When a Biglaw firm drops out of the Am Law 200 and starts hemorrhaging attorneys, you know that things are starting to turn sour. Much like the partners who fled Dewey & LeBoeuf like rats from a sinking ship, a mass attorney exodus is just a sign of other unfortunate events to come.
If a firm’s not careful, one of the first assets to go underwater will be retirement benefits for both current and former employees. That’s when the Pension Benefit Guaranty Corporation swoops in to rescue severely underfunded plans from certain doom at the hands of Biglaw firms experiencing financial woes.
Which law firm turned to the government for help this time, and how underfunded was its pension plan — was it short by $9 million or $39 million?
What should unemployed law school graduates do when they can’t find work and can’t feed themselves? A certain great French princess — although not Marie Antoinette, FYI — might say, “Let them eat cake.”
But not everyone can afford cake. Debt-burdened young (and not-so-young) lawyers don’t want to spend dough; they want to make it.
Perhaps literally as well as figuratively. Do you have some talent in the kitchen? Here’s an inspiring story for you….
* Do you think Chief Justice Roberts is the Supreme Court’s “peacemaker”? To be fair, at least he does a better job of tempering all of his judicial rage than his colleagues. [Politico]
* According to Prof. John Eastman of Chapman Law, the SCOTUS decision striking down DOMA means Prop 8 is good law in California. Try and wrap your mind around that one. [OC Weekly]
* The Senate approved a bipartisan immigration reform plan with a 68-32 vote, and now it’s up to House representatives to take the bill and summarily wipe their asses with it. [Wall Street Journal (sub. req.)]
* The good folks at Hobby Lobby quilted for hours yesterday to celebrate the Tenth Circuit’s reversal of a lower court’s denial of an injunction blocking the ACA’s contraceptives mandate. [The Oklahoman]
* Texas A&M still hopes to acquire Texas Weslyan’s law school; they’re just waiting for the ABA to look over the paperwork. Welcome, Texas A&M Law, since the takeover will obviously be approved. [WTAW]
* Boston bombing suspect Dzhokhar Tsarnaev has been indicted on 30 counts of violence and weapons-related charges. Right now, he’s looking at a possibility of life in prison or the death penalty. [CNN]
But this has started to change over the past few years, as managing partner Thomas Reid discussed in an August 2011 interview with Am Law Daily. In the August 2010 to August 2011 period, DPW hired a half-dozen prominent lateral partners.
And the lateral hiring spree continues (although not without the occasionalsnag). Let’s hear about Davis Polk’s latest high-profile hire, a new lateral partner at Paul Hastings, and an addition to the leadership of Orrick….
Way back in the callow, innocent days of, um, February 2013, the U.S. Supreme Court delivered its opinion in Clapper v. Amnesty International. The case stemmed from a challenge of the constitutionality of Section 702 of the Foreign Intelligence Surveillance Act of 1978, 50 U. S. C. §1881a.
If you didn’t pay much attention to the Court’s decision in Clapper back then, you might want to revisit it now that we know we’re all subject to NSA surveillance . . . .
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.
These are trying times for clerkship applicants. The Law Clerk Hiring Plan is pretty much dead, at least in its strictest version, and it seems like every judge is going his or her own way.
The best applicants can hope for, in the absence of any standardized approach to law clerk hiring, is transparency. Ideally judges should provide clear and comprehensive information about their own particular approaches to hiring clerks. Thanks to this nifty thing called the internet, it’s not that hard.
As in many things, the Southern District of New York provides a model for other courts to follow….
Do federal employees know how to use all the items in this picture?
The federal government hasn’t exactly been covering itself in glory. This weekend, the IRS was caught line dancing. I had to go on The Mike Huckabee Show where I was allegedly “destroyed” by a conservative screaming about Holder and his association with… Covington & Burling. The right wing is whipped up into a frenzy, and I’m sure if they want to keep focusing on this stuff instead of passing, say, comprehensive immigration reform, Hillary Clinton or Joe Biden will thank them for it in 2016.
But the bottom line is that when you habitually starve the government of the resources needed to hire quality people, you end up with less than stellar government services. The IRS probably doesn’t end up looking this incompetent if it isn’t staffed by glorified toll booth employees.
That’s some big picture stuff. Elsewhere in the regulatory firmament, on the small scale, we’ve got federal regulators who are being investigated for their inability to blow their nose properly…
If you think most legal technology misses the mark, LexisNexis Firm Manager® wants to change your mind. Read more about it here.
Built with input from hundreds of solo and small-firm attorneys across the country, it’s made for practitioners who’d rather build the firm of their dreams than deal with the hassles of running a business.
· Go Mobile, Stay Connected.
See all your firm’s information, wherever you are, on whatever device you’re using. Access and update client files, enter billing, search & share documents and more. It’s just like you’re in the office, only you’re not.
When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
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…
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!