Mergers and Acquisitions

If you plan to work in Biglaw, you know it’s likely you’ll be able to command a very high hourly rate. Just how high we’re talking, though, depends on the area of law in which you choose to practice.

We already knew that litigators handling bet-the-company cases collected nice fees — in some instances up to $1,500 per hour — but there are other practice groups that rake in crazy cash, too.

Keep reading to find out where you’ll be able to make the most bank in Biglaw…

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* Justice Scalia criticized law schools. Here come the butthurt law schools. [Legal Times]

* Cass Sunstein on Rand Paul’s real father — Richard Epstein. [New Republic via PrawfsBlawg]

* Irony alert: Rick Santorum endorsed the judge who just legalized gay marriage in Pennsylvania. [Slate]

* What do you know? Donald Sterling is a dick. [Los Angeles Times]

* A follow-up on a previous item: does this look like a law student kneed so hard he lost a testicle? [Barstool Sports]

* In a development that should shock no one, it turns out the Chinese hackers may have been turning their attention to infiltrating law firms “which hold valuable intellectual property for their clients but often lack the security defenses of a larger corporation.” [Bits / New York Times]

* Model suing hair salon for $1.5 million for ruining her career. That sounds funny, but the story is actually kind of horrifying. [New York Post]

* Are we looking at an M&A boom in 2014? Frank Aquila of S&C thinks so. After the jump… [Mimesis Law]

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455 Central Park West

At the corner of Central Park West and West 106th Street on Manhattan’s Upper West Side, you’ll find a very distinctive building: 455 Central Park West. The luxury condominium building consists of an elegant French Renaissance chateau — a former hospital, actually — attached to a 26-story tower.

It’s a magnificent building, combining the best of the old and the new. Its beautiful apartments have been used as weapons in the law school faculty recruitment wars.

On Friday night, however, 455 CPW was the site of tragedy. A prominent M&A partner at a top law firm jumped from his 22nd-floor apartment to his death.

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The Houston legal market is hot — and a lot of the heat is being generated by Kirkland & Ellis. As we reported last month, K&E recently launched a Houston office with talent poached from a rival.

Kirkland hired Andrew Calder away from Simpson Thacher, for a reported $5 million a year for the next three-plus years. We’ve heard that these figures are a bit high — that he’s hitting the $5 million mark in his first year, thanks to a signing bonus, but not guaranteed at that level for the subsequent years — but there’s no denying that he’s being paid very, very well.

And there’s no denying that K&E will pay what it takes to break into the Houston market. Who’s the latest up-and-coming young partner to get invited into the Kirkland club?

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Dzhokhar Tsarnaev

* If you want to become a Supreme Court justice, you can start by attending one of these three schools. The schools that produced the most justices are Harvard Law, Yale Law, and Columbia Law. [TIME]

* Many of the transactional practice areas that took a bruising during the height of the recession, like corporate work, M&A, real estate, and tax, seem to be coming back. Sorry litigators. [WSJ Law Blog]

* Following Oklahoma’s botched lethal injection, another death row inmate has been given a new lease on life — for the next six months — while an investigation is being carried out. [Associated Press]

* Members of the defense team for accused Boston Marathon bomber Dzhokhar Tsarnaev not only want their client’s comments after arrest stricken from the record, but they also want the death penalty off the table. Good luck. [CNN]

* A lawyer was arrested after a school board meeting because he complained for too long about a graphic sex scene in a book his daughter was assigned to read for school. That’s typical. [New York Daily News]

As the old saying goes, the best defense is a good offense. The exceedingly prestigious and profitable Kirkland & Ellis, which has seen some partner defections in the past few months, seems to be taking that lesson to heart.

Kirkland recently launched in the hot legal market of Houston — by poaching a promising young partner from a competitor. Which super-elite firm did K&E just raid for talent?

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Nigella Lawson

* “Those who support limits see the court right now as the T. rex from ‘Jurassic Park.'” Folks are pretty worried even more campaign finance laws will fall thanks to the Supreme Court’s ruling in the McCutcheon v. FEC case. [New York Times]

* Skadden Arps and Simpson Thacher are at the top of their game when it comes to mergers and acquisitions. Both firms did very well in new deal rankings released by Bloomberg, Mergermarket, and Thomson Reuters. Nice. [Am Law Daily]

* Former Massachusetts senator Scott Brown has reportedly ditched Nixon Peabody to try his hand at a U.S. Senate run in New Hampshire. We hope he doesn’t lose his shirt again. Oh wait… [Boston Globe]

* As it turns out, the book in the Harvard Law library once believed to be bound in human skin is actually bound in sheepskin. Congrats, this is slightly less creepy. [Et Seq. / Harvard Law School Library Blog]

* Celebrity chef Nigella Lawson was turned away from a flight to the U.S. after her admission to coke usage in a trial. She should probably stop sticking her nose in other people’s business. [The Guardian]

Gwyneth Paltrow

* After forcing Solicitor General Donald Verrilli to acknowledge that the Affordable Care Act could force for-profit corporations to pay for employees’ abortions, Chief Justice John Roberts seemed rather pleased with himself. [New York Times]

* Sidley Austin just hired a major M&A heavy hitter away from General Electric’s legal department. Congratulations to Chris Barbuto. We suppose he can make it rain as outside counsel now. [DealBook / New York Times]

* Because there’s no time too soon for an ambulance airplane chaser, the beginnings of the first lawsuit lodged against Malaysian Air after Flight 370’s probable crash was filed in court yesterday. [Bloomberg]

* UC Hastings and Iowa are the latest law schools to offer 3+3 accelerated degree programs. What a great recruiting tool for Iowa, which recently saw enrollment levels plunge by 40 percent. [National Law Journal]

* One month after the internet exploded with rumors of Gwyneth Paltrow having an affair with entertainment lawyer Kevin Yorn, the star announced her split from her husband. Coincidence? [New York Daily News]

Comcast has confirmed reports that the company will be acquiring Time Warner Cable in a deal estimated to be worth around $45 billion. With the ink on their NBC acquisition only just dry to the touch, the deal will tack 8 million broadband subscribers onto the company’s existing 22 million broadband customers. Comcast is already the nation’s largest fixed-line broadband company, largest cable TV provider, and third largest fixed-line phone company — and that’s before you include the company’s NBC or other assets. From a geographical perspective the deal makes sense; Time Warner Cable filling in Comcast’s coverage gaps and in particular giving Comcast the prized markets of Los Angeles and New York City, where Time Warner Cable has traditionally under-performed.

The problem is less of market share (the two companies didn’t compete directly) but one of consolidated power…

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Judge Diarmuid O’Scannlain (my former boss)

* Virginia is for lovers — gay and straight alike. Judge Arenda L. Wright Allen (E.D. Va.) just struck down the state’s ban on same-sex marriage (but stayed her ruling pending appeal). Happy Valentine’s Day! [Washington Post]

* The Ninth Circuit, in an opinion by Judge Diarmuid O’Scannlain, issued a major Second Amendment ruling. Is it correct, and what will happen next? Professor Eugene Volokh shares his thoughts. [Volokh Conspiracy; Volokh Conspiracy]

* Which leading law firms are trying to make the Comcast/Time Warner Cable monstrosity into reality? [American Lawyer]

* Did a Biglaw firm make a big-time mistake by blowing a deadline to appeal a $40 million verdict? [Law360 (sub. req.)]

* Speaking of screw-ups, making them in the e-discovery realm can be costly — a lesson that California is learning the hard way, to the tune of $32 million. [ACEDS]

* Former New Orleans Mayor Ray Nagin thought he’d be acquitted; he thought wrong. [ABA Journal]

* George Washington wasn’t a member of the one of the 8 magic groups — but his story still illustrates the truth of The Triple Package (affiliate link), according to Washington biographer Logan Beirne. [Fox News]

* Authorities have made an arrest for the package bombing that killed a retired Tennessee lawyer and his wife. [CNN]

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