* Online gambling wants to come back to the U.S. after the government cracked down last year. Anybody want odds on whether this works? [Wall Street Journal]
* In news that only affects those who want to dress like whores, Abercrombie & Fitch and Hollister may systematically mistreat the disabled. [Fox News]
* Post-disaster price gouging is sad, but inevitable. Oklahoma’s Attorney General E. Scott Pruitt is having none of it. [The National Law Journal]
* Obama will address drone policy and Gitmo in a security speech today because, after the last couple weeks of scandal, he’s hoping to introduce fodder for another round of withering criticism. [Huffington Post]
* The Daily Caller is all over the idea that Michelle Obama may have dated the Inspector General of the IRS at Harvard Law. Which proves… actually, I have no idea if the Daily Caller even knows why this might be significant. [Daily Caller]
* U.S. and Chinese law schools are collaborating more. American law schools are really desperate to open themselves to more students, aren’t they? [China Daily]
* The Jodi Arias jury may not be able to make a decision on sentencing. If you cared about this story at all, you’ve already heard Nancy Grace’s opinion. [NBC News]
* Elie argues with folks about Greece v. Galloway and legislative prayer. Video after the jump…
I don’t see what else could have happened. Penn State Law is looking at a 20 percent drop in law school applications, one of the largest in the country. Dean McConnaughay’s major plan to consolidate Penn State’s two campuses was stopped in its tracks by politicians who, frankly, have no idea about the economics of running a law school these days. Then he proposed splitting the two campuses into two different law schools.
Now, he’s just leaving. Not just Penn State, the man is leaving the country. He’s taking an opportunity to become dean of Peking University’s School of Transnational Law.
It reminds me of when a basketball player can no longer play in the NBA and starts playing club ball in China…
One of the nice things about being a Biglaw lawyer is that you’ve got some autonomy over your schedule. You know how much work you have to do, and you know when it’s due, and within those borders you can manage your own time. If you want to come in a little bit later and stay a little it later, so be it. If you want to come in super early… well, you’re probably still going to end up staying late because of some BS that happens at 4:30 p.m., but after you bill 100 hours in a week, you can probably take it really easy once your matter closes.
The point is, Biglaw lawyers have the expectation of being treated like adults when it comes to their own time management.
So it’s a little bit surprising that a Biglaw firm is treating associates in one office like little children who need to be present when attendance is taken….
* “This is a total victory not just for the C.F.T.C., but also for financial reform.” Regulators, mount up, because you basically just got a free pass to do your jobs and keep a more watchful and vigilant eye on Wall Street. [DealBook / New York Times]
* Last year, China officially surpassed the United States in terms of the number of patent applications filed. China’s probably surpassed the United States in terms of patents infringed, but that’s neither here nor there. [National Law Journal]
* And now we see why St. Louis University School of Law’s interim dean said he’d be donating his salary to the school. He’s no “butt boy” — he’s settled $25M worth of cases since the fall. [Madison-St. Clair Record]
* “Help me, I’m poor”: the Huffington Post’s army of unpaid bloggers will continue to be unpaid, because the Second Circuit recently affirmed the S.D.N.Y.’s decision to toss out their case. [WSJ Law Blog (sub. req.)]
* Diane von Furstenberg, the fashion designer behind luxury brand DVF, is suing an ex-distributor for selling her wares on the cheap to the likes of TJ Maxx and Marshalls. Ugh, cringe… that’s très déclassé. [Bloomberg]
* Mirror, mirror, on the wall, which is the fairest firm of them all? According to the 2012 Acritas Brand Index survey, the current leader of the Global 100 is the most powerful Biglaw brand for the fifth year in a row. [American Lawyer]
* But that might not last for long, considering the dilemma Baker & McKenzie is facing when it comes to joining the Shanghai Bar Association in China. The firm is one of the first to indicate that it’ll take the plunge. [Wall Street Journal]
* Thanks to the Second Circuit, Rajat Gupta will be a free man on bail pending the appeal of his insider trading conviction. We wonder what Benula Bensam would have to say about this new twist. [DealBook / New York Times]
* Jason Smiekel, the lawyer who pleaded guilty in a murder-for-hire plot involving a former client, was sentenced to eight and a half years in federal prison. The things men will do for HHHBs. [Chicago Tribune]
* Student loan payments: coming to a paycheck deduction near you! Congress is considering an overhaul of the country’s student debt collection practices, and Rep. Tom Petri has some interesting ideas. [Bloomberg]
* The Cleveland-Marshall College of Law is the latest school to hop aboard the solo practice incubator train, but graduates will have to rent their office space from the school. Nice. /sarcasm [National Law Journal]
* “We didn’t file this complaint lightly.” Sorry, Judge Norman, but as it turns out, you can’t just sentence a teenager to attend church for 10 years as a condition of parole without pissing off the ACLU. [Tulsa World]
* When your alterations cost more than your wedding gown, it’s pretty much a given that you’ll have some problems — ones worth suing over, if you’re a true bridezilla (like moi). [Thomson Reuters News & Insight]
If you’re not familiar with Wendy Williams, we’ll tell you a thing or two about her: this “shock jockette” claims to be the “Queen of All Media,” she has her own syndicated talk show, she’s been known to pull her insider information about the stars she interviews out of her own rear end, and she’s even got a few rappers dropping beats in an attempt to shut her up. And because nothing says classy like purchasing fashion goods hawked at 3 a.m. on TV, we’d be remiss if we forgot to mention Williams’s line of shoes and other accessories, sold exclusively by QVC.
As it turns out, Williams is having a bit of legal trouble with the Chinese manufacturing firm that’s likely gluing her new shoe line together with the tears of underpaid children. It seems that Williams’s Chinese cobblers would like to get paid, so much so that they’re fiercely protesting and even taking hostages, all over some peep-toe shoes with heels dangerously high enough to qualify for instant stripper status in most polite social circles.
Staci Riordan, a partner at Fox Rothschild who runs the firm’s Fashion Law Blog (and who also spells her name in the most fabulous of ways, might we add), is representing manufacturer Max Harvest, in their shoe problems against the media queen, while Ken Schulman of Pryor Cashman is representing Williams. And unfortunately for Williams, “things don’t work in China the way they work in the United States….”
At least Casey Anthony knows her new venue motion is laughable.
* Hurricane Sandy is set to arrive today, so batten down the hatches, folks! Everything’s closing down for the storm, but please feel free to email us, if your law school or law firm is encouraging you to work. [Washington Post]
* Thanks to the SCOTUS decision in Citizens United, companies can now recommend how their employees should vote, which is “no different from telling your children: ‘Eat your spinach. It’s good for you.’” [New York Times]
* Biglaw firms are re-negotiating their office space leases in an effort to save money. While some firms have already sealed their new real estate deals, others are still on the prowl — but which ones? [Am Law Daily]
* The University of St. Thomas School of Law has a new dean, and it certainly seems like he’s willing to make some waves to help his students. The first step for Robert Vischer? Reducing tuition. [National Law Journal]
* “I don’t think her popularity has improved since the [murder] verdict.” That’s probably why Casey Anthony’s lawyers are desperately trying to get a new venue for Zenaida Gonzalez’s defamation case. [Orlando Sentinel]
* A man divorced his formerly fugly wife (she had $100K in plastic surgery to correct her looks), sued her for luring him into marriage her under false pretenses, and won. Don’t worry, girls, this happened in China. [FOX]
* This is a newly released video of NYPD kicking the ever-loving sh*t out of a homeless man, who was inexplicably charged with assaulting the officer who, again, beat him up on video. Inside a synagogue. Where the man was sleeping. With permission. Can’t wait to see the lawsuit that comes out of this. [Gothamist]
* SCOTUS has agreed to review the Arizona voter law. Oh goodie. [WSJ Law Blog]
* This San Francisco attorney had a nice visit to the up-and-coming superpower across the Pacific. And by “nice,” I mean the Chinese tried to kill him and the U.S. State Department made things worse. [San Francisco Chronicle]
* I’m sure there’s some sort of serious social commentary here about how gay marriage is good or bad, but I can’t figure out what it would be. Either way, this poor kid has had quite the rough go of it. [Althouse]
* Monster Energy Drinks are under investigation from an as-yet unnamed state attorney general. Because apparently some people were unaware that drinking something that looks like liquid uranium may be unhealthy. [About Lawsuits]
* The suspect in this multimillion-dollar scam graduated from Harvard Law in 1972. You stay classy, Cambridge. [ABC]
* Glenn Reynolds explains why everyone just needs to suck it up and pay income taxes. [Instapundit]
* Justice Scalia is interviewed again about his new book. Shockingly, no one took any shots at Judge Posner this time! [LA Review of Books]
Everyone knows lawyers make mad bank. That’s why you become a lawyer, right? Or, maybe they don’t always get super rich, but they usually do. Wait… lawyers used to always get super wealthy, but now not so much.
Dammit, now I’m all turned around. Point is, however much attorneys make in the U.S., how does it compare to lawyers across the rest of the world? Without further ado, check out our Infographic of the Day….
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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