* “Beware of conservatives bearing gifts.” While there may be a federalism argument to be made in the DOMA case, it’s really about discrimination. It’s too bad some are afraid to stand up and say that. [Opinionator / New York Times]
* Sooo… was Melvyn Weiss, founder of Milberg LLP, really old, really drunk, or really old and drunk when he allegedly recited part of the alphabet as, “H, I, L, M, N, O, P, Q, R, S, T, U, V, W, S, X, U, V, W, S, I, C”? [Am Law Daily]
* “Can’t fire me, I quit” moments are much better when they involve partners. Ogletree’s ex-VP was asked to leave over a dispute with another lawyer, so he resigned. [Thomson Reuters News & Insight]
* The U. of Arizona is thinking about lowering tuition by 11% for in-state students and 8% for out-of-state students. On behalf of your indebted students, MOAR doing and less thinking. [Arizona Republic]
* Some Supreme Court analysts are speculating that Justice Clarence Thomas could cast a vote to overturn the Defense of Marriage Act, but at this point, that’s just about as likely as him speaking during oral arguments. [Talking Points Memo]
* When a practice group laterals out of a firm en masse, you know things were probably going on behind the scenes for a while. Apparently Bingham’s securities enforcement crew was in very high demand by other Biglaw firms. [Am Law Daily]
* Hot on the heels of a merger ménage à trois, Dentons (fka SNR Denton) is already eyeing new growth possibilities across the globe. Guess they’re down with orgies now… [WSJ Law Blog (sub. req.)]
* “Clients don’t hire us because of our sex. They hire us because we win.” This, from Hillary Richard, one of the female name partners of a largely all-female firm. You go girl! [DealBook / New York Times]
Looking back, the part of last week’s arguments at the U.S. Supreme Court that stands out most for me is the last hour (DOMA merits) — a fitting finale to two days of historic argument on same-sex marriage.
The way things unfolded, the last hour is why we all came. It is why people slept on the sidewalk for days. It is why Americans tuned in and logged on for updates. It is why the attorneys signed up to argue.
We were there to discuss the future of marriage in this country, how different people see it, and where state and federal governments fit in.
The Prop 8 argument went to those core issues the day before, but in fits and starts. A muddy hybrid of standing and merits.
The last hour of DOMA went there and stayed there. Merits were the only thing on the menu, and we ate it up….
* Based on the justices’ reactions during oral arguments in Windsor v. U.S., there was no defending the Defense of Marriage Act. Not even Paul Clement, the patron saint of conservative causes, could save the day. [New York Times]
* Alas, the David Boies and Ted Olson Dream Team stole much of the spotlight from Roberta Kaplan, the Paul Weiss partner who argued on behalf of Edith Windsor in an effort to overturn DOMA. Seriously, you go girl! [WSJ Law Blog (sub. req.)]
* Dude, you’re getting a Dell! Alston & Bird and Kirkland & Ellis are the latest firms to join the Biglaw sharks (including Ho-Love, Debevoise, Wachtell, SullCrom, and Simpson Thacher) circling this major tech buyout. [Am Law Daily]
* It looks like it’s time for JPMorgan to face the music for its investments in Lehman Brothers, because a federal judge just ruled that the bank cannot “dispatch plaintiff’s claims to the waste bin.” [Reuters]
* An alleged killer’s sense of mortality: James Holmes, the suspect in the Colorado movie theater shooting, offered to plead guilty and spend life in prison in order to avoid the death penalty. [CNN]
Looking at my notes from today’s United States v. Windsor argument on DOMA at the U.S. Supreme Court, “$Q” is everywhere. That’s my shorthand for “money quote.” The merits part of the argument was $Q after $Q, moments that made an impact, in some cases if only to show where a justice might be headed.
Here are five. Look forward to bringing you more in-depth analysis of the argument in the next couple of days.
* OMG! Get ready to have a lawgasm, because the Supreme Court is going to be releasing same-day audio recordings from oral arguments during next week’s gay marriage cases: Proposition 8 and the Defense of Marriage Act. [National Law Journal]
* “Way to go, Justice.” Justices Ruth Bader Ginsburg and Elena Kagan work out with a personal trainer who’s got a client list that would make Article III Groupie swoon — and he just so happens to be a records manager at D.C.’s federal court. [Washington Post]
* Debevoise & Plimpton’s littlest litigatrix, Mary Jo White, sailed her way through the Senate Banking Committee with a vote of 21-to-1. Her nomination to lead the SEC will now head to the full Senate. [DealBook / New York Times]
* “Our 2012 numbers aren’t as good as we would have liked.” Gee, ya think? From attorney headcount to gross revenue to profits per partner, just about everything was down in 2012 for Fried Frank. [Am Law Daily]
* Eckert Seamans will be merging with Sterns & Weinroth, adding 17 partners and seven associates to its ranks. Someone please come up with the semen joke so I don’t have to. [Philadelphia Business Journal]
‘They tried to make me go to rehab, and I said… sure, it’s better than going to jail!’
* President Obama nominated Thomas Perez, the head of the DOJ’s Civil Rights Division, to be the next secretary of labor. Republicans, of course, are all butthurtt, calling this a “needlessly divisive nomination.” [New York Times]
* Let’s get ready to RUMBLE! Be prepared to see some legal heavyweights next week when the Prop 8 and DOMA cases are argued before the Supreme Court, including Paul Clement and Ted Olson. [National Law Journal]
* How appropriate that Justice Scalia should break out the Spanglish for an Arizona voter registration law that requires proof of U.S. citizenship. Our beloved Wise Latina probably wasn’t too thrilled by this. [New York Times]
* To promote pay equity in law firms, the ABA is encouraging bar groups to hold conferences on the topic. The question on everyone’s minds, of course, is whether those conferences are billable. [Thomson Reuters News & Insight]
* Law schools aren’t the only places where transparency is lacking. Jeh Johnson, the DOD’s former general counsel, thinks the secrecy swirling around drone strikes is bad for the government. [At War / New York Times]
* The members of Debevoise’s displaced trusts and estates practice team have been picked up by Loeb & Loeb. Enjoy your new home, and your new — presumably lower — compensation package. [Am Law Daily]
* Lindsay Lohan took a plea deal yesterday, and instead of going to jail, she’ll be going to rehab to be kept under lock and key for 90 days. I’d say this is bad for her career, but who are we kidding? [Los Angeles Times]
* Casey Anthony’s trustee just answered my prayers. He wants the ex-MILF to sell her story to pay off her debts. I demand that LiLo be cast in the role! She’s the only one broken enough to pull it off. [Washington Post]
The different jurisdictional treatments of same-sex marriage are not the only factor influencing businesses’ decisions about where to locate operations. As all businesses do, we make our decisions about where to locate our operations by balancing several relevant—and sometimes competing—factors. In light of the multiple criteria we utilized in deciding where to locate our new global services center, we remain very confident in and pleased about our choice of Lexington, Kentucky, for our new operational hub.
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: email@example.com.
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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