As we mentioned last week, the American Lawyer recently released its highly influential, closely watched Am Law 100 law firm rankings. And despite all the doom and gloom permeating the legal profession, as well as the stagnant bonuses for associates lucky enough to make it into Biglaw, partners at large law firms are living just as large as ever.
In a way, the recovery in Biglaw is not unlike the recovery in America in general. If you were already well-off, you’re doing great now. It’s just not trickling down to anybody else. See, e.g., anemic spring bonuses.
Interestingly enough, the division of the world into “haves and have-nots” continues even into the world of major law firms. Partners at super-top-tier firms are putting even more distance between themselves and partners at less high-powered or less profitable firms.
* The Supreme Court heard arguments yesterday in a lawsuit asking courts to force major companies to reduce greenhouse gas emissions. Sotomayor spent the entire oral argument asking attorneys how she could fit more Miami Sound Machine on her Zune. [New York Times]
* Louisiana Governor Bobby Jindal, who can be seen every Thursday night on 30 Rock playing Kenneth the Page, shares none of Jan Brewer’s qualms about a “birther bill.” [Politico]
* The Ecuadorean Slapfight (also the name of my ska band in high school) between Patton Boggs, Gibson Dunn, and Chevron was squashed by a judge yesterday. [Reuters]
* Tiger Blogger Vivia Chen wants white guys to be hunted like animals. [The Careerist]
* A copyright troll has found a way to exact a toll without actually owning any copyrights. No word yet on whether anyone has gained entrance into the boy’s hole. [Wired via ABA Journal]
* Alleged Wikileaker Bradley Manning is being transferred to another prison. Julian Assange celebrated the news by going dancing. [Fox News]
* Sponsors of Proposition 8 are mad that retired judge Vaughn Walker, who presided over Prop 8′s defeat in court, is giving lectures around the country that feature a three-minute clip of the trial. They say the video should remain in the closet. Or a desk drawer of some sort. [Los Angeles Times]
Mark Madoff, the oldest of Bernard Madoff’s two sons, committedsuicide on Saturday, by hanging himself in his Manhattan apartment. Saturday was a significant day: the second anniversary of Bernie Madoff’s arrest for running a multibillion-dollar Ponzi scheme.
Mark Madoff’s lawyer, prominent Paul Weiss partner Martin Flumenbaum, issued a statement yesterday: “Mark Madoff took his own life today. This is a terrible and unnecessary tragedy…. [Mark Madoff was] an innocent victim of his father’s monstrous crime who succumbed to two years of unrelenting pressure from false accusations and innuendo.”
Flumenbaum wasn’t the only powerful Paul Weiss personage named “Martin” with involvement in this case. Mark Madoff’s body was actually found by legendary litigator Martin London, a longtime partner at the firm who is now of counsel at PW.
As noted on his Paul Weiss website bio, “[t]he gamut of Mr. London’s successes is vast.” But his experience is primarily on the civil side, with occasional forays into white-collar criminal work. His docket generally doesn’t include violence and death; he’s not the kind of lawyer who sees dead people (e.g., a homicide prosecutor).
If someone told you they had a $14,500,000 inheritance from their father stuck in a bank account in Burkina Faso, you would likely laugh in their face and offer them some Viagra and a penis enlarger in exchange for a slice of the fortune.
But what if they told you this while you were sitting in a conference room of a corporate law firm, and the person was flanked by Baker Hostetler attorneys who vouched for the legitimacy of the African fortune?
Under those circumstances, a group of Ohioans invested over one million dollars to help Willia Burton recover her supposed windfall from a foreign bank account. But it’s been five years, and it’s become evident that — sur-freaking-prise! — it’s actually a scam.
Now the nine gullible investors are suing Burton and her Baker Hostetler lawyers, William Culbertson and Paul Feinberg, for fraud, civil conspiracy, and negligent misrepresentation.
Unfortunately, there’s no claim to be made for the public humiliation they shall now suffer for falling for a “Nigerian bank account scam”…
Just after 11:00 a.m. today, President Obama will sign health care reform into law. Very soon after that, the constitutional challenges will begin. And two Baker Hostetler partners want to lead the charge. The National Law Journal reports:
David Rivkin Jr. and Lee Casey argued for months that the health care overhaul under consideration in Congress was unconstitutional. Now, the two Baker Hostetler partners will have a chance to make the case in court.
Rivkin and Casey, who work in the firm’s Washington office, have signed on as outside counsel to several state attorneys general who want the legislation overturned in court. The litigation is the initial wave of what is expected to be a long series of lawsuits challenging various pieces of the overhaul, which won final congressional approval Sunday.
Does Baker Hostetler really want its name all over this? On the one hand, Bush v. Gore made Ted Olson and David Boies big stars. On the other hand, do you really see SCOTUS overturning major health care reform on constitutional grounds? I don’t. I just don’t see how the Court takes this opportunity to stop the relentless expansion of the interstate commerce clause by overturning the most contentious public policy issue of our generation.
Which kind of leaves Baker Hostetler holding the bag for what may be interpreted as purely partisan lawyering…
Professor Joel P. Trachtman (JD Harvard Law School) 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!
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: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!