Fabulosity

The Beresford (at right)

Seven years ago this month, M&A lawyer Gregory Ostling was elected to the partnership of Wachtell Lipton, effective January 2007. In our story about the news, we referred to Wachtell as “obscenely profitable and dazzlingly prestigious.”

Wachtell routinely tops the Am Law 100 rankings in profits per partner and the Vault rankings of law firm prestige. In 2011, according to the American Lawyer, WLRK enoyed PPP of $4.975 million.

Because the firm has a single-tier partnership and is fairly lockstep (with just a handful of senior partners off the lockstep), even junior partners at Wachtell do very well for themselves. So maybe it shouldn’t be surprising that a relatively young partner like Greg Ostling just bought not one but two multimillion-dollar apartments at the Beresford — one acquired from a famous athlete, and one from an heiress — which presumably he’s going to combine into a single fabulosity-oozing residence….

double red triangle arrows Continue reading “Lawyerly Lairs: Two $3 Million Apartments Are Better Than One”

Earlier this week, Above the Law hosted its first-ever Fashion Law Forum in Los Angeles at the W Hollywood. Despite the traffic on the 405, the event was very well-attended, and we nearly had a full house in the audience. Everyone was dressed to the nines, and we couldn’t have been happier with how this elegant soiree turned out.

The highlight of the evening was a lively discussion, moderated by ATL’s Staci Zaretsky, about all of the ins and outs of fashion law. Panelists included Staci Riordan, Chair of the Fox Rothschild Fashion Law Practice Group; Jane Shay Wald, Chair of Irell & Manella’s Trademark Practice Group; Deborah Greaves, Secretary and General Counsel of True Religion Brand Jeans; and Erica Alterwitz, Assistant General Counsel of BCBG Max Azria Group Inc.

If you’re interested in becoming a fashion attorney, here are three takeaways from our esteemed panelists that you can use to get a better understanding of the industry before you dive in…

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Justice Clarence Thomas in conversation with Judge Diane Sykes.

Over the past few years, some amazing speakers have appeared at the Thursday evening dinner of the Federalist Society’s National Lawyers Convention. Last year, Justice Samuel A. Alito offered a very funny look back at his time at Yale Law School. In 2010, Justice Antonin Scalia engaged in a spirited and wide-ranging conversation with legal journalist Jan Crawford.

Last night’s event will be tough to top. Justice Clarence Thomas, speaking with Judge Diane Sykes of the Seventh Circuit, delivered remarks that were “equal parts hysterical, poignant and inspiring,” as Texas Supreme Court Justice Don Willett noted on Twitter.

I was lucky enough to attend, seated just one table away from the stage. Here’s my account of the evening (plus a few photos)….

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Partnership at Cravath: Biglaw’s ultimate brass ring.

Working at Cravath, Swaine & Moore offers many advantages. The work is interesting and cutting-edge. The exit opportunities are unmatched. The pay and prestige are great (even though, as we’ve repeatedly emphasized, Biglaw isn’t all about the benjamins).

One of the distinctive features of Cravath is the “Cravath system,” in which associates work closely with a particular partner (or small group of partners) before rotating into another area to work with a different partner. This system produces well-rounded and well-trained lawyers. According to the results of our associate survey — please take it if you haven’t already done so — Cravath is the #1 firm for training corporate lawyers and the #2 firm for training litigators.

Of course, Cravath has its downsides; the firm is not for everyone. The hours are long, even by Biglaw standards. The atmosphere is intense; it’s not a laid-back sort of place. And historically partnership prospects haven’t been great, due to the sheer selectivity of the CSM partnership.

But are partnership prospects improving? For the third year in a row, Cravath has named a large number of new partners. How many of them are there? Might you know some of them?

double red triangle arrows Continue reading “New Partner Watch: Another Big Partner Class At Cravath”

Supreme Court clerks are some of the brightest young legal minds in the country. But their talents don’t come cheap. Every year, Biglaw firms fall all over each other trying to woo outgoing SCOTUS clerks, showering them with six-figure signing bonuses (on top of robust base salaries and year-end bonuses, of course).

The going rate in terms of Supreme Court clerkship bonuses is a cool $300,000. Which top law firm just dropped $1.8 million in signing bonuses for a half-dozen SCOTUS clerks?

double red triangle arrows Continue reading “Which Law Firm Won The SCOTUS Clerk Sweepstakes?”

Is it acceptable to say a friendly hello to a Supreme Court justice if you see one of the nine out in public? That’s the question posed in a recent Dear Prudence column. As a federal judicial stalker an Article III groupie myself, I say yes. Because who knows? The justice might give you an autograph (and some free wine).

But some people don’t need to chase after Supreme Court justices. Some people will get to work closely with the members of the high court as law clerks, crafting the opinions that will rule us all.

Thanks to everyone who responded to our recent request for SCOTUS clerk hiring news for October Term 2014. Let’s look at the updated list of clerks hired so far….

double red triangle arrows Continue reading “Supreme Court Clerk Hiring Watch: The Early Word On October Term 2014″

The worlds of fashion and law have been sewn together to create a niche practice known as fashion law, where lawyers strut their stuff on the catwalk of cutting-edge intellectual property and business matters. Won’t you join the fun?

We are pleased to invite you to an evening of cocktails, canapés, and conversation focusing on the many ins and outs of fashion law. The event will take place in Los Angeles, California on November 12th from 6:30 p.m. to 9:00 p.m. This event will be a great opportunity for attendees to hear legal leaders share their insights on success, meet members of the Above the Law team, and network with peers.

As an added bonus, representatives from M Dot Design Studio will be on hand with a rack of clothing that guests can peruse, and will offer accessorizing tips, give out discount cards to all attendees, and raffle off a piece of jewelry for one lucky guest. You’ll also be able to chat with representatives from Flywheel about the hottest new indoor cycling craze.

Our esteemed panelists confirmed for the event include:

  • Staci Riordan, Chair of the Fox Rothschild Fashion Law Practice Group
  • Jane Wald, Chair of Irell & Manella’s Trademark Practice Group
  • Deborah Greaves, Secretary and General Counsel of True Religion Brand Jeans
  • Erica Alterwitz, Assistant General Counsel of BCBG Max Azria Group Inc.

There is no charge for this event. Thanks to our friends at Recommind for their generous sponsorship.

Please RSVP below. We look forward to seeing you in Los Angeles!

Let us give thanks to all the talented attorneys who leave Biglaw partnerships to serve as federal judges. First, this type of public service, often made at significant financial sacrifice, is in the legal profession’s finest traditions. Second, by throwing their hats into the federal judicial ring, these nominees let us ogle their personal finances — a subject of keen interest, and one that’s less than perfectly transparent.

Last month we used a pair of Ninth Circuit nominations to gain insight into partner pay at Munger Tolles & Olson. Today we use a D.C. district court nomination as a vehicle for looking at profits per partner at two other elite law firms, Baker Botts and Covington & Burling….

double red triangle arrows Continue reading “A Peek At Partner Pay: Baker Botts, Covington & Burling”

We’re a few weeks into the new Supreme Court Term, and it’s shaping up as a very interesting one. As veteran SCOTUS litigator Tom Goldstein said last month when he kindly joined us for one of our ATL events in D.C., even if the two prior Terms might have offered more fodder for the general public — Obamacare, same-sex marriage, affirmative action — the current one, October Term 2013, could turn out to be the biggest one for legal nerds in terms of the actual direction of the law in several areas.

Which brilliant young lawyers will get a front-row seat to the making of history? We’ve previously published the official list of OT 2013 law clerks, which we received from the Supreme Court’s Public Information Office. And now we have another gift from the PIO: the updated official list of the current crop of law clerks, which lists their law schools and prior clerkships.

Which law schools and feeder judges produced the most Supreme Court clerks for October Term 2013? And how is hiring looking for the following Term, October Term 2014?

double red triangle arrows Continue reading “Supreme Court Clerk Hiring Watch: The Updated Official List For October Term 2013, And A Request for Tips”

The worlds of fashion and law have been sewn together to create a niche practice known as fashion law, where lawyers strut their stuff on the catwalk of cutting-edge intellectual property and business matters. Won’t you join the fun?

We are pleased to invite you to an evening of cocktails, canapés, and conversation focusing on the many ins and outs of fashion law. The event will take place in Los Angeles, California on November 12th from 6:30 p.m. to 9:00 p.m. This event will be a great opportunity for attendees to hear legal leaders share their insights on success, meet members of the Above the Law team, and network with peers. Representatives from M Dot Design Studio will be on hand with a rack of clothing that guests can peruse, and will offer accessorizing tips, give out discount cards to all attendees, and raffle off a piece of jewelry for one lucky guest.

Our esteemed panelists confirmed for the event include:

  • Staci Riordan, Chair of the Fox Rothschild Fashion Law Practice Group
  • Jane Wald, Chair of Irell & Manella’s Trademark Practice Group
  • Deborah Greaves, Secretary and General Counsel of True Religion Brand Jeans
  • Erica Alterwitz, Assistant General Counsel of BCBG Max Azria Group Inc.

There is no charge for this event. Thanks to our friends at Recommind for their generous sponsorship.

Please RSVP below. We look forward to seeing you in Los Angeles!

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