There have lately been a flurry of articles, blog columns, and opinions strewn about whether a woman can have a baby and run a corporation. Filtered down to a finer point, especially relevant to this site, is whether lawyers can have it all. The answer, in my opinion, is no. A distilled or altered sense of “all” perhaps, but truly having it all, where you commit fully to your work and home life? Not so much. And to commit the foul of using lawyer “weasel words” — it depends.
When I am asked for advice from folks who read this column, or others practicing law or about to, I usually begin by assessing where that person is in life….
What the hell happened to the ding letter? When I was coming up, you would interview for a position, and maybe get a callback (inclusive of a nice lunch). If the firm was interested, you’d get an offer, if not, a thin envelope with a “ding” letter. I collected mine like badges of some sort. Some bar in Manhattan used to give you a free drink for every ding letter.
Eventually, I grew up a bit and threw them away. I had no need for them, and they were simply letters of rejection.
Over the years, something happened to the common ding letter: it disappeared. Now, you’re lucky if a company informs you that they received your application packet. Some go all in and state that they’ll keep your information on file and if someone finds you attractive enough, they will give a call, but don’t hold your breath. After talking to many applicants and folks in the job market, my real question is this: “what the hell happened to common decency?”
The line above is from Airplane, a 1980 comedy that is regularly included in all-time top ten movie comedy lists.*
“Johnny” is the character who utters this and many more scene-stealing lines; he owned each scene in which he appeared, and was played by the late Stephen Stucker.
Each time he was on screen, and there were far too few appearances, you were drawn to watch him just to see what he would say. He nailed every line, and the audience loved him. My friends and I would regularly quote the movie in our younger years, as it signaled a paradigm shift in movie comedies –- riotous farces that contained foul language, sexual innuendo, and brief nudity. Among this genre, and ground breaking at the time were Caddyshack, The Blues Brothers, Stripes, and Porky’s.
These movies helped American movies evolve from the mid-’70s “cinema” into the early ’80s “blockbuster.” While these films broke boundaries and changed the rules, and even seem quaint by today’s standards, they’re still funny. But, back to Mr. Stucker.
While it is difficult at best to steal scenes in Biglaw, and be the person that folks remember (for the right reasons of course), it is even more difficult in-house. When you first transition, you are usually entering a company with policies and procedures, uncharted politics and a set hierarchy of power. You find your place soon enough and begin to learn from those that came before.
Last week’s column caused a bit an uproar at my attempt to analyze the recent JP Morgan loss of funds from an in-house perspective. I later posted the following in the comments section, and since most of you don’t venture down there (wisely), I am reprinting it here:
“I will take the heat for a column that should have flowed better from factual assertions to analysis. I take the point that attorneys may not have been at fault, and I should have made that point with more clarity in the column. I also should have been more clear in laying out a linear argument from the facts reported in the media. The point I was going for, however inartfully, is that this trade was likely reviewed by someone in a legal capacity prior to approval, and that review should have caused someone pause. Dimon himself admitted that this was a strategy examined by him and management over a month before being executed. [I] [a]gree that the risk analysis was likely not performed by attorney(s), but it doesn’t take a huge leap of faith to presume that the legal technicality of whether this was a proprietary trade or a hedge appeared on some lawyer’s desk. And given the distrust of CDS after the recent malfeasance rife in the industry, is it so hard to believe that … lawyers were involved? Nope, I wasn’t there, and I made a poor attempt to examine a scenario which only magnified my lack of fluency in the subject matter. Mea Culpa.”
Now, on to today’s attempt to offer an in-house perspective….
As an in-house attorney, listening to Jamie Dimon’s Capitol Hill testimony this week caused me no shortage of agita. How in the world does a sophisticated shop like JPMorgan engage in trading that “it didn’t fully understand?” We’re not talking about tranches of junk mortgages; this appears to be basic hedging that went awry to the tune of two billion dollars. Oh, and after this occurred, Dimon was re-upped as the top gun at JPMorgan and given a nice raise. I am sure that there are a raft of attorneys in-house and otherwise advising JPMorgan on this situation — and how to deal with it — but I am more interested in how these trades came to be approved in the first place.
I presume, without knowing, that JPMorgan’s traders have a gauntlet of approval processes to run before implementing new initiatives, and one of those processes surely involved legal approval, or at least legal “go ahead.” Legal surely reviewed the initiative or trades, or whatever the proper term of art may be, before passing it up to the sales floors, and this is the most troubling aspect for me. Assuming that the public testimony is accurate, (and yes, I know what happens when I assume), then the folks responsible for actually trading did not understand what they were doing. Wow. Just wow….
Former Dewey and current Winston partner Adam Kaiser, in my opinion, needs lessons in public relations. I don’t even need to review with you who I am talking about. If you’re reading this on ATL, you already know Adam Kaiser. You also know what he is alleged to have done, and how he responded to a single comment posted on this site.
You and I know all of this information because of Adam Kaiser’s ill-timed attempts to quash the use of his name by an anonymous commenter. His poorly conceived, heat-of-the-moment demands that his name be removed from the site ultimately resulted in the reverse effect; everyone knows his name, and what he is alleged to have done. And his name, while removed from the single comment, has now been repeated over and over and over. Adam Kaiser.
The saying goes that any publicity is good publicity. I argue that unwanted publicity that could damage a career or a firm’s reputation is far from “good.” Even if Adam Kaiser thought he was doing the right thing by sticking up for himself against an anonymous comment, he effectively screwed the pooch.
One of the benefits of presenting to large groups of in-house lawyers is meeting large groups of in-house lawyers. I am happily ensconced here in my job, but I have never stopped networking. I never miss an opportunity to make a connection, or to make a friend. I try very hard not to burn bridges, and I always examine job opportunities when they come to me. You read that right. Look, things happen, things change, and things can go bad. If you haven’t kept up your networking simply because the economy sucks and the job market stinks, you’ve been doing yourself a huge disservice. I’ll say just two words: Kodak and Dewey. It sounds like a bad horror film ad but “no one is safe.”
When I started practicing law, the paradigm of one job for one career was already long gone. Most commercial lawyers today engage in a sort of pinball training, bouncing from one gig to the next, and picking up whatever knowledge they can before settling into a position with some semblance of permanence. I am very fortunate to have landed here, but even so, I am a much better in-house counsel now than when I started.
Let’s say that it takes a year to two to become fully capable of handling the job you have. If you have been practicing more than ten years, as I have, that’s around five or six years of hard core ability. I am not referencing simple knowledge of the rule against perpetuities, but the ability to use the RAP like Ginger Rogers — backwards and in heels. But, that’s the actual practice of law, and networking experience should only get better by the year. So, I have about twice as much experience networking as I do practicing. And so should you….
If there was ever a place where your self-esteem could be crushed just by stepping into an airport, Los Angeles is it. Being a New Yorker, I had the high-minded misconception that New York was the mecca of beautiful people, especially in summer. Wrong. I’ll end this tangent with the statement that I saw more perfectly tanned, toned, muscular, and ridiculously in shape people in the 15 minutes it took me to walk to baggage claim in LAX, than I have in my entire time in the Big Apple.
I was in L.A. to present at ACC’s Corporate Counsel University (“CCU”). CCU is a two-day nuts to bolt immersion program for folks who are new to in-house positions. It’s relatively small compared with the Annual Meeting, 200 or so attendees, but I have enjoyed presenting at this conference more than any other, because I can so readily identify with being new to in-house and feeling overwhelmed about how much I did not know….
I work in a highly competitive sales market. Underhanded deeds, though never perpetrated by my clients, are de rigeur in this field. There seems to be an ethical handbook for sales folks that has a theme of “ethics smethics –- close the deal at all costs.”
At quarter-end, or worse, year-end, this mantra can infect an attorney’s most rigid values. It is at these times when we must be on guard against the pressure to close. The pot at the end of the rainbow will look rather less shiny when tarnished by an ethics violation. None of this is news to most in-house folks.
With an economy on a slow crawl back to health, and internal pressures from all sides to cut costs and maximize revenue, shenanigans from sales people are rife in war story lore. But what of bad behavior by customers? I can tell you that after my years in-house, when I thought I’d already seen it all in private practice, I was quite wrong….
I had my first biopsy yesterday. Now, I have to wait ten days to hear whether my life will change dramatically, or whether worrying for a week and a half was a waste of time. This is one time I surely won’t mind “negative” feedback.
As I have contemplated this situation, it struck me that fear is an unnecessary component of our work lives from the time we apply to law school. Fear can drive us to obtain top grades, or to over-study for the bar exam, even though we’ve been specifically advised by BAR/BRI — as well as countless other attorneys who’ve been there and who we trust — that you only need to follow the program and you’ll pass. Fear can cause us to take jobs we don’t want because we just need a job, and fear can implicate itself into our daily work routine, so much that we cover our asses out of fear.
The fact is, as attorneys, we’re “maximizers” — folks who know fairly quickly, and usually correctly, that there may be a perfectly good solution to a question, but we can’t stop the obsessive, “What if?!”
Those what-ifs can metastasize into an ungodly blob of fear that resides in the pits of our stomachs. Especially at smaller in-house shops where counsel are expected to know everything all at once. That type of pressure is a breeding ground for all kinds of fear. The best practice when you’re faced with a task of knowing it all is to admit defeat at the outset. You cannot possibly know everything required of you. Your duty is to the company, and to do the best job of which you are capable. Beyond that, have the wisdom to seek assistance, internally or from outside counsel, and to know when to put your foot down and say “enough”….
We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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