* Our own Elie Mystal isn’t the only one who’s capable of fanning the flames of race baiting — it seems that Supreme Court justices can do it, too! We’ll probably have more on Justice Sonia Sotomayor’s benchslap later today. [The Two-Way / NPR]
* Patience is obviously one of this judge’s virtues, because this took a looooong time. After waiting more than a year for people to put their petty political pandering aside, the Senate confirmed Robert Bacharach to the Tenth Circuit. [Blog of Legal Times]
* Mary Jo White, the nominee to lead the SEC, will probably face her confirmation hearing in March. Her legal wranglings at Debevoise may be of interest to some, but really, who cares? She’s so cute and tiny! [Reuters]
* Mayer Brown and the terrible, horrible, no good, very bad year: gross revenue is up overall at most Biglaw firms, but not this one. In 2012, Mayer Brown’s revenue dipped 3.7 percent for a six-year low. [Am Law Daily]
* Kirkland & Ellis, now the fifth-largest Biglaw firm in the nation, is leading the market in terms of top dollar merger-and-acquisition deals. Now, if only the firm could get some bananas. [Crain's Chicago Business]
* Orderly liquidation authority may be a legitimate exercise of power under the Bankruptcy Clause, but as far as these states are concerned, it’s just another reason to hate the Dodd-Frank Act. [DealBook / New York Times]
* An “astronomically stupid” legal loophole? Unpossible! Gun trusts are seeing the limelight because Chris Dorner claims he used one to purchase his paraphernalia without a background check. [New York Times]
* Now that Barack Obama has secured his seat as a two-term president, in-house counsel in the financial sector can kiss their dreams of Dodd-Frank being repealed goodbye. Here are some issues to think about in light of its new footing. [Corporate Counsel]
* “We’re in the early innings of adjusting what value means.” And these days, it looks like “value” is synonymous with “making less money.” Given the results of this third quarter analysis, it’s quite clear that flat is still the new up for Biglaw. [WSJ Law Blog]
* Blow my whistle, baby? A DLA Piper partner filed a $4M suit against the Office of the Comptroller of the Currency on claims he was maliciously prosecuted as revenge for whistleblowing. [Daily Business Review]
* From Biglaw to Midlaw: Morrison Cohen, a midsize firm, managed to poach a partner from Willkie Farr. But how? Apparently this guy was no longer interested in billing “$900-plus” per hour. [New York Law Journal]
* Former Congresswoman Gabrielle Giffords will be present at Jared Lee Loughner’s sentencing hearing today, though it is unknown if she herself will speak. His expected sentence is life without parole. [ABC News]
Yesterday I got to chat with H. Rodgin Cohen, one of the nation’s leading corporate lawyers. Cohen has been accurately described by the New York Times as “the dean of Wall Street lawyers” as well as the “trauma surgeon of Wall Street” (for his heroic work rescuing the nation’s financial system during the 2008 financial crisis).
When he’s not working on bank mega-mergers, Cohen plays a major role in running the venerable firm of Sullivan & Cromwell, where he has spent his entire legal career (except for two years as an Army lawyer). He served as chairman of the firm from 2000 until 2010, when he passed his crown to Joseph Shenker, but Cohen continues to serve in the role of “senior chairman.”
So of course I asked Rodge Cohen about a very hot topic: spring bonuses. What did he have to say?
* Money might not grow on trees, but it certainly grows on financial reform legislation. Thanks to the Dodd-Frank Act, the pockets of Biglawyers will continue to be lined with cash for years to come. [New York Times]
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.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.