* 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]
As more and more people discover that law school is not the “get rich quick” scheme that they once thought it was, applications continue to plummet. As of late January, law school applications were down 13.7 percent from where they were in 2013. The loss of student revenue is killing the bottom line at some law schools, and members of their administrations don’t like it one bit.
These ivory tower inhabitants seem terrified and are reacting accordingly, having been forced to deal with the dearth of applicants and enrollees in all sorts of ways. Some law schools are doing the right thing and lowering tuition in the hopes of luring students to their once hallowed halls.
Others are hacking and slashing away at their faculty and staff, just like law firms. First came news of the potential purge of junior faculty at Seton Hall (which was fortunately averted). Next came the staff massacre at McGeorge. Then Thomas Jefferson started handing out pink slips, and all hell broke loose.
Which law school is the latest to announce a possible pruning of its ranks? We’ll give you a hint. This law school is located in New York, a state with 15 law schools to choose from, several of which have been sued over their allegedly deceptive employment statistics…
(Please note the multiple UPDATES added to this post.)
* California is eyeing a referendum to allow affirmative action considerations to be employed in college admissions for the first time in almost 20 years. Surely the same people who passed Prop 8 will be enlightened enough to do something proactive about systemic discrimination. [Chronicle of Higher Education]
* The art of negotiation and terrible cigars. [Katz Justice]
* And I joined Mike Sacks and Jessica Mederson on Legalese It! today. So check out our rousing discussion of the State of the Union v. Supreme Court, Foxy Knoxy’s extradition fears, and California’s decision to keep disgraced journalist Stephen Glass out of the legal profession. Video below… [HuffPost Live]
* Which Supreme Court justices missed out on the State of the Union address last night? Three of the usual suspects (Scalia, Thomas, and Alito), plus Justice Sonia Sotomayor. RBG was there most of the time, except for naptime. [Legal Times]
* You’re doin’ fine, Oklahoma! Oklahoma O.K.! The Tenth Circuit announced it’s going to fast-track Oklahoma’s same-sex marriage appeal, and it’ll be heard by the same panel of judges presiding over a very similar appeal from Utah. [News OK]
* The American Legal Institute just named Ricky Revesz, the former dean of NYU Law School, as its new director. He’ll be “clarifying, modernizing and improving the law,” just like he kind of / sort of did with NYU’s 3L curriculum, but not really. [National Law Journal]
* Law students, say hello to the Immigrant Justice Corps, a job opportunity brought to you by Chief Justice Robert Katzmann of the Second Circuit. Hey, the pay is pretty decent for public interest. [New York Times]
* The results of the latest Law School Survey of Student Engagement reveal to us 1Ls are morons. Seventy percent of them are thrilled with career services, but only 45% of 3Ls feel the same way. [WSJ Law Blog]
* She’s no George Zimmerman: Jodi Arias has a racked up a legal tab of more than $2 million, but because her artwork isn’t as hot as she is, the bill will be footed by Arizona taxpayers. [Associated Press]
Let me explain how this started. The American Association of Law Schools had its annual conference this weekend here in New York. On Saturday, I spoke on a panel about law school rankings with Bob Morse (U.S. News), Karen Sloan (National Law Journal), Katrina Dewey (Lawdragon), and Dimitra Kessenides (Bloomberg BNA). It was a fun and lively discussion in which we explained the different things we were trying to capture with our law school rankings, and how law school rankings are used and should be used. My plan was to cover the conference on Friday, speak on Saturday, then get drunk on Saturday night to make up for not being able to get drunk on Friday night.
But there was a huge snowstorm in NYC on Thursday night and I did not have the will to pull out my dogsled and make it to midtown on Friday morning. Instead, I followed the conference via various Twitter feeds of people who did make it. This was surprisingly effective (the internet is an amazing thing). Instead of being stuck in one room, I was following reports from many. So I was just sitting, warm and cozy in my basement, when this tweet went up:
Dean: Tuition costs not only reason grads in debt. They don’t apply for scholarships, drive nice cars. #aals2014
This isn’t the first car-related foolishness we’ve heard from defenders of law school; the former president of the ABA told law students that they should sell their cars to pay for law school. And this needs to stop. There are too many people in charge of law schools who remember tuition costs from when they went to school, which is beyond irrelevant.
Since some of these guys appear to be too addled to do the math, I’ve come up with something easier: pictures. I want you to show us what kind of car you drive in law school (or what kind of car you drove). Send us your jalopy; hell, if you have a sweet ride, send that too (subject line “Law School Car”). I would love to see if any of these cars could even put a dent in the current price of law school tuition.
Some of our Twitter followers were more than happy to start us out….
* Great music can inform great persuasive speaking. That’s why Larry Tribe always cranks up YYZ on a loop when prepping for an appearance. [Katz Justice]
* If you’re a law student planning for your summer job, this is an absolutely can’t-miss guide. “Be Fashionably Late To Everything To Demonstrate Your Value.” If only this had been around when I was a tyke. [BigLaw Rebel]
* If you’re a 1L thinking about what to do this summer, consider applying for a 1L Diversity Fellowship at MoFo. Maybe don’t follow the last item’s advice if you go for this. [MoFo (disclosure: ATL advertiser)]
* The attorney for convicted Steubenville rapist Ma’lik Richmond probably should have just kept his mouth shut. [Jezebel]
* Who needs domestic surveillance when the next generation helpfully posts all their crimes online. [IT-Lex]
* With courts in Utah striking blows for gay marriage and tolerance of religious polygamy, Professor Edward Zelinsky asks if it may not be time to junk the whole civil marriage thing altogether. [Oxford University Press Blog]
* Congrats to Forbes’s 30 under 30 for law and policy. As Orin Kerr noted on Lat’s Facebook page, “I am looking forward to the Forbes ‘Top 10 Lawyers Under 10.’” [Forbes]
* This isn’t a law school, but this is probably what those deans did over the break. Video after the jump…. [TaxProf Blog]
The guy in today’s story didn’t dress up like Gumby, but it’s still an amazingly stupid disguise.
* Man tried to rob a convenience store so he could go back to prison. And he almost screwed that up… [KMOV]
* The CIA’s former lawyer explains how torture came to be a go-to national policy. According to John Rizzo, author of the forthcoming Company Man (affiliate link), George W. Bush basically had no conception of what was going on, which makes a lot of sense anyway. [The New Yorker]
* Brooklyn Law’s Dean Nick Allard makes predictions for law schools in 2014. “[P]eople will look back at 2014 and say it marked the start of the new world of law: a renaissance where the respect and reputation of lawyers and law schools began to rise by measurable benchmarks.” Go ahead and laugh, I’ll wait. [TaxProf Blog]
* Paul, Weiss picks up tax partner Scott Sontag from Weil Gotshal. (Congrats to both firms, by the way, on tying for the #9 spot in our list of top-ranked law firms for 2013.) [Paul, Weiss]
The Association of American Law Schools’ annual conference starts today. I’ll be there tomorrow and I’ll be speaking there on Saturday about law school rankings.
AALS is a giant mixer for law school deans. I don’t like to go, because I don’t like being yelled at or assaulted, but it’s a great conference. You’ve got to remember, law deans are not afraid of the American Bar Association or the Department of Education. The so-called “regulators” of legal education don’t do much actual regulating of established programs. Instead, law deans are afraid of their faculties. Law deans are afraid of law faculties the way kings are afraid of their generals.
Deans are not afraid of their students. Student happiness has nothing to do with whether law deans get to keep their jobs. I don’t expect that a new law dean will care about an impolite greeting from one of his new students. But still, if I see this guy at AALS I’m going to give him a hug….
* The Tenth Circuit will not be blocking same-sex marriages from occurring in Utah, so the next stop will be Supreme Court intervention. Sorry, but we have a feeling that Justice Sonia Sotomayor isn’t going to be too helpful with that. [MSNBC]
* Winston & Strawn, if you’re overbilling on pro bono motions and you want fees, you might want to be more descriptive. Please tell this judge what “preparation for filing” even means, and why you spent more than four hours doing it. [New York Law Journal]
* This judge felt she was “being played with,” so she took a man’s kid away from him during Christmas. Now a judicial ethics commission is showing her that it’s not one to be played with. [Texas Lawyer]
* Yay, happy news! Chapman Law’s associate dean for student affairs really takes her job responsibilities to heart. She’s performed several wedding ceremonies for both students and alumni. [National Law Journal]
* The Indian diplomat who got strip-searched was arrested over a silly mistake, says her lawyer. It’s too bad that a lack of reading comprehension can result in having to bend over and spread ‘em. [Bloomberg]
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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