* The Second Circuit ruled that the World Trade Center Cross may remain on display in the September 11 Memorial and Museum. Apologies, atheists, but it’s a “genuine historical artifact.” [New York Daily News]
* Howrey going to get money back when judges keep tossing unfinished business claims like they’re yesterday’s trash? We’ll see if such claims will be laid to rest after a hearing later today. [Am Law Daily]
* Paul Weiss had a good get this week, with Citigroup’s deputy general counsel leaving the bank to join the firm — which coincidentally has served as the bank’s outside counsel for two decades. [WSJ Law Blog]
* North Carolina, a state that adopted a ban on same-sex marriage in 2012, said it will no longer defend its law in the wake of the Fourth Circuit’s ruling as to a similar ban in Virginia. Hooray! [Los Angeles Times]
* If you missed it, a judge issued a preliminary ruling against Donald Sterling, meaning that the sale of the L.A. Clippers may proceed. Don’t worry, his attorney says this is just “one stage of a long war.” [CNN]
* It seems that “weed-infused weddings” are a hot commodity in states where the drug has been legalized. Sorry, it may be better than an open bar, but it doesn’t seem like a very classy thing to do. [Boston.com]
* From Big Government to Biglaw: Our congratulations go out to Benjamin Horwich, most recently of the Office of the Solicitor General at the U.S. Department of Justice, as he joins Munger Tolles & Olson as counsel. Nice work. [Munger Tolles & Olson]
* The number of law school applicants took a nose dive for the fourth year in a row, this time by 8 percent, summarily crushing the hopes and dreams of law deans praying for a change of their otherwise most dismal fortunes. [National Law Journal]
* Considering the latest slump in applicants, whether a law school evaluates your average LSAT score or highest LSAT score matters little. Admissions officers will jump for joy that you have a pulse. [Law Admissions Lowdown / U.S. News]
* “You don’t have to convict on every count to have a win.” Azamat Tazhayakov, friend of accused Boston Marathon bomber Dzhokhar Tsarnaev, was convicted of obstruction and conspiracy to obstruct justice. [Bloomberg]
* Per documents filed by a lawyer appointed to represent Philip Seymour Hoffman’s children, the actor didn’t set aside money for them because he didn’t want them to become “trust fund kids.” [New York Post]
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
As long as it has been around, the Am Law 200 list has been seen as what separates the best from the rest. It seems simple, transparent, and concise with each firm ranked in ascending order. However, many misconstrue Am Law ranks to mean overall value and assume that the firms at the top of the list are indubitably the best.
Some partners with books of business larger than War & Peace assume that the biggest firm will be the one with the best platform and financial flexibility to absorb their practice. In reality, many firms towards the middle of the Am Law 200 can better accommodate these lawyers (although many just as likely cannot).
When looking at the compensation average for partners, the gross profits of a firm are a relatively poor predictor compared to the other available metrics. Among the best indicators of firm health and the compensation is the profitability index…
The average high temperature for Houston in July is a scorching 94 degrees. It’s one hot legal market.
Figuratively as well as literally. Back in April, for example, we talked about Kirkland & Ellis opening a Houston office — and prying away partners with $5 million pay packages. You don’t need to be a high-powered partner to get in on the fun; even junior to midlevel associates are getting offered signing bonuses when they lateral.
And this hot market is only getting hotter. Who’s the latest major law firm to land in Space City?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Justin Flowers is a Principal with Lateral Link. He oversees attorney placements (both partner and associate level) and client relationships with the top international U.S.- and U.K.-based firms in Asia, the Middle East and Emerging Markets. Justin also establishes and maintains relationships with firms new to the international markets in general, or to a specific market, who are in need of attorney placement services on an international level. In addition to his work in international markets, Justin also advises domestic U.S. boutique law firms on their strategic growth and hiring. He practiced law as a litigator for several years before becoming a recruiter. Justin earned a J.D. from NYU School of Law and an undergraduate liberal arts degree, cum laude, from the University of Oklahoma, where he attended the Honors College.
At the halfway point of the year, 2014 so far has been a perfect storm of big ticket corporate work, with the U.S. IPO market on record pace and global M&A activity surging to aggregate value levels not seen since 2007. This year’s torrid deal pace is already turning the normally relaxed summer months into a period of high recruiting activity.
No doubt about it, summer gets a bad rap as lateral seasons go. But whether or not you intend to take advantage of the current deal market driving demand, summer should be a time for action.
If you are considering a lateral move “early next year,” then there’s nothing to be done in the next couple of months other than take advantage of your firm’s renewed enthusiasm for the summer associate class, right? Wrong. Here’s why:
On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”
Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.
But we wonder if there’s more to this story than meets the eye….
Here at Above the Law, we love ourselves a good departure memo. If a great one makes its way into your inbox, please feel free to send our way.
People write departure memos so they can frame their farewells — explain why they’re leaving, provide their new contact information, and thank the people who need to be thanked. But what about if a partner — a managing partner, no less, and one involved in a summer associate scandal from a few years ago — just quits without explanation?
In that case, the remaining members of management write her departure memo for her. And oh what a departure memo….
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Sarah Morris is a Director at Lateral Link based in Northern California and oversees attorney placements and client services in California. Prior to joining Lateral Link, Sarah practiced law for five years at Skadden, Arps, Slate, Meagher & Flom LLP where she was involved with the hiring and women’s committees. Sarah also worked as an in-house attorney for Bare Escentuals. Sarah obtained her J.D. from Berkeley Law School (Boalt) and her B.A. from the University of California at Berkeley.
Many candidates find that most lateral interviews end up being easier than anticipated, but there are always those tough questions that you want to be prepared for. In addition to doing your research on the firm or company you are interviewing with, be prepared to spend a few hours familiarizing yourself with the types of questions you may be asked. Nothing turns off an interviewer more than “ummm” and “uhhh.” You don’t have to memorize your responses verbatim (and you shouldn’t), but being prepared will help you avoid awkward answers. While it is impossible to cover every tough question an interviewer may ask, below are some of the more commonly asked questions. In addition to some recommended responses, I have also added comments explaining the purpose of the question, and I point out some “traps” the interviewer may be setting by asking you that particular question…
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.