Last week, we asked readers to submit possible captions for this photo (click to enlarge):
Let’s have a look at what our readers came up with, and then vote on the finalists…
Are the Weil Gotshal layoffs a harbinger of a rough second-half of the year for Biglaw? Early signs are not encouraging. Since last week we’ve seen office closings, secretary firings, and the amibiguous WilmerHale goings-on. There is a palpable tension in the wake of the Weil cuts. Where do we go from here? What, if any, will be the follow-on effect of Weil’s move?
In the wake of the Weil cuts, our friend Bruce MacEwen gave an interesting interview to Bloomberg Law’s Lee Pacchia. Bruce speculated that there is possibility of up to 10% overcapacity in Biglaw, and the supply and demand curves for legal talent have permanently shifted. In Bruce’s view, Weil is “very much ahead of the curve.” Ominous tidings for associates everywhere. There’s an interesting point in the interview where Pacchia wonders whether the legal profession will ever return to a “halcyon era” where law firm partners’ immediate self-interest is minimized in favor of long-term stewardship. Bruce, channeling Clubber Lang, responds that the only thing that will return us to that golden era, if it ever existed, is more pain.
Last week we conducted a research poll asking for your take on whether the Weil layoffs signal an oncoming reprise of the Biglaw bloodbath of 2008-09 or a singular phenomenon. Let’s look at the results of our poll and some choice highlights from your responses….
Elie here. In sports, we assess the legacy of athletes after every game. In politics, we assess the legacy of elected officials after every vote or scandal. So why can’t we do the same for Supreme Court justices?
In case you’ve been living under a rock, it’s been a pretty big week over at One First Street. The Court has decided a number of high-profile, controversial cases. Those decisions have come down with strong holdings, blistering dissents, and stinging concurrences. Each justice is aware that the words they’ve published this week could be around for a long time, long after they’re dead, and will be judged by history.
But who has time to wait for history? David Lat and I engage in some instant legacy analysis on what this week has meant for each of the nine justices on the Supreme Court. Let’s break it down in order of seniority, starting with the Chief….
This year has seen a grim procession of law firm layoff news, which seemed to pick up momentum just yesterday with the Weil Gotshal lawyer layoffs and the Jones Day staff cuts. Are we looking at a 2008 redux, or is this just a bump in the road as the economy makes its slow recovery?
The Weil news was particularly stunning. If any firm seemed poised to thrive in the post-recession “new normal,” it was Weil, with its diversified practices and hegemonic restructuring group. Alas, with yesterday’s news of Weil’s decision to cut 7% of its associates and slash annual compensation for 10% of its partners by hundreds of thousands of dollars, it is clear that Biglaw job security is a thing of the past.
Let’s explore the reasons behind law firm layoffs, review a chronology of recent reductions, and obtain your views through a reader survey….
Everyone likes to think that real lawyers are as glamorous, thin, and gorgeous as the ones they see on television, but that’s sadly not the case. Sure, some lawyers in the real world are beautiful, but the key word there is some. The truth is that most are just average in the looks department, and as we learned in Clueless, many, many more are like full-on Monets — from far away, they’re okay, but up close, they’re a big old mess. Oh, and most of them are overweight.
And just like that, “Fat Week” continues on Above the Law…
Which one of these is not like the others? The CPA exam, the GRE, the U.S. Medical Licensing Examination, the Series 7 exam, the Test of English as a Foreign Language, the GMAT, the Dental Admission Test, and the LSAT. All of these exams are administered by computer except the LSAT.
Why the peculiar persistence — in 2013 — of the No. 2 pencil for LSAT takers? Last week, in partnership with our friends at Blueprint, we surveyed current LSAT prep students on their views and preferences regarding test-taking technology.
There were strongly held opinions in both the traditionalist and high-tech camps. Here are the results….
When I discussed the NALP mental health panel, I noted that we are going to see more and more law students with mental health problems in the future. As mental health services get better in high school and college, people who would have washed out are going to do well enough to get into law school.
But should they go to law school? Today, we have a question from a person suffering from Asperger’s Syndrome. He got into a Top 6 law school, with scholarship money. But he wonders if he should even bother if he’ll get shut of Biglaw because of his symptoms.
Let’s see what you guys think….
Every year we have a law revue video contest, in which there are winners, there are losers, and then there are sore losers. This year, we saw some pretty wild accusations being tossed around (including “idea plagiarism,” which is apparently a thing in the minds of industrious law students).
No matter how hard our finalists tried to game the system with their various campaigns, one of them surpassed all the rest. Congratulations go out to the students at West Virginia University College of Law, the winners of our Fifth Annual Law Revue Video Contest.
But of course, there was much drama to be had….