* A few weeks back, we mentioned some legal lessons gleaned from Jay-Z’s 99 Problems. Turns out, you might not need law school to become a lawyer. Maybe all you need is a Spotify subscription and a good set of headphones. [FindLaw]
* Government security guard finds suspicious bag and stashes it under his desk, where it chills out for a couple of weeks. Oh yeah, I should probably mention — there was A BOMB in the bag. Nice work, Sherlock. [CNN]
* If you rat someone out, you might avoid prson. But in Illinois, if you end up in prison, don’t be surprised if you end up with a real rat as a cellmate. Maybe a roach too, if you get particularly unlucky. [WBEZ]
Now that Citigroup decided that the recession was over, hopefully this layoff news will start to dissipate. But we wanted to catch up on some layoff news that happened yesterday that we weren’t able to get to. Pircher Nichols & Meeks had its second round of layoffs, and the numbers were surprisingly similar to the first round of cuts.
Leo Pircher explained the news to Above the Law:
The Firm laid off eight attorneys, five in Los Angeles and three in Chicago. Two of the attorneys were first years.
In early December, Pircher Nichols also laid off attorneys, eight attorneys to be exact. Those cuts included one first year.
First years aren’t safe at large law firms, and they’ll find no quarter at mid-sized law firms either.
On Friday we reported that Epstein Becker & Green might have set the bonus market for regional firms to zero. While associates at firms outside the AmLaw 100 have every reason to worry about receiving any bonus at all, it’s worth remembering that the terrible economic conditions are still causing layoffs.
We received word that 8 associates were let go from Pircher, Nichols & Meeks. The firm confirmed the move today:
The Firm laid off a total of 8 of its 75 attorneys, seven in Los Angeles and one in Chicago. One of those laid off was a first year. Four staff members were also laid off. The Firm’s practice is concentrated in commercial real estate. Work in this area has declined in the last 6 months and our clients have told us that it is not likely to pick up substantially in 2009. We therefore reluctantly decided that we must reduce the number of our people to match the amount of business we see going forward. We do not anticipate further layoffs. The persons laid off are all fine and competent people and we intend to help them find new positions.
Letting go of 8 people in a firm of 75 is a deep cut. But there certainly isn’t enough commercial real estate work to go around.
It was nice for Mr. Pircher to say that his former employees were fine people, and I’m sure that those former associates will appreciate any help the firm can offer.
The options for lawyers at mid-sized firms keep getting worse. Behind Door #1: $0 Bonus. Behind Door #2: Layoffs. Behind Door #3: Falling on your knees and praying that you didn’t inadvertently choose Door #1 or Door #2.
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
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