It’s time to announce the winner of October’s Lawyer of the Month competition. Our readers had a motley crew of female lawyers behaving badly to choose from, and one male attorney who probably would have loved to keep company with them all.
But which kind of lawyer do our readers like the best? Drunk, naked, rich, or slutty ones? In this polling cycle, we learned that money can buy just about anything, except enough votes to win an ATL contest….
It seems like lawyers got a little wild last month, especially the ladies. In fact, our candidate pool for October’s Lawyer of the Month contest was mostly dominated by women. Score one for women’s equality in the legal profession, even if we’re out there embarrassing ourselves.
Only one of our candidates is a man, but given his choice in women, he’d probably love to be surrounded by all of these hot messes.
Last month, we offered you the sex, violence, and stupidity edition of the competition. We suppose you can call this one Lawyer of the Month: Drunk, Slutty, and Naked. Let’s check out our nominees for the month of October….
Well, today Ira Schacter is back in the news. He’s accused of refusing to pay for his teen daughter’s $12,000 hearing aids, while dropping $215,000 on a diamond engagement ring for his Playboy-bunny fiancée. If true, that’s pretty shoddy behavior — the very embodiment of cheapness, from a big-time Biglaw partner who can easily afford twelve grand.
But I know what you’re all wondering right now: “How hot is that Playboy-model fiancée?”
Last week, the American Lawyer shined a spotlight on extensive partner departures from McDermott Will & Emery. According to Brian Baxter of Am Law Daily, a whopping 38 partners have left MWE in 2011 so far.
But that explains just a quarter of the year-to-date partner departures from McDermott. Let’s look at some of the others, explore possible implications for the firm, and discuss what might be motivating the movement toward the exits….
The law firm of Orrick, Herrington & Sutcliffe continues to do battle with its former client, MGA Entertainment. It seems that the maker of Bratz dolls is still acting in bratty fashion, by not paying its legal bills, and Orrick has moved to withdraw from representing MGA. (This is not the first time that Orrick has tried to fire its difficult client.)
Fortunately, things are happier on the transactional side for Orrick. The firm just announced that it’s picking up five bank finance and high-yield partners, for its New York office.
The new arrivals come from four different places, including three firms whose names you will definitely recognize….
Big news out of New York today: Dennis Block, a leading mergers and acquisitions attorney, is on the move. Known for being extremely successful — but notoriously difficult to work with — Block is stepping away from Cadwalader, Wickersham & Taft and bringing his huge book of business to Greenberg Traurig.
This Brooklyn Law School graduate proves that you don’t need to go to a T-14 school to have a great career. Block has served as counsel on several big time affairs, including Pfizer’s $68 billion Wyeth takeover, and JPMorgan’s Bear Stearns buyout.
Let’s learn more about Block’s past, and see what Cadwalader has to say about this partner’s defection….
* Bob Morse announces that new jobs data may be used to change the methodology for calculating law school employment rates. Because Bob Morse has to do the ABA’s job for them. HIYOOOO! [U.S. News & World Report]
* And speaking of employment (or lack thereof), it looks like UDel and SUNY Stony Brook have given up their plans to build new law schools. Did they smarten up and start worrying about jobs like we do? [Washington Post]
* Joran van der Sloot: rolling his eyes at murder charges since 2005. More than a year after his arrest, he’s been charged with the murder of Stephany Flores. [CNN]
* Representing a private company, Cadwalader’s antitrust case against Google got tossed. Even Biglawyers can fail to meet their burdens of proof. [CNET]
* ‘Cause tonight we’re robo-signing like it’s 1999? Mortgage paperwork screw-ups aren’t as new as you think – they’ve been around since flannel was still cool. [Associated Press]
* Remember that Oscar de la Hoya lawsuit? The settlement allegedly included $20M in exchange for getting his heels and fishnets back. You can’t keep a good crossdresser down. [New York Post]
One of my favorite law firm names is Freshfields — Freshfields Bruckhaus Deringer, to be precise, but I prefer Freshfields. It makes me think of rolling green hills, crisp laundered linens, or a dairy, producing the creamiest milk in all the land.
As it turns out, Freshfields is a law firm — a top international law firm, a member of the elite Magic Circle. And this Freshfields is rolling out the green, doling out crisp bills, and ladling out the cream — to its associates. As reported earlier today by Am Law Daily, yesterday Freshfields announced spring bonuses, on the top-of-the-market Cravath scale.
Freshfields isn’t alone. This afternoon, Cadwalader, which was publicly toying with the idea of spring bonuses, announced that it too would pay them, again on the Cravath scale.
These two moves are significant — far more significant than the earlier spring bonus announcements….
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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: firstname.lastname@example.org.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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