I like it when the mainstream media drops by to take a look at the student debt crisis. I’d like to think that, unlike the housing bubble, this impending crisis can be avoided with sensible government regulation and individual actors making smart decisions about their own financial futures.
The government regulation is, strangely, the easy part — Congress will care that younger Americans are being crushed under their own debt load, or it won’t. This seems to me like a non-partisan problem. So if our elected officials get a clue (a pretty big “if”), then perhaps something positive will happen.
Getting individual actors to behave in their own economic self-interest is the hard part. Trust me, I talk to students thinking about going to law school almost every day. These kids seem to be allergic to facts and figures. But maybe with enough media spotlight, families will actually start thinking about how their kids are going to pay off their debts, and behaving rationally.
There was a big article on MSNBC.com yesterday showing just how far we have to go, as a country, to get the student loan crisis under control…
How far are we from getting real answers about the value proposition of going to law school? Pretty far, if you read the New York Times Week in Review. An article by Jacques Steinberg illustrates that researchers don’t even really know if receiving an elite undergraduate education is worth the price.
The Times asks: Is going to an elite college worth the cost? And it comes up with this answer: “It depends.” Thanks NYT. Is mainstream, old media publishing dying a slow death? It depends on how many people want to read articles like this on their Kindles.
Oh, I kid, Grey Lady. It’s not particularly satisfying, but the article provides support for believing whatever it is you believed before you read the article. Do you think that going to the most prestigious school that will accept you is the better long-term choice for your career? Great, you’re right. Do you think that, depending on your family situation, going to a cheaper state school is the right choice for you? Great, right again. Do you think that successful people will succeed? Awesome! The Times likes circles too.
Yay, everybody made the right decision. And since most of the research was done on people who made college choices ten years ago, the ridiculous inflation in the cost of education only makes it more obvious that people should do the right thing — whatever the hell that might be….
This experience has been both profound and humbling. I have been able to reflect on my relationship with the universe and despite the physical incarceration of the past year, it has been incredibly emancipating for all other aspects of my being. Everything I have learned, seen, and lived I regard as invaluable in the journey of my life. I embrace this entire experience as a necessary one in the fulfillment of my future and destiny.
I honestly can’t believe I have to do this, but apparently we need to argue about incest. Last week we told you about the Columbia political science (and adjunct law) professor, David Epstein, who is accused of having a sexual relationship with his 24-year-old daughter.
I’d hoped that most reasonable people would agree that incest is wrong and shouldn’t be allowed. But I’m dealing with lawyers and quite a few homophobes. I wasn’t exactly surprised that commenters made various Lawrence-based arguments and ridiculous connections between incest and gay sex.
And if the commenters are defending incest, you can best believe that Epstein’s lawyer is defending incest too…
In the former case, the Above the Law readership overwhelmingly voted for the 1L to drop out of law school. In the later case, I strenuously argued that the person should go to the funeral and take the LSAT later.
We have updates on both people. It appears that Above the Law readers are more persuasive than I am…
Last week, the people at the Law School Transparency project scored a major victory. They got U.S. News to agree to disclose all of the employment information the magazine collects about law schools, with the release of next year’s influential rankings.
According to stories around the blogosphere, U.S. News rankings guru Robert Morse is even giving the LST people credit for pushing the magazine in this direction. U.S. News, mind you, has more power over law schools than the freaking American Bar Association — but it was influenced by two young guys from Vanderbilt. Check out coverage from the ABA Journal, the WSJ Law Blog, and the National Law Journal (subscription). Major kudos to Team LST!
The changes are good, but they’re not the Holy Grail of law school transparency. U.S. News won’t be collecting any additional information. Schools will still be able to materially misrepresent some of their crucial employment statistics, and U.S. News is not increasing the weight given to outcome-oriented metrics in its rankings methodology.
It’s definitely progress, but as long as the ABA refuses to wield its regulatory power, there’s only so much a magazine can do…
Our coverage of UMB hasn’t always been kind. See, e.g., discussion of former Dean Karen Rothenberg’s controversial pay packages (here and here).
This time, though, Maryland Law is doing the right thing. In a time of strained state budgets, it has succeeded in holding the line on tuition increases (which, as we’ve discussed, are running rampant throughout the law schools). UMB law students won’t see their tuition go up next year, academic year 2011-12, even though students in other schools at the university will.
How did Maryland manage this feat? Let’s take a look — which might prove instructive for other law schools….
There are plenty of attorneys in the major city offices who are not putting in enough hours and would love to be doing doc review versus the threat of being asked to look for another job. Wake up to what is happening out there in the real world!
— Ann Israel, in her advice column on NYLawyer.com (subscription), to a Yale Law School graduate and current federal law clerk seeking advice on how to get out of document review when she goes to a law firm after her clerkship (gavel bang: ABA Journal).
When we last discussed Kumari Fulbright, the Arizona beauty queen and law student turned felon, we mentioned that she was going to be sentenced in early 2011 for her role in the kidnapping and torture of her ex-boyfriend. Well, it looks like Christmas came early for Kumari — her sentencing hearing took place yesterday.
Fulbright was sentenced to two years in prison and six years of probation. She also has to pay $15,000 in restitution. The sentence itself wasn’t a surprise, since it was consistent with the plea agreement we previously mentioned.
Far more shocking was the truly hideous hairstyle that Kumari sported at sentencing….
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
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:
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.
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.