Since 1955, Fortune magazine has published the Fortune 500, a comprehensive ranking of the top closely held and public corporations in the United States as ranked by gross revenue. In the past, we’ve spoken about other Fortune magazine rankings, like its annual list of the 100 Best Companies to Work For, where top law firms have been included year after year.
But it seems that lawyers have pervaded the Fortune 500 rankings as well, because some of the biggest companies in the nation are headed by law school graduates. As we noted in Morning Docket, of the 498 CEOs named on this year’s list, 46 of them went to law school.
But which schools did they attend? Let’s find out….
One of the nice things about gunners is that they can’t help themselves. You never wonder, “Oh, is that dude a self-important gunner or a reasonable person?” Gunners like to out themselves. That’s why you can play Bingo with them.
Earlier this week, a tipster sent us in the Facebook status of a law student who feels undervalued by his school’s system of class rank. The school will tell you if you are in the top 10%, but won’t go higher than that (i.e., if you’re actually in the top 5%, it’ll still just say top 10% on your transcript).
You can imagine that fact bothering a number of people in the fiercely competitive environment of law school. But bitching about it on Facebook has that fun head-up-your-ass aroma that makes gunners so special….
* Pay up or shut up: Dewey former partners need to worry about getting our kneecaps busted by the banks that loaned us money to fulfill our capital contributions? [Am Law Daily (sub. req.)]
* Senate leaders reached a tentative deal to keep student-loan interest rates at 3.4%. Too bad this only applies to undergrads — law students are still left holding the bag. [Wall Street Journal]
* Your mom probably told you not to be a tattletale, but evidently that kind of behavior really pays off in court. Adam Smith, formerly of Galleon, was sentenced to only two years’ probation for his “very substantial” aid in Raj Rajaratnam’s insider trading trial. [DealBook / New York Times]
* Forty-six CEOs on the 2012 Fortune 500 list went to law school, but only four hold degrees from schools outside the U.S. News Top 100, and just one went to an RNP school. Yikes. [U.S. News & World Report]
* Was this Nova Law professor “mentally deranged enough to engage in a campus shooting rampage”? That’s apparently what members of the administration thought when they fired him. [National Law Journal]
* Anna Gristina, the accused “Millionaire Madam,” was released last night on $250K bond after spending four months behind bars. Looks like it’s back to the world’s oldest profession for this soccer mom. [Reuters]
Law school deans should bet a dollar on whether or not change the name of a law school makes more people come.
And the band plays on. No matter what happens in the economy. No matter what kind of evidence we get that the market for legal jobs is totallyin the tank. No matter what, law schools continue to expand and continue to find new ways to convince more people to spend a lot of money getting an education that might not lead to employment.
Of course, I’m talking about something new and annoying Cooley did, because you basically can’t have a conversation about what is wrong with law schools anymore without referencing some kind of fresh horror enacted by the people who run the Thomas M. Cooley Law School.
But this impulse towards MOAR LAW STUDENTS obviously isn’t just a Cooley problem. Even though some schools that are already in the law game have thoughtfully looked at reducingclass sizes, there are always going to be schools and universities eager to provide prospective law students with educations they can waste money on.
Time for some stories about law school acquisitions, a plague that has now made it all the way down to Texas…
It's their world and we're all just playing in it.
* This is a great article on why the Supreme Court doesn’t leak, while more important institutions, like our national security apparatus, leak like a freaking sieve. [New Republic]
* Most law professors think the Affordable Care Act is constitutional. Most law professors think the Supreme Court will overturn the ACA anyway. ARE YOU NOT ENTERTAINED? [Bloomberg]
* And now for some SCOTUS thoughts from the amazingly amorphous Mitt Romney. Look at his works in equivocation, ye mighty, and despair. [Washington Post]
* You know, I don’t know how they afford this stuff, but having an inalienable right to “paid vacation” really feels like the kind of European invention we should be emulating. Good ideas can come from anywhere, folks. [Legal Blog Watch]
* Letting students sit for the bar exam after their second year but then making them come back to school for an even more obviously useless third year is a great way to make somebody have a total mental dissociative break. Just imagine calculating how much money you’re being forced to waste while you sit there in a 3L seminar called “Law and Ceramics.” [Faculty Lounge]
* Oh, I like this. The little Democrat in me can’t help but like this: a “global” financial transaction tax. Mmm… there’s nothing like the smell of global redistributive fairness. [Overlawyered]
* Jonathan Turley seems hurt that Ann Althouse and other conservative academics acted in a way that shows “we have lost the tradition of civil discourse in this country.” Yeah, umm, Professor Turley, perhaps you didn’t read the footnotes, but here on the internet we don’t have a tradition of civil discourse. We do have a tradition of ad hominem attacks, hyperbole, and pictures of cats. [Jonathan Turley]
If you sent a document to the Engineers in Prometheus in .docx, they would say, 'Kill the one who expects us to convert.'
When most people call lawyers “paper pushers,” they mean it in a pejorative way. But pushing paper around correctly, in an organized and detail-oriented fashion, is a big part of a lawyer’s job. Some might say it’s the most important part of the job. The best lawyers have an attention to detail that can only be matched by research scientists and portrait artists.
If you can’t bring that maddening, borderline obsessive-compulsiveness to the little things, you might not be able to do things like become an awesome Supreme Court clerk — or even make it onto your school’s law review. That’s okay; you still might have other talents. But good lawyers can follow instructions (or afford secretaries who can follow instructions).
It’s an important lesson that three kids who got booted from their school’s law review competition just learned the hard way…
Free speech is a complex area legally, but it’s important to recognize that there are distinctions between one’s ability to express an opinion versus one’s ability to use F.C.C.-regulated airwaves to do so, and also one’s ability to engage in speech versus one’s ability to engage in slander.
This kid should buy the Jaguar from Mad Men and call it a day.
You know, at some point you’ve got to stop trying to help people save themselves and instead just sit back and watch the tremendous destruction.
The Washington Post runs an advice column for people trying to save money. This weekend a distressed wife of a soon-to-be 3L had her question answered. It appears that her husband is determined to pursue a destructive and financially ruinous path, and there’s nothing she can do to make him think reasonably.
* It was Gay Pride weekend across the country. Practically speaking, for most people this meant lots of unexpected traffic jams and random glitter bombings. Evan Wolfson, a prominent attorney, was the Grand Marshal of the Chicago Pride Parade. [Chicago Sun-Times]
* Will today be the day we get the Obamacare decision? Who knows. In the meantime, here’s an interview with the folks behind the wonderful SCOTUSblog. [Forbes]
* The judge accused of elder abuse, in Alameda County, California, is still on the bench, but he has been relegated to handling small claims court. [Mercury News]
* An owner of the Miami Heat has sued Google and a blogger over an “unflattering” photo. I guess once you win an NBA championship, it leaves you with a lot of free time for other important pursuits. [CNN]
Should we pass around the collection jar for graduates, or their law schools?
Have you ever noticed that law schools claim it’s incredibly hard to find all of their recent graduates for the cause of transparency, but when it comes time for alumni giving, they always seem to know where everybody is?
The ink isn’t yet dry on their diplomas, but members of the class of 2012 are already being hit up for money by their law schools. No, we’re not talking about collections on the debts they still owe (those phone calls don’t start for a year). But law schools are already up with alumni giving campaigns aimed at recent graduates.
I used to make fundraising calls for my college and I know that conventional wisdom says that if you get people to give even a little bit early on you’re setting up a lucrative lifetime relationship with the graduate. But I think conventional wisdom needs to be thrown out of the window when you are dealing with recent graduates who don’t have jobs and do have a lot of debt.
Asking these kids for money right out of the gate isn’t a way to make them feel a connection with the school, it’s a way to further solidify how much they regret borrowing so much money to go to law school in the first place…
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: firstname.lastname@example.org.
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.
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.