It's a terrible thing when you have to wait too long for your chance to rule.
The entitlement reign of the really old will not end soon. With advances in modern medicine, advances that the Supreme Court will tell us how we’re allowed to pay for, today’s old people will live and work longer than any previous generation on Earth.
Or at least take up space.
While a family might be able to shove Grandpa into a nursing home, modern businesses are having a really tough time getting septuagenarian or even octogenarian partners to go away, and leave their clients behind. The Equal Employment Opportunity Commission ruled that Kelley Drye owes one of its partners over half a million dollars for trying to push him into retirement, and it opens a wide door for old people to hang onto to their offices and their clients well after they can no longer chew the leather.
Maybe it’s the right thing to do, but it’s got to be annoying for the Prince Charles-esque 60-year-old “up and comer”….
* Well, this could definitely be one of the reasons why Cravath hasn’t given out any spring bonuses to associates yet this year. They probably had to spend all of their money to clean up their allegedly fly-infested cafeteria. [Am Law Daily]
* Women in Virginia will now be able to politely decline their pre-abortion transvaginal ultrasounds in favor of abdominal ones. Oh, how nice! Look at that, girls, we totally won the war on women. [CBS News]
* Things Dharun Ravi texted to Tyler Clementi on the night the latter committed suicide? “I’ve known you were gay and I have no problem with it.” Of course you knew, you watched his sexual encounters via webcam. [CNN]
Earlier this year, the U.S. Equal Employment Opportunity Commission sued Kelley Drye & Warren for stripping aging partners of equity in the firm.
Here at ATL, we have mixed feelings about the elderly. In an ATL debate over mandatory retirement policies at law firms, Elie endorsed kicking old partners to the curb, while I objected to age discrimination policies. The EEOC also sees age bias in mandatory retirement.
Five years ago, Sidley Austin paid $27.5 million to settle a EEOC complaint on behalf of 32 de-equitized partners. But it looks like Kelley Drye will resist settling, and is not afraid to rough up the ‘decrepit’ New York partner, Eugene D’Ablemont, who wants to keep raking in the big bucks…
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
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