Ladies, you’re very busy. Billable hours come first, and you have no social life to speak of. If only there were a service that would allow you to rent some male companionship for less than your hourly rate.
Don’t worry, because one of your former colleagues out in the trenches has got your back. She started a business to bring lonely women “handsome, smart, and talented men on demand” — it’s like Seamless, but with a penis.
Who is this wonderful woman and which Biglaw firm does she hail from?
* Being a former partner of a firm that’s flopped ain’t easy. Ex-Howrey partners find themselves haunted by the failed firm’s “phantom” funds, and now they’re going to court to fight their tax liabilities. [Am Law Daily]
* Silly Cadwalader! You’re not the “oldest law firm in the United States.” Neither are you, Howard, Kohn, Sprague & FitzGerald. That title goes to Rawle & Henderson, a firm that’s been around since 1783. [ABA Journal]
* If you’d like to work at a firm that’s being touted for its anti-Biglaw culture, you might want to take a look at Tandem Legal Group. You won’t ever have to wear a tie at this “fun” and “cool” place. [Washington Post]
* Jason Bohn, the Florida Law grad accused of murder — who also happens to be the guy who was once featured in an NYT article about the perils of law school — has apparently killed before. [New York Post]
* Nicki Minaj is being sued for $30 million by the man who once served as her “wig guru.” Having absolutely nothing to do with the case, imagine being so obscenely rich that you could employ a “wig guru.” [CNN]
* The Supreme Court has been “surprising[ly] silent” when it comes to how to apply Obamacare’s contraception mandate to religious non-profits. We imagine at least one justice will raise hell about it during their first judicial conference of 2014. [Los Angeles Times]
* Contrary to what was apparently popular belief by some, Justice Sonia Sotomayor doesn’t wear dentures. She was very candid about her oral hygiene at a recent speaking event — her teeth are so great because she’s had a lot of work done on them. [Washington Post]
* In your face, Cravath! James Woolery is movin’ on up to officially taking the rein at Cadwalader Wickersham & Taft. Fun fact: Chuck Woolery of “Love Connection” is his distant cousin. [Am Law Daily]
* The U.S. Attorney’s office Chris Christie used to be in charge of will investigate Bridgegate. Word on the street is that the governor had just finished reading War and Peace when he heard the news. [Bloomberg]
* Sumner Redstone donated $10 million to Harvard Law School so that its graduates can pursue public interest careers — because otherwise they’d be too poor to “build a better world.” [National Law Journal]
This is the latest in a new series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes. This infographic is brought to you by our friends at Prestige Legal Search. Earn another $5,000 to $50,000 with their Rewards Program.
For the most part, Biglaw associate bonuses remain stuck at last year’s levels, reflecting expectations that firm profits will be flat at best. This might seem fair, with everyone feeling the pinch of the “New Normal” and so on. But when we take a small step back and see how these bonus numbers compare as a percentage of partner profits to the bonuses of just a few years ago, these bonuses are arguably pretty measly.
The current $10,000 “market” (i.e., Cravath-following) rate for first-years is just 0.29% of Cravath’s profits per partner (according to the American Lawyer). Back in 2007, first-year bonuses equaled 1.36% of PPP. In other words, the Cravath partnership was nearly five times more generous to its associates back then.
Obviously, Cravath is among the most profitable firms in the world. What are the implications of matching Cravath’s bonus scale for those firms with much lower profit margins? Today’s infographic takes a look at how big a hit to PPP partners willingly take in order to Keep Up With The Cravathians….
Happy Monday, everyone! What better way to start a new week than to bring you more bonus news?
As it turns out, Willkie Farr and Shearman & Sterling weren’t the only firms to participate in the Friday afternoon bonus dump. Two more firms broke word of their bonus intentions before the weekend, and now the question on everyone’s minds is whether they bucked the system and beat Cravath.
We’ve got the announcements from Cadwalader and Proskauer Rose for your viewing pleasure. Did either firm have the guts to top Cravath’s market rate?
One of the more entertaining SNL skits ever was “The Ladies Man.” Tim Meadows portrayed “Leon Phelps,” a call-in show host with all the right (read: cheesy and/or sketchy) answers for your romantic queries.
And then it followed SNL tradition by becoming a really awful movie. Sigh.
But perhaps the tradition of Leon Phelps lived on in a Biglaw mailroom, where allegations have surfaced that a supervisor might have penned erotic poetry to woo an underling.
Let’s crack open a bottle of Courvoisier and check it out…
* Size matters when it comes to hourly rates. Because when you work in Biglaw, it’ll be all the more odious for your poor clients when you “churn that bill, baby.” [Corporate Counsel]
* Would you want this Cadwalader cad, a former mailroom supervisor, at your “erotic disposal”? The object of his affections didn’t want him either, and she’s suing. [New York Daily News]
* In the wake of the George Zimmerman verdict, the NAACP is pressing for federal charges and a civil suit may be in the works. This trial isn’t over in the court of public opinion. [Bloomberg]
* This experience inspired George Zimmerman, fresh off his acquittal, to go to law school to help the wrongfully accused. If it makes you feel better, when he graduates, he’ll be unemployed. [Reuters]
* Here’s the lesson learned by Prop 8 proponents: If at first you don’t succeed at the Supreme Court, try, try again at the state level and base your arguments on technicalities. [Los Angeles Times]
* You do not want this patent troll — one of the most notorious in the country — to “go thug” on you. Apparently this is just another danger of alleged infringement in the modern world. [New York Times]
* Asiana Airlines is considering suing the NTSB and a California television station over the airing of “inaccurate and offensive” information (read: wildly racist) about the pilots of Flight 214. [CNN]
* Ariel Castro was slapped with an additional 648 counts in the kidnapping case against him, bringing the total to 977. Prosecutors are not yet seeking the death penalty. [Cleveland Plain Dealer]
It’s just nice clothing. There’s nothing to be afraid of.
Are you afraid of fashion? You’re not alone.
Many male lawyers would rather not deal with picking clothes. These attorneys can negotiate billion-dollar deals or address juries without fear, but the concept of “business casual” fills them with terror.
If you count yourself among the fashion-impaired — or if you see yourself as stylish, but in need of a wardrobe expansion — here are two lawyers who can help….
* New York Mayor Michael Bloomberg commissioned a report on SDNY Judge Shira Scheindlin in advance of her ruling on the NYPD’s controversial “hey, you’re black, come get a pat down” “stop-and-frisk” policy. According to the report, Judge Scheindlin is biased because she ruled against the NYPD in search and seizure cases 60% of the time. An alternative read is that the NYPD is really bad at following the Constitution. Occam’s Razor strikes again. [New York Daily News]
* STRIKE!: Legal Services NYC walked off the job this morning after rejecting new contract offers. [New York Law Journal]
* Pentagon Papers lawyer James C. Goodale thinks President Obama, whose administration seized phone records of journos, is worse than President Nixon, who tried to charge the New York Times for conspiracy to commit espionage. Because hyperbole is the awesomest thing in the world! [New York Observer]
* Tennessee law grad and judicial affairs director fired amid allegations she hooked up with Tennessee basketball player Trae Golden. [MStars News]
* After revelations earlier that Arkansas wasn’t “buying American” and instead getting its death penalty drugs from the UK, the pharmaceutical company announced it would cut off the supply, joining a number of drug companies that are practically slowing executions around the country by limiting supply. [YubaNet]
* After the post, check out the Biglaw firm using 4square way too much…
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!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.