Yes, there are going to be a lot of Simpson’s references this week.
Moving on, it’s back to school time which means campus brick-and-mortar bookstores all across the country are actually seeing some business. Forcing students to buy physical books is a good business to be in. The utility of running a textbook scam can be explained in one helpful chart:
You can blame your professors for this. Every student can get every case they need with a complimentary legal search password (thanks to our advertisers), yet professors still assign reading from casebooks. Even more incredibly, professors still write casebooks! And then those casebook publishers go out of their way to rip off students with multiple editions. There was even a cockamamie plan to prevent casebook resale that had to be beaten back by public outrage.
But, professors can also help students avoid unnecessary and costly book fees. The faculty at one school fought back against their administration on behalf of their students…
For months, we talked to counsel about our prospects in the case. He was sanguine:
“There’s nothing to worry about here. The plaintiff put a huge number in its prayer for relief, but you can’t possibly lose that much. Plaintiff’s liability case is thin, and the damages are inflated. You’ll probably win. If you lose, you’d lose no more than $1 million on an average day. On the worst day known to man, you can’t even theoretically lose more than $5 million. I wouldn’t offer more than a couple hundred grand to settle.”
A few months before trial, we ask counsel to put some skin in the game: “It’ll be expensive to try this case, and you feel good about our prospects. We’d like you to propose an alternative fee agreement that aligns your interests with ours. We’d like to pay you less than your ordinary hourly rates in the months leading up to trial, but we’ll give you a success fee if we win. Please think about it, and let us know if you have any ideas.”
A couple of weeks pass, as counsel discusses the case with his firm’s “senior management.” When the alternative fee proposal arrives, the goalposts have miraculously moved! In the course of just two uneventful weeks, our prospects for success have changed entirely!
You can invest in China on your own by forming a Wholly Foreign Owned Entity (WFOE) or by partnering with an existing Chinese business through some form of joint venture. China is fairly open to foreign investment and in the past several years WFOEs have become the most common vehicle for foreign investment, partly due to investor skittishness as stories about past problems with Chinese equity joint venture partners have made the rounds.
Yet many foreign investors still choose to enter the Chinese market through an equity joint venture, and the particular risks involved with this type of arrangement require careful planning.
* New Yorkers, having been put to shame by the people in Ferguson, Missouri, marched in protest of the police killing of Eric Garner in Staten Island. [Wall Street Journal]
* Suge Knight was shot the morning before the MTV Video Music Awards. Okay, here’s a version of that sentence that will blow your mind: Suge Knight was shot the morning before the VMA’s, again. [New York Times]
* Don’t worry, outside counsel for American banks. Even after the Bank of America settlement, there will still be plenty of work defending these clients against world governments. [Am Law Daily]
* Burger King + Tim Hortons = Donut Whopper + Low Taxes. [CNN Money]
* Dzhokhar Tsarnaev wants his indictment tossed because he claims the Massachusetts jury selection process was flawed. Let’s file away the public reaction to this so we can compare later. [National Law Journal]
* More like Iceland’s Super LOLcano. Zing! Can I go back to bed now? [Associated Press]
Statistically speaking, people who are currently in law school scored more poorly on the LSAT than the classes that came before. That doesn’t mean they are dumber — and I doubt any law school professor has the stones to do a study on whether or not the students are dumber now than they were before the recession. But it might mean that the current crop of law students were less prepared to enter law school than earlier classes.
We’ve documented the “brain drain” from the law school applicant pool. In 2012, by which point the idiocy of going to law school was plain to see by any who were watching, the number of students applying to law school with an LSAT score over 170 was down over 20%. Meanwhile, the number of applicants with LSAT scores in the 140- 144 range was only down 6.2%. High scorers were taking a pass while low scorers were saying “wow, I wonder who left this fruit here hanging so low to the ground.”
But now, it appears that trend is reversing. That’s probably bad news for the worst law schools…
* New York agrees to pay out $10 million to wrongfully convicted man. He may be gone, but former D.A. Charles Hynes is still costing the city money. [New York Times]
* Sentence requiring former Supreme Court justice to write apology letters to every judge in the state on a picture of her in handcuffs struck down as “unorthodox gimmick.” Now she has to write the letters on regular paper because apparently the apology letter part was an “orthodox gimmick.” [Penn Live]
Because I’m a glutton for punishment (I’m writing for ATL aren’t I?), every now and then I will trawl through SSRN to see if there is anything worthwhile to read. Usually there isn’t. Mostly it’s stuff like Harry Potter and the Law or whatever. It can be hard finding substantive, interesting material to read among the cruft. The other problem is that the authors are publishing articles in law reviews — which no one reads. It’s far better to submit an article to a blog (or set up your own), if you really want to reach people. I gather the point is not to be read, but instead to have an extra line on your résumé. But I digress.
It is a rather broad study covering a number of issues that arise from the quality of legal writing among new lawyers. In particular how established members of the profession view the writing skills of new lawyers. So how did they fare?
Someone on Craigslist isn’t happy with the job market in Charleston, South Carolina. Apparently law firms down there make hefty and cynical demands of their potential associates.
We understand that the market for attorney employment isn’t great right now, and we’re looking to capitalize on that so that we can maximize our earnings and minimize our costs. While this does mean a few more Ramen noodle meals for you, just think of how pleased you’ll be when you see us (the partners) cruising the waterways on our new boats or when we’re able to buy a second Lexus SUV for our wives. We understand that you’re seeking to build a career and pay off high-interest student loans, but second homes don’t come cheap and neither does the maintenance for my Mercedes to get there. And don’t worry, I don’t have any problems sleeping at night.
Thus, this parody classified. It’s already been taken down, but we grabbed a screen cap…
The statistics don’t lie. There is approximately a 50/50 split between men and women who graduate from law school and obtain entry-level associate positions at firms. However, many more women end up leaving after a few years and either never return to the firm environment or return to practicing law at all. We can point to a myriad of reasons, both personal to each woman and systemic of the general firm structure, but the bottom line is that women lawyers are a group that could use assistance in getting back into law.
Enter the OnRamp Fellowship. Founded by Caren Ulrich Stacey, the Fellowship is a re-entry platform that allows experienced, talented lawyers to return to the work force through a one-year, paid training contract. This platform allows lawyers to renew and increase their legal skills, while getting a resume boost that will help transition them to the next position at the same or different law firm. The Fellowship also provides lawyers with the opportunity to make valuable networking contacts and obtain professional references.
Are you sure that you know the difference between a prostitute and a stripper? Trust me, I thought I did too. A prostitute leaves after you have sex. A stripper makes you leave before you have sex. The distinction is entirely fourth dimensional.
But the Black’s Law Dictionary definition of a prostitute is incredibly… loose. They define it as “A woman who indiscriminately consorts with men for hire. Carpenter v. People, 8 Barb. (N. Y.) 611; State v. Stoyell, 54 Me. 24, 89 Am. Dec. 716.”
First of all, that’s sexist. Men can be prostitutes too… what, you think there is something Nic Cage would not do for money? More importantly, people indiscriminately consorting for hire describes pretty much every lawyer in America.
Upon reflection, maybe Black’s Law is spot on there. But the confusion actually makes me a little more sympathetic to this area man who called 9-1-1 on a stripper who didn’t have sex with him…
If you just needed the skills to pass the bar, two years would be enough. But if you think of law as a learned profession, then a third year is an opportunity for, on the one hand, public service and practice experience, but on the other, also to take courses that round out the law that you didn’t have time to do.
Two years—it does reduce the respect, the notion that law is a learned profession. You should know a little about legal history, you should know about jurisprudence. [Two years] makes it more of a craft like the training you need to be a good plumber.
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:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The 2014-2015 law school year is now in full swing. 1Ls are grappling with the strange new world of the Socratic Method and briefing cases. 2Ls are hoping to score some sort of job out of the fall interviewing season. And 3Ls are wondering just what the heck they’re even doing on campus. If, in fact, they are even on campus at all. ATL’s law school experts have designed this challenge to help determine how much you know about the realities of the 3L experience.