As we mentioned in Morning Docket, the American Lawyer recently released its highly influential, closely watched Am Law 100 law firm rankings. They say that “slow and steady wins the race,” and with regard to economic recovery, Biglaw firms seem to have taken that up as their new motto.
Yes, partners are still living as large as they ever were, but their success now comes in the form of single-digit returns with regard to key financial metrics. The divide between the “haves and the have-nots” in the world of major law firms has grown to epic proportions, and some Am Law 100 staples have fallen out of the top hundred firms altogether. Welcome to the new normal.
Are you ready to get excited about “modest” and “spotty” gains across the board? Let’s dig in….
* Based on the justices’ reactions during oral arguments in Windsor v. U.S., there was no defending the Defense of Marriage Act. Not even Paul Clement, the patron saint of conservative causes, could save the day. [New York Times]
* Alas, the David Boies and Ted Olson Dream Team stole much of the spotlight from Roberta Kaplan, the Paul Weiss partner who argued on behalf of Edith Windsor in an effort to overturn DOMA. Seriously, you go girl! [WSJ Law Blog (sub. req.)]
* Dude, you’re getting a Dell! Alston & Bird and Kirkland & Ellis are the latest firms to join the Biglaw sharks (including Ho-Love, Debevoise, Wachtell, SullCrom, and Simpson Thacher) circling this major tech buyout. [Am Law Daily]
* It looks like it’s time for JPMorgan to face the music for its investments in Lehman Brothers, because a federal judge just ruled that the bank cannot “dispatch plaintiff’s claims to the waste bin.” [Reuters]
* An alleged killer’s sense of mortality: James Holmes, the suspect in the Colorado movie theater shooting, offered to plead guilty and spend life in prison in order to avoid the death penalty. [CNN]
If you’re an attorney who’s trying to escape the practice of law, sometimes the most obvious route is the best one. As we’ve noted previously, beneath the skin of many a suit-sporting lawyer beats the heart of a writer. And by now, writing must be hardwired into your soul, so why not try to take it to the next level?
Or better yet, perhaps you’re passionate about writing, but you’re an out-and-out trivia nerd. You’d think that jobs like that would be hard to come by, but today’s stealth lawyer didn’t exactly have a rough go of it when he first tried to make his foray into game show writing.
Who is he, and what shows has he produced and written for? Let’s find out….
Here’s a little fact that’ll make some of our readers feel old: Facebook, the world’s largest social media conglomerate, celebrated its ninth birthday yesterday. Being that it’s almost been around for a decade, the site’s been there with some of our younger readers throughout college, law school, bar exam hell, law jobs (or the lack thereof), engagements, weddings, babies, and more.
In celebration of Facebook’s birthday, the good people over at BuzzFeed did some stalking research on the site’s very first users, all 25 of them. As it turns out, some of them went on to become lawyers. But where did they go to law school, and which firms are they at today?
Let’s do something Facebook would never do — invade their privacy — and find out….
Few people are happier about the world’s surviving the Mayan Apocalypse than new partners at top law firms. Can you imagine slaving away in Biglaw for almost (or even over) a decade, finally winning election to the partnership in late 2012, and then having the world end before your hard-won partner status took effect?
Fortunately that didn’t happen. Heck, we didn’t even go over the fiscal cliff. But some people will have to pay higher taxes this year (and for many years to come).
Like these people: the talented and hardworking lawyers who, as of January 1, 2013, became partners of their respective law firms. Let’s find out who they are, so we can congratulate them….
Well, so much for that! Time for me to end my short-lived career as a fortune teller or law firm consultant.
Within minutes of my wondering whether firms might not match the generous 2012 Cravath bonus scale — and my suggesting, ever so gently, that firms might want to at least put some thought into whether matching made sense for them financially — one major law firm announced a match of the Cravath lucre.
When it comes to bonus payments, Simpson Thacher will not take a backseat to Cravath. Let’s get the details….
Hey, did you guys know that Asian people sometimes marry Jewish people? No? Well, the New York Times has noticed, and they’re totally on it! Here’s the paper’s investigative masterpiece on Asian-Jewish intermixing, which manages a paragraph linking Amy Chua and Jed Rubenfeld to the Beastie Boys.
We await a hard-hitting NYT piece on the cultural implications of the WGWAG.
Meanwhile, it’s high wedding season for couples of all races and creeds. Here are three of the most outstanding:
What is the deal with Biglaw partners and getting in trouble for drinking and driving? Just yesterday, we wrote about a Winston & Strawn partner and would-be ambassador to the Netherlands whose nomination was scuttled after getting charged with a DUI. And many of you are familiar with the unfortunate drinking-related courtroom escapades of Laura L. Flippin of DLA Piper.
The newest partner drinking story comes to us from the Far East. This Biglaw partner was not only allegedly driving under the influence, but he apparently crashed his fancy sports car in the process….
Garden Place: one of the loveliest blocks in Brooklyn (or all of New York City, for that matter). If you have $10 million to spare, you can live here too.
A friend of mine recently made partner at a top New York law firm. A senior partner called to offer congratulations: “Now you can finally move out of Brooklyn!”
But my friend doesn’t want to move out of Brooklyn — and with good reason. Over the past few years, what was once viewed as a dangerous, dirty, and downmarket borough has become hot, happening, and high-end. It’s not for nothing that GQ famously dubbed Brooklyn “the coolest city in the planet.”
Brooklyn may be newly hip (and increasingly expensive), but some people have known about its charms for years. Take this partner at a leading New York law firm, a longtime resident, who has placed his Brooklyn Heights townhouse on the market — for an eight-figure sum….
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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