From buying their family’s love to buying luxurious lawyerly lairs, attorneys at the nation’s largest firms do a lot of things with their wallets — and now they’re voting with them, too. Earlier this month, we brought you a story about Obama v. Romney in terms of which presidential candidate was leading in the race to collect campaign contributions from the wonderful world of Biglaw.
At present, Obama has an advantage over Romney, with $1.9 million pouring in from America’s 20 biggest firms, as opposed to just over $1 million for his opponent. When we last wrote about this important issue, lawyers from DLA Piper proved to be Obama’s greatest supporters, while Kirkland & Ellis showed up strong for Romney. But what we really want to know is which other firms are opening their hearts wallets for these political adversaries.
With only a little more than a month until Election 2012, let’s take a look at the firms that are making some of the largest (and smallest) political donations….
* There are only 56 days until Election 2012. Does anyone actually think that’s enough time to resolve all of the state election law battles? Even if it is, we could still be looking at a “potential disaster” in terms of post-election litigation. [New York Times]
* “It’s a horrible feeling when you keep waiting for the phone to ring and slowly realize that it isn’t…” Second-year law students are learning that waiting to see if you’re getting a summer associate position is a lot like dating — but worse. [Wall Street Journal]
* Meanwhile, law school graduates are trying to figure out what to do because the call never came. Per the BLS, the legal sector lost 1,400 jobs in August. Must be encouraging if you’re looking for a job. [Am Law Daily]
* Seventeen years after the conclusion of O.J. Simpson’s murder trial, the lead prosecutor on the case accused the late Johnnie Cochran of tampering with the infamous glove. Um, better late than never? [Reuters]
* “If you wouldn’t have been there that night, none of this would have happened to you.” Because being groped by a cop wasn’t traumatic enough, this judge wants you to know that it was all your fault. [New York Daily News]
* If you allegedly tell a judge’s clerk that his boss should “get the f**k off all [your] cases,” and then follow up by allegedly telling the judge to “straighten the f**k up,” then your next stop is probably jail. [National Law Journal]
* Fashion law goes to Fashion Week and makes it work: Fordham’s Fashion Law Institute celebrated its clinics with a presentation at Lincoln Center. Papa Gunn would be so proud. [Crain's New York Business]
Down in Charlotte, at the quadrennial “We Hate America” (spelled “Amercia”) Convention, the Communist Pander-Bears have released a 70-page Party Platform replete with dozens of references to specific pieces of legislation that no one necessarily understands to remind us of the scores of bills that the Democrats have failed to pass since 2008.
The Democrats don’t provide nearly as many bold changes to the legal structure of the country as the Republicans. But there are a few legal planks worth reviewing, though tragically little on the subject of porn. How dare they not respond to the strongest plank of the Republican platform?
* Really, Prometheus was the kind of movie that allows you to think “putting in some lawyers couldn’t have hurt.” [Point of Law]
* Republicans are just better at naming laws than Democrats. I don’t know why that is, but it is. [Recess Appointment]
* Stand your ground laws increase homicides. Tomorrow, the gun lobby will tell us that we need to arm ourselves because of the epidemic of people standing their ground and killing innocent, unarmed Americans who weren’t able to buy a gun. [WSJ Law Blog]
* I almost feel bad for Anthony Kennedy. Every objective indicator proves that he was wrong about what the impact of Citizens United would be, and every month brings a new opportunity to shame Kennedy again. [Election Law Blog]
* Do you take the Metro North home every day? Like Pete Campbell, you might need an apartment in the city. [Dealbreaker]
* Defense rests in Roger Clemens trial. I guess the jurors will have to go back to counting sheep in order to get their rest in. [NPR]
* A judge who meditated would freak me out. Especially if the judge meditated about how you shouldn’t judge people. [Underdog]
* All your base are belong to… Rick Santorum? Error! Malfunction! Super Tuesday was not quite as super as Mitt Romney was hoping for. Looks like it’s time to reprogram the Mitt-bot so he can conquer the true conservatives. [CNN]
* Complete pwnage: a handful of LulzSec hacktivists were arrested after their leader, an FBI informant, turned on them. How will this affect the Anonymous movement? More importantly, who cares? [New York Times]
* No postponements for you, Casey Anthony. Try as she might, the acquitted ex-MILF just can’t escape the defamation lawsuit filed by a woman who was only supposed to be make believe. [Washington Post]
* It’s about freakin’ time. Guess who’s jumped on board the ever popular “blame the ABA” bandwagon? None other than David Segal, the New York Times equivalent of the law school scam blogger. [New York Times]
* Newt says that as president, he’d ignore SCOTUS decisions. Raise your hand if you want to elect someone who doesn’t understand our government’s system of checks and balances. [Los Angeles Times]
* “If you love me you’ll pass this bill.” Sorry, Obama, but even the Democrats are busy washing their hair on this one. How about we pass a resolution like this instead? I’d totally love Obama for that. [New York Times]
* Gary Giordano, the man accused of killing his swinging gal pal in Aruba, has hired a new attorney. Apparently Jose Baez is now the go-to guy for defendants with shady pasts and even shadier alibis. [Daily Mail]
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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