* Dewey really need to keep coming up with punny headlines about D&L’s painful probe? Pass the lube, ’cause you better believe we dew! Steven Davis, the firm’s former chairman, has hired Barry Bohrer, a white-collar criminal defense lawyer and partner at the Morvillo Abromowitz firm. [WSJ Law Blog]
* “Of course all of that money for my baby mama is legal. I… uh… checked with my lawyers. Um, yeah. Just get the money in.” Cheri Young gave some pretty damning testimony yesterday during the John Edwards campaign-finance violations trial. [CNN]
* As if you didn’t have enough to worry about during finals, Law School Transparency has come out with a new clearinghouse that includes employment outcomes, salaries, and student debt loads. [National Law Journal]
* “I do not own a color. I own a specific color in a specific place.” Christian Louboutin was seeing red when he responded to interview questions over his trademark infringement suit against Yves Saint Laurent. [Fox News]
* Remember that Nutella class action suit? Ferrero settled, and you can cash in if you bought their delicious hazelnut crack during the relevant time period. Needless to say, they owe me $20. [American Thinker]
* Richard Bellman, the lawyer behind New Jersey’s “Mount Laurel doctrine,” RIP. [New York Times]
* He may not have authoritah to respect! George Zimmerman received more than $200K in donations for his legal defense fund, but Judge Lester isn’t going to increase his bail just yet. [New York Times]
* Is Joe Amendola’s client, Jerry Sandusky, rubbing off on him? First he advises people to call a gay sex hotline, and now he’s spilling loads (of info) on boys all across Pennsylvania. [Philadelphia Inquirer]
* Thanks to an inquiry by the New York Post, Columbia Law has changed how it reports its post-grad employment statistics. Perhaps more publications should get their b*tch-slappers out. [New York Post]
* If every day were filled with science experiments, laser demonstrations, and art projects at Crowell & Moring, then maybe lawyers would think twice about allegedly embezzling millions. [Washington Post]
* Lawyers need to know how to be lawyers before they can be lawyers? “Way too meta, dudes,” say law school deans in California. Maybe next time, bar examiners, maybe next time. [National Law Journal]
* “With these grades, you could be a stripper.” That’s quite the report card! Guys Teachers in my high school used to allegedly sexually harass former students all the time, it was no big deal. [Connecticut Post]
* Walter L. Gordon Jr., a groundbreaking lawyer in the era of segregation, RIP. [Los Angeles Times]
This is Elie Mystal, coming to you live from Austin, Texas, and the 2012 conference of the National Association of Law Placement. It’s my favorite annual conference, because every year, NALP just gets all the law school career services officers and all the law firm recruiters in a room, and tells them all the trends in legal hiring. We’re not talking about anecdotal evidence or law firm spin. It’s the one time each year we get to look at some hard numbers.
And in case you live under a rock, let me tell that every year since the recession, the numbers get more and more terrible. Looking at some of these statistics is as close as you can come to physically witnessing a dream die a horrible, mangled death.
This year, the numbers are worse than ever! And that’s the good news. NALP’s Executive Director, Jim Leipold, thinks that we’ve probably “hit the bottom” in terms of new associate hiring, with the class of 2011 suffering the absolute nadir of this process. While he doesn’t know if things will get significantly better any time soon, he figures they pretty much can’t get any worse.
* Say sayonara to the Buffett Rule. Senate Republicans were successful in blocking the 30% tax on millionaires proposed by Democrats. And thank God, because that trickle down thing is totally working for us right now. [Wall Street Journal]
* Rich lawyers keep getting richer because they keep increasing their fees. That being said, where the hell are the bonuses? Come on now, SullCrom, are you seriously going to make us all wait until June? That’s really not very nice. [Thomson Reuters News & Insight]
* Well, that was quick: one minute men abound in the George Zimmerman circus. Mark O’Mara filed a motion to get Judge Recksiedler off the case, and the media filed a motion to get access to sealed records. [CNN]
* A federal judge presiding over the John Edwards campaign finance trial dismissed 47 potential jurors. Dude gets around, because apparently he had slept with all of them. Nah, he wishes, though. [Bloomberg]
* As a law school, it sure is easy to claim that just under 100% of the class of 2010 was employed nine months after graduation, especially when you were the one employing them. [National Law Journal]
* Seems like the New York Times has finally caught on to the ADA troll trend. Lawyers are recruiting clients to file suits against noncompliant businesses, but at least the disabled reap the rewards. [New York Times]
* Prospective welfare recipients in Georgia have a few more months to blaze before they’ll have to pass a drug test to receive benefits. Smoke two joints before you prepare for all the incoming lawsuits. [Washington Post]
When we crowned the University of Michigan Law School as our Most Honest Law School, my colleague Elie Mystal chalked it up to their good, old Midwestern values. But just a few weeks after winning our March Madness competition, Michigan Law actually did something really honest — the school released all of its employer statistics for the classes of 2009 – 2011 (not to mention that it was the first elite law school to release its 2010 NALP report to Law School Transparency). Now if that’s not transparent, then we really don’t know what is.
While you ponder when the rest of the T14 is going to step up to the plate and reveal all of its employment information, we’ll help you analyze the data, and tell you what it could mean for you….
We are at the final showdown for our March Madness bracket, and all the private school sissy-boys have been kicked to the curb. Apparently, you can’t buy your way into a moral or ethical principle. Only the state can inculcate you into virtue.
For the first time, I think ever or at least as long as I’ve been here, in an ATL contest of law schools, the final battle is between two state schools. And it happens in our contest about honesty and ethics. I guess there’s a lot of truth that comes out after a long round of flip-cup….
In real life, I am in a pitched battle for second place in my NCAA tournament poll with these guys. I can’t win because the guy in first has the exact same bracket as I do from here on out. But I can still finish second, so long as one of my “friends” who is actually a floppy-headed Kansas fan doesn’t get his JayHicks into the finals.
In more law related news, our Most Honest Law School bracket is chugging along.
The real March Madness has been batsh*t crazy. Lehigh? Norfolk State? As sometimes ATL contributor Marc Edelman pointed out, schools that have top law schools took a beating with their basketball teams. Harvard, Michigan, UVA, Duke, Georgetown, and Texas were all in the tournament, and now they’re all sitting at home.
But in the Above the Law bracket, top schools survive and thrive. We’re asking readers to pick the most honest law school. We’re asking readers to tell us which law school graduates are the most honorable and ethical in their private practice.
So far, the readers are telling us they’re unable to understand anything beyond what U.S. News tells us….
* With 269 partners to go, Dewey need to start panicking yet? Twelve additional partners, including practice group leaders, have jumped ship, bringing the grand total of partner-level defectors to 31 since January. [DealBook / New York Times]
* Late-breaking news: law schools’ numbers still don’t add up. The New York Times has already said its piece on the problem with law schools, so the Wall Street Journal decided that it was time to chime in again. [Wall Street Journal]
* Army Staff Sergeant Robert Bales, the man accused of going on an Afghan killing spree, will be represented by Ted Bundy’s lawyer. In the court of public opinion, that’s equivalent to pleading guilty. [Bloomberg]
* “I have had it with these motherf**king snakes breastfeeding women on this motherf**king plane!” A mother has settled a lawsuit with her airline over being kicked off a plane for nursing her child. [Businessweek]
* Here’s a fashion tip for law firm staff: you wear orange shirts in prison, not at the office. Think twice next time before you wear that color to work, because you might get fired like these folks in Florida. [Sun-Sentinel]
* Let’s face it, there is no escape from the law, not even in your free time (if that even exists). That being said, here’s a lawyerly crossword puzzle, inspired by Nina Totenberg’s reporting on legal affairs. Have fun! [NPR]
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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