Biglaw

  • Magician pulling money out of hat on white background

    Biglaw, Bonuses, Money

    Associate Bonus Watch: WilmerHale’s Wily Ways?

    Is “merit-based” compensation just a poorly disguised way for a law firm to lower total compensation costs?

    15 Comments / / Jan 26, 2015 at 5:33 PM
  • Watch out

    Biglaw, In-House Counsel

    Fixed-Fee Deals: 3 Traps For The Unwary

    Fixed-fee deals can be great — but watch out for these possible pitfalls, identified by in-house columnist Mark Herrmann.

    5 Comments / / Jan 26, 2015 at 11:11 AM
  • Deflate-Gate. NFL football deflated on the field

    Morning Docket

    Morning Docket: 01.26.15

    * Senate Republicans are contemplating abolishing filibusters for SCOTUS nominees. This could go one of two ways: it could work out nicely for them, or explode in their faces. It’s like a choose your own adventure game. [POLITICO]

    * When it comes to the upcoming gay marriage cases before SCOTUS, “[e]very lawyer involved will want to argue.” Remember, when you’re given the chance to make history, you better hope that you’re on the right side of it. [National Law Journal]

    * “[I]f there is one decision I would overrule, it is Citizens United.” Even RBG thinks this campaign finance decision is one of the Supreme Court’s “darkest hour[s].” [Salon]

    * SCOTUS refused to stay Charles Warner’s execution, but it agreed to grant cert on his lethal injection case days after his death. Better late than never? [New York Times]

    * The NFL has drafted Ted Wells of Paul Weiss to blow up the absurd controversy that is “Deflategate.” Come on, who cares if the Patriots cheated again? [WSJ Law Blog]

    * Do you know any chronic Biglaw firm-hoppers? How many firms are too many to lateral to? Three? Five? Seven? Jesus Christ, for this guy, try 10 firms. [Am Law Daily]

    27 Comments / / Jan 26, 2015 at 9:09 AM
  • money1

    Biglaw, Bonuses, Money

    Associate Bonus Watch: A Firm Offering Associates DPW Bonuses… And More To Some

    Another bonus announcement. This one brings good news for a substantial number of associates.

    1 Comment / / Jan 23, 2015 at 2:19 PM
  • dollar bills

    Biglaw, Bonuses, Money

    Associate Bonus Watch: Yet Another Firm Offers Up ‘Insulting,’ Below-Market Bonuses

    This firm apparently decided to willfully ignore market trends and stick with the Simpson Thacher scale that was effectively done away with months ago.

    9 Comments / / Jan 23, 2015 at 12:45 PM
  • Preet Bharara: all out of f*cks?

    Morning Docket

    Morning Docket: 01.23.15

    * Preet Bharara, the U.S. Attorney for the Southern District of New York, was recently referred to as the “most dangerous man in American politics.” Why’s that, you ask? It’s because he’s “a federal prosecutor who doesn’t give a f*ck.” Damn straight. [BuzzFeed]

    * Just when you thought the Alan Dershowitz sex scandal couldn’t get any more intense, the investigative sleuths over at Gawker found flight records that allegedly place the professor as a passenger on a billionaire bad boy’s pedo plane. [Gawker]

    * Dewey know which former chairman of a failed firm had to beg to get a refund on his bail money because he couldn’t otherwise afford to pay the expert witnesses for his upcoming criminal trial? Aww. Poor, poor Steven Davis. [New York Law Journal]

    * Fried Frank’s chairman says that completely pulling the firm out of Asia was a “difficult but necessary decision.” On the other hand, an ex-partner at the firm says this move had basically been “inevitable” since at least 2009. Hmm. [Am Law Daily]

    * If you want advice on how to pick a “cost-efficient” law school, the first thing you should realize is that your scholarships may come back to bite you in the ass. Go on, read the fine print — after all, you want to be a lawyer. [U.S. News & World Report]

    35 Comments / / Jan 23, 2015 at 9:13 AM
  • sailboat sail away ocean sea sailing

    Biglaw, Travel / Vacation

    Departure Memo Of The Day: Sail Away, Sail Away

    After almost a decade in Biglaw, this associate is setting sail on a new adventure.

    24 Comments / / Jan 22, 2015 at 4:03 PM
  • Bruce Stachenfeld

    Biglaw, Job Searches, Law Schools

    Reinventing The Law Business: How To Select A Law Firm Out Of Law School

    What are the five things law students should be asking themselves when choosing a firm for their first job?

    / Jan 22, 2015 at 3:19 PM
  • Uhh... thanks for the bonus?

    Biglaw, Bonuses, Money

    Associate Bonus Watch: Firm Angers Associates With Low Bonuses (Outside New York)

    When the word associates use most often to describe how they felt after receiving bonuses from your firm is “livid,” you know you’ve got some changes to make.

    18 Comments / / Jan 22, 2015 at 12:05 PM
  • debt shackles

    Morning Docket

    Morning Docket: 01.22.15

    * Dentons is on the verge of finalizing a mega-merger that would make the combined firm the largest in the world, beating out even Biglaw behemoth Baker & McKenzie. Which law firm is Dentons wooing this time? [Wall Street Journal]

    * “We say law school is expensive, but it’s not expensive for everybody.” People who do poorly on the LSAT finance their classmates’ schooling, and thanks to this chart, now we know what the cost of a low LSAT score really is. [Bloomberg Businessweek]

    * Senate hearings for Loretta Lynch are scheduled to begin next week, but thus far, she’s only received eight letters in support of her nomination for AG. Eric Holder, who is apparently far cooler than she is, received tons of ‘em. Aww. [National Law Journal]

    * The next edition of the Am Law 100 will soon be released, but until then, Am Law is sating our desire for rankings with little tidbits of interesting information. This just in: Apparently Weil Gotshal posted a major, double-digit increase in PPP. [Am Law Daily]

    * Nixon Peabody has had the urge to merge for quite some time, and now the firm has finally found a willing partner. If everything works out, the firm will gobble up Ungaretti & Harris, and everyone will be a winner! [Crain’s Chicago Business]

    * “There is a large overhang of unemployed law graduates looking for jobs. Whether employers will hire them over 2015 grads is hard to predict.” Which is the lesser of two evils: dumber law grads or law grads with huge résumé gaps? [CBS News]

    19 Comments / / Jan 22, 2015 at 9:05 AM
  • Cadwalader Wickersham Taft CWT by David Lat

    Biglaw, Hedge Funds / Private Equity, Partner Issues

    Musical Chairs: A Major Move Out Of Cadwalader

    The revolving door spins again at Cadwalader, this time with a firm leader taking his leave.

    12 Comments / / Jan 21, 2015 at 5:33 PM
  • Pencil erasing an "error"

    Biglaw, Screw-Ups

    Mayer Brown & Simpson Thacher Make Epic Screwup

    Check out this tale of how an unwary paralegal ends up costing a bank millions.

    61 Comments / / Jan 21, 2015 at 3:03 PM
  • Wiz of Oz Munchkins

    Biglaw

    The Little People

    Let’s admit that a rigid social hierarchy exists at law firms — in fact, a very rigid social hierarchy.

    18 Comments / / Jan 21, 2015 at 11:15 AM
  • United States Capital

    Morning Docket

    Morning Docket: 01.21.15

    * Nothing is f*cked here, Judge: With first-class flights, alcoholic beverages, and hotel movies already nixed, lawyers who worked on the City of Detroit’s municipal bankruptcy case are now being forced to defend their multi-million dollar billables. [WSJ Law Blog]

    * “It’s important to have different perspectives in Congress. It really adds a lot to the mix.” That said, which law schools are the best at producing lawmakers? You may be surprised by some of the schools that made the list. [National Law Journal]

    * “Going to law school is still a great option,” says the dean of the University of Arizona James E. Rogers College of Law, a school whose 25th percentile LSAT scores dropped by six points year over year. Toss UA Law a pity application. [Daily Wildcat]

    * Per the defense in the Aurora movie theater massacre case, the prosecutor’s “insistence upon the death penalty certainly seems politically motivated” — that, or maybe James Holmes deserves the death penalty for killing 12 people. [ABA Journal]

    * By now, everyone’s heard of the woman who’s planning to “marry” her biological father and move to New Jersey. Believe it or not, incestual adult relationships are actually legal in the Garden State thanks to a legislative screw-up. [NJ Advance Media]

    17 Comments / / Jan 21, 2015 at 9:05 AM
  • tax law RF

    Non-Sequiturs

    Non-Sequiturs: 01.20.15

    * ♫If you wannabe happy for the rest of your life…♫ be a tax lawyer. After all, they’re like rock stars. [Vault]

    * Possibly the world’s most expensive sex. It doesn’t involve Ashley Dupré, but it does involve the American health care system. [Daily Telegraph]

    * A possible preview of Justice Alito’s upcoming dissent in the marriage equality decision. [The Onion]

    * Maybe on the more serious side, here’s Elizabeth Wydra charting the course of the Supreme Court and matrimony in anticipation of the upcoming marriage equality case. [Tampa Tribune]

    * Why Best Value is a better alternative to LPTA. This is not a guide for prospective law students, but it could be. [Government Executive]

    * A wide-ranging talk with Professor Khiara Bridges of Boston University School of Law about law, reproductive rights, and classical ballet. [Hsu Untied]

    * Let the breakdown continue: California’s out of state bar exam pass rates. [Bar Exam Stats]

    * The legal fiction that are Biglaw firms. [Think Outside the Bar]

    * Looking for some CLE in L.A.? On Thursday, Judge Alex Kozinski and our own David Lat will be chatting about judging, clerking, ethics, and ambition. [Supreme Ambitions]

    4 Comments / / Jan 20, 2015 at 5:01 PM
  • exterminator pest control bedbug infestation

    Biglaw, Boutique Law Firms, Small Law Firms

    Beyond Biglaw: What Can Lawyers Learn About Client Service… From Exterminators?

    As service providers ourselves, lawyers should think about why we choose the service providers we use in our personal lives — about what they do right to keep us loyal, and what they could possibly do wrong to make us look elsewhere.

    8 Comments / / Jan 20, 2015 at 10:04 AM
  • Uhh... thanks for the bonus?

    Morning Docket

    Morning Docket: 01.20.15

    * Fried Frank is closing down its Hong Kong and Shanghai offices because they were costing the firm more money than they were bringing in. What’ll happen to the lawyers who work there? Most of them will be huòdé dìyù. [Am Law Daily]

    * Not everyone can match the New York market when it comes to Biglaw bonuses. According to disputed rumors, associates in some practices of at least one Chicago law firm didn’t receive any bonus at all. Which firm? [Crain’s Chicago Business]

    * We often complain that women are getting the short end of the stick in Biglaw, but today we’ve got a nice little caveat. At some large law firms in at least one city, more women are making partner than their male counterparts. [National Law Journal]

    * UVA hired Pepper Hamilton to consult on its inept handling of sexual assault cases while O’Melveny & Myers deals with its Rolling Stone gang rape allegations. Collars shall be half-popped until the school gets serious about these issues. [Newsplex]

    * Whittier Law, home to one of the worst full-time, long-term employment rates in the country, hopes to give grads a “legal leg-up” with its new solo incubator program — because “[e]ducation and training doesn’t end when they graduate.” [Daily Pilot]

    * Wet Seal joined the ranks of teen retailers like Deb and Delia’s when it dumped lots of locations and filed for Chapter 11. New code provisions might’ve sped things along, but like, being a debtor-in-possession is totally uncool. [DealBook / New York Times]

    5 Comments / / Jan 20, 2015 at 9:07 AM
  • Kent and Jill Easter

    Morning Docket

    Morning Docket: 01.19.15

    * On Friday, the Supreme Court agreed to evaluate the constitutionality of same-sex marriage, and this is perhaps the definitive article on how the justices have been preparing the nation for marriage equality. Get ready for some big gay weddings this summer. [BuzzFeed]

    * Smile for the camera! Kent and Jill Easter, the infamous helicopter-parenting lawyers who went to jail for attempting to frame a volunteer at their son’s school on drug charges, found themselves at the center of a 20/20 story. [ABC News]

    * With it being highly likely that the Supreme Court will declare bans on same-sex marriage by the states unconstitutional, people are wondering which justice will be the one the vote hinges upon. Could it be Chief Justice Roberts? [New Republic]

    * Come on now, the swing vote in the same-sex marriage cases will obviously be Justice Kennedy. The legal tea leaves have been read, and with his majority opinions in Romer, Lawrence, and Windsor, the future has been foretold. [WSJ Law Blog]

    * Steven Metro, the former managing clerk of Simpson Thacher’s New York office, was finally indicted after being charged with insider trading almost one year ago. If you’re interested, flip to the next page to see the juicy indictment. [Am Law Daily]

    * In a new report, the Texas attorney general’s office concluded the forgivable faculty loan program at UT Law not only violated school rules, but also “set into motion a lack of transparency that ultimately led to a lack of accountability.” [Texas Tribune]

    https://www.scribd.com/doc/252991700/Indictment-U-S-v-Steven-Metro

    7 Comments / / Jan 19, 2015 at 9:00 AM