Above the Law

Recent Headlines from Above the Law

 

Want to see what it looks like when a fourth-year Weil Gotshal associate plans to marry a family law practitioner from a small firm? It looks like it’s going to rival the epic display of elegance and class that is the upcoming Kimye wedding.

Please save the date for the “Boss Wedding,” which is what they’re calling this dignified affair…

double red triangle arrows Continue reading “Lawyers Really Class It Up In This Insane ‘Save The Date’ Video”

* The federal judiciary is hiring for staff and public defender positions lost during the government’s sequestration throughout the better part of last year. Ready, aim, fire those résumés! [Legal Times]

* New York Biglaw firms always manage to find their way to the top of the Am Law 100 rankings. When all’s said and done, being so close to Wall Street definitely has its perks. [Bloomberg Businessweek]

* Absolutely no one should be alarmed about the fact that Kasowitz Benson’s profits per partner have dropped by 15 percent — well, no one but the equity partners, that is. Have fun with that. [Am Law Daily]

* The managing partner of Jacoby & Meyers is worried people will think his personal injury firm is going under, not Jacoby & Meyers Bankruptcy. Either way, those commercials won’t die. [New York Law Journal]

* A professor at George Mason University Law was pepper sprayed IN THE FAAAAAACE by an unknown assailant in his classroom yesterday afternoon. We’ll obvious have more on this story later. [ARLNow]

* La Verne is the first law school to offer flat-rate tuition. There will be no scholarships and no discounts. Students will pay $25K/year, nothing more, nothing less. This is, dare we say, wise. [National Law Journal]

* “Passion over pension.” Mekka Don, the Weil Gotshal corporate lit attorney turned rapper, just released his first CD, and it’s all about leaving Biglaw to follow his dreams. Go buy it here (affiliate link). [MTV]

* Lawyers from top New York City firms like Skadden, Proskauer, Stikeman, Weil Gotshal, Kaye Scholer, and Bailey Duquette took to the ice to compete for the Lawyers’ Cup. The team with Canadian imports won, obviously. [Forbes]

* Andre Bouchard was nominated to replace Judge Leo Strine as Chancellor of the Delaware Court of Chancery. We can only hope he’ll be as outspoken as his predecessor. [WSJ Law Blog (sub. req.)]

* UNC Law has been receiving fewer applications, and perhaps that’s the reason why its acceptance rates have gone up, up, up — from 36 percent to 45 percent — in the last year alone. Yikes. [Daily Tar Heel]

* A woman alleges her Uber driver “fondled [her] legs, groin area and breasts” as she tried to give him directions. That extra customer service is what makes it cost more during peak times. [Chicago Tribune]

* A watch repairman was so pissed about this Yelp review he sicced his lawyer on the man who handed out the two-star report. Of course his lawyer’s one-paragraph demand letter barely makes sense. [Gawker]

Kevin Trudeau

* “How many years would you put a TV pitchman in jail? 3 years? 5 years? Don’t answer yet…” [Sentencing Law and Policy]

* So there’s a sex tape of Chris Christie. Except it isn’t him. They should have known Christie could never be a porn star. You can’t get far in the porn biz by saying, “This lane is closed.” [Gawker]

* Dolt Duped By Date Sues OKCupid. [NY Post]

* Patents are a terrible measure of innovation. Hold on, I defy you to besmirch the Anti-Drowning Hat. [Concurring Opinions]

* Wage theft in fast food shouldn’t come as a surprise, but the role played by the franchise model in creating labor law violations is intriguing. [Lawyers, Guns & Money]

* A gathering of business development tips, including shout outs to Anonymous Partner and Mark Herrmann. [Corporette]

* What better qualification to challenge for the Vegas DA’s job than to be prosecuted by that office days before the election? [Las Vegas Law Blog]

* A Baltimore lawyer aggressively used the habeas process to release mentally ill girls to serve as personal slaves to the wealthy. [Slate]

* Weil’s Business Finance & Restructuring team is putting together a March Madness bracket based on quotes from bankruptcy decisions. Let the excitement wash over you. Having not seen the bracket yet, I’m reserving judgment on what an awesome array of bankruptcy quotes would look like. [Bankruptcy Blog]

* Kevin O’Keefe, who presented on my panel at our Attorney@Blog conference, left all of us touched with his tribute to Above the Law. [Real Lawyers Have Blogs]

Congratulations to Weil Gotshal on securing a significant role in the big Grupo Corporativo Ono / Vodafone deal. The firm is representing Ono’s principal shareholders, a group of private equity firms, in the $10 billion transaction. This comes not long after news of Weil’s representation of Facebook in the company’s $16 billion acquisition of WhatsApp.

At the same time as it handles eleven-figure deals, Weil Gotshal continues to lose partners. Are these defections wanted or unwanted by Weil? If the latter, how significant are they?

Let’s find out which partners are leaving, and where they’re going….

(Please note the UPDATE added to the end of this post.)

double red triangle arrows Continue reading “As The Weil Turns: The Revolving Door Spins Again”

We’ve all been so transfixed by the Patton Boggs meltdown that we’ve temporarily lost track of some other law firms that are facing challenges right now. The most prestigious name on the list: Weil Gotshal & Manges.

After last summer’s layoffs and partner pay cuts, WGM experienced a rash of partner defections. Some of these were true losses for the firm, but others were chalked up to Weil’s strategy of becoming leaner, more capital-markets-centric, and ultimately more profitable.

Has this revamping of the firm manifested itself in the form of higher partner profits? Not yet. In fact, in 2013, revenues and profits at Weil fell….

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* It’s apparently time to pay your fair share. Obama wants to close the pesky tax loophole that’s allowed rich professionals, like lawyers, to get away with being rich professionals for so long. [Legal Times]

* On this episode of As the Weil Turns, we take a look at the firm’s tumbling gross revenue, profits per partner, revenue per lawyer, and headcount. Don’t worry, Weil’s just “repositioning.” [Am Law Daily]

* The American Bar Association released the dirt on 1L enrollment declines at law schools nationwide, and some schools got totally massacred. Pray yours wasn’t one of them. [National Law Journal]

* “[T]hey’d probably make the school year longer and bring the cost up for each year.” We sure hope these pre-law students aren’t right about the dubious cost factor behind the two-year law degree. [The Hoya]

* Who owns the copyright to the Oscar selfie? Does it belong to Ellen DeGeneres, or Bradley Cooper? If you want to get technical about it (and you do, you’re a lawyer), check out this legal round-up. [The Wire]

“But otherwise you’re good to serve on this jury, right?”

* What’s a good excuse for getting out of jury duty? Apparently not “having a heart attack RIGHT NOW!” [Lowering the Bar]

* The hits from the CATO amicus brief keep on coming. They commit a footnote to mocking Chief Justice Roberts. [Election Law Blog]

* The Attractive Convict is suing over the use of her mugshot in banner ads. Your redemption is coming, Scumbag Steve! [IT-Lex]

* David Healey, formerly of Weil Gotshal and currently of Fish & Richardson, is filming a movie based on his earlier book. And it stars Sean Young! That’ll work well. [Times of Sicily]

* Does a public-school donor’s request to thank God in an inscription constitute an Establishment Clause violation? [Chronicle of Higher Education]

* Supreme Court will hear the case of the NC Dental Board’s efforts to limit the teeth-whitening industry to dentists. Will this ruling spell trouble for state bar associations applying a death grip to all legal services? [WRAL]

* Congrats to Weil Gotshal and Fenwick & West for getting in on Facebook’s $19 billion acquisition of WhatsApp, the biggest Internet deal in a decade. [The Recorder]

* In South Carolina, you can get arrested for crimes that aren’t even things any more. Like “failure to return a VHS tape.” [Lowering the Bar]

* Drunk lawyer at heart of alleged insider trading scheme. [Dealbreaker]

* Did LBJ colossally screw up the Supreme Court? [Concurring Opinions]

* Were you curious about who would be on the Mount Rushmore of Tax Law professors? No? Well, here they are anyway. [TaxProf Blog]

* The so-called “trial penalty” is really a myth and empirical data confirms that defendants who reject plea deals and go to trial actually garner a “trial discount.” Yep, prosecutors aren’t overreaching at all. [PrawfsBlawg]

* President Obama called for patent law reform in the State of the Union address. Now we have some insight into what he’s thinking about. [Patently-O]

* Congratulations to Matthew Skinner, the next executive director of the LGBT Bar Association of Greater New York! [LeGal]

Back in December, some associates at Kirkland & Ellis expressed some displeasure about their bonuses. Now, make no mistake, the K&E bonuses still beat the market by a healthy amount; they just didn’t beat the market by as much as they usually do (at least according to some sources; under an individualized bonus system, reactions will vary).

In our bonus post, we wondered about K&E’s financial performance in 2013. Could the firm — which could very well be the nation’s finest law firm — have had a less than stellar year?

Associates might not be the only ones dissatisfied with their compensation. Sources point to a fair number of prominent partner departures over the past few months, in one of K&E’s top practice areas….

double red triangle arrows Continue reading “What’s Going On At Kirkland & Ellis?”

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