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…
If you want to get into Biglaw, it's all about the Ivy.
It’s a list that should mean more than it does: which law schools are best at sending their graduates to large law firms, aka Biglaw?
There are a lot of reasons this question isn’t asked more often: law schools don’t like their supposed professional value to be reduced to placements at top firms, prospective law students don’t like to think that in three years they’ll have a “Biglaw or bust” mentality, and Biglaw placement lists undervalue clerkship appointments (which often turn into Biglaw gigs a year or two later). Intellectually, it feels small-minded to put a heavy focus on whether or not a school sends a high proportion of its graduates straight into Biglaw after graduation.
Except that in a world with ever-rising tuition costs, the ability to place students in Biglaw is more important than ever. Biglaw jobs are pretty much the only ones out there that pay enough money for graduates to be able to manage their ridiculous debt loads. And there are fewer Biglaw jobs than before. Top law schools should be able to place well in Biglaw, or they should be offering tuition rebates to students.
If the kids who are thinking about going to law school refuse to pay attention to life’s realities, maybe the parents who are pushing their children into the legal profession will take note. Here are the top schools for placing in Biglaw. If your kid isn’t getting into one of these schools, maybe you should reconsider co-signing their loans…
When George Washington Law students signed up for the program a month ago — just in time to be counted as “employed upon graduation” — they were told that the stipend would be $15 per hour for a 35-hour work week. But Dean Berman decided that GW Law grads needed more of an incentive to find paying work, and yesterday he announced a plan to cut the stipend by a third, to $10 per hour.
Last night, after an outcry from students (and some bad press), Dean Berman changed his mind and decided to restore funding to the $15 per hour level.
Good times! There’s nothing quite like having to fight and beg for a one-year, $15-an-hour job after paying $45,750 per year in tuition.
In his letter reversing his decision, Berman has recast the reasons for wanting to cut the funding in the first place. I hope the class of 2013 is paying attention, because in the high likelihood that funding is cut next year, this is the justification you should expect to see….
* It’s not just media groups that are urging the Supreme Court to allow live coverage of the announcement of the ACA decision. Senators Patrick Leahy and Chuck Grassley of the Senate Judiciary Committee have joined the club. [Blog of Legal Times]
* Dewey know whether this failed firm’s former partners will be settling their claims any time soon? Team Togut hopes to reach a deal in the next six weeks, and claims that cooperation will absolve D&L’s deserters of all future liability. [Am Law Daily (sub. req.)]
* From Biglaw to the big house: former Sullivan & Cromwell partner John O’Brien, who is serving time for tax evasion charges, has been suspended from practicing law in New York. [Thomson Reuters News & Insight]
* A Stradling Yocca partner and his wife, a Boalt Hall graduate, stand accused of planting drugs on a school volunteer who supervised their son. Looks like the only thing they’re straddling now is jail time. [OC Register]
* Dharun Ravi was released early from jail yesterday after completing a little more than half of his 30-day sentence. Funny how bad behavior got him into the slammer, but good behavior got him out of it. [CNN]
* “Why would somebody so smart do something so stupid?” Kenneth Kratz, the sexting DA from Wisconsin, claims that the answer to that question is an addiction to sex and prescription drugs. [Herald Times Reporter]
* Jay-Z’s got 99 problems and this bitch is one. He’s been accused by Patrick White of plagiarizing parts of his own best-selling memoir, “Decoded,” and slapped with a copyright infringement suit. [New York Daily News]
The conceit of every Republican administration of my lifetime has been that poor people wouldn’t be so poor if they just “worked harder.” The dismantling of the welfare state was fueled by the notion that certain people needed more incentive to find work — as if being on public assistance somehow needs to be more hardscrabble and humiliating in order to really help people.
Now, it seems the same kind of flawed and sheltered logic will be coming to a law school near you. But the kicker is that it’s the students employed by the school, in programs designed to help the school game the U.S. News rankings and fleece the next generation of paying 1Ls, who are being told that they need more of an incentive to find employment.
We’ve got a school scolding students for being too comfortable in the post-graduate employment program the school itself designed to avoid telling the truth to U.S. News….
* Dewey know how many professional services firms it takes to wind down a Biglaw firm? According to new D&L bankruptcy filings, there are at least eight of them — including Togut Segal & Segal, a leading law firm that reportedly charges $935 an hour. [WSJ Law Blog]
* Despite Barack Obama’s pledge of support, Brett McGurk has withdrawn his name from the White House pool of ambassadorial candidates amid much salacious controversy. Apparently this man knows a lost cause when he sees one. [Washington Post]
* So many DOMA lawsuits, so little time: what’s happening in the six major cases on this statute? The majority are in various stages of appeal, and the world at large is currently awaiting a cert filing to get a final take from the Supreme Court. [Poliglot / Metro Weekly]
* LSAC will now vet incoming law students’ GPAs and LSAT scores. The ABA won’t do it because they need the insurance policy of someone else to blame in case something happens to go wrong. [National Law Journal]
* Stephen McDaniel’s lawyers are expected to ask a judge to reconsider his $850K bond today. If he’s released, it seems like there’s a high probability that he’ll become an ATL commenter. [Macon Telegraph]
* Remember the legal fight over the Tyrannosaurus bataar? Well, now Preet Bharara, the U.S. Attorney for the S.D.N.Y., is on the case, and he wants it to be seized for return to Jurassic Park Mongolia. [New York Observer]
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!