Today’s Biglaw layoff story involves a firm that’s even more impressive. This firm has been recognized as a great place to work by Fortune, Crain’s, and Above the Law. In fact, it topped our list of the 12 top rated firms for 2013.
Which wonderful law firm is parting with some people, and why?
* The FBI announces that there will be no criminal charges over the “scandal” in which the IRS gave heightened scrutiny to conservative groups that planned to cynically game the law sought tax exemption for their entirely, in no way political activities. As another faux scandal bites the dust, here’s a good round up of butthurt right-wing editorials. [TaxProf Blog]
* SCOTUS Benchslaps! In a lengthy footnote in Daimler v. Bauman, Justice Ginsburg accuses Justice Sotomayor of misstating the record in the latter’s concurrence. In reading the competing interpretations, it seems as though Justice Sotomayor has the most fair reading, but then again the case is 62 years old, and Justice Ginsburg was probably there when it decided the first time. [Josh Blackman's Blog]
* Investment banks are seeing potential recruits running over to the tech industry. Law firms haven’t felt the same draw, mostly because you got a law degree because you suck at math and science. [Law and More]
* It’s about time Wile E. Coyote fought for his rights against Acme’s wanton disregard for customer safety. [Pentagram]
* An interview with Stephen Neal, the chairman of Cooley LLP, probing why Cooley is such a cool firm (evidenced by their #1 ranking in the ATL Insider Survey). [The Careerist]
* There’s a proposed law in Wisconsin designed to get dads out of child support payments. I know this may come as a shock, but it was written by a millionaire who doesn’t want to pay his court-ordered child support. [Jezebel]
* Well, we suggested the NFL concussion settlement was a bum deal the other day, and apparently Judge Anita Brody agrees, halting the deal. [Bleacher Report]
Since 2008, Crain’s New York Business has produced a list of the Best Places to Work in New York City. Each year, a few law firms sneak onto the list, much like the situation with Fortune’s 100 Best Companies to Work For list.
This year, seven law firms made Crain’s list, while only four made Fortune’s list, as of January 2012. Just two firms overlap between Crain’s and Fortune’s lists.
Which ones are considered tops in the city that never sleeps? Let’s find out…
In an era when “disruption” is celebrated, the world of large law firms is one of the last redoubts of conventional wisdom. For a uniquely rule- and precedent-bound profession, this makes sense. Biglaw’s conventional wisdom has the added virtue of being reliable. For example, we can count on Cravath taking the lead — at least chronologically — on bonuses, and for DLA Piper to have the most random Third developing-world offices.
Another reflection of conventional wisdom is the way in which Biglaw lends itself to — and revels in — superlatives and rankings. There tends to be a generally acknowledged and perennially dominant player (or a few) in most practice areas: Wachtell Lipton for M&A, Weil Gotshal for Chapter 11 work, Patton Boggs for lobbying, and so forth. There’s no doubt that many worthy firms get overlooked.
Last year we took a look at which firms’ practice groups were considered “underrated” by peers in the field. Among the notable 2012 nominees: Cahill for corporate law, Arnold & Porter in litigation, and Proskauer for its bankruptcy and tax practices.
We wondered whether the same practice groups were still considered by practitioners to be unfairly underrated. Or are there other firms deserving more recognition?
This coming Friday, it is the inalienable right of all Americans to sleep off their hangovers, or riot at Walmart, or do anything at all rather than work for The Man. But Biglaw is a different country. As illustrated by Elie’s decision matrix, the “choice” of whether to work on this sacred day is, for the denizens of the law firm world, fraught with other pressures and expectations. We all know that Biglaw careers demand a Faustian bargain: in return for their fat paychecks (and bonuses?), lawyers are expected to work grueling, unpredictable hours. This time of year, that reality is brought into sharp relief: the “holiday season,” with those “family obligations” and so forth, is something that occurs elsewhere.
But law firm billable expectations are not homogeneous. There are significant differences across practice areas, seniority levels, and, of course, individual firms. So how do the various practices, employment statuses, and firms stack up?
* “Some discrimination’s okay. It’s only certain kinds that aren’t good.” We’ve got a feeling we know which side the Supreme Court will come out on when it comes to the Mount Holly Gardens case in New Jersey, so fare thee well, Fair Housing Act. [MSNBC]
* Hallelujah! After last month’s miraculous news of this troubled firm finding a savior in Cooley LLP, the Left-Behinders of the Dow Lohnes partnership ranks are counting their blessings as they slowly but surely find new homes elsewhere. [Am Law Daily]
* After a political process that’s lasted for ages, now all that’s needed is the governor’s signature, and then Illinois will become the 15th state to officially have legalized same-sex marriage. Hooray! [New York Times]
* Lawyers for accused Boston Marathon bomber Dzhokhar Tsarnaev are annoyed that access to their client has been limited by jailhouse rules. A judge will slap down their motion next week. [National Law Journal]
Last month we wrote about a Biglaw firm that’s in big trouble. The firm in question: Dow Lohnes, a former Am Law 200 firm that has been hemorrhaging lawyers and clients (and lost two more partners last week, to Venable). In our story about Dow Lohnes, we noted that “[i]t seems possible that the firm could merge out of existence — if it’s lucky enough to find a partner.”
Fortunately for the remaining lawyers and staff at Dow Lohnes, the sinking ship has located some lifeboats. A larger and stronger firm, a member of the Am Law 50 and Vault 100, will be picking up many (but not all) of Dow Lohnes’s lawyers.
Who’s the white knight riding to the rescue of Dow Lohnes?
Have you ever wondered how nerdy libertarian types get married? (No? Just us?) Depending on your jurisprudential leanings, you’ll be either moved, amused, or emotionally scarred by this wedding ceremony, which took place on the roof of the Cato Institute earlier this summer. Here’s the video. It gets a little weird when the groom whips out his pocket Constitution — he calls it “my Bible” — and vows to “faithfully execute the office of your husband.” (But keep watching for the bride’s vows, which are sweet and heartfelt.)
Another fun (non-lawyer) wedding write-up is this one, featuring the great-granddaughter of Maria and Captain Georg von Trapp, of The Sound of Music fame.
And now for our latest legal-eagle newlywed contestants:
When it comes to the deposition process, it can get painfully boring for everyone involved. That’s why we love it when deponents spice things up by telling attorneys to “suck [their] dick,” or by accusing counsel of asking “stupid-ass questions.”
Sometimes, even the lawyers get involved in the fun, by drawing pictures of male genitalia or asking probing questions like, “So, your jurisprudential hymen is being ruptured?” We thought that we’d seen it all when it came to deposition antics, but it seems that we were incredibly mistaken.
Has a naked man ever interrupted one of your depositions?
‘What, no power rings for the Law School Avengers?’
* In case you didn’t catch this yesterday when it was announced, Osama bin Laden’s son-in-law, Sulaiman Abu Ghaith, is currently being held for trial in New York City. This will be the most unbiased jury in the world. /sarcasm [New York Times]
* According to Justice Anthony Kennedy, democracies shouldn’t depend “on what nine unelected people from a narrow legal background have to say.” Well then! I suppose we should look forward to the uprising. [The Big Story / Associated Press]
* Cooley and Winston & Strawn are working on the $600 million sale of everyone’s favorite store for slutty Halloween costumes, Hot Topic. Apparently that store still exists. I had no idea. Good to know! [Am Law Daily]
* Proskauer Rose is now the most powerful Biglaw firm in the sports world. It just goes to show that even if you’re too awkward to play ball, it doesn’t mean you can’t hit it out of the park in court. [Sports Illustrated]
* “I would love to blink and wake up in 10 years and see where all this ends.” Unemployed law grads are probably saying the same thing, but hopefully these law school law firms will be beneficial. [New York Times]
* A group of legal heavy hitters — “The Coalition of Concerned Colleagues” — submitted a cutting letter to the Task ABA Force on Legal Education. Next time, try “The Law School Avengers.” [WSJ Law Blog (sub. req.)]
* If it’s proven that enough Native Americans find the Redskins team name offensive, the Trademark Trial and Appeal Board may cancel the mark. Would it be offensive to call the TTAB Indian givers? [National Law Journal]
* An apple a day may keep the doctor away, but benchslaps are another thing entirely. Sorry, Gibson Dunn, but your document production “mistake” was “unacceptable” in Judge Paul Grewal’s courtroom. [Bloomberg]
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months, and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.