* Billable hours in Biglaw are down 1.5 percent, and 15 percent of U.S. firms are planning to reduce their partnership ranks in early 2013. Thanks to Wells Fargo for bringing us the news of all this holiday cheer! [Thomson Reuters News & Insight]
* Hostess may be winding down its business and liquidating its assets, but Biglaw will always be there to clean up the crumbs. Jones Day, Venable, and Stinson Morrison Hecker obviously think money tastes better than Twinkies. [Am Law Daily]
* How’s that “don’t be evil” thing working out for you? Google’s $22.5M proposed privacy settlement with the FTC over tracking cookies planted on Safari browsers was accepted by a federal judge. [Bloomberg]
* Perhaps the third time will be the charm: ex-Mayer Brown partner Joseph Collins was convicted, again, for helping Refco steal more than $2B from investors by concealing the company’s fraud. [New York Law Journal]
* H. Warren Knight, founder of alternative dispute resolution company JAMS, RIP. [National Law Journal]
* Now that Barack Obama has secured his seat as a two-term president, in-house counsel in the financial sector can kiss their dreams of Dodd-Frank being repealed goodbye. Here are some issues to think about in light of its new footing. [Corporate Counsel]
* “We’re in the early innings of adjusting what value means.” And these days, it looks like “value” is synonymous with “making less money.” Given the results of this third quarter analysis, it’s quite clear that flat is still the new up for Biglaw. [WSJ Law Blog]
* Blow my whistle, baby? A DLA Piper partner filed a $4M suit against the Office of the Comptroller of the Currency on claims he was maliciously prosecuted as revenge for whistleblowing. [Daily Business Review]
* From Biglaw to Midlaw: Morrison Cohen, a midsize firm, managed to poach a partner from Willkie Farr. But how? Apparently this guy was no longer interested in billing “$900-plus” per hour. [New York Law Journal]
* Former Congresswoman Gabrielle Giffords will be present at Jared Lee Loughner’s sentencing hearing today, though it is unknown if she herself will speak. His expected sentence is life without parole. [ABC News]
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.
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