If you’re going to steal millions from clients, at least make a good story out of it. Like blowing hefty sums on luxurious private air travel and wiring millions to casinos to cover gambling debts. Make it a rock star story right up until the very end.
Of course, it’s hard to imagine a lawyer successfully stealing millions. There are just too many checks in place to let it get that far. It felt like the only thing anyone needed to know to pass professional responsibility was to respect escrow accounts. You just make sure all the money you’re watching for your customers, consumers, lenders and employees is always accounted for. There’s inevitably more than one person handling the bank statements. It’s just hard to lose millions.
Nonetheless, one law firm with offices around the country thinks it’s discovered more than a minor problem in its accounts. In fact, it just filed a lawsuit against its former managing partner, alleging that he siphoned off a cool $30 million from client escrow accounts to live like a proverbial rock star….
* Dean Chemerinsky lays out how the Supreme Court is protecting local corruption. It’s what the Framers would have intended. [New York Times]
* In response to the latest article from Professor Michael Krauss, a former student suggests that maybe the so-called “justice gap” is a good thing. It kind of comes down to how much you believe in the efficiency value of the “American Rule.” [That's My Argument]
* A well-written tribute to a Nashville civil rights lawyer. [Nashville Scene]
* This seems like a place to remind people that David’s going to Houston next month. [Above the Law]
* Here’s a new game to check out. It’s a twisted dirty word game called F**ktionary (affiliate link), so obviously it was made by a lawyer. It’s kind of like Cards Against Humanity meets Scattergories, which is just as fun as it sounds. The promo is after the jump….
Since the launch of alt.legal, Ed and I have received a lot of very interesting emails and feedback. It is apparent that many of you read ATL literally allday love working in Biglaw, but most many have considered taking a walk onto the alternative side (sounds far more erotic than it is).
What we hope to prove to you through this ongoing column is that legal entrepreneurship is exciting, prestigious, lucrative, and, most importantly — to the many resilient lawyers out there who have remained idealistic in the face of back-to-back all-nighters — your best chance to change the legal system for the better. Moreover, despite what you think, innovation in the law is NOT just in e-discovery. Turns out, there are problems worth solving associated with almost every practice, and with each, there are entrepreneurs and innovators ready to change the game. (My co-author, Ed Sohn, is planning to write more on this underground world next time.)
Today, we profile one such entrepreneur, Adam Nguyen, who saw inefficiencies in the always-exciting process of contract review for due diligence (hey litigators, it turns out M&A lawyers have to do document review too), and leveraged $150,000 worth of Harvard Law-branded problem solving to create an innovative technology solution called eBrevia.
Somebody is going to need to do a study on the lost productivity caused by the Every Simpsons Ever Marathon. It’s been pretty amazing. Not that I support what’s really going on here: we should be living in frictionless times, but the exclusivity deals like the one FXX has struck with the Simpsons can make it more difficult to access the content you want on the platform where you want it. At this point, we need an app to tell us what app we need to download the shows we want.
I know, I know, my fears are groundless and my complaints moronic. Whatever, I get FXX and I either work from home or in an office where I can watch TV and say things like “I’ll finish this post between the 29th and 32nd minutes of the hour, thanks.”
It occurs to me that if you are at work, like a real work job, you might be missing out and much of this zeitgeist. Come on, just because you are locked in an office and chained to a desk, doesn’t mean you can’t procrastinate with your fellow Americans.
Let us reminisce about the patron saint of lawyers, Lionel Hutz…
As an openly gay attorney at Becker & Poliakoff for over nine years, I know that the email sent by this attorney does not reflect the core values of this firm. In fact, Becker & Poliakoff is committed to diversity as reflected by the firm’s hiring practices, outreach and diversity scholarships awarded annually.
I discussed in a past column that one of Canada’s finest law schools, McGill, costs about $4,000 per year. Isn’t that crazy? I bet many Biglaw partners have spent more than $4k on a single client lunch (tip included).
McGill’s microscopic tuition highlights the two main differences between U.S. law schools and Canadian law schools: first, almost all Canadian schools are waaaaaayyyyyyyyy cheaper than their U.S. counterparts. Second, the top students from all our law schools can get Biglaw jobs in Canada. We have only about twenty law schools, but each of them regularly place students with big firms across the country.
There is an implication for Canadian schools as a result: our schools don’t really need to differentiate themselves from their competitors. They can get by with similar course offerings and limited specializations.
The U.S. law school universe is vastly different….
It’s not all doom and gloom in the Back In The Race series. Despite getting ignored or getting countless rejection letters from law firms big and small, I like to have a little fun with my job search. So today, I will share my experience at an interview with a firm I had no interest in working for. Thanks to Above The Law’s generous contributor compensation plan, retirement benefits and student loan repayment assistance program, I can afford to be slightly more picky when it comes to choosing employers.
Over the weekend, a recruiter asked if I would be interested in meeting with a local solo practitioner who seeks to hire an associate. After learning a little bit about her and her area of practice, I knew it wasn’t going to work between us. But I decided to go to this interview anyway just so I could play the role of the demanding, entitled special snowflake and see her reaction.
So let’s find out who the lucky solo is and see how it all went…
As we mentioned in Morning Docket and on Twitter, yesterday’s Seventh Circuit arguments weren’t fun for the defenders of Wisconsin and Indiana’s same-sex marriage bans. The three judges, especially Judge Richard Posner, were tough — very tough.
Chris Geidner of BuzzFeed, a leading chronicler of marriage-equality litigation, described the proceedings as “the most lopsided arguments over marriage bans at a federal appeals court this year.” Ian Millhiser of ThinkProgress called it “a bloodbath.”
That’s no exaggeration. Let’s check out the specifics….
Lawyers, by nature, are not very optimistic people. Maybe it’s a function of assessing risk constantly — with your ass on the line no less. Or just that lawyers tend to get called in after the s**t has hit the fan, so we aren’t generally exposed to the very best of humanity.
I can no longer remember if I was an optimistic, glass-half-full kinda person before law school, but surely there was some spark in me that saw the good in people and situations. I know because I just felt that small flame of hope flickering in my chest get extinguished. And it’s all because of a job posting
So what job is so bad it has me questioning my very faith in humanity?
* Judge Posner dished out a whole lot of benchslaps at yesterday’s Seventh Circuit arguments over Indiana and Wisconsin’s bans on same-sex marriage. [BuzzFeed]
* Major U.S. and Canadian law firms chow down on Burger King’s whopper of a deal with Tim Hortons. [Am Law Daily]
* A recent Delaware court ruling on attorney-client privilege might allow in-house lawyers to speak more freely about wrongdoing at their companies, according to Professor Steven Davidoff Solomon. [DealBook / New York Times]
* The corruption trial of former Virginia governor continues; yesterday Bob McDonnell’s sister took the stand. [Washington Post]
* A favorable evidentiary ruling for Aaron Hernandez. [Fox Sports]
* And good news for Zephyr Teachout and Tim Wu, the two law professors running for governor and lieutenant governor of New York: the Times dissed their opponent, Andrew Cuomo, with a non-endorsement. [New York Times]
* I recently spoke with one of my cousins Joao Atienza of the Cebu Sun Star, about Above the Law and the world of legal blogging. [Cebu Sun Star]
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.
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 legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.