* Who will play starring roles in the Obamacare arguments before SCOTUS? A bunch of older white guys. Good thing this isn’t televised, because the ratings would probably suck. [Legal Times]
* The judiciary is on the cusp of a “financial crisis,” and some trials may be put on hold. That, or they’re just going to get rid of people. Which do you think it’ll be? [Thomson Reuters News & Insight]
* When rankings like these are available, who cares about U.S. News? Here’s a list of the law schools you should go to if you want to actually make bank as a lawyer. [Forbes]
* Covington & Burling is the latest Biglaw firm to sign up for an office in Seoul. Memo to partners: this is not the spring “bonus” your associates care about. [Capital Business Blog / Washington Post]
* The jury in the Dharun Ravi privacy trial is set to begin its deliberations this morning. Oh, to be a fly on the wall in that room — or, more on point, a webcam. [Statehouse Bureau]
* Thomas Puccio, a former Biglaw partner known for his notorious clientele, RIP. [New York Times]
It’s April 29. Monarchists have long circled this day as an opportunity to praise the vestigial structures of imperial domination. But this day means a lot to people who earn their fortune through work instead of birth. Today is a huge day for Biglaw associates. For many, today is the day spring bonus payments hit their bank accounts.
Don’t spend it all in one place.
But as we all know, not every Biglaw associate will be enjoying a spring bonus this year. With the payments out, we’re no longer looking at which firms are “lagging” behind in their spring bonus announcements. Now we’re looking at firms that have simply decided they are not paying spring bonuses, regardless of what the market says. Apparently, keeping up with Cravath really will be ruinous to some firms.
So who has officially announced they will not be paying spring bonuses this year? We’ll tell you what we know about three Biglaw firms, and hopefully you can fill in any gaps…
Some summer associates are ending their summers on a very positive note. Quite a few firms have already informed law school students that after this summer fling, they’re interested in a more serious relationship.
Since our last round-up of offices extending offers to 100% of their summer associates, we’ve heard from a few more contented summers…
We’ve previously covered a sticky situation involving an alleged drafting error by real estate lawyers at Stroock & Stroock & Lavan. The dispute pits the buyers of luxury condos at the Rushmore, on Manhattan’s Upper West Side, against the development company Extell, Stroock’s client. (Our prior coverage appears here, here, and here.)
When we last checked in, the New York Attorney General, Andrew Cuomo, had sided with the buyers and ruled against Extell. But instead of just rolling over, which is what most folks do when attacked by the New York AG, Extell is fighting back. From the Real Deal (via Am Law Daily):
In a last minute and stunning move, the developers of the Upper West Side’s Rushmore condominium filed a federal lawsuit [on Monday] against state Attorney General Andrew Cuomo seeking to reverse his April rescission order to refund more than $16 million in escrow funds to buyers.
The developers, Extell Development and Carlyle Realty Partners, operating under the name CRP/Extell, also filed a motion in U.S. District Court seeking a temporary restraining order that would block the release of the funds, which include down payments for more than $110 million worth of apartments.
In its moving papers, Extell kind of throws Stroock under the proverbial bus — but just a little bit….
Time for an update: it looks like the mistake will cost Stroock’s client millions. The Wall Street Journal reports:
A long-simmering dispute between Extell Development Co. and individuals who agreed to buy condominiums in one of the developer’s new luxury Manhattan buildings ended Friday when the New York Attorney General ordered Extell to refund $15 million in down payments.
The ruling is a setback for the New York-based developer, which stands to lose more than $100 million in apartment sales, according to person familiar with the matter.
It is also a potential embarrassment for the white-shoe law firm Stroock & Stroock & Lavan, which prepared the offering plan for the building. The plan included a mistake that contributed to the ruling in favor of the buyers.
In our last post about this situation, several ATL commenters offered legal analysis. How did they fare?
Over the weekend — yes, we often publish over the weekend, so do check in with us — we wrote about the happy story of Jeffrey Fenster. Fenster, a 29-year-old lawyer who previously worked for a short time at Stroock & Stroock & Lavan, was recently selected by Governor David Paterson to serve as executive director of the Workers’ Compensation Board of New York State.
In the comments, a number of you wondered how Fenster landed this gig, despite what one former board commissioner described as “absolutely no administrative experience” and “no experience in workers’ comp or labor law.” One commenter speculated that Fenster might have been helped by Martin Minkowitz, a retired Stroock partner and expert in workers’ compensation law (which is what the New York Times hinted at).
As it turns out, it appears that Fenster was helped by connections — but not through Stroock or Marty Minkowitz.
We’re doing a little catch-up blogging this weekend, covering some stories we meant to cover during the week but didn’t get around to hitting. E.g., the update on Loren Friedman, a former Lawyer of the Day who doctored his law school transcript.
This post is a happier one. It’s about a lawyer at a big firm who managed to land an interesting and high-profile government post.
Laid-off lawyers, recent law school graduates, and Biglaw attorneys seeking greater job security are flocking towards positions in federal and state government. As a result, government gigs are very difficult to land these days, with hundreds of applicants applying for a single posting on USAJOBS.
But as shown by the story of Jeffrey Fenster, a former Stroock associate who was picked earlier this month to head up the Workers’ Compensation Board of New York State, getting a government job is not impossible.
We did not Photoshop this picture. It actually appeared in a New York Times wedding announcement. Chuckle at it, if you must. But know that when you do, you’re fiddling while a venerable institution goes up in flames.
December isn’t a great month to get married, and this December was particularly bad. Still, our final Legal Eagle Wedding Watch couples for 2009 have some surprisingly strong Biglaw credentials. Here they are:
Stroock’s bonus news is out. The firm will be paying the Cravath scale, if you hit 1900 hours. If you missed that target, you’re out of luck. Here’s the statement from the firm:
2009 bonuses are consistent with the “Cravath scale” with a presumptive threshold of 1900 hours to qualify for consideration. Merit has always been a factor in our bonus program and plays a significant part in determining the level of bonus awarded. In addition, associates who have made extraordinary contributions to the firm in 2009 will be getting more than the Cravath scale.
Our tipsters seem satisfied with the bonus. They are more concerned about Stroock’s pay scale.
Details on that, after the jump.
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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