Not many firms try to trump Cravath, the traditional market leader when it comes to year-end bonuses. Most major firms are followers.
There are a few exceptions, and one of the exceptions is Skadden Arps. Back in 2008, Skadden announced bonuses before Cravath, and those Skadden bonuses turned out to be much higher than Cravath’s. When most other firms subsequently followed Cravath instead of Skadden, my colleague Elie Mystal mocked these firms for their “Half-Skadden” bonuses.
Skadden just announced its 2013 year-end bonuses. Did it beat the Cravath bonuses, or did it join them?
Can you name this man? He’s Obama’s Kenyan uncle. Who are we kidding, better question: Can you point to Kenya on a map?
* Alabama fan allegedly shot despicable front runners who liked the Tide and the Heat for not being distressed enough after Alabama’s loss. When reached for comment, LeBron tightened his Yankee cap and yelled Roll War Eagle Tide. [USA Today]
* A couple of Illinois lawyers got disbarred for beginning inappropriate sexual relationships. One began an affair with a teen he’d prosecuted. It’s good to see people still look up to Dan Fielding. [Legal Profession Blog]
* Obama’s Kenyan Uncle will not be deported. We need him to stay and do a job no American wants to do.. fix Healthcare.gov. [Associated Press]
* Kaplan has agreed to make a number of changes to increase access for disabled students in a settlement arising from the request of a deaf student to get a sign language interpreter. Now figuring out the bar exam will be… slightly easier. [Daily Business Review]
* White males successfully argue that they shouldn’t even have to listen to a black woman talk about race, even if she’s their professor in “communications.” [Raw Story]
* Munger Tolles brings back the former ambassador to Australia as a partner. “That’s not a cognizable claim. This is a cognizable claim.” [Law 360 (sub. req.)]
* David and Elie appeared on CNBC’s Power Lunch today to talk about bonuses that they’re not getting. Video embedded after the jump…
– Goat. That’s what the goat said when called into a courtroom as a witness against 28-year-old Katana Kitsao Gona in the latter’s sentencing for bestiality. It must have been compelling testimony because Gona got 10 years.
(Video of a news report on this story, after the jump….)
In addition to being dirty, they toss out annoying liberal platitudes to mask a self-absorbed worldview based around “freedom” as defined by easy access to drugs and not being hassled by regulators who aren’t cool with a commune squatting in a tenement. They’re like libertarians without showers and with the decency to pretend they care about other people.
But this federal judge hates them a lot more than the average bear. And he hates their lawyer even more…
In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.
Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.
Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.
We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?
Law firms love to slap their names on stuff. If you’ve been through on-campus interviewing or worked as a summer associate, you probably own lots of Biglaw-branded swag, from t-shirts to duffel bags to energy drink.
And now you can sip that Biglaw beverage from a customized container. Check out the picture for our latest caption contest….
If you’ve ever wondered what a difference your $150K+ legal education makes, watch a pro se litigant. If you’ve ever wondered what a difference your $150K+ legal education and a clean bill of mental health makes, watch this pro se litigant.
Pro se litigants are often entertaining with their hare-brained theories about law and fervent yet unwarranted conviction that everyone is out to get them. Ironically, pro se litigants tend to hate the judge most of all, even though the most frustrating part of litigating against a wingnut is the way judges bend over backward to help out — prolonging the inevitable while slowly bleeding your patience and your client’s wallet. But it’s rare to have video of one launching into a full tirade against a judge before storming out of the courtroom.
So what’s this guy’s deal?
(Be careful — on some computers the video just starts automatically so be prepared)
Two weeks ago, I wrote about one of Biglaw’s most pressing issues: the failure of senior partners to pass along clients to younger partners. But that is not the only problem some of Biglaw’s senior partners are causing for their firms and the industry as a whole. Unfortunately, a measurable portion of senior partners, those of the august titles and stratospheric billing rates, are among the worst offenders of one of Biglaw’s most notorious shortcuts to extreme profitability: creative time entry and billing.
While I hate to acknowledge, even though I have seen it firsthand, that partners make up time entries wholesale for work never performed, it is not hard to realize that in this age of the multimillion-dollar partner there exists a tremendous incentive for such behavior. Or at least for partners to “round up” time entries, a tacitly accepted practice within Biglaw.
Incentives matter, and the more richly compensated a senior partner is, the more pressure there is on them to put down a solid four to five hours for “reviewing and revising” a draft brief on Tuesday, only to make a similar entry when they review a more robust version of the same brief a few days later. And because senior partners are frequently responsible for a horde of timekeepers below them, the tone set by the lawyers at the top of the pyramid has an impact on the behavior of those lower on the chain….
Do chimpanzees deserve legal personhood? A “first of its kind” lawsuit will ask a court to answer that question. Steven Wise, founder and president of the Nonhuman Rights Project, has filed a writ of habeas corpus on behalf of four chimpanzees.
I will now pause while James Franco auditions for the role of Steven Wise.
I’m not sure what rights chimpanzees (or pets) deserve in our human society — but “zero” seems to me to be the wrong and certainly unenlightened answer. Wise argues that the chimps are being held as prisoners against their will. I don’t think anybody can seriously disagree with that assessment.
But if chimps have a “will,” do they also have rights that we are bound to respect?
* Harvard Law’s Langdell Library hosts a bevy of legal treasures. Including the personal lunchbox of Justice Oliver Wendell Holmes Jr. [The Harvard Crimson]
* Per a new survey, watching the Kardashians makes one twice as likely to want an aggressive lawyer. When I have to watch the Kardashians I become an aggressive lawyer. [Avvo]
* The Supreme Court spent Cyber Monday denying review to two cases challenging the imposition of sales taxes on Internet purchases. [The Blog of the Legal Times]
* New York State Attorney General Eric Schneiderman cracked down on fake Yelp reviewers. Apparently, reviewers who gave a pet groomer 4 stars are a bigger priority than the reviewers who gave subprime-backed securities AAA ratings. [Corporate Counsel]
* Not exactly breaking news, but Philly has caught on that law firms are merging because the market is so terrible with a new piece on the merger craze. Specifically, they’re looking at the planned merger of BakerHostetler and Philly’s own Woodcock Washburn L.L.P. we mentioned last week. [Philadelphia Inquirer]
* Lakers guard Steve Nash’s ex-wife is battling him for child custody. She’s hired a Phoenix law firm whose most famous attorney is jacked up NFL ref Ed Hochuli. For now Hochuli isn’t working on the case directly. For now. [TMZ Sports]
* Congratulations to Kobre & Kim on being named Law Firm of the Year by the National Asian Pacific American Bar Association. [Newsday]
* Who says Civil Procedure isn’t sexy? Some UNLV Law students take to YouTube to bring (Civ Pro) SexyBack. [You Tube]
Lat here. Going into the 2013 Biglaw bonus season, indicators were looking mixed.
Cravath, the supremely prestigious and profitable law firm that’s the traditional market leader on bonuses — as in the firm most widely followed by other firms, not necessarily the firm that pays the biggest bonuses — announced another large partner class. Last year, that boded well for bonuses.
On the other hand, Biglaw’s overall performance has been somewhat anemic this year. The stock market might be hitting new highs, but many law firms are running in place.
People have been waiting forever for Cravath to make its big announcement. Now the wait is over: at 4:45 p.m. today, Cravath announced its 2013 year-end bonuses.
How are they looking? What’s getting stuffed inside associate stockings this holiday season?
* Walking out on the law firm life is a bold move. This is pretty much how it goes down for everyone who does it. [Big Law Rebel]
* Cops in Rochester arrested three black kids for waiting at their bus stop. [Gawker]
* As we noted on Friday, the Jackie Chiles Law Society held a mock trial and convicted Harry Potter. “Who told you to put the Butter Beer Balm on!?” Video after the jump (note that the clip plays automatically, so don your headphones if necessary).
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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 six years. You can reach them by email: firstname.lastname@example.org.
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