Akin Gump

Yesterday, the Senate Judiciary Committee approved the nomination of Akin Gump’s Patricia Millett to the D.C. Circuit. Her nomination now moves on to the full Senate.

The committee voted 10-8 to approve Millett’s nomination. Take a guess what all the voters had in common? Yes, the 10 Democrats voted “Aye” and the 8 Republicans voted “Nay.” Yet even while voting her down, the Republicans went out of their way to note that Millett was qualified for the post, but opposed her on the bogus argument Senator Grassley has been pushing that the D.C. Circuit is “underworked.”

During the hearings, Senator Grassley cited two anonymous letters, presumably from D.C. Circuit judges, to support his stance. Sounding very “Secret Plan to End the Vietnam War,” the anonymous poll felt very unscientific and shady.

Now we’ve got a hold of the secret survey Grassley sent judges. It’s as entertaining as his Tweets

double red triangle arrows Continue reading “D.C. Circuit Underworked, Say Anonymous Letters Possibly From Federal Judges”

Law school’s epitaph?

* Hiring a Supreme Court clerk might not be worth a $500,000 gamble for some Biglaw firms. Some will take that sweet sign-on bonus and remove their golden handcuffs before a year is out. [Capital Comment / Washingtonian]

* Akin Gump partner and D.C. Circuit nominee Patricia Millett won approval from the Senate Judiciary Committee by a margin of 10-8 along party lines, and now her nomination will head to the full Senate for a vote. [Huffington Post]

* President Obama nominated Michelle Friedland and John Owens, two young Munger Tolles & Olson partners, for seats on the Ninth Circuit. If confirmed, that’ll make three partners from the same firm on the bench. [The Recorder]

* Sorry, law firms, but it’s no longer cool to inflate hourly billing rates for contract attorneys when you pay them substantially less. You can thank Ted Frank for this judicial revelation. [WSJ Law Blog]

* The ABA Task Force on the Future of Legal Education thinks that just about everything having to do with law schools is “deeply flawed” and needs “serious re-engineering.” How comforting. [ABA Journal]

* Law School Transparency is willing to assist schools with the reporting of their ABA post-graduation job placement statistics, for a price. How much is integrity worth these days? [National Law Journal]

* For $25K, Casey Anthony’s bankruptcy trustee won’t make her sell the worldwide rights to her story — like her theory of the crime she was acquitted of, it “exists solely within [her] mind.” [Sun-Sentinel]

* The cop who became a global internet meme for pepper spraying protesters at Berkeley Davis is now appealing for worker’s comp, arguing that he suffered psychiatric injury. Pray for him. [Lawyers, Guns & Money]

* Ariel Castro has pleaded guilty. Professor Douglas Berman suggests that the death penalty may have made this possible. An alternative theory is that Castro doesn’t think being locked up in a tiny space for years on end is all that bad. [Sentencing Law and Policy]

* Navigating the archetypes of expert witnesses based on The Office. [The Expert Institute]

* Lawyer arrested for bringing meth into a courthouse. I’d say “better call Saul,” but this sounds more like something Saul would do. [Press Democrat]

* An Akin Gump partner, James Meggesto, is in hot water for Tweeting his disdain for a congressman and a Native American chief. For the record, when a tweet opens with “Resisting urge to tweet…”, you’ve failed. [Politico]

* This story actually reminds me of the plot to the new BSG series — a networked house can easily be hacked by cylons. Or in this case, Kashmir Hill. [Forbes]

* New York’s energy regulations are increasing demand for energy-efficient solutions. The most efficient thing about my apartment is finally getting a break in the heat. [Breaking Energy]

In discussing the recent news of Akin Gump overhauling its partnership capital structure, I sounded some generally positive notes. I echoed the thoughts of Akin Gump’s chair, Kim Koopersmith: “We thought it made sense to have everybody have skin in the game.”

But there are less sanguine ways of assessing the situation. Are the non-equity partners who will be converted into equity partners putting skin in the game, or are they getting skinned?

double red triangle arrows Continue reading “Some Additional Thoughts on Law Firm Partner Capital”

If you’re a law firm managing partner, the captain of a Biglaw ship, have you done all that you can to make sure your vessel is as seaworthy as possible? You don’t want your ship to suffer the fate of the S.S. Dewey.

Some steps are easy and obvious. Conduct layoffs of unneeded associates, whether openly or stealthily. Offer buyouts to surplus support staff (or lay them off, if feeling less generous). Usher underperforming partners towards the exit, to lower the denominator for your profit per partner figure; keeping PPP high reduces the likelihood of crippling defections and helps you attract star laterals.

Those are the basic moves, which everyone is doing. For something that’s a little more challenging, a maneuver that might even impress the East German judge in its level of difficulty, you can play with your partnership capital structure….

double red triangle arrows Continue reading “Akin Gump Overhauls Its Partnership Capital Structure”

* Apple has lost the e-books trial. Didn’t see that coming after Apple’s lawyers ripped the government’s witnesses. [New York Times]

* Vault released its Regional and Practice Area rankings. Yeah, we get it Wachtell, you’re awesome. [Vault]

* Who ever said losing at the Supreme Court was the end? Myriad is suing to enforce its patents in the BRCA1 and BRCA2 genes. [Patently O]

* Woman caught on camera planning her husband’s murder because it’s “easier than divorcing him.” Fair enough! [Lowering the Bar]

* Senators pledging to block court nominee “irrespective of [her] very fine professional qualifications.” Oh. [The Blog of the Legal Times]

* Some jurisdictional nerdiness regarding EPIC’s original filing seeking mandamus, prohibition, or certiorari from SCOTUS to review a FISA judge. [Lawfare]

Sarah Jones

* Akin Gump partner Patricia Millett is willing to take a whopping pay cut to serve on the D.C. Circuit — from $1MM to $184K — and for that alone she should be confirmed ASAP. [National Law Journal]

* With the number of law firm mergers in the last six months alone, we’re on a “potentially record-setting pace” for 2013. Hey, look at it this way: it’s cheaper than hiring and firing laterals. [Am Law Daily]

* Three years later, the epic litigation between Debevoise & Plimpton and a former client continues to rage on. Now, allegations are being tossed around about a partner’s behavior. [New York Law Journal]

* According to the Bureau of Labor Statistics, in June, the legal industry lost more jobs than it has in a single month since June 2011. Congrats, Class of 2013! welcome to the real world. [Am Law Daily]

* In its defense, Standard & Poor’s claims its ratings were puffery, and that no reasonable investor would rely on them. Aww, poor widdle “sophisticated consumers of [investment information].” [Bloomberg]

* For those of you practicing personal injury law in New York, this case is a bombshell. If you want to put the whole insurance industry on trial, follow the action here. [New York Personal Injury Law Blog]

* Sarah Jones, the ex-cheerleader who sued TheDirty.com for defamation, was back in federal court yesterday for the beginning of her case’s retrial. What a way to start an engagement. [ABC News]

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….

double red triangle arrows Continue reading “Are The Weil Layoffs The Start Of A Biglaw Trend?”

Those working in the Biglaw world may think they’re living lifestyles of the rich and famous, but their prestige pales dramatically when compared to those working in the glittery world of Hollywood glamour. Let’s face the facts: rainmaking aside, being a behind-the-scenes ERISA or tax practitioner is nowhere near as fabulous as keeping Lindsay Lohan out of jail. Representing celebrity clients will catapult your name into the news and turn your practice into a household topic of conversation.

Those behind the entertainment law bar have worked with some of the most celebrated (and sometimes reviled) clients in the country, and in most cases, the world. Obviously, there should be some sort of a ranking to evaluate the top talent from this Hollywood throng of attorneys.

Luckily, the Hollywood Reporter has been in the rankings game for seven years, and this year’s list is no less entertaining than last year’s. Let’s check out the newly released list of the entertainment industry’s top 100 “power lawyers,” which we’ve dubbed the Hollywood 100….

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On yesterday’s post about layoffs at a major international law firm, one of my favorite commenters, “Successful Troll,” took note of our stock photo for such stories: “I feel sorry for the pretty blond woman in the picture. It seems she keeps going from firm to firm being laid off — probably 20 times already this year.”

It was funny, but also depressing. How much longer can layoffs, especially staff layoffs and “stealth” layoffs of lawyers, go on? Who is left to be laid off? Where are laid-off employees of law firms supposed to look for new jobs, in an environment in which it seems that all firms, including some very elite ones, are cutting headcount?

For now, these questions remain unanswered. Today we have more layoff news for you….

double red triangle arrows Continue reading “Nationwide Layoff Watch: Feeling the Pain at Akin”

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