We are going through a revolution in law with a time bomb on our admissions books. Thirty years ago if you were looking to get on the escalator to upward mobility, you went to business or law school. Today, the law school escalator is broken.
* I’m not usually the editor to comment on the appearance of shirtless men, but this Aaron Tobey kid looks fine. And righteous. [Wired]
* That sound you hear could be the student loan bubble starting to burst. [FICO]
* The Supreme Court’s DOMA ruling will have an impact on immigration reform. I’m kind of interested to see what happens, given that the Court contains at least four conservatives who are immune to the rising electoral power of Hispanics and gays. [Buzzfeed]
* Recruiter Scott Love offers tips on lateral partner hiring. Here are mine. Step one: throw money at them. Step two: Hire a prostitute to make love to them on a beach, then take pictures you can threaten to send to their spouses. Hey, it worked for Bendini, Lambert and Locke. [Attorney Search Group]
* John Quinn (of Quinn Emanuel fame) wrote a great article about running in Roppongi. I had to Google that. Apparently “running” is a forward locomotion that people do for fun or fitness. [Wall Street Journal]
* There’s still room to meet with ABA president Laurel Bellows and talk about women’s issues like “how am I supposed to get a job in this f**king economy.” That’s not to be confused with men’s issues like “dude, how am I supposed to get a f**king job in this economy.” [Ms. J.D.]
* Is this contract for sex based on Facebook likes enforceable? [Gawker]
* Speaking of unenforceable contracts, what in the hell does Bilbo sign before his unexpectedly long journey? [Wired]
* And Jesus, you certainly can’t barter legal services for sex! I think everybody needs to go home and read the Second Restatement. [Indianapolis Star]
* Now you can hear for yourself the three words that Clarence Thomas spoke. It’s at the 41-minute mark. [The Supreme Court]
* Ms. JD is offering lawyers and law students the chance to submit questions to ABA President Laurel Bellows that will be answered at an event on January 31 (with viewing parties around the country). [Ms. JD]
* How to answer a question when an interviewer asks you something that you don’t have to answer. [Lawyers.com]
* Litigation can be a good excuse to get your client to do things they should have been doing all along. [What About Clients?]
* North Carolina dean claims she was forced to underreport sexual assaults at the college. When reached for comment, the Duke Lacrosse team said, “We kind of have the opposite problem.” [Salon]
* “I’m a New Yorker, and I jaywalk with the best of them.” Don’t be fooled by the rocks job that she’s got — she’s still, she’s still Jenny Sonia from the block. The Supreme Court’s very own wise Latina, author of a new memoir (affiliate link), is proud of her city. [New York Times; 60 Minutes]
* If you’re looking for an M&A adviser, you’d be wise to seek out counsel from Skadden Arps. The firm swept three separate rankings lists based on the total value of its clients’ 2012 M&A transactions. [Am Law Daily]
* Only in the world of legal education could the dean of a law school that isn’t even numerically ranked by U.S. News have the highest salary of all law deans nationwide. (We’ll likely have more on this later.) [Boston Globe]
* Arizona schools will allow 3Ls to take the bar exam, but New York schools may soon do away with 3L year altogether. Of course, the ABA will find a way to muck it up, but still, hooray for progress! [National Law Journal]
* Remember “Made in Jersey,” the show about a stereotypical Jersey girl who made the jump to Biglaw? Yeah, neither does anyone else. Hopefully “Staten Island Law” won’t face the same fate. [New York Daily News]
* “Sexiness is all about being a woman of character.” Our congratulations go out to DaNae Couch, the Texas Tech law student who advanced to the Top 10 of the Miss America competition. You go girl! [Lubbock Online]
* While Chief Justice of the United States John Roberts made a plea to keep funding for the federal judiciary intact, we learned that student loan default cases have fallen since 2011. You really gotta love that income-based repayment. [WSJ Law Blog (sub. req.)]
* Introducing the Asia 50, a list of the largest firms in the Asia-Pacific region. When it comes to the firms with the biggest footprints, only one American Biglaw shop made the cut. Go ahead and take a wild guess on which one it was. [Asian Lawyer]
* Congratulations are in order, because after almost a year of stalling, Arnold & Porter partner William Baer was finally confirmed by the Senate as the chief of the Department of Justice’s Antitrust Division. [Bloomberg]
* Our elected officials might not have allowed the country to fall off the fiscal cliff, but the American Invents Act was put on hold, so if you’re a patent nerd, you can still be mad about something. [National Law Journal]
* In the latest NYC subway shoving death, a woman was charged with second-degree murder as a hate crime, and allegedly bragged about other hate crimes she’s committed to police. Lovely. [New York Times]
* Next time you’re trapped on a plane that’s literally filled with other people’s crap for 11 hours, don’t bother suing over your hellish experience — you’re going to be preempted by federal law. [New York Law Journal]
One guy went to a professional school that takes the responsibility for training the next generation seriously. The other guy went to law school.
If you talk to legal educators for long enough, you might start to think that they are trying their best. You might start to think that there is no other way they can approach the training of lawyers. You might even start to think that they are more concerned with education then with bilking law students for all they’re worth.
Don’t believe it. Law schools are involved in a straight cash grab, and it turns out the we only need to look towards our nation’s medical schools to see how things look when schools are more concerned with the profession than profits.
It turns out that a very prestigious medical school is looking to trim a year off of the education — because doing so will reduce student debt and encourage young doctors to go into underserved fields….
* “As a lawyer, this is very sad for me.” Al Togut, the prominent attorney pulling all of the strings behind the curtain of the Dewey & LeBoeuf bankruptcy filings, wishes that there was some way that the firm could’ve been saved. [Am Law Daily]
* Guys at my law school used to break into the registrar’s office to steal transcript paper all the time; it was no big deal. No really, as far as sentencing goes, apparently doing such a thing isn’t that big of a deal in Virginia. [Daily Progress]
* That’s some nice lipstick you’ve got there, pig: Lincoln Memorial University’s Duncan School of Law is still trying to get ABA accreditation by changing everything it can, including its lax admissions standards. [Knoxville News Sentinel]
* Even though Peter Madoff’s supporters showered the court with with letters filled with compliments ahead of his sentencing, the Ponzi victims aren’t exactly showing him the same kind of love. [WSJ Law Blog (sub. req.)]
* This law firm in Texas is trying to make getting divorced a more pleasurable experience, so they invented something called the “Divorce Resort” — because there’s nothing like a four-star train wreck. [Huffington Post]
* Change may be coming soon in light of the Newtown shooting, but any talk about new federal restrictions on guns will hinge on the Supreme Court’s interpretation of the Second Amendment through the lens of the Heller case. [National Law Journal]
* Joel Sanders and the Steves are facing yet another “frivolous” lawsuit over their alleged misconduct while at the helm of the sinking S.S. Dewey, but this time in a multi-million dollar case filed by Aviva Life and Annuity over a 2010 bond offering. [Am Law Daily]
* Income-based repayment is a bastion of hope for law school graduates drowning in student loan debt, but when the tax man commeth, and he will, you’ll quickly find out that the IRS doesn’t have IBR. [New York Times]
* Is the premise of graduating with “zero debt” from a law school that hasn’t been accredited by the ABA something that you should actually consider? Sure, if you don’t mind zero jobs. [U.S. News and World Report]
* Daniel Inouye, Hawaii’s Senate representative for five decades and a GW Law School graduate, RIP. [CNN]
Idly surfing the Internet the other day, I read about a law school I’d never heard of (though I will note that your faithful editor Elie Mystal had heard of it, and once made an off-hand reference to it). I thought it might make for some light historical reading while you sweat out your bonus announcements.
It’s hard to be a famous institution if no one has heard of you, but you can earn a measure of fame vicariously through the political and legal résumés of your alumni.
It’s the second oldest law school in the United States, founded five years after William & Mary School of Law. Its alumni include two U.S. Vice Presidents, 101 congressmen, 28 senators, six cabinet secretaries, three justices of the United States Supreme Court, 14 state governors, and 13 state supreme court chief justices.
That’s a pretty decent career counseling department.
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: