The future of the Detroit’s Big Three is looking grim, as Congress has turned tight-fisted in response to the automakers’ request for $34 billion to stay alive. Chrysler is getting ready to throw in the towel, and has chosen Jones Day to do the throwing.
Chrysler LLC has hired the prominent law firm Jones Day as bankruptcy counsel, according to several people familiar with the matter. The firm was hired several weeks ago to help the ailing auto maker prepare for a possible Chapter 11 bankruptcy filing.
Jones Day bankruptcy maven Corinne Ball, a partner in the New York office, will lead the effort should Chrysler fail to secure a $7 billion capital infusion by the end of the year.
Jones Day co-head of restructuring Corinne Ball is handling the case, said the people familiar with the matter. She has worked on other automotive bankruptcies, such as that of auto-parts supplier Dana Corp., and many cases involving the United Auto Workers union. She represented GM in its acquisition of Korean auto maker Daewoo.
AmLaw noted the possibility for this major coup for the Jones Day team. This will be a massive deal. Sad for Detroit and the general economy. But what’s not these days?
Labor Day is behind us. You know what that means: no wearing white, no gin and tonics, and no qualms about sending summer associate stories to ATL. If you have an SA story to share that we haven’t previously covered, please email us.
This latest tale, posted below, puts the “MoFo” in Morrison & Foerster. These kiddies are badass. As always, please don’t name or provide additional identifying information about them. Thanks.
This summer MoFo hosted a firm-wide retreat in Napa, first-class all the way — every attendee stayed in a private one-bedroom condo at the host resort, people got spa treatments, went on wine tastings, open bar every night, etc. Once the bar closed, the real troopers would head over to someone’s condo for an after party. The firm covered minibar tabs, so people would stop by their own places and stock up on drinks to bring along. Nothing out of the ordinary, as far as big firm summer blow-outs go.
The only problem with the trip was the tremendous size of the resort. The condos were scattered all across a large compound. Some rooms were miles away from others. The resort provided shuttle service, but often (especially late at night) the shuttles were slow in coming. Very slow. It was definitely a nuisance.
A couple of days into the retreat, two or three summers apparently got sick of waiting for a shuttle to take them to their far off condos at the end of the evening’s after party festivities. One of them was sick and vomiting or something, so they had a sense of urgency. In a haze of drunken entitlement (or perhaps a twisted sense of altruism: their friend was sick!), these summers decided to “borrow” a car from the resort’s valet to drive home. They busted into the valet key box and swiped the keys to an Audi A6 — first-class all the way! — got into the car, and started it up. Luckily for them, before they could get it into gear and get moving, a recruiter got wind of the operation and came RUNNING AND SCREAMING out of the after party. She got them out of the car; the keys were returned to their rightful place.
But the plans of drunken MoFos are not so easily foiled. Undeterred, they RETURNED to the valet box once the recruiter was out of their way, stole the keys AGAIN, and started up the car once more. This time a MoFo PARTNER saw the situation, ran over to the car, and put a stop to the ill-fated scheme.
What happened to the summers in question? We don’t know for certain, but we’re guessing they got no-offered. While creative problem-solving and taking the initiative are usually desirable qualities for lawyers to possess, stealing cars and driving drunk raise character and fitness issues.
A Coney Island businessman is suing the city for damaging the Bentley he was driving when he killed a Brooklyn dad in a hit-and-run accident.
Harry Shasho, who pleaded guilty to leaving the scene of an accident, says the NYPD failed to safeguard the battered black 2005 Bentley GT luxury sedan that was impounded as evidence of the fatal crash. He’s asking for at least $190,000.
It sounds like Shasho needs a bit of a reality check:
Shasho says the Bentley was in “excellent condition … with no noticeable defects or damage” when he turned himself in, according to the suit filed in Brooklyn Federal Court.
The police report tells a different story. It describes the car as crumpled and the windshield “depressed and fractured” by the violent impact with [victim Louis] Couch that left his body parts strewn across the street.
The suit seeks damages from the city, the NYPD and the Brooklyn district attorney’s office.
Here’s the second half of the “head-to-head” round of ATL Idol. If you’re not up to speed on what’s going on, background information is available in this prior post (or just scroll down the front page to the post immediately below this one).
You can check out the second half of the head-to-head round, featuring the blogging of SOPHIST and FROLIC AND DETOUR, after the jump.
Some lawyers are really into cars. One prominent practitioner here in Washington collects Ferraris — but Tefft Smith is a fairly senior partner at Kirkland & Ellis, and you probably aren’t.
So what you should do in the car department? From the ATL mailbag:
I’m a 3L with an offer to BigLaw in California. I’m planning on purchasing a car, but I’m wondering what is appropriate for a junior associate. I didn’t think it was a big deal, but a friend of mine said that he saw some partners treat associates differently if their cars were nicer then theirs. He also said, clients aren’t too happy seeing young associates driving around in Mercedes and BMW’s. Is there any truth to this?
I don’t want to buy a Honda Civic or something; I want people to take me seriously. But I also don’t want to be too flashy. I was thinking either an Acura TSX or a Lexus IS 300.
FYI — I’ll be working in Northern California, so I don’t need to have a super flashy car to pick up the L.A. girls.
We can understand partners not liking it when associates have absurdly nice autos. But on the flip side, we once heard about an associate at a white-collar criminal defense boutique whose boss ordered him to upgrade his vehicle — a Civic, coincidentally enough — because it would be bad for clients to see him in a Honda. The partner helpfully provided the associate with a list of acceptable luxury car makes (and the associate ended up getting a Volvo, one of the more reasonably priced options).
So, ATL readers, whaddya think? We look forward to your feedback, in the comments. Born to Run: Tefft Smith and His Ferrari Fever [Legal Times]
The rain in Spain falls mainly on… a**holes? Well, only if most Spaniards are like Tomas Delgado — and we’re guessing (and hoping) they’re not.
After all, since chutzpah like this doesn’t come along often. Our latest Lawsuit of the Day hails from Spain, via CNN:
A Spanish businessman withdrew a controversial lawsuit Wednesday against the family of a teenage boy he struck and killed while driving a luxury car.
Tomas Delgado had filed a suit asking the dead boy’s parents to pay him €20,000 ($29,400) on the grounds that the collision that killed their teenage son also damaged his Audi A-8.
After public outrage ensued, Delgado dropped the suit — but was none too happy about it:
The businessman had insisted in a recent television interview that he was a victim, too. He was not present for a court hearing Wednesday. His lawyer told the court that Delgado felt that the extensive publicity amounted to a public lynching.
A high-tech lynch mob for an uppity Audi driver. Who was reportedly driving 107 miles per hour in an area where the speed limit is 55 miles per hour. Who hit the boy from behind, according to the boy’s father, and “dragged [him] 106 meters (347 feet) along a rural highway.”
Read more in the full article (which includes an interesting digression about how quickly you need to file your notice of appeal in Spanish courts; their appeal periods make ours look like an eternity). Driver drops bid to sue family of boy he killed [CNN]
With the police, who pulled you over for a traffic infraction. But the good news is that you’re getting it back. From CBS:
Eight grams of medical marijuana seized from a Garden Grove man during a traffic stop must be returned to him, according to an appeals court ruling directing local law enforcement to uphold state, not federal law.
A three-justice panel of the 4th District Court of Appeal [in California] weighed in on the issue in a published decision that sets precedent for future cases on similar issues.
The marijuana, which belonged to Felix Kha, 22, was confiscated during a traffic stop on June 10, 2005.
The city of Garden Grove tried to argue “that to the extent state law authorizers or mandates the return of Kha’s marijuana, it is preempted by federal law.” The appeals court didn’t see it that way:
Kha’s attorneys argued that the 10th Amendment to the Constitution effectively prohibits federal interference with California’s medical marijuana laws, and the three-justice panel of the 4th District Court of Appeal agreed.
The justices found that because, under state law, Kha was lawfully entitled to possess the marijuana, “due process and fundamental fairness dictate that it be returned to him.”
* Lockdown of Pakistani legal system intensifies. [CNN]
* Reggie Bush investigated for receiving gifts while at USC. [Los Angeles Times]
* Keanu sued for Porschal assault. [MSNBC]
* Peter Lattman on the charms of the dormant Commerce Clause. [WSJ Law Blog]
* Some Fahrvergnügen for Porsche, courtesy of the European Court of Justice. [How Appealing (linkwrap)]
* Surprise surprise: a Yale law professor has issues with Michael Mukasey. Professor (and novelist) Jed Rubenfeld questions the nominee’s views of executive power. [New York Times via WSJ Law Blog]
* If confirmed, Mukasey has his work cut out for him. “Clearly the Justice Department has lost its mojo,” said WilmerHale partner Reginald Brown. [Legal Times]
* Obama criticizes Hillary in Iowa mailing. [Politico via Drudge Report]
* A (very close) vote is expected this week on Leslie Southwick’s Fifth Circuit nomination.
[Fox News via How Appealing]
Additional links, after the jump.
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!