You feel like the other top firms will have to match. But right now the ball is in the court of firms that are not used to being market leaders when it comes to associate compensation. These firms know they’ll have to pay top of the market compensation; they just don’t know what the top of the market is yet. Is it S&C’s bonus? Or is it Cravath’s? Nobody wants to end up like Skadden in 2008, which paid out much more in bonuses than its peer firms that year.
So right now all of these firms are kind of looking at each other, waiting for one of them to do something. According to a tipster, that’s what’s happening at Weil — they’re just desperately waiting for somebody to tell them what to do…
And here’s some additional good news. Last year, Bingham experimented with a somewhat complex “merit-lockstep” hybrid approach to associate compensation. This year, Bingham is moving back to a simpler system.
(Disclosure: In addition to representing porn companies, Randazza represents Above the Law. He represented ATL in Jones v. Minkin, the one and only time we’ve been sued (knock on wood). The case was dismissed.)
When I first got this job, I thought that it might be a good idea for me to hook up a Breathalyzer to my laptop to prevent me from posting drunk. Then I realized people enjoy this site more when at least one of us is drunk, and so I sacrifice my liver for you fine readers.
Of course, making internet pronouncements about which law schools should be avoided is one thing; it’s not like I’m sitting on a bench wearing a black robe and banging a gavel. I’m not a judge (or a driver), only my shrink needs to know how many Bloody Marys it takes before I feel like dealing with commenters.
In short, I’m not Judge W. Kennedy Boone III, a Washington County Circuit Court judge in Maryland. In November 2009, Judge Boone got into a car accident where his BAC was .18 — twice the legal limit in the state of Maryland. In March he pleaded guilty to a DUI. And now the Maryland Commission on Judicial Disabilities is making him submit to a Breathalyzer twice a day when he goes to work.
So yeah, Maryland can’t trust the guy to remain sober for an entire work day, but as long as he can prove that he’s sober he is allowed to be a judge, with power over people’s lives…
Judge Marjorie Rendell (former First Lady of Pennsylvania).
There’s lots of law-related news coming out of Philadelphia right now.
The lead story on the Philadelphia Inquirer’s website today is about the latest Villanova Lawscandal, regarding falsified admissions data being submitted to the ABA. (The article contains a shout-out to ATL, which we appreciate.)
And then there’s the news that has all tongues wagging in the City of Brotherly Love: the split of a big-time Pennsylvania power couple (and a pair of Villanova Law grads, by the way).
Former Governor Edward Rendell, who left the governor’s mansion just last month, and Judge Marjorie Rendell, a prominent judge on the U.S. Court of Appeals for the Third Circuit, are going their separate ways. They announced their separation, after 40 years of marriage, in an email sent to friends….
I like it when the artifice drops and Biglaw is shown to be dominated by greed. I don’t necessarily use the word “greed” pejoratively. I like money, you like money, and if somebody offered you more money to do what you are doing already, you’d take it.
I just like it when people can admit that the only thing they care about is money. It just makes things more efficient. What do you want? More money! When do you want it? Now!
Associates get a lot of flack for being unabashedly greedy, but an excellent report in today’s Wall Street Journal illustrates that Biglaw partners are just as obsessed with money has anybody else.
And the only problem is that the partners losing out on the money grab are kind of pissed….
* In other garbage baseball team news, David Wright says the Madoff lawsuit will have an effect on Mets players. When you’re a Met, you can’t have too many excuses. [ESPN]
* Patton Boggs has filed suit against Chevron and their counsel at Gibson Dunn as part of an ongoing lawsuit that accuses Chevron of raping Ecuador. Raping figuratively, I think? I think that’s right. [Wall Street Journal]
* The Google executive imprisoned in Egypt was released yesterday. He immediately sent out a tweet that said “Freedom is a bless that deserves fighting for it. That said, I think I’ll just be evil now. It’s easier.” [New York Times]
* Immigration law is the hot new practice. Brown is the new black. [Kansas City Star]
* Yakima, Washington succeeds in crushing Man’s dream of getting coffee with one cream, two sugars, and extra butt cheeks. [ABA Journal]
Daniel de Juan, a sales engineer from Mitratech, summed up perfectly what LegalTech was like for me this year: “Being at LegalTech is almost like being at a casino, in the sense that you lose all track of time.”
Two years ago, I found the conference to be pretty intimidating, and that was when the conference was much smaller due to the weak economy. Last year, LegalTech New York was much bigger, and I found it slightly overwhelming. This year, due to some bad planning on my part, I came home from LegalTech utterly exhausted.
It seems I wasn’t the only one who felt this way. After a quick search on the Internet, I have seen only a few things written up about the conference, so I’m guessing many people went through the same experience. (For example, I spoke with members of The Posse List on the first night, and they told me that they were gearing up to do 36 interviews during the two and a half day conference — so it must have been a whirlwind for them as well.)
That said, here are some musings from my adventure last week….
* How did Howrey start to unravel? The trouble might have started in Europe. [Washington Post]
* Congratulations to Arvo Mikkanen, a Native American nominee to the federal bench in Oklahoma (and “an all-around great dude,” according to a tipster). [The Atlantic]
* Washington & Lee Law School, which we recently praised for its honesty to prospective law students, gets even more transparent — in an interview with Vault. [Vault's Law Blog]
* In a recent visit to USC, Justice Kennedy presided over a Shakespeare-inspired trial — something he has donebefore — and denied that the justices think about the news media when making their decisions. Methinks His Honor doth protest too much. [USC News]
'Please don't ship me in a box with no air holes.'
This Villanova scandal is going to get uglier before it finishes. On Friday, we reported that John Y. Gotanda, the dean of Villanova Law School, sent a letter to students and alumni in which he revealed that the school reported inaccurate admissions information to the American Bar Association.
The letter was light on specifics. According to comments made by a Villanova spokesperson to the ABA Journal, the problem involved Villanova providing the ABA with incorrect LSAT and GPA numbers.
The Villanova administration has not yet disclosed exactly what data was inaccurate, who was responsible, and what the school is doing to make sure that this kind of thing won’t happen again. That could be because the school is still investigating the full scope of the problem.
But Villanova students and faculty members are talking. Here’s what we’ve heard so far…
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.