I’m somewhat reluctant to criticize other people’s bad financial decisions, having made so many atrociously dumb decisions in my own life. My financial stupidity isn’t even in the past tense — I have a brand-new PS4, but I’m waiting until the new year when my Flexible Spending Account resets to go to the doctor.
On the other hand, sometimes it takes an idiot to spot an idiot (I just made that up). At the very least, I’m somewhat uniquely qualified to identify which financial mistakes are “common” among the financially illiterate, versus the mistakes that take a special kind of dumb.
There are a few articles making the rounds today: there’s a Salon article trying to explain why law schools are comfortable scamming their students, and there’s a Forbes article making the stupid “now is a good time to go to law school” argument (which should make smart people roll their eyes). We’ve been down those roads before.
But we also have an article from a guy who says law school was the start of his financial downfall. He doesn’t blame law school, which is good, because I’m pretty sure he’s got nobody else to blame besides himself. And maybe his ex-wife….
Ed. note: This is the latest post in our series of ATL infographics — visual representations of our own proprietary data, relevant third-party data, “anecdata,” or just plain jokes.
Elie here. My first “Black Friday” (that’s the Friday after Thanksgiving for those who reject consumerism in all of its forms) while working in Biglaw, I went into the office. My second Black Friday, I went to the therapist. I didn’t make it to my third one.
Thanksgiving is next week, and while you certainly shouldn’t have to work on Thursday, Friday is a different matter. So, we’ve put together this helpful decision matrix to figure out if you actually have to drag yourself into your Biglaw office on Friday… or if you can sleep off your turkey hangover surrounded by your family and/or the escort you paid to make your holiday feel less empty…
‘I am defenseless. Take your weapon. Strike me down with all of your hatred and your journey towards the dark side will be complete.’
I think dogs should have about the same legal rights as children. That makes me a little aggressive about the legal standing of family pets, and deeply ambivalent about the necessity of treating undeveloped terrorists like “humans.” Children (and dogs) have the right to not be beaten or emotionally abused. They should have the right to clean and safe environments. They should have the right to run and play as much as possible. They should have consistent, reliable access to healthy meals, medical care, and mental stimulation.
They have the right to speak of course, but they don’t have the right to be listened to. If the dog starts demanding a blood sacrifice from the impudent delivery man, the dog is to be ignored. Similarly, you shouldn’t need “tips” for managing your kid’s iPad use. Just take the damn thing away and let the kid punch itself out. You’re the adult, you have a monopoly of force.
Of course, I’m raising a kid (and a dog) in a two-parent home. When parents get divorced, children attain the geopolitical standing of Southeast Asia during the cold war. And in that context, McDonald’s is part of the military-industrial complex that makes money off of the conflict between two warring superpowers…
If you’ve messed up and managed to get married without an airtight prenup, you’re going to have a messy divorce. Unless you have a fairy tale romance that can never be torn asunder, but statistically you don’t, so you should be planning for divorce. And congratulations to our gay brothers and sisters — with Illinois joining the 21st century this week as the 15th state to legalize same-sex marriage, you too will soon have to begin planning for divorces.
But when you get divorced, who should you hire to represent you? One publication has compiled its list of the 10 divorce lawyers you don’t want across the table from you….
Case Western is a prominent and well-ranked law school, #68 in the latest U.S. News rankings. It didn’t make the ATL Law School rankings, which stop at the top 50, but Case Western alumni give their alma mater a solid B-plus, as you can see from the school’s ATL Career Center profile.
But Mitchell’s fame comes less from Case Western and more from his national profile as a defender of legal education. Last year, he wrote an op-ed for the New York Times, Law School Is Worth the Money, that went viral.
Critics of Mitchell’s piece, including my colleague Elie Mystal, accused the dean of screwing over his students. Case Western charges tuition of almost $50,000, but less than 50 percent of its graduates secure full-time, long-term employment as lawyers, according to Law School Transparency.
Today Dean Mitchell is back in the news. A lawsuit filed this morning alleges that he screws his students more literally….
(See the UPDATE added below for the university’s response to the complaint.)
Quick question: when is your child no longer a “child,” so that you are not legally obligated to support the bugger when you are a non-custodial parent?
If you answered “over 18,” you might be wrong, depending on your state. Some states require you to pay child support for college expenses even after your kids are no longer minors. Sounds “enlightened,” doesn’t it? I’m sure it does if you are a university president who enjoys charging as much as possible for tuition. I’m telling you, birth control is the biggest bargain in the world.
A decision last week will take one state off the list of those with an extended definition of childhood. The decision can be looked at in a lot of ways: it’s a strike against the extended childhood of millennials, while at the same time registering as a shot to single parents trying to do their best for their children. And the decision is penned by a wackadoodle judge who probably thinks this will help Jesus in his eternal quest to keep people locked into loveless marriages.
Yesterday, Manhattan Supreme Court Justice Lori Sattler ruled that Lisa Mehos, who is locked in a custody battle with her husband, banker Manuel Mehos, had to testify about having an abortion.
Why would Lisa’s abortion reflect on her fitness to raise her children?
Given that this is happening in New York rather than Mississippi, the argument is not the backward claim that she can’t possibly love her kids if she had an abortion. Rather, the argument is that she demanded custody of the kids over a weekend when she knew she was going to dump them off with a sitter so she could undergo a medical procedure.
Still, injecting the emotionally charged issue of abortion into the matter fits into an overall strategy of demeaning and vilifying a woman’s sexuality under a double standard that brushes past the transgressions of the father…
* Jamie McCourt, a former family law attorney, strikes out in trying to set aside her divorce settlement with Frank McCourt, former owner of the Los Angeles Dodgers. She’s stuck with $131 million and several luxury homes. #richpeopleproblems [National Law Journal (sub. req.)]
* An inquest reveals that a Hogan Lovells partner who took his own life had warned a colleague that he was going to kill himself the day before his death. [Daily Mail via ABA Journal]
* If you’re in New York this weekend, go see Arguendo. Or buy tickets for the 7 p.m. performance on September 22, when I’ll be doing a talkback with artistic director John Collins after the show. Enter the discount code “ABOVE” for $35 tickets (a special rate for ATL readers). [Public Theater]
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
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