Above the Law

Recent Headlines from Above the Law

 

When it comes to Biglaw word-processing jobs, Williams Lea is the grim reaper. As we’ve chronicled in these pages, numerous leading law firms have outsourced their word processing and proofreading functions to this prominent provider.

This has led to layoffs — lots and lots of layoffs. Some affected employees have been sad, and some have been angry. One complained of the “callous disregard for the welfare of long-time Foley [& Lardner] employees” that a Williams Lea takeover displayed.

But could these changes be beneficial — not just for law firm bottom lines, but for the affected individuals? The latest law firm to outsource its WP and proofreading functions, one of the most prestigious and profitable firms in all the land, makes the case….

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Partnership: Biglaw’s ultimate brass ring.

Becoming a Biglaw partner does not necessarily mean you’ll live happily ever after. It doesn’t even guarantee financial security. Indeed, some partners end up filing for personal bankruptcy.

But that’s an anomalous case. Partnership at a major law firm might not guarantee you happiness — sometimes you have to leave the partnership to follow your bliss — but it generally brings with it tremendous pay and prestige.

That’s especially true of partnership at the nation’s 10 most prestigious large law firms. Most of them have only a single partnership tier — equity or bust, baby — and sky-high profits.

Who are the new partners at these 10 firms, and what do their selections reveal about Biglaw today?

double red triangle arrows Continue reading “New Partner Watch: Incoming Partner Classes at 10 Top Firms”

This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.

For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.

The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.

Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….

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If you still need to do holiday shopping for a lawyer or law student in your life, we’ve got you covered. Just check out our ATL Holiday Gift Guide (sponsored).

What about holiday gifts for secretaries or administrative assistants? In the past week or so, our lawyer readers have been writing to us seeking guidance.

With all due respect to Marin’s hilarious list, secretaries do not want “scented candles, Josh Groban CDs, or Cirque du Soleil tickets.” They want straight cash, homey.

But how much cash should you give? And what, if anything, should you give to paralegals and other support staff you work with? Let’s discuss, then take a few polls at the end….

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We’ve seen a surprising amount of drama emanate from the normally hushed halls of One Liberty Plaza in 2013. Cleary Gottlieb, one of Biglaw’s best firms, has been the site of contention and controversy regarding irate ex-staffers, support staff stealth layoffs, and a summer associate with a dark past.

Some of our Cleary readers and sources have objected to this coverage as painting a misleading picture of goings-on at CGSH. Their general view: all this drama is limited to the ranks of support staff — who have been coddled over the years, and are finally now being forced to be more productive. When it comes to the lawyers at Cleary, it’s business as usual.[1]

Is it “business as usual” with respect to associate bonuses? Cleary just announced….

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Scalia’s buddy?

* “What about devil worshippers?” Justice Scalia may think Satan’s gotten “wilier,” but that doesn’t mean his supporters don’t deserve religious representation in their public meetings. [WSJ Law Blog]

* Speaker of the House John Boehner says that if the Employment Non-Discrimination Act passes, tons of lawsuits will be filed — except that hasn’t happened in states with similar laws. Oopsie… [Reuters]

* Judge Shira Scheindlin isn’t going to just sit there and allow herself to be kicked off the stop and frisk case. In a rare move, she asked the Second Circuit to reverse its ruling and reinstate her. Go girl! [Reuters]

* Quinn Emanuel is welcoming a frequent firm-hopper (from Sidley to Clifford Chance to Cleary Gottlieb) into its ranks in D.C. to join Weil defectors Mike Lyle and Eric Lyttle. Best of luck! [Am Law Daily]

* Gibson Dunn scooped up Scott Hammond, a longtime leader of the Department of Justice’s Antitrust Division. Query just how large the dangling carrot at the end of the firm’s stick was. [Blog of Legal Times]

* Till death or criminal charges do we part: troubled lawyer Kent Easter claims he didn’t have the backbone to stand up to his wife. He blames the entire drug-planting scandal on her. [L.A. Now / Los Angeles Times]

Oh, derp, which is the thin one again?

If so, you’re not alone. We’ve written before about how a legal career can be hazardous for your waistline. In a reader poll asking whether you’ve gained weight during your career as a legal professional, almost 60 percent of you answered in the affirmative (“yes, and I’m tipping the scales of justice”).

So what can be done? Meet a former Biglaw associate who can help you turn things around. Based on her own fit and fabulous physique, this attractive attorney knows a thing or two about getting and staying in shape….

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* The lawyer who shot himself in the back and lied about it has pleaded guilty since his defense was full of self-inflicted holes. [WBIW]

* Do you want to be a partner? These 12 simple rules are a good start. (Not featured: Rule 13. Have incriminating pictures of the other partners.) [At Counsel Table]

* The University of Vermont and Vermont Law School are considering a joint “3-2″ degree program. So if you’re 18 years old and positive you want to grow up to be a lawyer, you may soon have a lower cost option. You’re also probably a tool. [AP via Boston.com]

* Can introverts be solo practitioners? It’s an interesting question, but since Growth is Dead (affiliate link) notes that even rainmakers are tragically lacking in sociability, it’s likely that most lawyers across firms are introverted. [Lawpolis]

* St. Louis University Law School has taken over and refurbished an old building in downtown St. Louis. See, it’s possible to run a law school without spending money on MOAR BUILDINGS! [Urban Review STL]

* A poem about CLE. Wait, are there people not doing their CLE online? [Poetic Justice]

* How to pick a good divorce lawyer. Done. [Huffington Post]

* Matthew Martens, the senior SEC attorney who ran the “Fabulous Fab” trial, is leaving the agency. Possible landing spots for Martens include Kirkland & Ellis; Paul Weiss; WilmerHale; Latham & Watkins; and Cleary Gottlieb. [Wealth Management]

* A judge in Kentucky moonlights as the PA announcer for high school football games. He’s also blind. Eschewing the obvious “he still sees better than the refs” joke, my question is why isn’t it just more efficient to make his spotter the PA announcer? Video after the jump…

double red triangle arrows Continue reading “Non-Sequiturs: 09.30.13″

* Even at the top of the in-house food chain, women lawyers are still paid less than their male counterparts. But hey, at least they’re not being forced to cry poverty like their in-house staff attorney brethren. [Corporate Counsel]

* Neil Barofsky, the former King of TARP in the United States, is making the move to Jenner & Block, specifically because as opposed to all other firms, “Jenner took the side of really getting to the truth of the matter.” [Reuters]

* Luxury fashion is fun: four Biglaw firms, including Cleary Gottlieb, Cravath, Torys, and Proskauer Rose, all took Tim Gunn’s mantra to heart to make it work for the $6 billion sale of Neiman Marcus. [Am Law Daily (sub. req.)]

* If you want to try some lawyer, we hear that they taste great when poached this time of year. Speaking of which, Troutman Sanders just reeled in three attorneys from Hunton & Williams. [Richmond BizSense]

* Law schools in the Dakotas are renovating their buildings in the hope of enrolling more students. Luckily, South Dakota has that sweet indentured servitude plan. [Prairie Business; National Law Journal (sub. req.)]

* If you’re thinking of applying to law school, here’s a plan of attack for the month of September. That’s right, friends, you can start gunning right now! [Law Admissions Lowdown / U.S. News & World Report]

* Are you ready for some tax law?! The NFL and other professional sports leagues might lose their nonprofit status if new tax reform legislation makes it through the House and the Senate. [Businessweek]

One Liberty Plaza: a tower of dark secrets?

It’s official: Cleary Gottlieb is no longer boring. The elite and esteemed firm is now exciting as well.

In the past few months, Cleary has generated enough drama to fuel a law firm soap opera — think “All My Associates” or “The Biglaw and the Beautiful” (on second thought, save the latter title for Davis Polk). Cleary has witnessed a mysterious partner departure, support staff vanishing into the ether, and a summer associate dismissed due to his disturbing past.

Yesterday, the drama at One Liberty Plaza continued. A terminated employee rose from the cyber-grave to haunt the living — before he was electronically exorcised by the powers-that-be….

double red triangle arrows Continue reading “Summer Drama At Cleary Gottlieb”

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