* “Many organizations have people who do dumb things.” Members of the Secret Service aren’t the only suits getting secretly serviced. Apparently Treasury Department officials like hookers, too. [New York Daily News]
* The cool cats at WilmerHale arrived for their first day of work yesterday at their hip new downtown location. Their library has a Wii, but who are they kidding, it’s probably just for show. [Am Law Daily (sub. req.)]
* On the other side of the fence, we’ve got some signs of the impending lawpocalypse. Soon Biglaw veterans will be forced to say goodbye to the corner office and hello to the glass-walled cubicle. [WSJ Law Blog]
* George Zimmerman: alleged murderer, and now an alleged child toucher (though he was still a child himself). Witness 9 claims Zimmerman abused her for a decade while they were both underage. [CNN]
* “We want to have a bar pass standard that really works. And it’s clear it doesn’t work now.” Oh boy, would you look at that. The ABA is trying to make it look like it’s doing something to improve law schools! [ABA Journal]
* Emory Law received a record donation, and more than half will fund minority student scholarships. Little do these kids know that they’ll soon be condescendingly told to move to Nebraska. [National Law Journal]
* But then again, maybe Nebraska isn’t so bad, considering three law schools are shipping students to neighboring Iowa. The towns are tiny, and the surroundings are rural, but come on, the state’s got jobs. [NPR]
I think that law schools should focus more on making sure their students are able to get jobs after graduation. But emphasizing career services doesn’t help anybody if students can’t pass the bar. Making sure that students can pass the bar is perhaps the first goal of a competent law school.
Unlike Thomas Jefferson Law, where apparently they think an atrocious bar passage rate doesn’t have anything to do with the faculty, most law schools try to make sure that their students can pass the bar. Except perhaps for elite schools. At top schools, the faculty assumes the strong academic record of their entering students will result in dutiful bar preparation with a test prep company. The elite law school curriculum instead focuses on theory.
But if you don’t attract the very best students, then your law school needs to focus a little more on the nuts and bolts of passing a state bar exam. A law professor at a lower ranked school made that point to the rest of the faculty and students during a debate about a change to the school’s curriculum. But some of the students are getting a little butthurt after being called “average”….
If the American Bar Association was serious about protecting its members, it’d be trying to do something to stop the influx of market-depressing new attorneys. America might need more lawyers willing to work for next to nothing to help those who can’t currently afford legal representation, but the last thing current attorneys need is even more law school graduates competing for the few paid positions available. Let the Obama administration start some kind of Americorps program for attorneys; the ABA should be concerned about keeping the supply of attorneys competing in the private market down around levels that come within shouting distance of demand.
(Of course, the ABA is still trying to figure out how to keep member institutions from lying to the ABA. I’m not going to hold my breath waiting for the ABA to figure this one out.)
Instead, it looks like some law schools are starting to voluntarily reduce the sizes of their incoming classes. We reported on two schools, Albany Law and Touro, doing this back in March, and it seems that the trend is continuing.
I guess there are only so many disgruntled, unemployed graduates these schools want walking around griping about their legal education (or suing them over it)….
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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