* Man, the economy is so bad, monks are having to go to court to fight for a new revenue stream. [WSJ Law Blog]
* We have peace between a Texas auction house and the President of Mongolia over the ownership of a Tyrannosaur skeleton. While we’re here, should anybody wish to invite me to a pre-screening of their inventive dinosaur park, I’d like to note that I’m not the type of bloodsucking lawyer who leaves children behind. [Heritage Foundation]
* Did you know Sullivan & Cromwell got involved in the birther controversy? The first one, the legitimate one with Mitt Romney’s father. Not the ridiculous one that Romney’s been embracing. [Reuters]
* Speaking of Mittens, did you know he supports for-profit colleges? That’s like supporting people jumping off the Empire State Building, so long as they pay to get in. [Salon]
Today, as you probably know, is the deadline for filing your taxes. As was the case last year, the combination of April 15 falling on a weekend and the little-known holiday of Emancipation Day pushed the filing deadline back a bit.
Did you appreciate the extra time to fill out your tax return? Partners at Dewey & LeBoeuf probably did, due to some problems with their K-1 forms.
And speaking of partners at Dewey, their numbers continue to decline. Let’s look at the latest defections, as well as the tax issue.
UPDATE (10:30 AM): The game of musical chairs continues. Six more Dewey departures, which we learned about shortly after publishing this post, after the jump.
I don’t always cover electronic discovery, but when I do, I prefer juicy court decisions.
And that’s what we have today. The United States District Court for the Southern District of New York released a blunt, controversial ruling last week, slamming down accounting firm KPMG for requesting a less intense preservation obligation. The case has unsettling implications for attorneys and corporations who have big hopes in the future of less costly and less invasive e-discovery standards.
The case has been causing headaches for some time now….
It’s one of the biggest cons going around. I cringe whenever I hear it. A lawyer laughs and says, “I’m not good with numbers — that’s why I became a lawyer.”
On the surface, it seems to make sense; it sounds like it should be true. For some, it might even be true. After all, the last time we used quadratic equations was back when loafers on bare feet were considered desirable footwear (thanks Don Johnson).
In-house lawyers should never, ever say they’re bad at math — even those who really are. After all, business people are preoccupied with numbers. As an in-house lawyer, telling a business person that you’re bad at math is like telling them you don’t care about the most important thing that everyone else in your company cares about, and if your company is publicly listed, what every investor in your company cares about — the company’s numbers….
Cops learn to hate people. Basically everyone they encounter is a criminal, so cops soon come to believe that everyone is a criminal.
Litigators — or perhaps litigators who are repeat players in a particular field — learn to hate people. Personal injury insurance defense counsel come to believe that all plaintiffs are lying fakers. Personal injury plaintiffs’ lawyers come to believe that all insurance defense counsel are tightfisted jerks who never pay a claim.
Maybe this is natural. If you spend eight hours every day repeatedly doing the same thing over the course of many years, you become what you do. It’s hard to break out of your role.
But this can cause trouble for in-houselitigators. If you become what you do, consider who in-house litigators learn to hate . . .
* If the mainstream media is afraid of speaking out against the TSA, it’s only because they’ve gotten used to simply regurgitating the spin fed to them by their precious government sources. [Popehat]
Congrats to Ronan Farrow and all the other members of the Forbes 30 Under 30 list.
* If this is what Forbes is publishing for its “30 Under 30 in Law & Policy,” then Above the Law should publish “20 Legal Leaders Under 20.” Look, here’s a college freshman who takes color-coded notes, keeps an extra raised hand in her purse, and has no womb — she’s a future SCOTUS justice! [Forbes]
I recently graduated from a state school in the California State University system as a Philosophy major. My original plan was to go to law school, but I am now thinking I may want to go into accounting instead (due to the terrible job market for lawyers and the 150k debt I’d be faced with).
Particularly, I would like to work at a Big 4 firm. Is this change possible?
— from a question sent into the advice column of Going Concern (the accounting world’s answer to Above the Law). Note the questioner’s less-than-stellar undergraduate GPA.
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 seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!