Last night, I attended a panel discussion at the 92nd Street Y featuring some very interesting individuals — including two lawyers. Thane Rosenbaum, the law professor and novelist, moderated a panel featuring former federal prosecutor Daniel Alonso, CNBC anchor Kelly Evans, and the “star” of the evening, Jordan Belfort — the disgraced stockbroker turned convicted felon turned bestselling author who served as the inspiration for Martin Scorsese’s 2013 film, The Wolf of Wall Street.
So what was the evening like? One attendee described it as “cringeworthy” — and I have to agree….
[T]he solution to the knot [of complex legal problems] has been to add more string. Simply adding more lawyers and compliance professionals will only create far worse, more complicated and more costly problems.
Since the launch of alt.legal, Ed and I have received a lot of very interesting emails and feedback. It is apparent that many of you read ATL literally allday love working in Biglaw, but most many have considered taking a walk onto the alternative side (sounds far more erotic than it is).
What we hope to prove to you through this ongoing column is that legal entrepreneurship is exciting, prestigious, lucrative, and, most importantly — to the many resilient lawyers out there who have remained idealistic in the face of back-to-back all-nighters — your best chance to change the legal system for the better. Moreover, despite what you think, innovation in the law is NOT just in e-discovery. Turns out, there are problems worth solving associated with almost every practice, and with each, there are entrepreneurs and innovators ready to change the game. (My co-author, Ed Sohn, is planning to write more on this underground world next time.)
Today, we profile one such entrepreneur, Adam Nguyen, who saw inefficiencies in the always-exciting process of contract review for due diligence (hey litigators, it turns out M&A lawyers have to do document review too), and leveraged $150,000 worth of Harvard Law-branded problem solving to create an innovative technology solution called eBrevia.
* Judge Posner dished out a whole lot of benchslaps at yesterday’s Seventh Circuit arguments over Indiana and Wisconsin’s bans on same-sex marriage. [BuzzFeed]
* Major U.S. and Canadian law firms chow down on Burger King’s whopper of a deal with Tim Hortons. [Am Law Daily]
* A recent Delaware court ruling on attorney-client privilege might allow in-house lawyers to speak more freely about wrongdoing at their companies, according to Professor Steven Davidoff Solomon. [DealBook / New York Times]
* The corruption trial of former Virginia governor continues; yesterday Bob McDonnell’s sister took the stand. [Washington Post]
* A favorable evidentiary ruling for Aaron Hernandez. [Fox Sports]
* And good news for Zephyr Teachout and Tim Wu, the two law professors running for governor and lieutenant governor of New York: the Times dissed their opponent, Andrew Cuomo, with a non-endorsement. [New York Times]
* I recently spoke with one of my cousins Joao Atienza of the Cebu Sun Star, about Above the Law and the world of legal blogging. [Cebu Sun Star]
Mindy Kaling and Preet Bharara at the Harvard Law School commencement.
The legal world doesn’t have too many “crossover celebrities,” figures who are big enough to be known outside our little corner of the world. We can all think of a few — Alan Dershowitz, Judge Judy, Supreme Court justices (arguably) — and not all of them are awesome (cough cough, Nancy Grace).
One of the youngest crossover celebrities is Preet Bharara, U.S. Attorney for the Southern District of New York. He’s been on the cover of Time magazine. He’s attended the Vanity Fair Oscars party.
Bharara is best known for his crackdown on Wall Street abuses and insider trading, but he’s a fun person underneath the prosecutor’s dark suit. Yesterday the New York Times ran an interesting profile of Bharara. Here are some highlights….
* Utah appealed its same-sex marriage case to the Supreme Court, making it the first state whose law was smacked down by an appellate court to do so. Let the countdown begin. [National Law Journal]
* In the ruling that saved Alabama’s abortion clinics, Judge Myron Thompson likened the right to have an abortion to the right to bear arms. We can think of a few people who would take issue with that. [CNN]
* In case you’ve been wondering why tax inversions are hot right now, you can blame it all on some bicycling tax and M&A lawyers from Skadden — call them bikedudes at law, if you will. [WSJ Law Blog]
* Law schools tout the fact that their graduates are finding jobs in “J.D. Advantage” positions. Meanwhile, it remains unclear how much of an advantage a law degree actually offers in these jobs. [Am Law Daily]
* In a lawsuit peppered with crazy allegations, a law prof at Florida A&M claims in a gender discrimination complaint that male professors are “paid considerably more” than female professors. [Tampa Tribune]
Not since its pursuit was enshrined in the Declaration of Independence has “happiness” had a bigger cultural moment than now, and not just because of that “room without a roof” earworm. There is a new and rapidly growing science of happiness, a mash-up of economics and psychology sometimes called “hedonics,” which tells us that money can buy happiness, but only to a point. Meanwhile, in corporate America, we witness the emergence of a new C-suite character, the Chief Happiness Officer, who is responsible for employee contentment. Sort of like an HR director, but smiling and magical.
Recently, the U.S. National Bureau of Economic Research released a paper, “Unhappy Cities,” reporting the findings of a major survey asking respondents about their satisfaction with life. The authors, academics from Harvard and the University of British Columbia, found that there are persistent differences in self-reported subjective well-being across U.S. cities and, unsurprisingly, residents of declining cities are less happy than other Americans. (Interestingly, the authors suggest that these unhappy, declining cities were also unhappy during their more prosperous pasts.)
So there are unhappy cities; there are also unhappy (and relatively happier) law schools. When ATL’s own Staci Zaretsky learned that Springfield, Massachusetts — home of her alma mater, the Western New England University School of Law — made the list of unhappiest cities, it came as no surprise: “It’s hard to tell where the local misery ends and that of the law school begins.” Prompted by Staci’s observation, we wondered whether unhappy cities make for unhappy local law students. Or is the law school experience so intense and self-contained that one’s surroundings have little impact? What are law students in the happiest (and unhappiest) cities in the country telling us about their own personal satisfaction?
Every now and then you forget that Capitol Hill interns are the absolute worst. Unless you live in Washington, D.C. In that case, these type-A Tracy Flicks are always around to give your already douchetastic bars that extra drop of vinegar. It’s not just that these proto-gunners won’t stop talking about their overinflated sense of the long-term legacy their ability to alphabetize will have on tax reform, it’s that they do this while surrounded by other D.C. professionals who actually make a difference want to talk about how much more alphabetizing they’ve done in their careers.
On some level you want to appreciate their eager spirits. It reminds you of the hopes and dreams you had before the weight of the world crushed you. But then other times their shameless sense of self-worth reminds you that politics is a narcissist’s game. Even if the narcissist is well-meaning, like I presume most interns are. Like when you get a tweet like this one from Yahoo’s Chris Moody:
I’m not gonna snark on this Hill summer intern. More power to him.
So apparently Moody is getting his passive-aggressive on by telling his 22K followers all about how he’s not going to snark on the snarkworthy link he’s sending. Moody would have made a great lawyer.
Well, what did this intern do? Did he make a cheesy webpage about himself explaining how he’s going to president?
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 seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
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● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!