I got a raise when I had my baby, which was a very nice gesture from the Breaking Media CEO. It was also the only way I could keep working here. You see, child care costs are such in this city that before my raise I would have saved money by quitting my job and taking care of the baby full time, instead of having to pay somebody to look after him while I’m at work. Now, I’m a little bit past the break-even point, so I take what they pay me, give it to my creditors and my child’s nanny (we can only afford to have her for 30 hours a week, but I’ve gotten much better at typing with one hand, as I’m doing right now), and have a little bit left over to buy liquor and ad-free porn (err… typing practice). My wife’s salary handles all the rest — trivial items such as “rent” and “food.”
So yeah, I pretty much write every day just because I love spending time with you guys [weeping softly].
It turns out, I’m not alone. An article in the New York Times details the child-care squeeze on middle-class families. We’re not talking about “working poor” families who have always struggled with child care costs while Republicans berate them for not pulling themselves up by their bootstraps. The article focuses on mothers with good jobs, professors and lawyers, who can’t really afford to pay someone to take care of their brood.
I suppose it’s not really a “Biglaw” problem. If you have one of those jobs, you can probably afford child care, or (more likely) afford for your spouse not to work. But if you don’t cash in with Biglaw, you’d probably settle for having your kids raised by wolves if the wolves came cheap….
Friendly reminder: Mother’s Day is this Sunday. If you haven’t done so already, you should buy your cards or gifts — and make your brunch reservations — NOW.
In honor of this occasion, we bring you an interview with a working mother whose professional journey is nothing short of remarkable. She went from working as a law firm switchboard operator to becoming the first woman partner of Cravath, Swaine & Moore….
* Let’s be honest, if it wasn’t for 9/11, we’d already be allowed to leave our cellphones on during flights because before 9/11 we weren’t beaten and cowed by the rights abusing airline industry. [The Legal Satyricon]
* “The Child Support Lady” is the lady that helps Dads avoid paying child support by representing fathers. I think I’d prefer the child support lady who helps Dads avoid paying child support by passing out condoms. [Miami Herald]
There’s a very interesting debate coming out of Washington State: Should universities do more to provide child care for students with children? On Monday, parents across the University of Washington system brought their kids to class to protest the lack of child care options in the area.
It’s an important question. According to the Seattle Times, child care is the third-greatest barrier to completing a college degree.
The New York State Senate yesterday passed its version of the Nanny Law. If signed by Governor Paterson, the law would require employers to give domestic workers paid vacation and sick days, as well as 14 days notice before termination. The benefits would apply to legal and illegal immigrants.
Essentially, it would require people to treat domestic employees like employees instead of serfs.
It sounds like a wonderful law. It sounds like the right thing to do. It sounds … utterly unenforceable. On True/Slant, Claudia Deutsch points out:
Sure, it sounds compassionate and embracing to say that anyone, legal or not, should have a right to recourse if they are being exploited. But how exactly does an illegal immigrant sue an employer without outing himself/herself? I can see a worst-case scenario if this passes, whereby people who currently employ citizens and legals might actively seek illegals, just to avoid the cost and paperwork.
Enforcing this law will be somebody else’s problem. But for the Biglaw families out there, the real question is whether this law will cause unnecessary problems in a market that already seems to work pretty efficiently….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: