* Now that Barack Obama has secured his seat as a two-term president, in-house counsel in the financial sector can kiss their dreams of Dodd-Frank being repealed goodbye. Here are some issues to think about in light of its new footing. [Corporate Counsel]
* “We’re in the early innings of adjusting what value means.” And these days, it looks like “value” is synonymous with “making less money.” Given the results of this third quarter analysis, it’s quite clear that flat is still the new up for Biglaw. [WSJ Law Blog]
* Blow my whistle, baby? A DLA Piper partner filed a $4M suit against the Office of the Comptroller of the Currency on claims he was maliciously prosecuted as revenge for whistleblowing. [Daily Business Review]
* From Biglaw to Midlaw: Morrison Cohen, a midsize firm, managed to poach a partner from Willkie Farr. But how? Apparently this guy was no longer interested in billing “$900-plus” per hour. [New York Law Journal]
* Former Congresswoman Gabrielle Giffords will be present at Jared Lee Loughner’s sentencing hearing today, though it is unknown if she herself will speak. His expected sentence is life without parole. [ABC News]
Previously on Moonlighting, we considered some common mistakes that law firm attorneys make when pitching their firms to seek work from new clients. It featured such dramatic gems as: find out who our enemies are; BS sounds like… gee, whaddya know… BS; and cameos from other need-to-know concepts making their appearance on the big (computer) screen.
In this week’s episode article, we’ll look at the other side of the coin, with a remake that focuses on the in-house lawyer’s perspective. What are some ways that in-house lawyers can ensure that they get the most out of those pitch meetings?
In the next few months, we’re going to see a lot of lawyers switching jobs in Washington, D.C. Regardless of who wins the election — my current prediction is that Barack Obama will prevail (sorry, Anonymous Partner) — many lawyers will move into and out of government in the weeks before and after Inauguration Day.
For those who joined the Obama Administration early, three or four years is long enough to make them nostalgic for private sector paychecks. What use is a punched ticket if you never redeem it?
In fact, the movement has already started. Today we bring you news of two notable moves from the nation’s capital. One of them involves a lawyer leaving a top government post, and the other concerns an in-house lawyer entering the firm world….
You’re an attorney at a mid-sized or large firm and have received an opportunity to pitch your firm’s work to a brand new prospective client. You’ve researched the company and the deals that your firm has worked on that would be a good match. All you have to do is go into the meeting sounding like you know what you’re talking about, and soon you’ll be raking in the hourly dough, right?
Perhaps. Many attorneys would be benefit from heeding Alexander Graham Bell’s words: “Before anything else, preparation is the key to success.” A lot of you falsely believe you’re just unnaturally talented at just winging it. And most of the companies you pitch to will never tell you that no, you’re really not. What follows are some actual examples of some common mistakes that lawyers make when pitching their firms to in-house counsel….
* “I don’t think that we even need to have a race box on the application.” Abigail Fisher is getting even more time in the spotlight thanks to this media interview, which is sure to be the first of many. [New York Times]
* “[T]hey didn’t do anything wrong civilly — and they certainly didn’t do anything wrong criminally.” Tell that to the prosecutors who are looking into the circumstances of Dewey & LeBoeuf’s epic fail. [Wall Street Journal]
* Lateral hiring in midsize/regional firms seems to be up for those with “real-world experience,” but the starting salaries aren’t anything to write home about — they’re still on the “low” side. [Connecticut Law Tribune]
* Jerry Sandusky’s sentencing hearing is today, and in addition to the tape he already released, he’s planning to read a statement before he receives what’s likely to be a life sentence. WE ARE… kind of tired of hearing about his supposed innocence. [CNN]
* “There are fewer interviews and fewer schools interviewing.” This week, would-be law profs who attend the AALS “meat market” will get a taste of what recent graduates have been experiencing. [National Law Journal]
* Yeah, about that huge bonus we were going to pay our ex-finance director — we realized how silly that was, so we’re not going to do that. Aww, don’t worry, Dewey & LeBoeuf, you’ll have plenty of other chances to look absurd. [Am Law Daily]
* Not only is Samsung suing Apple for patent infringement, but the company is also trying to get a do over by getting Judge Lucy Koh to throw out the original billion-dollar verdict over jury foreman Velvin Hogan’s alleged misconduct. [Bloomberg]
* “Small deals are easier to swallow, easier to integrate.” Regional firms like Carlton Fields and Adams and Reese are gobbling up smaller firms in what seems to be the latest trend in law firm merger mania activity. [Thomson Reuters News & Insight]
* Douglas Arntsen, the former Crowell & Moring associate who had to be extradited from Hong Kong after embezzling $10.7M from clients, pleaded guilty in exchange for a lesser sentence. [New York Law Journal]
* It’s tough to come up with appropriate whistleblower jokes given the background here. We’ll play it straight: Mike McQueary filed a defamation suit against Penn State, and he’s seeking $4M in damages. [ABC News]
* Jose Godinez-Samperio, an undocumented immigrant, is fighting for the ability to practice law in Florida, but the members of the state Supreme Court are literally trying to make it into a “federal case.” [Washington Post]
Landing a corporate client is usually a happy time for any law firm, big or small. Now, the representation may not be a day in the park — after all, there are many, many ways for general counsel to drive outside counsel absolutely nuts. But even so, this kind of a client is another notch in your firm’s belt, no matter how difficult the relationship. Especially given today’s economy, this is a client that your firm will want to keep for as long as possible.
But regardless of everyone’s efforts, your firm just couldn’t seem to get it right. Your firm’s lawyers tried to placate the legal department’s every whim, to apparently no avail. Perhaps the proposed budget was a little too high. Perhaps an attorney from your firm was just a bit too snippy with in-house counsel. Whatever the case may have been, your firm got fired.
Why does this keep happening, and how can you make it stop?
* Chief Judge Edith Jones of the Fifth Circuit, the judicial diva herself, will be stepping down from her role at the head of the bench earlier than expected, due to “family issues.” Perhaps she told someone to “shut up” too many times? [Tex Parte Blog]
* Apple asked U.S. District Judge Lucy Koh to deny Samsung’s request that she bar all further communication with trial jurors, because the company claims it wants “equal access to information” (aka jury foreman Velvin Hogan). [Bloomberg]
* “[T]here’s no way to preserve the definition of marriage [as one man and one woman] other than by preserving the definition. It becomes somewhat circular.” That, and you rely on law from 1885. Argh! [BuzzFeed]
* ASU Law wants to move from Tempe to Phoenix, and to make it financially feasible, the school may increase enrollment and raise tuition. Sound like a good idea, prospective law students cash cows? [Arizona Republic]
* Now compare/contrast: Stanford Law had to dip into its coffers to come up with the cash to cover its financial aid promises this year, but the school isn’t cutting out a dime that’s owed to students. [National Law Journal]
* Massachusetts appealed the Michelle Kosilek sex-change ruling. The state claims it provided “adequate medical care,” but it’s questionable whether that was the case if the prisoner tried to castrate herself. [CNN]
* Tully Rinckey, a midsize firm, is planning to open an office in Buffalo, New York, so it sent out recruitment letters to 5,469 attorneys in the region. Unemployed law grads: open the letter, it’s not a bill! [Buffalo News]
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: email@example.com.
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 firstname.lastname@example.org or email@example.com. 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:
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Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!