* Maybe things are getting better. Per the latest Law Watch Managing Partner Confidence Index, Biglaw partners have shown an uptick in confidence in the first quarter of 2014. [Am Law Daily]
* Thanks to this ruling, Chevron can sue Patton Boggs over claims it engaged in fraud during the Ecuador case. Don’t worry, we’re sure the merger with Squire Sanders will be just fine. [Reuters]
* Dewey know how much the latest clawback suit seeks from this failed firm’s ex-COO? About $9.3 million, for his “astronomically generous” employment contract. [WSJ Law Blog (sub. req.)]
* No more “unfounded” filings for this unfound plane: A firm’s attempts to get documents from Malaysian Air to file a possible lawsuit have been thwarted by a judge, with the possibility of sanctions. [Bloomberg]
* When your “concerned uncle” is writing to a pre-law adviser about your future when you haven’t even gone to college yet, you know you’re probably destined to be a gunner. [Law Admissions Lowdown / U.S. News]
If you’re a former Supreme Court clerk, the legal world is your oyster. In the words of one observer, “Supreme Court clerkships have become the Willy Wonka golden tickets of the legal profession. So many top-shelf opportunities within the law, such as tenure-track professorships and jobs in the SG’s office, [are] reserved for members of the Elect.”
If you work at a hedge fund, maybe after a stint at Goldman Sachs or a similarly elite investment bank, you’re the Wall Street version of a SCOTUS clerk — at the top of the field, but with way more money. There aren’t many Lawyerly Lairs out there that cost $60 million (the cost of hedge fund magnate Steve Cohen’s new Hamptons house).
What could lure four high-powered lawyers and hedge-fund types, including two former clerks to the all-powerful Justice Anthony Kennedy, to leave their current perches? How about the chance to earn the kind of money that would make a Supreme Court clerkship bonus look like a diner waitress’s tip?
In May 2006, then-Judge J. Michael Luttig made major news in the legal world by resigning from the U.S. Court of Appeals for the Fourth Circuit to become senior vice president and general counsel of aerospace giant Boeing. Luttig served as a Fourth Circuit judge for almost 15 years, during which time he reigned as the #1 feeder judge, sending almost all of his clerks into Supreme Court clerkships, and came extremely close to becoming a justice himself.
Luttig’s resignation from his life-tenured Fourth Circuit judgeship came as a shock to many (and was viewed by some as “taking his toys and going home,” after he got passed over for the SCOTUS seats that ultimately went to John Roberts and Samuel Alito). But Luttig, who’s only 56 — he was appointed to the Fourth Circuit at the tender age of 37 — seems to be enjoying the new challenges of serving as GC of a large public company.
During his four years at Boeing, Luttig has given its in-house ranks a major makeover. He has brought in some top talent, including at least four Supreme Court clerks: John Demers (OT 2005/Scalia), Grant Dixton (OT 2000/Kennedy), Brett Gerry (OT 2000/Kennedy), and Jake Phillips (OT 2004/Scalia). Is there any in-house legal department with more former Supreme Court clerks than Boeing? Don’t forget to count Luttig himself, who clerked for Chief Justice Burger (OT 1983), after clerking for then-Judge Scalia on the D.C. Circuit.
UPDATE: Boeing boasts at least eight (8) SCOTUS clerks. Here are three who were inadvertently omitted from the original version of this post: Bertrand-Marc Allen (OT 2003/Kennedy), Lynda Guild Simpson (OT 1984/Powell), and Eric Wolff (OT 2000/Scalia).
And Luttig has given his net worth a makeover, too. At the time of his May 2006 resignation, federal circuit judges earned $175,100 a year. As executive vice president and general counsel of Boeing — the country’s largest aerospace and defense company, #28 on the Fortune 500 — he makes millions.
Luttig no longer has to worry about covering college expenses for his two kids (which he cited in his resignation letter as a reason for leaving the bench). And this past May, he and his wife, Elizabeth Luttig, bought a fabulous second home in beautiful Kiawah Island, South Carolina.
How much did Mike Luttig pay for his new place? And how does the price tag compare to his in-house compensation at Boeing?
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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: email@example.com.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.