Davis Polk & Wardwell

Edward Snowden

* Edward Snowden, the computer technician who leaked details on the programs the NSA didn’t want you to know about, sacrificed his life to save your privacy’s soul. Thanks a bunch, Technology Jesus! [CNN]

* While we wait for Fisher, DOMA, and Prop 8, if you’d like some background info on the people behind the most controversial and talked about SCOTUS cases of the term, give this one a read. [NBC News]

* If a justice claims he’s never met a homosexual and he’s got a gay law clerk, telling him to “look around [his] chambers” to find one is the NKI. My, how times have changed since the mid-80s. [New York Times]

* In 2012, Justice Sotomayor earned $1.9 million in royalties from her memoir, My Beloved World (affiliate link). Yeah, her world is probably so beloved because she’s rolling around in money. [Blog of Legal Times]

* Howrey going to make use of this empty wall space? If you’re in the market for some art, this bankrupt firm’s decor will be up for auction in D.C. later this week. [Bankruptcy Beat / Wall Street Journal]

* When you’re dealing with the most beautiful people in Biglaw, the price for pretty is high: Davis Polk was slapped with a million-dollar lawsuit over a recruiter’s fee. [Thomson Reuters News & Insight]

* Gerald Shargel, criminal defense attorney to the Mafia stars, is retiring his shingle to join Winston & Strawn. Biglaw better keep him entertained — he gets bored easily. [DealBook / New York Times]

* Cory Booker, one of everyone’s favorite Yale Law School grads, announced his candidacy for a New Jersey Senate seat over the weekend. Best of luck in the special election! [The Note / ABC News]

* The feds are seeking a four-year sentence for former Rep. Jesse Jackson Jr. in his campaign funds misuse case. No MJ memorabilia is worth prison time, no matter how big a fan you are. [The Hill]

* “[I]f you ever call me on my cellphone again, I’ll strangle you.” Yikes. Looks like this Kentucky judge won’t have the chance to wring his hands around lawyers’ necks any time soon. [Courier-Journal]

Just outside the window: marble statues of Roman goddesses.

Once upon a time, there lived a beautiful Swedish woman. She came to the United States and studied at an elite college and top law school. After graduation, she went to work at Davis Polk — which is where all the beautiful people work.

While at Davis Polk, this blonde beauty met her Prince Charming — an older, extremely successful M&A partner. They got married at a Caribbean resort, and their wedding made the pages of the New York Times (of course). A few years later, she left the firm to become the general counsel to a global investment bank. Unlike many other power couples, they remain married to this day.

Fairy tales can come true. Let’s learn about a remarkable couple, then ogle their castle in the clouds….

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Well, the tournament has been a “shocker,” right? I know folks from Wichita State and they are psyched to flash inappropriate gestures on national TV for another round.

Sadly, Oregon got bounced out of the Sweet Sixteen, which made me a little sad, though not as sad as my whole bracket getting bounced when Indiana lost by double digits. I’d finally put my faith in the Big Ten and they repaid me with that?!?

In any event, the ATL bracket finally got some action too, with a couple of upsets. Including my beloved Cleary…

double red triangle arrows Continue reading “ATL March Madness: The Law Firm With the Brightest Future — Round Three”

Last week my NCAA bracket soared to the lead in our office bracket pool. And then crashed to reality when my New Mexico Final Four pick got cut down by Harvard. It was a bitter pill to swallow when I have to talk to Harvard grads daily.

At least the Ducks are still in the tournament.

Meanwhile, the ATL March Madness bracket rolls into the Sweet Sixteen. At least so far, you all love the chalk….

double red triangle arrows Continue reading “ATL March Madness: The Law Firm With the Brightest Future — Round 2″

Congratulations! You made it!

Few people are happier about the world’s surviving the Mayan Apocalypse than new partners at top law firms. Can you imagine slaving away in Biglaw for almost (or even over) a decade, finally winning election to the partnership in late 2012, and then having the world end before your hard-won partner status took effect?

Fortunately that didn’t happen. Heck, we didn’t even go over the fiscal cliff. But some people will have to pay higher taxes this year (and for many years to come).

Like these people: the talented and hardworking lawyers who, as of January 1, 2013, became partners of their respective law firms. Let’s find out who they are, so we can congratulate them….

double red triangle arrows Continue reading “New Partner Watch: Incoming Partner Classes at 10 Top Firms”

Marathons and triathlons are so passé. They’re just not thrilling enough; you need an endurance event that’s going to make you feel truly alive. Enter Tough Mudder, a 10 to 12 mile obstacle course designed to test participants’ all-around strength, stamina, mental grit, and camaraderie. This isn’t a race, it’s a challenge, and participants are greeted upon entry with an ominous sign that reads, “Remember You Signed a Death Waiver.”

If you choose to sign up for one of these events, some of the extreme challenges you’ll experience include trudging through a mile of waist-deep mud, sprinting through blazing fire, being submerged in ice water so cold that hypothermia is a real possibility, and running through 10,000 volts of electricity. If that sounds crazy, it’s because it is.

This is the kind of torture that could only have been dreamed up by a former Biglaw tax attorney….

double red triangle arrows Continue reading “Career Alternatives for Attorneys: Tough Mudder”

Where’s the coke?

* NALP is becoming the harbinger of doom for law practice. Here’s some cheerful news: the percentage of female associates in Biglaw dropped for the third year in a row. Perhaps they’re going the way of the Clifford Chance mommy. [National Law Journal]

* Biglaw hotties are coming to a continent near you! Davis Polk & Wardell will be adding a litigation practice to its existing shop in Hong Kong, and they managed to poach two big name Clifford Chance litigators in the process. [DealBook / New York Times]

* According to the ACC, in 2012, base salaries for general counsel rose 1.9 percent, while cash bonuses dropped 7.9 percent. But really, who’s going to complain about a six-figure bonus? [Corporate Counsel]

* A Delaware jury ruled that Apple infringed on several patents in a mobile-device technologies case filed by MobileMedia Ideas. Somewhere, Samsung’s bigwigs are laughing their asses off. [WSJ Law Blog (sub. req.)]

* A woman was arrested in Spain for trying to smuggle in cocaine from Colombia. Seems pretty standard, except for the fact that she was hiding the coke in brand new breast implants — three pounds of it! [CNN]

Perhaps they were just waiting around for Sullivan & Cromwell. Not long after S&C announced bonuses, on Thursday afternoon of last week, Davis Polk announced bonuses, on Friday.

They matched the Cravath scale. Shocking, we know.

What about Morrison & Foerster? They just announced bonuses too, for associates in their New York office….

double red triangle arrows Continue reading “Associate Bonus Watch: Davis Polk and MoFo (New York)”

Around here, one can’t mention the concept of something being “overrated” without reference to one of the weirdest and most enduring ATL comment memes, a play on the late, great Hitch’s assertion that the four most overrated things in life are “champagne, lobster, anal sex, and picnics.” So who are the, um, lobsters of Biglaw?

Last week, we had a look at what our audience considered to be the most underrated Biglaw firms, by practice area. Today, inevitably, we turn it around and have a look at what you’re telling us are the most overrated firms.

Among other things, our ATL Insider Survey asks attorneys to nominate firms with overrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.

To be sure, these survey results need to be taken with some buckets of salt — we realize that, for some, answering this question might be a chance to take an easy shot at a more successful rival or competitor. Of course, there are crazy people who will tell you that such paragons as Benjamin Franklin or Tom Brady are “overrated,” but that probably says more about the person making that statement than anything else. But that said, these survey responses are a fun glimpse at which firms Biglaw attorneys think are more sizzle than steak….

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Maybe they’re on to something….

Here’s an interesting irony: some of the Biglaw firms that spend the least amount of time thinking about money are the ones that enjoy the most of it. A number of super-elite New York law firms have lockstep compensation systems, in which partners are paid purely based on seniority, and these firms are among the most profitable in the country. These firms focus on doing great work for their clients, not on divvying up the spoils from such work — and, in the end, there’s more than enough filthy lucre to keep everyone smelling like money.

On an individual level, some of the wealthiest lawyers in Biglaw — the ones who make partner, and remain partner, for years and years — don’t fixate much on money either. They focus instead on their work, which they seem to just love (often more than any hobbies, and sometimes more than their families). As for the money, well, it just comes — in copious quantities.

Let’s take a closer look at these phenomena….

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