* Presidential campaigns for Election 2012 are focusing in on the Supreme Court and future appointments to the high court, and Vice President Joe Biden is really not a fan of Justice Scalia. [POLITICO]
* Dewey know what the ramifications of D&L’s $50M insurance policy will mean for the resolution of the failed firm’s bankruptcy proceedings? Well, Steve Davis is probably happy. [Thomson Reuters News & Insight]
* Howrey going to pay off all of our creditors? Probably by dipping into the coffers of the 70 other law firms that took on our defectors. Have fun with all of those subpoenas. [Capital Business / Washington Post]
* The percentage of women in Biglaw partnership positions is up 2.8% since 2003, but the equity gender gap remains. At least some progress is being made. [National Law Journal]
* “I thought your papers were terrific, I just disagreed with them.” Kleiner Perkins isn’t a fan of backhanded compliments, so the firm is appealing a judge’s decision to keep Ellen Pao’s case out of arbitration. [Reuters]
* James Holmes, the alleged shooter in the Aurora movie-theater massacre, is scheduled to make his first court appearance today for an initial advisement. Thus far, he’s facing at least 71 charges. [Denver Post]
* The class action suit filed against Cooley Law over its allegedly deceptive employment statistics has been dismissed, much like the NYLS lawsuit before it. More on the dismissal to come later today. [WSJ Law Blog]
* “Sex isn’t going to buy me dinner.” Michael Winner, the attorney accused of offering “pro boner” assistance to female inmates, claims in an interview that the allegations against him are “just plain false.” [WSB-TV Atlanta]
* Bankruptcy blues: “No one is getting a free pass.” Howrey going to start clawing back all of that money from our former partners and their new firms? Dewey even want to get started with this failed firm’s D&L defectors? [Am Law Daily (sub. req.)]
* Way to show that you’ve got some Seoul: Ropes & Gray, Sheppard Mullin, and Clifford Chance were the first Biglaw firms to receive approval from the Korean Ministry of Justice to open the first foreign firm offices in South Korea. [Legal Week]
* This is supposed to represent an improvement? Pretty disappointing. The percentage of women holding state court judgeships increased by a whopping 0.7 percent over last year’s numbers. [National Law Journal]
* Throw your birth control pills in the air like confetti, because a judge tossed a lawsuit filed by seven states that tried to block the Affordable Care Act’s mandatory contraception coverage provision. [Lincoln Journal Star]
* “[S]omewhere along the way the guy forgot to tell the seller that he was working with the buyer.” Duane Morris was sued for negligence and breach of fiduciary duty for more than $192M. [Thomson Reuters News & Insight]
* Please don’t Google me, bitches. Brandon Hamilton, Louisville Law’s ex-assistant dean for admissions, resigned Monday after overpromising $2.4M in scholarship money to incoming law students. [Courier-Journal]
* A New Hampshire college is offering free tuition to students in their junior year if they combine their senior year with their first year at the Massachusetts School of Law. The catch? Mass Law is unaccredited. [NHPR]
* You know what’s really got to suck hard? Turning down a Supreme Court nomination to be governor, and then losing your gubernatorial re-election bid. Mario Cuomo is the Bad Luck Brian of our time. [New York Daily News]
* And speaking of bad luck, this prominent antitrust lawyer is like the harbinger of Biglaw doom. In the last four years, Marc Schildkraut has bounced from Heller to Howrey to Dewey. Good luck to his new firm, Cooley LLP. [Washingtonian]
* Another judge — this time from the S.D.N.Y. — has found that the Defense of Marriage Act is unconstitutional. Paul Clement, the patron saint of conservative causes, is probably facepalming right now. [Reuters]
* “I don’t know how you all practice law in Texas.” It looks like the judge presiding over the Roger Clemens case hasn’t been keeping up with all of our crazystories from the Lone Star state. [Wall Street Journal]
* “[T]he epitome of unprofessionalism”: State Attorney Angela Corey couldn’t take the heat from Harvard Law professor Alan Dershowitz, so she threatened to sue the school and get him disbarred. [Orlando Sentinel]
* “What did you guys do to deserve me? How did you guys get stuck with this? Ay yi yi.” At least Jerry Sandusky’s got a sense of humor about a potential 500 year sentence. [Thomson Reuters News & Insight]
* The election outlook for birthers may not be so bleak after all. Sure, Orly Taitz lost her bid to be a senator, but Gary Kreep might get to be a judge in San Diego County. We’ll find out later today. [North County Times]
If you believe traffic stats (we do), many of you have been enjoying our extensive coverage of the Dewey & LeBoeuf meltdown. One of our coverage hallmarks has been the consistently awesome puns based on “Dewey.”
The wordsmithing is largely the handiwork of David Lat. And it’s somewhat of a tradition around these parts. We employed the same linguistic device during the Howrey collapse last year.
So it’s only fitting at this point in the game to recognize a commenter who riffed off our puns particularly well. Dewey have a Comment of the Week winner? Yes, we sure do….
Which former White House official lives in this charming abode?
As we move deeper into election season, more of the nation’s attention is turning to Washington. So it seems only fitting for Lawyerly Lairs, our peek into the homes and offices of top legal talent, to follow suit.
In our last visit to D.C., we looked at residences worth around $500,000, a perfectly respectable sum. But today, to enhance the voyeuristic thrill, we’re upping the price point. We’re limiting ourselves to seven-figure residences.
Let’s have a look at some million-dollar homes in the Washington metropolitan area, shall we?
On Thursday morning, while talking to my therapist — no, not the People’s Therapist — I mentioned that I’ve been quite busy at work these days, covering the fast-moving story of a law firm implosion. I started to explain, but he interrupted.
“You mean Dewey?” he asked. “I know all about it. An old friend of mine is a partner there. He just asked me for a referral.”
Sign #1 that a law firm story has gone mainstream: your shrink knows about it. Sign #2: it’s getting covered by esteemed general-interest outlets like Slate and the Economist. (In Slate, Reynolds Holding argues that the experience of Ruden McClosky, the Florida firm that pulled off the bankruptcy-cum-merger maneuver last year, could provide helpful lessons for Dewey.)
Aside from a report that some partners want criminal charges brought against chairman Steven H. Davis, as noted in Morning Docket, things have been relatively quiet on the Dewey front over the past day or two. Perhaps too quiet, for some people….
In August of 2009, while driving around Silicon Valley after speaking at Santa Clara Law, I saw an office park in East Palo Alto with a sign that jumped out at me. Being a Biglaw groupie, I stopped and snapped a picture:
I parked, got out of my rental car, and walked around. I was struck by the beauty of the overall office complex, with its expansive plaza, immaculate landscaping, and fountains. It was a veritable law firm Xanadu!
'Hahaha, and then I said that I didn't know they were prostitutes.'
* Was the Obamacare case brought prematurely? Did the Supreme Court’s judicial intervention come too soon? Yesterday’s arguments before SCOTUS can be summed up in four simple words: “That’s what she said.” [New York Times]
* Howrey going to get out of this one? The defunct firm’s bankruptcy trustee, Allan Diamond, is trying to decide whether he’ll be bringing adversary claims against the dissolution committee and its members. [Am Law Daily]
* U.S. News is doing what the American Bar Association refuses to do: make law schools its b*tch. Listen up, administrators, because your next “reporting error” could cost you your ranking. [National Law Journal]
* Armed with a treasure trove of new evidence, Facebook has moved to dismiss Paul Ceglia’s lawsuit. What does his lawyer from Milberg have to say? A hacker planted all of the evidence, duh. [Wall Street Journal]
* Apparently Dominique Strauss-Kahn’s got hos in different area codes. He’s been keeping his pimp hand strong — so strong, that he’s been charged with aggravated procurement of prostitutes. [Bloomberg]
* Broke your nose trying to walk through a glass wall at the Apple store and now you’re suing for $1M? That’s an app for that! It’s called common sense, and for a limited time only, it’s being offered free of charge. [Forbes]
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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