I wasn’t surprised at all. I’ve lost so much of my health trying to prove this connection. As a journalist, I felt satisfied. I could finally prove the theories I had put forward. As a man, I felt I had been lied to. I was holding in my hand proof. It was the feeling of a scientist who has proven his theory with evidence.
– Serhi Scherbyna, the editor of The Insider, upon the discovery of documents revealing what he called “irrefutable proof” linking a coal trading enterprise that won billions in government contracts to the company that managed the Ukrainian presidential estate. These documents, discovered in the abandoned residence of the deposed prosecutor general, Viktor Pshonka, included an early draft of a Skadden Arps report marked up by Ukrainian officials pushing for even more sympathetic treatment of the trial against Prime Minister Yulia V. Tymoshenko.
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
The “Legal” world versus the “legal” world. The actual practice of law versus the construction of practices and firms. These are diametrically different disciplines, and while the demand for “Legal” work influences the “legal” world phenomenon of lateral hiring, many other market conditions dictate demand and compensation for partners.
Partners are often sequestered from the tedious details of the lateral market and, consequently, they often undersell themselves to firms and subsequently become underpaid. If you’re a partner looking to make a move, here are 5 beginner’s tips to maximize your lateral partner compensation package:
For the past eight years, the National Association of Women Lawyers has tracked women’s progress at the 200 largest firms in the nation by comparing their careers and compensation with similarly situated men. We snidely remarked last year that reviewing the most recent report was like “drinking a fifth of gin, then watching Requiem For A Dream: it’s really freaking depressing.”
Keeping that in perspective, we — perhaps over-optimistically — thought that in a year’s time, Biglaw firms would have realized that women have a rightful place in this profession, and deserve to be treated as fairly and as equally as their male counterparts. We were clearly and painfully delusional.
Sure, the percentage of female equity partners rose from 15 percent to 17 percent, and that’s great. But we’ve found out that an “unprecedented” number of Biglaw firms refused to participate in the survey. Was it because they’re sick of surveys, or was it because firms “are generally less interested in the subject of advancing women lawyers and/or are hesitant to share, even on an anonymous and confidential basis, statistics that show that their women lawyers lag behind their male counterparts”?
* Of course there’s a gender pay gap in Biglaw, but none of the firms are going to tell you about it. We’ll be discussing the results of the annual National Association of Women Lawyers survey later today. [ABA Journal]
* In case you’ve been sleeping under a rock, Texas struck down its ban on gay marriage, but stayed the ruling pending appeal. Seriously, of all places, this happened in Texas. Yeehaw! Ride ‘em, cowboys! [New York Times]
* New Mexico Law didn’t like what it found after auditing its SBA’s off-campus bank account. FYI: the SBA apparently isn’t supposed to spend money on bars, liquor, and restaurants. Who knew? [Albequerque Journal]
* “I don’t want to pay for someone else’s peculiar behavior.” Amanda Knox’s ex-boyfriend, Raffaele Sollecito, is changing his tune about his former flame as their appeal date gets closer and closer. [CNN]
A lawsuit filed earlier this month has raised the ire of several leading lawyers and legal bloggers. Noted First Amendment attorney Marc Randazza — a panelist at our Attorney@Blog conference, by the way — describes the case as “truly disgusting.” Ken White of Popehat, another prominent commentator on the legal profession, calls the suit “despicable” and “thoroughly contemptible,” writing that he “cannot remember a lawsuit that so immediately repulsed and enraged.”
Let’s find out what all the buzz is about. Which law firm filed this controversial complaint, what is the case about, and how bad is it?
We’ve seen this story before. A firm experiences a dip in profitability, then starts losing key partners (or reverse the order if you like; falling profits and defecting partners go hand in hand). Worried about its survival, the firm starts seeking out a white knight, in the form of a merger partner. And then….
Well, that depends. Sometimes a merger partner is found and the combined firms live happily ever after. Sometimes a merger partner is found and the combined firms suffer together, with the weaker firm effectively giving the stronger firm the “cooties.” And sometimes no merger partner is found at all; the troubled firm goes down, and rival firms swoop in like vultures to pick off the top practices and rainmakers. We can all think of examples of each scenario.
Sometimes the people we write about have reached a point in their lives when their cords to reality have snapped. It wasn’t always like this. They once had the capacity to attend and graduate from Ivy League schools and hold down employment at some of the most elite law firms on the planet. Their résumés were gleaming, as were their personalities. Now, they’re the subjects of criminal investigations.
Take, for example, the case of Claire Kennedy Ogilvie. She attended Yale University and George Washington Law, and then snagged a position as a patent attorney at Foley & Lardner. Once she decided she’d had enough of her litigious lifestyle, she quit and became a teacher.
And then, something happened. Ogilvie is currently being held without bond at the Albemarle Charlottesville Regional Jail on charges of burglary, abduction, and malicious wounding, all felonies, after allegedly breaking into a married man’s house and attacking his wife. Did we mention that this man is a major political player in Virginia?
If you’ve spent any amount of time doing document review I know you’ll find this scenario familiar.
An associate gathers the reviewers around for “feedback,” a simple word that drips with derision. You’d think the associate might actually be a 13-year-old girl told they can’t go to the mall there are so many eye rolls and sighs peppered through this allegedly constructive conversation. The crime you and your fellow doc reviewers stand accused of? Not properly applying one of the 15 issue tags to responsive documents. The horror. Never mind you are being asked to code 100+ documents an hour on a computer system that whines and chugs along at the effort of moving between docs. There is apparently a standard of perfection on this project and you and your fellow inmates have failed to make the grade.
This goes beyond the simple horrible boss phenomenon. But what is it about document review that seems to draw this ire?
* Two Biglaw firms and their even bigger revenue meltdowns: Patton Boggs and Bingham McCutcheon have posted the most dramatic revenue declines revealed thus far by Am Law. [Wall Street Journal (sub. req.)]
* Dewey know why this malpractice case is being brought against an ex-LeBoeuf Lamb partner? You know your case is screwed if one of the questions the judge asks you is “[W]hy are you here?” [Am Law Daily]
* Those who remain at Heenan Blaikie, the imploding Canadian Biglaw firm, are pretty “pissed off” they haven’t received word on their severance packages. So much for that “orderly wind down,” eh. [Law Times]
* Career alternatives for former Biglaw attorneys now allegedly include breaking and entering and assaulting state delegate’s wives. We’ll probably have more information on this juicy story later today. [NBC29 WVIR]
The prominent lobbying and law firm recently announced the closing of its office in Newark, New Jersey. Discussing the move with Politico, managing partner Edward Newberry said, “We’ve lit intentionally a forest fire, we’ve controlled that forest fire. While we’ve lost a few people over the last year, who are good friends and good partners, our firm is much stronger today than it’s been in a long time.”
The firm has lost “a few people” over the last year? How about roughly 100 attorneys, representing 20 percent of lawyer headcount, plus an unknown number of staff? With additional prominent partners said to be eying the emergency exits?
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…