Biglaw

The Am Law 100 average spread is 11.1 to 1.

* If you’ve been dying to know what the partner compensation spread looks like at your firm, then we’ve got your fix. Check out the insane 23 to 1 spread over at Perkins Coie. [Am Law Daily]

* “It’s a complete structural change, and it’s not going away. The end result is fewer graduates, and fewer law schools.” With enrollment still dropping, the end seems near. [Boston Globe]

* “I predicted the collapse of legal education, but I didn’t quite predict how bad it would be.” Dean Frank Wu of UC Hastings Law is fighting his way out of a rankings slump. Good luck. [The Recorder]

* Widener is the latest law school to roll out a solo / small firm incubator. Only grads from the class of 2014 may apply. Earlier grads are ineligible because they presumably have jobs… maybe. [PennLive.com]

* You may think Chief Justice Roberts and Justice Scalia are “stuck in the past” and “disconnected from the real world,” but you may be wrong. You can read Uncertain Justice (affiliate link), by Laurence Tribe and Joshua Matz, to find out why. [New York Times]

* A judge has denied bail for the Georgia man accused of sending sext messages during his seven-hour work day while his 22-month-old son was left to die in his hot car. Ugh, this is terribly sad news. :( [CNN]

River House

As we roll into the July 4th holiday weekend, it’s a good time for a Lawyerly Lairs post. What could be more American than great real estate? Great real estate once owned by a great American lawyer, in fact?

The River House is one of Manhattan’s most magnificent addresses. This elegant pre-war co-op, offering incredible views of the East River, has been rightly described as “one of the most luxurious, romantic and private apartment buildings ever built.”

As you can see from the building’s Wikipedia entry, its celebrity residents over the years have included Henry Kissinger and Uma Thurman. Legal eagles like Philip Bobbitt and Kermit Roosevelt [sorry, wrong Kermit Roosevelt] have also made their nests here. And this legal eagle, a Paul, Weiss partner whose penthouse is on the market for almost $15 million, might be the most high-flying of them all….

double red triangle arrows Continue reading “Lawyerly Lairs: A Powerful Paul Weiss Partner’s Penthouse — On Sale For $15 Million”

Justin Flowers

Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Justin Flowers is a Principal with Lateral Link. He oversees attorney placements (both partner and associate level) and client relationships with the top international U.S.- and U.K.-based firms in Asia, the Middle East and Emerging Markets. Justin also establishes and maintains relationships with firms new to the international markets in general, or to a specific market, who are in need of attorney placement services on an international level. In addition to his work in international markets, Justin also advises domestic U.S. boutique law firms on their strategic growth and hiring. He practiced law as a litigator for several years before becoming a recruiter. Justin earned a J.D. from NYU School of Law and an undergraduate liberal arts degree, cum laude, from the University of Oklahoma, where he attended the Honors College.

At the halfway point of the year, 2014 so far has been a perfect storm of big ticket corporate work, with the U.S. IPO market on record pace and global M&A activity surging to aggregate value levels not seen since 2007. This year’s torrid deal pace is already turning the normally relaxed summer months into a period of high recruiting activity.

No doubt about it, summer gets a bad rap as lateral seasons go. But whether or not you intend to take advantage of the current deal market driving demand, summer should be a time for action.

If you are considering a lateral move “early next year,” then there’s nothing to be done in the next couple of months other than take advantage of your firm’s renewed enthusiasm for the summer associate class, right? Wrong. Here’s why:

double red triangle arrows Continue reading “Summer Is Here: Time To Pack Your Bags And Lateral?”

Kevyn Orr, probably not an alien.

A couple weeks back we reported on the big hissy fit that Jones Day threw over Kevynorr.com, at the time a bare-bones website that promised to be a sarcastic look at former Jones Day partner Kevyn Orr’s “emergency management” of Detroit. Jones Day wrote themselves a nasty cease and desist letter.

The anonymous proprietor of Kevynorr.com is represented by the Electronic Frontier Foundation, and their lawyers drafted a scathing response calling out Jones Day’s disingenuous, bullying letter….

double red triangle arrows Continue reading “Remember Jones Day’s Hissy Fit C&D Letter? Here’s The Response!”

Lindsay Lohan

* Law firm mergers are on a record-setting pace, with 39 thus far in 2014. Just one “megamerger” was announced in the second quarter (Patton Boggs / Squire Sanders), but hey, we still have half the year ahead of us. [Am Law Daily]

* It hasn’t been a good week for the Thomas M. Cooley Law School. In addition to all of its enrollment woes, the Sixth Circuit affirmed the dismissal of its defamation suit against Team Strauss/Anziska. [National Law Journal]

* The doctors who spent the month of June evaluating Oscar Pistorius’s mental health found that he was depressed and posed a potential suicide risk. You’d feel the same if you were facing jail time. [CNN]

* Walgreens will give $180,000 to an ex-employee with diabetes as a settlement after the store fired her for eating a $1.39 bag of chips before paying to fend off a low blood sugar attack. [San Francisco Chronicle]

* Lindsay Lohan is suing Rockstar Games over an alleged character likeness in Grand Theft Auto V. To be fair, the character does kind of look like LiLo circa her “Mean Girls” days. [International Business Times]

On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”

Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.

But we wonder if there’s more to this story than meets the eye….

double red triangle arrows Continue reading “A Wachtell Lipton Partner’s Mysterious Departure”

Summer associates, do you think you understand how to avoid that no-offer? For a little fun (while you’re “working” oh-so hard) take the ATL Summer Associate Reality Check and test your historical knowledge of notorious summers who have gone before you. Also, learn what to do — and what *NOT* to do — in order to get that job offer.

(This challenge is brought to you in partnership with our friends at CredSpark.)

Take the ATL Summer Associate Reality Check here.

Ed. note: Please welcome Above the Law’s guest conversationalist, Zach Abramowitz, of blogcasting platform ReplyAll. You can see some of his other conversations and musings here.

For those lucky enough to get an offer from a Biglaw firm, you’re probably a few weeks into the decadence that is being a summer associate. And most of you are probably enjoying it. Sure, you’ve been told that once you’re a “real lawyer” you won’t spend your days being wined and dined, and your evenings attending concerts and improv classes.

But for those of you who may not think this whole corporate summer camp is all it’s cracked out to be, I’m here to tell you that you’re not alone. There are at least two other people in the world who share your sentiment. So sit back, relax, and enjoy this conversation with my former colleague Ethan Lutske — the one other person I could find willing to go on the record about how being a summer associate sucks. And if anyone asks, just do what you’ve been doing for the last three weeks and bill your time to “Legal Reading.”

double red triangle arrows Continue reading “Why We Hated Being Summer Associates”

* The New York Court of Appeals put the hurt on defunct firms seeking unfinished business fees from former partners who left for greener pastures. Sorry, I didn’t follow ATL protocol: “Dewey think firms should collect unfinished business fees?” [WSJ Law Blog]

* We reported on the Tinder lawsuit yesterday. Here’s a collection of all the messed up texts involved. [Valleywag]

* Facebook’s lawyer is now calling the emotional manipulation study it recently conducted “customer service.” Dear Internet: Despite all your rage, you’re still just rats in a cage. [The Atlantic]

* So if you’re studying for the MPRE, blow jobs aren’t the preferred legal fee. [Legal Profession Blog]

* How did your last cell phone bill look? Because the FTC says T-Mobile knowingly added hundreds of millions of charges on. At least that girl in pink was cute, huh? [USA Today]

* BNP Paribas is confident it can pay its record fine. [Dealbook / New York Times]

* Meanwhile, Putin accused the U.S. of trying to use the BNP fine to blackmail France into turning its back on Russia. Because conspiracy theories are awesome. [Bloomberg]

* Lawsuit filed because right-wingers totally miffed that black people voted for a Republican. [Sun Herald (Mississippi)]

For about three years now, we have been conducting the ATL Insider Survey through which our audience members share their insights and experiences regarding their own employers and schools (or alma maters). From the data we’ve collected, we have created a slew of content, including our Law Firm and Law School Directories. Many thanks to the approximately 17,000 (and counting!) of you who have responded.

Today, we launch a different sort of survey, one where we ask you to look outside your own organization and share your opinions about other law firms. Who do you respect? Who do you fear? Who are you secretly happy to see on the other side of the table?

The ATL Law Firm Reputation Survey asks those of you working in law firms to rate your peers and competitors. We look at “reputation” as having two distinct aspects: 1) the reputed strength and quality of a firm’s practice, and 2) the desirability of the firm as a potential employer. Of course, these two aspects may or may not be closely connected, depending on an individual’s perspective. Does “culture” matter or is it all about “prestige”? You tell us.

Our survey will present you with a couple of (short, randomized) lists of firms for you to rate on both these points, tailored for your geographic location.

Take five minutes and take our survey here. Thanks!

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