciding what new XBox game to buy…
Hey look: a word cloud of ATL reader comments regarding the election
Most national polling data on the presidential race shows an essentially dead heat between the Kenyan communist and the plutocrat in magical underpants. The president seems to have a lead in the electoral college race, and Romney appears to have a slight edge in the overall count, but this may just be statistical noise. Any and all recent movement in the data is well within the margin of error. Nobody can say with a straight face that they really have a solid grasp of where things stand.
* “We have all the resources and infrastructure we need for any potential dispute or recount.” Because elections aren’t just for Election Day anymore. [Thomson Reuters News & Insight]
* UC Hastings College of the Law has set up a symposium fund to honor fallen alumnus J. Christopher Stevens, the U.S. Ambassador to Libya. [NBC Bay Area]
* People realize that the next President will probably get to appoint a couple of SCOTUS justices, right? [Slate]
* That’s some costly attorney misconduct: a lawyer who got slapped with a $10,000 sanction for “egregious conduct” at a deposition now has to pay an additional $36,274 in legal fees. [New York Law Journal]
* Scratching your nuts in public is gross, but it’s not the same as, uh, some other grosser, more illegal activities. It would behoove this woman to learn to recognize the difference. [Legal Juice]
* Should wearing “personality” glasses count against a criminal defendant? I dunno, but as a guy who has to wear glasses I find it bizarre that people choose to wear them as fashion accessories. Might as well wear a useless prosthetic arm too; I hear they’re the next hip trend. [Legal Blog Watch]
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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