Fabulosity

River House

As we roll into the July 4th holiday weekend, it’s a good time for a Lawyerly Lairs post. What could be more American than great real estate? Great real estate once owned by a great American lawyer, in fact?

The River House is one of Manhattan’s most magnificent addresses. This elegant pre-war co-op, offering incredible views of the East River, has been rightly described as “one of the most luxurious, romantic and private apartment buildings ever built.”

As you can see from the building’s Wikipedia entry, its celebrity residents over the years have included Henry Kissinger and Uma Thurman. Legal eagles like Philip Bobbitt and Kermit Roosevelt [sorry, wrong Kermit Roosevelt] have also made their nests here. And this legal eagle, a Paul, Weiss partner whose penthouse is on the market for almost $15 million, might be the most high-flying of them all….

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We’re in the home stretch of October Term 2013 at the Supreme Court. After the final two opinions are handed down on Monday, the justices will scatter to the winds (and supplement their incomes with teaching, often in lovely European destinations).

During the month of July, the clerk classes will turn over. Each week, new clerks will arrive and outgoing clerks will depart — do pass go, do collect your $300,000. (Or more; we’re hearing rumors of possible upward movement this year; drop us a line if you have info to share.)

So now is a good time to look at the latest SCOTUS clerk hires. We have almost all the clerks for October Term 2014, plus a few new hires for October Term 2015….

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Everyone smile and say “certiorari”!

The opinions released by the Supreme Court this morning were not super-exciting. The good news, pointed out by Professor Rick Hasen on Twitter, is that “[t]here are no likely boring #SCOTUS opinions left.” (But see Fifth Third Bancorp v. Dudenhoeffer, noted by Ken Jost.)

So let’s talk about something more interesting than today’s SCOTUS opinions: namely, the justices’ recently released financial disclosures. Which justices are taking home the most in outside income? How robust are their investments?

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Hop in the DeLorean and travel back in time with us.

Earlier this week, the good folks over at Vault released their annual list of the nation’s 100 most prestigious law firms. As we noted in our analysis of the list, the top 15 for this year don’t look very different from the top 15 from last year.

Wachtell Lipton topped the list for the 12th year in a row. But as Vault noted, Cravath isn’t far behind — and could retake the crown that it relinquished to Wachtell back in 2004.

Yes, that’s right — Wachtell hasn’t always been #1. On this “Flashback Friday,” let’s look back at the Vault rankings from 2008 and 1998 and see how things looked in the past….

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It pains me to say this, given my own predilection for prestige worship, but here’s a question: does prestige matter as much as it used to? In an era of greater access to information, a law firm’s overall prestige arguably matters less than it once did.

If a client is looking for an excellent firm in a particular practice area, it can now easily access information about which firms, and even which individual lawyers, excel in which niches. It no longer has to rely on a firm’s brand name as a proxy for a specific strength. And other factors matter to the public as well. Is a firm a good place to work? How stable is its partnership, in this era of increased lateral movement? Is the firm growing or declining?

But make no mistake: prestige is still hugely important. Which is why the Vault law firm rankings are so eagerly anticipated each year.

The latest rankings from Vault of the country’s 100 most prestigious law firms just came out. How do they look?

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If you appreciate the information and entertainment provided by Above the Law, please send us tips. You can reach us by email or by text message (646-820-8477).

Sometimes folks ask us, “What’s in it for me?” For example, on last week’s story about the epic UVA email screw-up, one reader wondered why UVA students told us about it in the first place.

Well, venting about something can be therapeutic. But sometimes tipping ATL can help people out in more specific and concrete ways. Here’s a great story involving a reader who emailed us about a problem that we helped to get fixed….

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Ten years is a long time. Ten years can take a kid from birth to fourth grade. I wrote my first blog post ten years ago yesterday; it feels like a lifetime ago.

What does a decade mean in the career of a Supreme Court clerk? One law professor has done some stalking of research into the SCOTUS clerk class of October Term 2004 and what they’re up to today. Here’s what he found out….

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We’ve said it in the past, but we’ll say it again because it still rings true. Men and women working in the law are very, very busy. Billable hours come first, and everything else comes much further down in the constantly growing list that we call life. A window with a view of the outside world is a luxury, because stepping foot outside the office to do your errands is but a dream. It’s sad, but these folks can’t even find the time to go shopping anymore.

Just imagine what you would be able to accomplish if you were able to get a personal shopper to carry out life’s little pleasures for you. Thanks to the wonders of the internet, you can. Enter Shop It to Me, a free fashion website with a mission to be the best online personal shopping assistant in the world. You know what you love, and Shop It to Me finds it for you in your size — on sale.

What could be better? A $250 shopping spree sounds fun. Keep reading to find out how you can win one…

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Ronan Farrow

A few days ago, lawyer turned television personality Ronan Farrow commented on Twitter, “All my business meetings are like ‘Blue is the Warmest Color’ and all my dates are like ‘Schindler’s List’, am I doing something wrong.” The tweet was widely retweeted and favorited by Farrow’s 250,000-plus followers (despite receiving criticism from some quarters).

It’s surprising that Farrow’s dating life isn’t going better. In addition to being extremely handsome, he’s a Rhodes Scholar and Yale Law School graduate with his own television show and celebrity parents (Mia Farrow and either Woody Allen or Frank Sinatra). What more could one ask for in a lover?

How about some solid real estate? Well, Ronan’s got that too — a New York apartment that he purchased for a seven-figure sum….

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In-house legal jobs are growing in prestige. As our very own Mark Herrmann recently noted, in-house lawyers were once viewed as “the folks who couldn’t succeed at real jobs,” namely, jobs at firms. But that’s no longer true today, Herrmann argued, citing the trend of Biglaw partners leaving their firms for gigs as corporate counsel.

What is behind the growing allure of in-house jobs? Sure, the work is interesting and exciting, and yes, bossing around outside counsel is fun. But improving pay packages also play a role. As you can see from the rankings of America’s best-paid general counsel, GCs at top companies can take home millions.

And those rankings, by Corporate Counsel, focus on cash compensation. In-house lawyers can make many multiples of their cash comp through stock.

Take Vijaya Gadde, Twitter’s general counsel. She became GC less than a year ago, but she already owns tens of millions in TWTR shares, as revealed in recent reporting about the end of Twitter’s IPO lockup period….

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