This is not a U.S. News and World Report ranking. We chose these three schools based on their conduct as institutions in 2008 and the actions taken by their administrators. One school is down South, another is in the windy midwest, and the last is in New England. Check them out, after the jump.
Back in November, we asked you to predict what your hours would look like for 2008, and we reported some worrisome results:
This year, the mighty have fallen, and so have their hours. While roughly 56% of associates still expect to hit at least 2000 hours in 2008, the number reaching 2200 is expected to fall from 35% to about 21%.
Meanwhile, the number of associates who won’t even make 1800 hours has roughly doubled, rising from 9.86% to 19.54%. Almost one in twelve associates don’t even expect to make 1600 hours, way up from 3.29% a year ago. (Remember, these numbers exclude stub years.)
But as gloomy as those results were, many commenters expected a much more dire view:
These reported hours seem WAAAAAAYYY high. People here are averaging maybe 80-110 hours per month. I myself would be happy to hit 1200 or 1300 by year-end.
These numbers are still too high. Everyone I talk to at my firm and others is super slow in corporate. The fact that only signle digits are below 1600 for almost all class years is suspicious. People hitting 1400 are having an above average year at many firms.
If I hit 1100, it’ll be a miracle (and a shitty Christmas).
Oh, and my small corporate group at a satellite office is looking at a range of approximately 700 – 1200. I think the group will likely be getting smaller…
Um, some of us are padding our hours and are still coming in at under 1600. There was literally no work for months, though things have picked up somewhat in the past couple of months.
And, let’s face it, you know last year’s billable hours must have been awful if the presiding partner of Cravathwants to scrap the system.
So, now that 2008 has come to an end, let’s see if last year’s predictions hold true. Today’s ATL / Lateral Link survey will focus on what your billable hours actually were.
Update: This survey is now closed. Click here to see the results.
According to various sources, Miller’s email was filled with legal banter such as claims that if any NBA team signed Miles, it would breach a “fiduciary duty as an NBA joint venturer,” and “tortiously interfer[e] with the Portland Trail Blazers’ contract.”
As a matter of law, however, Miller’s claims are bizarre, if not outright bogus. There is no fiduciary duty amongst NBA teams that forbids them from competing vigorously in the free agent market. In addition, there is no active player contract between a free agent player such as Miles and his former team.
Even more disturbing than these outlandish legal claims, however, is that Miller’s email seems to invite NBA teams to boycott Miles’s services. This reading of Miller’s email places the Blazers at risk of facing an antitrust lawsuit under Section 1 of the Sherman Act or a labor grievance under the anti-collusion provisions in the NBA collective bargaining agreement (Major League Baseball owners got into trouble for similar misconduct in the late 1980s) (pdf).
After the jump, more sports executives behaving badly.
* Law firm Thompson Wigdor & Gilly has moved in to a loft that looks more like a start-up than a law firm. Their light, spacious, white leather studded office doesn’t fool anyone….or does it? [The New York Times]
* SCOTUS will hear a major reverse discrimination case brought by white fire-fighters who say they were not promoted because of their race. [The Christian Science Monitor]
* A South African appellate court reinstated corruption charges against Jacob Zuma, the leader of the ruling party and probable next president. [The New York Times]
* U.S. government regulators are urging Citigroup to replace chairman Winfried Bischof in hopes that it will restore investor confidence in the bank. [International Herald Tribune]
* Los Angeles litigator William W. Vaughn, who defended Dan Rather against slander in 1983, died last week. [Los Angeles Times]
* New York judge Ronald Ellis will decide today whether to revoke Madoff’s bail and send him to prison. Ellis has made thousands of bail rulings including a case involving a French acrobat whose paraglider got caught on the Statue of Liberty’s torch. [Bloomberg.com]
* Thanks to ATL’s night and weekend readers, we’re making a surge in the 2008 Weblog Awards. It’s time to get the morning voters involved. Remember you can vote once every 24 hours. [2008 Weblog Awards]
Thanks to our readers, we won the ABA Journal’s Blawg 100 News & Politics catagory, but things aren’t looking so hot for ATL right now in the Best Law Blog contest of the Weblog Awards. Our friends at the Volokh Conspiracy, a most excellent legal blog, are killing us (and everyone else).
Alas, we didn’t focus on the contest until it was well underway. Because you can vote multiple times — once every 24 hours, until the contest ends on Tuesday, January 13, at 5 p.m. (EST) — we probably should have launched a “get out the vote” effort earlier.
Based on the voting so far, it looks like many of you haven’t noticed the contest yet. But there are still a few days left before the voting closes. If you’re the kind of person who likes to vote on things over the internet, please send the Weblog Awards crew our kind regards. Happy Friday!
* Law students across the country are struggling to find jobs, so what are law deans doing about it? They’re spending more time calling up kids trying to convince them to matriculate to law school. Pedagogical excellence, one tuition check at a time. [TaxProf Blog]
* Do you want to see what happens when judges start a rock band? I mean a real one and not the more common definition that involves a Playstation or an Xbox. If your interest is piqued, check out Deaf Dog and the Indictments at the Kennedy Center this Sunday. [Kennedy Center]
We’ve been reporting on the Biglaw salary freeze heavily over the past month. Earlier this week, we did a round-up of firms that had announced their intention to keep 2009 salaries at 2008 levels.
At that point, we knew of sixteen firms that had sent memos to their associates notifying them that raises were not forthcoming. While certainly unpleasant, everyone acknowledges that it’s more welcome than layoff news.
Today, we’re getting e-mails from several associates who are freaking out that the freeze is on at their firms, based on their first paychecks of 2009. Their paychecks came in last night at 12:01 a.m. and they are the same amount as paychecks last month. Here are the unconfirmed freeze reports we’ve received so far…
Mayer brown checks just popped at last years levels. So apparently there is a freeze, maybe, but no memos on it yet. Please investigate.
Today was the first pay day in 2009 for Mayer Brown NY. In the past, our first pay check of the year automatically reflected salary increases. No such increase today. Smells like a pay freeze?!? With the added courtesy of letting ADP announce it instead of management.
(UPDATE (6:05 p.m.): Mayer Brown spokesman Bob Harris says the firm “has not yet announced its plans for lawyer compensation in 2009″ and that it usually makes the decision in February.)
Steptoe & Johnson froze salaries. What stands out about this is that they did not send a memo or anything telling associates salaries would be frozen, or saying when/if the position would be reconsidered. Today was our first payday, and they just issued everyone the same checks they were getting last year. No comment. No memo. No explanation. Typical douche-baggery.
They haven’t made any announcements of a salary freeze. They just haven’t announced any salary increases and continue paying the old salary. When I looked at the employee system to check the amount of tomorrow’s paycheck, it shows that I will be paid the same salary as last year.
Not everyone is freaking out. A reassuring voice, after the jump. Also, Ballard Spahr and RatnerPrestia have officially put the freeze on, with a memo and a press release, after the jump.
The winter wedding announcements are often a prestige wasteland, but we’re actually quite pleased with the caliber of the couples we’ve been able to round up for the first 2009 edition of Legal Eagle Wedding Watch (which admittedly includes some entries from late 2008).
Hi. After vetting well over 100 candidates and conducting ‘airport’ interviews over two weekends (one in DC, the other here in Williamsburg), the Law School dean search committee has chosen 5 finalists who will be coming to campus for interviews over the next 6 weeks. There may be a 6th candidate, but that has not yet been determined.
Hey, ATL Idol turned out well enough (didn’t it?). Why shouldn’t William & Mary law students have a more active role in choosing the new dean? They at least deserve a chance to meet the candidates.
Students will have the opportunity to meet each candidate in a ‘town hall’ (large group, question & answer) setting. We will provide dates and times as schedules crystallize.
Check out the list of W&M Law Dean finalists after the jump.
We continue to actively recruit, hire and invest in the firm’s core practice areas and in the past three months alone we have hired 13 associates, including 9 first-year associates, and 3 lateral partners. We expect to have a higher attorney head count at year end than at the beginning of the year.
But as the firm continues to make lateral hires, it looks like they are also continuing to cut associates. We understand that four associates were let go on Tuesday and that today will be their last day.
Our tipsters report that these attorneys will be receiving a 2 month severance package.
We’ve reached out to the firm, but Loeb & Loeb has not yet responded to our inquiries.
But it’ll be interesting to see how the firm describes the cuts. Last time, the firm said:
As part of Loeb & Loeb’s periodic attorney evaluation process and assessment of its overall personnel needs in its various practice areas, eight associates firmwide were notified that they were being let go.
We’ll see if these cuts are called performance related, or if they were triggered by the global economic meltdown.
Wildman Harrold, a Chicago based law firm of over 200 lawyers (and an ATL commenter favorite) has laid off 10 lawyers.
The firm has confirmed that there were “approximately” 5 income partners and 5 associates let go. Our tipsters also report that eight staffers were also let go, but the firm did not confirm that information.
One tipster reports that Wildman’s managing partner had previously promised that there would be no layoffs at the firm:
The Managing Partner, Robert Shuftan, assured associates a month and a half ago that the firm would not be conducting layoffs unless something “catastrophic’ happened to the firm.
Another tipster reports:
The laid off attorneys were told that the moves were necessary because of the current economic climate.
But the firm contends that the layoffs were part of its annual review process.
Finally, the moment you’ve all been waiting for: time to announce Above the Law’s top two stories for 2008, on the gossip front. We’ve also been recapping the top stories on the business side of the fence, but stories about the business of law are available from many other outlets. Juicy law firm gossip is harder to come by.
Our two leading gossip stories were broken here at ATL. They were subsequently picked up by mainstream media outlets, but we covered them first.
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: