Biglaw

You don’t often hear many good things about diversity in the legal profession. Women lawyers continue to be told how to dress themselves, and minorities have to grapple with racist typos.

Despite the negativity that exists in the law when it comes to issues of gender, race, and sexual orientation, there are some law firms that are doing their best to make sure their attorneys are as diverse as their practice areas.

Which law firms came out on top in terms of diversity? Check out Vault’s rankings to find out…

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Chief Judge Loretta Preska

According to Black’s Law Dictionary (affiliate link), a judicial diva is “a particularly confident, skilled, and physically attractive female judge.” By this definition, Chief Judge Loretta Preska (S.D.N.Y.) is a judicial diva. She is highly regarded, as both a judge and an administrator, and she never looks anything short of fabulous.

I’ve been fascinated by Judge Preska for years. I had this to say about her back in 2004 at my first website, Underneath Their Robes: “Magnificent. Tall, thin, elegant. Great bone structure, perfectly coiffed silver hair. Note to self: nominate for superhotties contest next year?”

This gorgeous judge now owns a gorgeous apartment. Chief Judge Preska and her husband, a partner at one of the nation’s most profitable law firms, just paid almost $9 million for a penthouse apartment on the Upper East Side….

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Earlier this month, we launched the ATL Law Firm Reputation Survey, asking those of you working in Biglaw to rate your peers and competitors. (Take five minutes and take our survey here.)

For our purposes, we split “reputation” into two distinct aspects: 1) the reputed strength and quality of a firm’s practice, and 2) the perceived desirability of the firm as a potential employer. For some, these factors will be functionally equivalent. For others, these are less overlapping considerations.

To date, we’ve received not quite a thousand survey responses and today we share some preliminary findings. What are you telling us thus far about which firms have the strongest practices? Which firms are some of the most coveted Biglaw employers in major markets?

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Like one of probably hundreds of associates of a certain vintage, I spent a fair number of billable hours sifting through thousands of documents (often copies of copies of copies of the same document) relating to the Enron fraud.  LJM1 and LJM2, Raptor I, II, III, and IV, etc. 

I don’t recall discovering anything that many others hadn’t already noticed, but as I found to be true in other document reviews, there were plenty of personal emails sprinkled amongst the “wheat” that offered some respite from the boredom of the review task.  That, plus the fact that essentially limitless low-stress billable hours are great for hitting bonus targets, were for me pretty much the only redeeming features of the document review exercise….

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Stephen DiCarmine as the Annoying Orange

[T]he insatiable greed of some of those [equity] partners and the decision of some partners to jump ship when the going got rough were major causes of D&L’s collapse, not Steve DiCarmine’s actions.

– Attorney Austin V. Campriello of Bryan Cave, arguing on behalf of Stephen DiCarmine, Dewey & LeBoeuf’s former executive director, in a memorandum in support of his client’s motion to dismiss the indictment.

(Keep reading to see DiCarmine’s entertaining memorandum in full.)

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Insider trading is one of those activities that you should avoid. If you’re a lawyer, it’s an activity you should definitely avoid. It’s not really all that hard to steer clear of insider trading either. Obviously there are some murky cases, but it’s wise to err on the side of caution.

On the other hand, there are also cases where the SEC says a close friend of a company’s executive is emailing you and telling you which days to buy because “[e]arnings are being released on the 30th along with some good news,” and “[l]ooking forward to getting paid back. Good luck…. SHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!” Those are the cases where you probably should walk away.

Put aside the insider trading: what lawyer is using email to have these conversations?

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This isn’t just another departure memo. This is a guide, an illustrated guide to exactly how a person can go from “I make $160,000 or more a year doing something I spent three years training to do” to “screw it, I’m outta here.”

This lawyer/artist went to a top-six law school, she worked at a top Biglaw firm, and now she’s leaving to pursue her considerable artistic talent. You can check out her departure memo below. Everybody who has thought about quitting or actually quit Biglaw will have a panel that speaks to them. My favorite is when her parents tell her, “You could do Art Law!” Because when you are quitting, calls with mommy and daddy are awesome.

Congratulations to this woman. It gets better, folks.

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Job stress is a big deal. It’s not just that it makes you feel constantly anxious and irritable and more likely to get involved in shouting matches — and that’s just with your alarm clock. Occupational stress impacts our overall well-being. For example, it increases marital strife and has also been more strongly associated with health issues than financial or family problems.

One way to avoid job stress is to avoid having a job. I know this may sound like a tempting alternative, but I’ve tried this at one point and found that it wasn’t an ideal option. Because when not working means that your hubby nags you every other minute to get your butt off the couch and clean off the month-old Cheetos stuck between your teeth, it’s still pretty stressful.

So assuming we’re forced to follow the conventional, non-lazy route, which is the better option from a stress perspective — working in-house or at a law firm? Well, it depends. Sorry, I know that it’s one of those typical, boring, hedgy responses that lawyers like to give every time they’re confronted with a question, but there really isn’t a more appropriate response….

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* Congrats to William Voge, who was elected as the new chairman of Latham & Watkins. He succeeds Robert Dell in this position, who is one of the Am Law 100′s longest-serving leaders. [Am Law Daily]

* Dewey’s former execs filed a motion to dismiss their criminal charges, lamenting the fact that the Manhattan DA made them “scapegoats” for the total failure of their firm. [DealBook / New York Times]

* A judge banned the Washington Redskins name from his court, proclaiming that the offensively monikered team shall be known only as “the Washington Team” in documents submitted. [WSJ Law Blog]

* Senate Majority Leader Harry Reid thinks that if it were up to Judge Judy, House Speaker John Boehner’s “show trial” suit against President Obama would be thrown out in “half a second.” Well then. [ABC News]

* A Michigan attorney was arraigned yesterday on a felony charge of homicide-solicitation of murder. It seems that the hired hitman warned his target. He’s not getting a good Yelp review. [UpNorthLive.com]

* If you’re an international student with a foreign law degree trying to get a law degree in the U.S., why the hell would you waste your money on a J.D.? Just get an LL.M. [Law Admissions Lowdown / U.S. News]

* Oh baby8: Nadya Suleman (formally doing business as Octomom) pleaded no contest to welfare fraud charges after she failed to report income from all of her public appearances and porn videos. [Reuters]

I want business that gives me a splitting headache to do, because I know that work is not going to be commoditized.

George Bason Jr., global co-head of Davis Polk’s mergers and acquisitions practice, commenting on the complicated transactions he prefers to work on. Bason’s attractive firm recently tied for fourth place with Cleary Gottlieb in Dealogic’s ranking of deals by dollar values in the first half of 2014.

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