I’m a summer associate in Texas (3,500 sq. ft., wife, etc) and I drive to work where I park my car in the office’s parking lot. My car is a 2005 BMW. Should I be concerned about looking like a jackass?
Get Outta My Dreams, Get Into My Car
Dear Get Outta My Dreams, Get Into My Car,
You should always be concerned about looking like a jackass, whether it’s rolling up to work in a Beemer or wearing a fedora at Sunday brunch. In any other year, normal associates might look forward to the summer class arriving; but this year, the summers are viewed as intruders, freshly arrived to snatch associates’ jobs out from under them. Despite the ludicrous scavenger hunts and game nights concocted in your honor, make no mistake; you’re persona non grata at terra law firma, and your goal this summer should be to be as unobtrusive as possible. Your car should reflect your humility as well as your groundling status at the firm, and a BMW, no matter how ancient, will never do that. You’ll need to lease, but what should you get?
Driving up in a car of the Ferrari/Lamborghini/Lotus ilk is obviously out, since you’re not Richard Gere from Pretty Woman and this is not a “dream date” with Jillian on the The Bachelorette. Jaguars are for eccentric billionaires, Ford Probes are for high school sleazebags and Mercury Sables are for drug dealers. Since you’re in Texas, you may be tempted to trade in your BMW for a pickup truck, but I strenuously advise against this since pickups indicate that spend your free time listening to Toby Keith while patrolling the Mexico border with a rifle and Coonhound named Rusty. Toyota Priuses are for wimps, and minivans are for people who drive carpool or own florist shops. DeLoreans, Pintos, GMs and other cars that are dangerous and/or no longer made are always cool.
When I worked as an intern in Newark, I drove a 1997 teal Toyota Camry with Cobra rims (not kidding). The smooth handling and tape deck made many people very jealous, and when someone stole my front left rim, I learned firsthand the dangers of driving flashy cars. Go with something junky, like a Kia or an Isuzu, but if you don’t feel like shelling out the extra cash, your best bet is a Huffy. Get the one with the basket so you can take your laptop home.
Elie loses his sh*t while parallel parking, after the jump.
The big news story for today, as noted in Morning Docket, is the bankruptcy filing of General Motors. Developments on the GM front are being closely covered over at our sister site, Dealbreaker (which also welcomes a new writer today).
There are some legal angles to the GM story, of course. The bankruptcy will generate lots of work for several top firms, as noted by the WSJ Law Blog and Am Law Daily.
But you don’t need a law degree to play a major role in this drama. From the New York Times:
It is not every 31-year-old who, in a first government job, finds himself dismantling General Motors and rewriting the rules of American capitalism. But that, in short, is the job description for Brian Deese, a not-quite graduate of Yale Law School who had never set foot in an automotive assembly plant until he took on his nearly unseen role in remaking the American automotive industry….
“There was a time between Nov. 4 and mid-February when I was the only full-time member of the auto task force,” Mr. Deese, a special assistant to the president for economic policy, acknowledged recently as he hurried between his desk at the White House and the Treasury building next door. “It was a little scary.”
Maybe more than a little scary. But YLS grads students can do anything, right?
Find out how Brian Deese landed this gig, and take our reader poll asking what should be done with GM, after the jump.
Californians, as we understand it, really care about their cars — and their parking spots. So White & Case’s latest maneuver out in Palo Alto could mean war:
White & Case’s Silicon Valley office is in a Palo Alto office complex shared with several other firms. Historically, all the parking, including a large parking garage, has been shared among all firms.
Apparently, White & Case used the downturn in the commercial lease market to renegotiate its terms with the management company. Just after the new year, around a dozen primo parking spots in parking garage were rebranded to indicate that they were for “White & Case guests.” This did not sit well with the locals.
But if you think that White & Case backed down, you’ve got another thing coming. Details after the jump.
So should Weil Gotshal associates be rooting against a government bailout of GM and the other big automakers?
GM bankruptcy –> more fees for Weil –> bigger bonuses (which WGM has not yet announced)?
UPDATE (1:00 AM): As of now, it looks like the auto industry bailout talks have failed. This makes a GM bankruptcy even more likely.
But even if GM does file for Chapter 11 (or even Chapter 7), thereby generating thousands of billable hours for Weil associates, it’s unlikely that Weil will pay out Skadden-sized bonuses (although the speculation sure is fun). As noted in the comments, Weil generally follows the market, and the market has settled around Cravath.
Paying above market could create problems for Weil. As one reader previously noted, “Weil will never be a bonus leader because there is concern at the firm that it would seem unsightly by the firm’s bankruptcy clients to lead the market with bonuses.”
That concern seems warranted. As GM director George Fisher told Bloomberg last week, “We are fearful, very fearful, of a prolonged [bankruptcy] proceeding that would just destroy our brand in the marketplace and therefore that is not considered a viable option…. These Wall Street geniuses and law firms are coming up with all these solutions that make them a lot of money.”
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]
Hey, have you read Above the Law for like one single minute in the past month? If so, you probably know that we’re having this big blogger conference on March 14th at the Yale Club. Yeah, the Yale Club. You’ll be able to recognize me: I’ll be the only big… blogger guy surreptitiously holding a can of crimson spray-paint.
Speaking of coming, you should come. We’ve got CLE and all that. Click here to buy tickets to get CLE credit for listening to bloggers scream about stuff on the internet.
To refresh your memory, details on the panel that I’m moderating — almost entirely sober, mind you — follow.
My panel is called Blogs as Agents of Change, and we’re going to talk about whether all of these spilled pixels are actually making a difference. You know my view… just ask Lawrence Mitchell, but here are the panelists:
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.
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