It’s always a little jarring when someone uses a big news event to bore down deeper into their own bizarre area of interest. Take, for instance, the Newtown massacre. While most news organizations were digging deep into the social, psychological, and political ramifications of the horror, ESPN reported on what it all meant to Jimmie Johnson. Or Rick Pitino’s stance on gun control. A White Sox relief pitcher made a trip to Newtown, and ESPN was there. Now, I don’t begrudge ESPN’s attempt to report the massacre through the prism of sports. The combination of seemingly disparate news elements sometimes yields interesting insights. But sometimes it just yields one more story about stock car racing. So it goes.
Now that all of the introductories are dispensed with, we can get to the question that’s been nagging all of you for an entire week. Or more!
What does the recent unpleasantness in Ukraine have to do with law firm rankings? And which Biglaw firms have the best presence in Ukraine? I’m glad you asked…
* SCOTUS seems divided over its greenhouse gas regulation case. Just remember, justices, there’s “no such thing as greenhouse gas,” and if you think there is, you can “go f@ck yourself and die.” [Legal Times]
* DLA Piper, Fenwick & West, and William Fry are advising on the King.com (aka Candy Crush) IPO. Cool. Know that the public will refuse to invest until those damn chocolate blockers go away. [The Lawyer]
* “Guys like them are the reason people hate lawyers.” When your lawyers do you this badly, you end up living in one of their homes as part of a settlement. Of course this happened in Florida. [Sun Sentinel]
* If you’re in the market for an apartment, we hear Brooklyn Law School just sold a bunch of its student housing to a real estate developer. Per the dean, the school is now so small the apartments were unnecessary. Yikes. [Brooklyn Daily Eagle]
* Amanda Bynes took a plea deal on her DUI charge. She’ll serve three years of probation and pay a fine. Maybe when she’s done, she’ll pull a Lohan and appear naked in a movie. Young men can hope. [CNN]
* As if law schools aren’t charging enough, they also absolutely ravage students on casebook prices. It doesn’t have to be this way. [PrawfsBlawg]
* Who’d have thought it would be this hard to define a pig? [Modern Farmer]
* If you aren’t following DLA Piper’s boss Sir Nigel Knowles on Twitter, then… you’re lucky. [Legal Cheek]
* The vice president of the Constitutional Accountability Center weighs in on Judge Wright Allen’s marriage equality decision from the perspective of a gay, married Virginian. [Pilot Online]
* See, it’s not just lawyers who get annoyed when TV doesn’t live up to the realities of the profession. Political communications professionals can get pretty irked by House of Cards. [Ditto Public Affairs]
* A circuit judge just seized control of a lower court’s docket, setting restrictions on a judge’s ability to hear domestic violence cases after finding a repeated pattern of improperly blowing off these matters. It may be the Benchslap-Heard-Round-the-Nation since the slapped jurist is also the president-elect of the American Judges Association. [Detroit Free Press]
* Secrets secrets are no fun, secrets secrets hurt someone: Chief Justice Roberts named two judges to two secret courts. Congrats to Judges Boasberg and Tallman. [Legal Times]
* Bankruptcy just got a lot more fabulous. AG Eric Holder announced that the government would extend recognition of same-sex couples in federal legal matters. [New York Times]
* With reports of firms’ financials beginning to trickle out, partners are getting anxious. No one wants to be the next Dewey — or the next Gregory Owens. [Am Law Daily]
* This is the second year in a row that Greenberg Traurig has posted financial declines. Perhaps the firm started its lower pay, non-partner track residency program for a reason. Something to think about. [Daily Business Review]
* “It’s our duty as partners to help.” Law students articling at the recently dissolved Heenan Blaikie are learning a lesson in Canadian collegiality. The firm is trying to help them get new jobs. [Montreal Gazette]
* Speaking of Heenan Blaikie, we’re hearing chatter that the firm’s talks with DLA Piper may be in trouble. HB says the talks they’re off, but DLA says they’re ongoing. Hmm, that sounds dramatic. [WSJ Law Blog]
* “It’s a very L.A. thing. We’ll see how long it lasts.” If you had to choose, you’d probably go to Dumb Starbucks over Starbucks. Order a Dumb Frappuccino before they get a C&D letter. [Los Angeles Times]
About two years ago, in May 2012, Dewey & LeBoeuf filed for bankruptcy. It was the largest law firm bankruptcy in the history of the United States. Shortly thereafter, industry insiders began to speculate as to when the next big firm would fold. In June 2012, our own Mark Herrmann suggested that it was a “near certainty that a firm [would] collapse within the next two years.”
Lo and behold, he was correct, for it was just last night that another embattled Biglaw firm decided to close its doors. Perhaps the loyal employees clinging to this firm’s carcass should have been better prepared for something like this, since it was preceded by waves upon waves of partner defections and talks of a “major restructuring,” likely due to financial problems, among the firm’s leaders.
You’ll want to keep reading, because this is the largest law firm to ever fail….
* Morgan Stanley will settle with the Federal Housing Finance Authority for $1.25 billion to resolve a suit over the sale of craptastic mortgage-backed securities. It’ll be the third-largest settlement of its kind. [DealBook / New York Times]
* “Sometimes the voters and the legislature get it wrong. So, we have you.” With those bold words from Ted Olson, the federal judge overseeing the challenge to Virginia’s ban on gay marriage has promised a speedy ruling in the case. [Washington Post]
* DLA Piper announced changes to its leadership, naming Roger Meltzer and Nigel Knowles as Earth’s co-chairs. We look forward to news on the DLA Venus and Mars outposts. [WSJ Law Blog]
* In other DLA Piper news, it looks like the one of the world’s largest firms may be coming to the rescue of a Canadian Biglaw firm in financial trouble. Welcome aboard, Heenan Blaikie lawyers! [Globe and Mail]
* Dean Michael Fitts of Penn Law School is leaving his position after 15 years to take a position as the president of Tulane University. There’s no word yet on who’ll serve as interim dean. [Daily Pennsylvanian]
* In case you haven’t heard about it yet, a former Roger Williams Law student was involved in an all-day standoff with police after threatening school administrators. We may have more on this. [ABC 6 News]
* An NSA review panel thinks the Chief Justice of the United States shouldn’t be the only one appointing judges to the FISA Court. We imagine John Roberts is pulling a Stuart Smalley. Don’t worry, you’re good enough. [Blog of Legal Times]
* Scott Bloch, former head of the Office of Special Counsel in the GWB administration, allegedly hated gay staffers so much he shipped them to Detroit. That settles it: he really hated them. [Blog of Legal Times]
* Sen. Elizabeth Warren proposed a bill that would ban all private employers — except the government — from running credit checks on new hires. Let’s go rack up some credit card debt! [National Law Journal]
* Law schools are facing enrollment problems, but Boalt Hall and Santa Clara Law saw the size of their entering classes rise. Flooding the entry-level job market continues to be celebrated. [The Recorder]
* “Yes — I do share nose candy with these girls. For free. For my personal use, OK?” Pro se litigants say the darndest things. Good thing this guy got an attorney before things got worse. [Albany Times Union]
The Dewey nightmare continues for non-settling partners.
Many former partners of now-defunct Dewey & LeBoeuf signed up to join the “Partner Contribution Plan” that was hatched during the law firm’s bankruptcy case. The gist of the Plan: pay a certain sum (which varied from partner to partner) into the pot, and win a release from any future Dewey-related liability.
The main appeal of the Plan was finality, a way of putting the entire Dewey debacle in the rearview mirror. And that appeal was strong: more than 400 ex-partners agreed to the Plan, which freed them up to focus on their post-Dewey lives at new firms.
But a minority of former partners refused to sign on. A lawsuit filed last week against one ex-partner reveals what lies in store for them….
Would you rather be a great lawyer or be perceived as being a great lawyer?
For many people, I think the answer to that question varies over time: At age 30, you’d rather be a great lawyer. At age 60, you’d rather be perceived as being a great lawyer.
Because, over time, your reputation may come to track reality. If you’re perceived as great when you’re 30, but you’re actually no good, that truth may out over time. As you age, your reputation may catch up with you.
By the time you’re 60, your professional horizon will have shortened, and it’s less likely that the world will unearth your incompetence. If you’re perceived as being a great lawyer when you’re 60, you may well make it to retirement unscathed.
What of law firms? Would you rather that your firm be great or be perceived as being great?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Today’s post is written by Michael Allen, the Managing Principal of Lateral Link, who focuses exclusively on partner placements with Am Law 200 clients.
Near the entrance of the Calyon Building, the previous headquarters of Dewey & LeBoeuf, lies Jim Dine’s “Looking Toward the Avenue,” a triumvirate of headless statues inspired by the Venus De Milo. Where lie the visages of this homage to the prototypical form of Venus and furthermore, in the aftermath of Dewey, where have the pieces of this former empire landed?
Since May of 2012, there have been numerous articles inciting gossip and foretelling the troubles of Biglaw, but few have offered a retrospective of the overall trends in lateral moves from Dewey since the closure of the firm. The “largest winner” of the Dewey sweepstakes was Winston & Strawn, which added 23 partners (about 11% of those who moved in the final month), including Jeffrey Kessler, a titan of antitrust law who has represented every players’ union in the “big four” sports in the United States. Approximately seventy lawyers followed Kessler’s group.
Which other firms fared well in picking up Dewey lawyers?