* When it comes to the U.S. Congress — especially the current one, said to be the least productive and least popular in history — and federal lawmaking, “action isn’t the same as accomplishment.” [Boston Globe]
* The Department of Justice won’t seek the death penalty against Edward Snowden, but only because the crime he’s charged with doesn’t carry that kind of punishment as an option. But oh, Eric Holder can wish. [CNN]
* Sorry to burst your bubble, but Biglaw as we know it is on a respirator, so be prepared to recite its last rites. The New Republic’s Noam Scheiber responds to the critics of last week’s hard-hitting piece. [New Republic]
* The grass isn’t greener on the other side right now. Revenue per lawyer rose at Biglaw firms in 2012 (up 8.5 percent), but small firms struggled (with RPL down 8.1 percent). Ouch. [National Law Journal]
* Let me Google that for you: Hot new technology startups have been looking to lawyers who hail from the innovative internet company’s ranks when staffing their own legal departments. [The Recorder]
* If you’re wondering why more financial crimes haven’t been prosecuted since the Wall Street meltdown of 2008, it’s probably because they’re too just difficult for most juries to understand. Comforting. [NPR]
* In a recent interview having to do with all of the problems that law schools are currently facing, from shrinkage to joblessness, Professor Paul Campos sat down to politely say, “Told ya so.” [Denver Post]
“For example, on or about July 29, 2009, a recently hired SAC PM (the ‘New PM’) sent an instant message to [Steve Cohen] and relayed that, due to some ‘recent research,’ the New PM planned to short Nokia when he started work 10 days later. The New PM apologized for being ‘cryptic’ but noted that the head of SAC compliance ‘was giving me Rules 101 yesterday – so I won’t be saying much[.] [T]oo scary.’”
Possibly the weirdest part here is that new hires got compliance lectures two weeks before they showed up at the firm? But maybe not; the DOJ takes a pretty dim view of SAC’s hiring process generally, and if you believe the DOJ that SAC’s main hiring criterion was “is good at insider trading,” then you could imagine the need for a little pre-start-date warning in email etiquette:
* Akin Gump partner Patricia Millett is willing to take a whopping pay cut to serve on the D.C. Circuit — from $1MM to $184K — and for that alone she should be confirmed ASAP. [National Law Journal]
* With the number of law firm mergers in the last six months alone, we’re on a “potentially record-setting pace” for 2013. Hey, look at it this way: it’s cheaper than hiring and firing laterals. [Am Law Daily]
* According to the Bureau of Labor Statistics, in June, the legal industry lost more jobs than it has in a single month since June 2011. Congrats, Class of 2013! welcome to the real world. [Am Law Daily]
* In its defense, Standard & Poor’s claims its ratings were puffery, and that no reasonable investor would rely on them. Aww, poor widdle “sophisticated consumers of [investment information].” [Bloomberg]
* For those of you practicing personal injury law in New York, this case is a bombshell. If you want to put the whole insurance industry on trial, follow the action here. [New York Personal Injury Law Blog]
* Sarah Jones, the ex-cheerleader who sued TheDirty.com for defamation, was back in federal court yesterday for the beginning of her case’s retrial. What a way to start an engagement. [ABC News]
* The editors of Ramblings on Appeal give their takes on Shelby County. Rarely has truer legal analysis been offered than characterizing Roberts’s decision as, “Oh and I have five people on my side, you only have four, so take that.” [Ramblings on Appeal]
* UVA law professor Chris Sprigman has co-authored an op-ed calling out the NSA. Oh, that guy’s phone is getting tapped. [New York Times]
* The Expert Institute continues to draw from popular culture to coach expert testimony. This time it’s Game of Thrones. It’s a handy set of lessons, but “Never Trust a Frey” deserved mention. [The Expert Institute]
* With a sharp focus on the Supreme Court and the legal definition of equality, only one thing’s for sure with respect to this week’s anticipated rulings: at least one group of people is probably going to get screwed. [New York Times]
* And lest we forget, thanks to our society’s near slavish obsession with social media and knowledge on demand, we’ll salivate uncontrollably as we wait for those opinions while the justices blissfully ignore new technology. [New York Times]
* The Justice Department charged NSA leaker Edward Snowden with espionage, and now he’s pursuing political asylum in Ecuador with the assistance of legal counsel representing WikiLeaks. [NBC News]
* Biglaw firms are trying to strengthen their pricing power in a post-recession world, with average rate increases of 4.8% in 2012, and hourly rates soaring in New York City. [Wall Street Journal (sub. req.)]
* There’s no solace for people who have had to pay to have their mug shot “depublished” from the internet. Sorry, the First Amendment allows people to turn a profit off your misery. [Washington Post]
* This lawsuit over unpaid internships filed against Gawker will sting any gossip girl’s heart to the core. But really, isn’t the privilege of working for Gawker enough? This fangirl thinks so. [New York Post]
The NYPD really loves its stop and frisk policy. The prospect of randomly stopping exclusively minorities a random selection of New Yorkers really excites the department. And why not? The practice has done wonders to prevent crime in the city. Well, if you define “crime” as pot possession. Because the policy hasn’t accomplished much of anything else.
Now the constitutionality of the policy is in jeopardy, awaiting a decision from Judge Shira “Don’t Call Me Judy” Scheindlin, the judge the City decided to embarrass by commissioning a report accusing her of bias because the City is incredibly stupid.
When and if (OK, “when”) Judge Scheindlin strikes down the current iteration of the policy, Eric Holder has a suggestion for how to remedy the violation. And Mayor Mike Bloomberg is none too pleased…
I don’t really feel the need to slap a “hero” or “villain” label onto Edward Snowden, the former Booz Allen Hamilton contractor who blew the lid off of the secret government email spying program now known as Prism. I mean, if I have to choose, I go “hero” because I basically don’t trust any program the government won’t even explain to its own people. And I certainly don’t trust anything that’s every come out of a FISA court, because how can I?
But I don’t know that this was the right or only way to bring this important information to light. I believe, I kind of need to believe, that the public’s ability to know and stop potentially massive government overreach rests on more than the good conscious of high school dropouts living in Hawaii. Perhaps so-called “small government” types will join together with progressives in saying that non-public courts issuing secret warrants is probably a bad thing.
With that in mind, I would love to see Snowden evade prosecution. It’s not his fault that he wasn’t able to forge alliance between Ron Paul supporters like himself and progressives who wish that politicians were as afraid of Fourth Amendment as the Second.
But how can he stay free? The Justice Department is loading up charges and Hong Kong just wants what’s good for business. Snowden is already on the move, where should he go? Come on people who went to law school for “international law” get your head out of complex cross border transactions and help this brother out…
* A case of Supreme Court techciting gone wild: What happens when your book is cited in a SCOTUS opinion, but to express an opinion you’ve never endorsed before? A whole lot of irony. [New York Times]
* The Justice Department is dropping its appeal over a federal order that would allow promiscuous prosti-tots minors to access the morning-after pill. Hooray, over-the-counter emergency contraception for all! [CNN]
* The National Law Journal just released the most recent edition of the NLJ 350. As we saw in the Am Law 100 and 200, “economic wariness” was pervasive throughout Biglaw in 2012. [National Law Journal]
* More women are “bringing home the bacon,” but it’s the cheap store brand because they can’t afford better. It’s been 50 years since the Equal Pay Act was signed into law, and women are still earning less money than men. [ABC News]
* When it came time for the ABA to change the time frame for law schools to submit jobs data, it pushed the decision back till August. Adopting the wait-and-see method already, huh? [ABA Journal]
* Jury selection has begun in the Trayvon Martin murder trial, where the verdict will hinge upon George Zimmerman’s credibility. It’s like we’re learning about trials for the first time, you guys. [Bloomberg]
The tipping point might be fatigue. You get to a point where you just get tired.
– Attorney General Eric Holder, responding to a question about his possible departure from the Justice Department that was posed yesterday by Senator Richard Shelby of the Senate Appropriations Committee.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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, 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.