Year-end is fast approaching in Biglaw. For litigators, the last two weeks of December are usually some of the calmest of the year. Even the hardest of adversaries are apt to adopt a “Christmas Truce” and halt the lobbing of discovery grenades at each other. Courts start to slow down, and most everyone is happy to “pick things back up” after the turn of the year. But like all things Biglaw, complacency at year’s end is impossible for a Biglaw partner — even when work is relatively quiet. Why? One word: collections.
For tax and other corporate structure reasons that your firm’s comptroller will be happy to explain to you (if you dare to actually engage a non-lawyer in conversation about the business of your law firm), most Biglaw firms want to have every single drop of revenue possible in the door by December 31st at 11:59 p.m. While your typical partner is fairly insulated from money matters at the firm all year, and mostly just wants no surprises when it comes to their compensation, at year’s end everyone is recruited and expected to give their all. To what? Collections!
Over the weekend, the New York Times ran a blood pressure raising article about hundreds of District Attorneys offices that allow debt collectors to use their stationery to chase down folks who write bad checks.
Why does anyone give a damn about prosecutors who help businesses to bully people into ponying up cash under threat of prosecution, before a lawyer ever looks over the case? Well, for starters, the DAs get a little somethin’-somethin’ from the deal, too….
Last night, a dramatic scene unfolded in the parking lot of a movie theater. A suspected drunk driver allegedly took off without his headlights on, hit two police cruisers, terrified several witnesses, and then slammed his car into a tree. The driver was killed.
“It was coming straight towards us and I didn’t know if he was going to stop or what he was doing,” said one witness. “He was going 70, 80 miles an hour. It was scary.”
The driver of the vehicle was a young lawyer, an associate at a law firm. He graduated not too long ago from a leading law school….
It continues to baffle me how this president who was elected thanks to the overwhelming support of young people can’t see the crushing effect of student debt. I honestly think that President Obama has a blind spot on this issue because he was able to pay off his debts with a book deal. Not everybody gets a book deal.
Heck, in this economy, not everybody gets a job.
And if you don’t have a job, paying off your student loans is the last thing on your list. First comes shelter, then food, then dating, then internet (so you can look for jobs), then all the bills where they take something away from you if you don’t pay, then alcohol, and then you see if you have any money left over to pay your student loans.
For some reason, Obama doesn’t understand that. He seems to think that if you pester people more, they’ll pay off their loans. Thanks to this flawed logic, expect debt collection calls to be coming to a cell phone near you….
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 seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.