As we mentioned in Morning Docket, the American Lawyer recently released its highly influential, closely watched Am Law 100 law firm rankings. They say that “slow and steady wins the race,” and with regard to economic recovery, Biglaw firms seem to have taken that up as their new motto.
Yes, partners are still living as large as they ever were, but their success now comes in the form of single-digit returns with regard to key financial metrics. The divide between the “haves and the have-nots” in the world of major law firms has grown to epic proportions, and some Am Law 100 staples have fallen out of the top hundred firms altogether. Welcome to the new normal.
Are you ready to get excited about “modest” and “spotty” gains across the board? Let’s dig in….
That’s the question the WSJ Law Blog just asked about the [pick your favorite adjective: beleaguered / collapsing / flailing / troubled] law firm of Dewey & LeBoeuf. Today brings big, bad news for Dewey: bankruptcy superstar Martin Bienenstock is taking his practice to Proskauer Rose. He’s moving with five other partners — Philip Abelson, Irena Goldstein, Timothy Karcher, Michael Kessler, Judy Liu — and nine associates.
Dewey’s loss is Proskauer’s gain. “He is absolutely the crown jewel over there, a fantastic lawyer who will be a great partner,” a current Proskauer partner told us. “This is going to vault us into the company of Kirkland and Weil, giving us one of the top bankruptcy practices in the country. We are really thrilled.”
The public career of Rudolph Giuliani is likely at an end. The New York Times reports that Giuliani will not be running for the U.S. Senate:
Former Mayor Rudolph W. Giuliani has decided not to run for the Senate seat held by Kirsten E. Gillibrand, Republicans briefed on his decision said Monday evening. …
Mr. Giuliani, whose decision to forgo a race for governor was reported a month ago, plans to endorse Rick Lazio for governor of New York on Tuesday afternoon at a news conference in Manhattan, the Republicans said. Mr. Giuliani’s intentions were reported by The Daily News on its Web site Monday evening.
But don’t cry for the former mayor. Giuliani leaves public service for a lucrative life he’s made for himself.
We are so close to the end of the Vault open threads that I’m starting to get my second wind. I don’t know much about the firms on this part of the list, but you guys do. You know a lot. You’re so smart, you probably don’t even need this quick recap of the next group of firms. But I’ll go through it anyway:
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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