Hurricane Sandy hit the legal world hard, as we’ve chronicled in these pages. And many lawyers and legal employers are stillfeeling its effects — quite literally. If you work at one prominent downtown law firm, for example, we hope you’re wearing thermal underwear.
As we mentioned on Friday, some individuals have been exploiting the Superstorm Sandy crisis to take advantage of others. The Justice Department and the SEC have issued warnings about various “Sandy scams.”
On the opposite end of the decency spectrum, some lawyers and law firms are stepping up to the plate and supporting Hurricane Sandy relief and recovery efforts. Let’s see what they’re doing — and give them some well-deserved kudos for their work….
On any list of “scum of the Earth,” people who profiteer off of disaster victims have to make the list. Jesus, it’d be worth Hell existing just so there would be a place for people who take advantage of disasters to loot electronics or valuables (food, if you’re hungry and nobody is home, is fair game I guess). I think there are reasonable people on both sides of the New York City marathon debate, but the thought of any police not stopping a looter to deal with the marathon makes me think they should cancel this year’s event.
Of course, looters aren’t the only kinds of criminals trying to take advantage of the hurricane. The Department of Justice is warning people to be on the lookout for Sandy scams…
* Looks like someone skipped professional responsibility class during bar prep: the Ninth Circuit denied attorney fees to McGuireWoods in light of an “egregious” ethics violation made in the BAR/BRI antitrust settlement. [National Law Journal]
* Apple rested its patent-infringement case against Samsung yesterday, making way for the rival tech company to begin presenting its case. Jurors must be thrilled that the end is in sight, with just 25 more hours of arguments to go. [Bloomberg]
* “The facts don’t seem to support a ‘stand your ground’ defense.” That’s what George Zimmerman’s attorney said yesterday, but the defense team is going to try to get the case dismissed on those grounds anyway. [AP]
* When applying to law school, it’s usually helpful to demonstrate in your application that you actually want to go to law school. Gah, people seriously need to be told these things. [Law Admissions Lowdown / U.S. News]
* “[T]he plaintiff’s tampon was never forcibly removed by any deputy.” First of all, yuck. Second of all, you know that a crazy lawsuit must have been filed when the cops are making public statements like this. [NBC News]
Whenever there’s a big story, GT is there. In the past month, it has appeared in these pages as the possible savior of Dewey, the actual savior of Dewey’s Poland operations, and the victim of some alleged rudeness by a divorce lawyer in Texas.
And, of course, Greenberg Traurig has found itself at the center of the TD Bank controversy. Late last week, Judge Marcia Cooke held a contempt hearing, to decide whether Greenberg should be sanctioned due to a discovery debacle.
The hearing spanned two days and featured some high-powered witnesses. What happened?
Federal judges don’t take kindly to misstatements by counsel appearing before them. And when the judge is unhappy, the client is unhappy. And when the client is unhappy, outside counsel gets cashiered. It’s not a pretty process.
Let’s travel down to south Florida, where an allegedly incorrect statement by a partner at Greenberg Traurig has incurred the wrath of a federal judge — apparently resulting in the client replacing the firm, and the firm parting ways with the partner.
You made a fool of me… and got me in huge trouble with the feds.
For a long time, I have been a staunch advocate of putting passwords on all electronic devices — laptops, phones, tablets, etc. There’s no reason to leave your private life or sensitive business data accessible to any schmo who might have access to your phone, just because you’re too lazy to spend three seconds typing in a password. This is especially true for lawyers, given the client confidences that they handle.
At least personally, however, I’m more lax about sharing some access passwords with close friends or family. My girlfriend knows my iPhone and computer passwords. (I know hers too.) Usually I don’t stress about potentially catastrophic consequences of her knowing that information. But every once in awhile I read something that makes me seriously wonder if you can trust anybody.
My current crisis of trust arises from the prosecution of a man accused of conspiring to export millions of dollars of electronic equipment from the U.S. to Iran. Prosecutors found “incredibly blatant admissions of criminal wrongdoing and philandering” on the defendant’s iPhone. But the man says his wife — who he is currently trying to divorce — stole the phone and forged the incriminating evidence.
Talk about emasculating. Let’s read more about this not-so-happy couple.…
Last month, the Supreme Court law clerks for October Term 2010 finished their clerkships, turning over their clerkly duties to the October Term 2011 class of clerks. As in past years, many of the OT 2010 clerks are joining private law firms — which welcome them with six-figure signing bonuses. These bonuses are paid on top of base salaries reflecting their seniority (many SCOTUS clerks join firms as second- to fourth-year associates), as well as the usual year-end bonuses.
For the past few years, at least since 2007, law firm signing bonuses for members of The Elect have hovered around $250,000. But this year, at least a few firms are offering even more.
After the Haitian earthquake last year, we saw law firms step up in a big way to support relief efforts down there. Hopefully we will see the same reaction to the ever-increasing tragedy unfolding in Japan. Given an 8.9 a 9.0-magnitude earthquake, a massive tsunami, and a nuclear disaster that is already the second-worst nuclear accident in history, you hope that Japan will get all the help that the world can provide.
If anything, the nuclear meltdown angle is obscuring the humanitarian crisis currently happening in Japan. We know that Americans can’t focus on something unless there is some tangential relationship to something bad that could happen here, but you’d think that the possibility of 10,000 deaths would be enough to trigger our humanitarian concern without obsessing about apocalyptic scenarios.
Thankfully, a couple of law firms aren’t waiting for Japan to start glowing before making efforts to help…
* Johnson & Johnson will have to fix several factories after an agreement with the FDA prompted by massive product recalls. This still doesn’t explain why my bottle of Tylenol may contain tree nuts. [Bloomberg]
* Charlie Sheen hammered out a custody agreement With Brooke Mueller. That’s nice. [People Magazine]
* Texas may consider a law that would make losers pay attorneys’ fees. Easy, New York Mets. Not all losers. Just those who lose lawsuits. [New York Times]
* A discussion of the legal complaints lodged against the Wisconsin Legislature for Wednesday night’s votes. You know who’s not complaining? This guy. [Wisconsin State Journal]
* A former assistant attorney general from Maine was sentenced yesterday in a child porn case. This is definitely the year of the assistant AG. [ABA Journal]
Happy Birthday Nino
* Not all people living in Idaho are racists, duh. Some are gangsters from Boston. [New York Times]
* Law firm profits and productivity were up in 2010, while demand was flat and revenue was modestly up. Someone named Dan DiPietro and someone named Gretta Rusanow tag-teamed a report all about it. [Am Law Daily]
* A former McGuireWoods partner pleaded guilty to falsifying a tax document. [ABA Journal]
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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