* 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.
Students who received a prestigious Bristow Fellowship with the Solicitor General’s Office will be informed today.
The Office of the Solicitor General confirmed with us this morning that the decisions have been made and successful applicants will be told today. If you applied, you might want to keep your phone lines open.
But if you are a student from Yale Law School, this year might not be your year. An inside source tells us that no student from Yale received a fellowship this year.
That’s rough. Students from Yale Law are getting shut down before Harvard Law Dean Elena Kagan even takes over. But we shouldn’t expect Kagan to be unduly influenced by Harvard-Yale competition in her new role. Talent always rises.
Let us know which schools did well in securing a fellowship this year in the comments.
* Cass Sunstein could share a U-Haul with Elena Kagan for the move down to Washington, D.C. Here are some reactions to Sunstein’s appointment to “regulatory czar” in the OMB. Richard Epstein says “it’s one thing to start a debate, which is what you do in academia, and it’s another to start a program, which is what you do in government.” Hiss! [The Boston Globe]
* Bankruptcy judges are likely to get much more powerful soon. Congress is getting more serious about a law allowing the restructuring of mortgage debt in a bankruptcy. [Reuters]
* Prominent civil rights attorney Charles Morgan Jr. who argued for “one man, one vote” before SCOTUS died yesterday. [Washington Post]
* Washington lawyer Cyrus Mehri joins the N.A.A.C.P.’s crusade for more diversity on Madison Avenue. [New York Times]
* Apple may be wishing John McCain had won the presidency. [New York Times]
In this economic climate, bankruptcy partners are worth their weight in gold. Expect to see more lateral movement in the bankruptcy bar, as marquee names get courted by firms seeking greater presence in the area.
In response to inquiries from ATL, spokespersons at Cadwalader and Greenberg Traurig issued this joint statement:
We can confirm that Bruce Zirinsky and John Bae have tendered their resignation at Cadwalader, Wickersham & Taft and have accepted offers to join Greenberg Traurig shortly.
Congrats to Greenberg Traurig on their new hires. GT seems to be growing despite the downturn, as reflected in their most recent press releases.
As for Cadwalader, all’s fair in love and lateral moves. The firm is losing two bankruptcy partners, at a time when they’re in high demand. But recall that, back in March 2007, CWT raided another firm for Chapter 11 champs of its own: George Davis, Deryck Palmer, John Rapisardi and Andrew Troop, who left the storied bankruptcy group of Weil Gotshal for Cadwalader.
Reflections on what the Zirinsky and Bae defections mean for CWT, after the jump.
Gary Green was an associate at Skadden in Los Angeles. About a year ago he was fired. On New Year’s Eve, Green filed a complaint against the firm and a number of partners and associates.
Green’s complaint brings the fire. He alleges defamation, wrongful termination, tortious interference, and a host of other things.
And he has some very inflammatory things to say about specific Skadden partners and associates. He calls one of the partners incompetent, bizarre, abusive, and inappropriate. He goes so far as to allege in a court document that a particular partner has run a practice group “into the ground” and is “one of the weakest — if not the weakest partner — in Skadden’s Los Angeles office.” And it goes on.
Green alleges he was fired for giving a harsh review to a junior associate. Most alarmingly, he alleges that Skadden partners were angered by the review because it opened the firm up to potential malpractice claims from a Skadden’s client.
You can download the full complaint after the jump. But first you can read Skadden’s response after the jump.
* If you look closely, you’ll notice that now you can share your favorite ATL posts on Facebook, or Digg It.
* Boston College Law School graduate, Caplan & Ross attorney, and “blook” writer Nicole Mondschein has lots of interesting imaginary friends. [The Star Islanders]
* Great orginal research exposes Elena Kagan: the law student. It turns out I got better grades than she did first semester 1L year. After that … not so much. [The BLT: Blog of the Legal TImes]
* As future poet laureate Beyonce might say “I’m a survivor, I’m not gonna give up, I’m not gonna stop, I’m gonna work harder. I’m a survivor, I’m gonna make it, I will survive, Keep on survivin'” [Law and More]
* Soldiers and Veterans: know the law, know your rights. The Reserve Officers Association of the United States has completely revamped it’s law library and the information there sounds fantastic. [ROA]
* Kid Rock wants his judge to either A) send him to jail or B) go to Iraq to prove a point to the Kid. Hmmm … which one do you think is more likely to happen? [Popsquire]
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: