‘Keep your lousy lunches and wine tastings. I’d rather be driving a tractor!’
We recently extended an enthusiastic hello to Biglaw summer associates. And now, barely into June, it’s time to say goodbye — to one unusual summer associate.
Summer associate gigs are highly coveted positions. They involve lavish lunches, pool parties, and big paychecks for little work. And they’re harder than ever to obtain, which only increases their allure.
Yet one summer associate just voluntarily left his law firm — and sent around a colorful, firm-wide departure memo explaining why. Check it out; what do you think of his decision?
This is my first column for Above the Law on the Supreme Court. In an effort to help me generate effective linkbait, the Supreme Court issued an opinion yesterday at the intersection of bankruptcy and tax law for farmers — Hall v. United States.
Basically, Hall means that, if you’re a farmer and you declare bankruptcy on your farm under Chapter 12 (“the one just for farmers”), and, while in bankruptcy, you sell your farm, you will still have to pay capital gains tax on the sale of your farm — any liability to the IRS is not dischargeable.
Perhaps the most exciting part of the opinion is that Ninth Circuit was affirmed. Though, in fairness, the Ninth Circuit opinion was written by Judge O’Scannlain, so it’s not as though the Supreme Court affirmed Judge Reinhardt.
Also, farmers who are in bankruptcy and sell their farms now have to pay tax on the profits from those sales. I’m sure much of the Midwest is rioting in response.
For those who practice tax law, bankruptcy, or farming law, you will definitely want to read the opinion and some of the write-ups on it.
But the most exciting part of the morning involved new members of the Supreme Court bar….
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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: email@example.com.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
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.