Tomorrow, March 15, the end will finally come for Howrey. Later this month, the law firm of David J. Stern, formerly known as Florida’s foreclosure king, will shut its doors.
This week, we’ve got another sizable law firm announcing its dissolution. Obviously not everybody is catching on to this economic recovery. While some firms are doling out the green, in the form of spring bonuses, other firms are handing out pink slips.
Today’s law firm obituary also comes from South Florida. Yes, we know, shocking that Florida is still suffering the effects of the recession. But there are another 280 people down there who will soon need to find new jobs….
Back in September 2010, we bestowed Lawyer of the Day honors upon David J. Stern, aka Florida’s “Foreclosure King.” We noted Stern’s rise into the ranks of self-made millionaires, despite not having attended some fancy first-tier law school. (Stern graduated from the South Texas College of Law, a fourth-tier school.)
We marveled at Stern’s wealth: a $14 million mansion here, a $7 million condo there, Ferraris and Porsches galore, and a 130-foot, $20 million yacht. We noted that Stern, thanks to the success of his booming foreclosure-law practice, was “running financial circles around all those Stanford and NYU law grads who wound up as Biglaw partners.”
Alas, in the past few months, David Stern’s fortunes have taken a turn for the worse….
Usually I’m happy to stand with law students against the slings and arrows of outrageous law school administration.
But not this time. This time, instead of a noble law student fighting the good fight, I see an annoying whiner who wants law school to be about teddy bears and rainbows.
A student at the University of Miami School of Law is trying to get the student body to adopt a “Student Bill of Rights.” The proposal lists a number of things that “shall not be violated.” Even though I agree with some of these points, codifying them as “rights” makes me flaccid. We’re talking about law school, not summer camp. It’s supposed to be hard. It’s not supposed to be fair.
We can condemn law schools until the cows come home for inducing students to sign up under false pretenses. But once you matriculate, law schools turn into the warden from Shawshank Redemption: “Put your trust in the Lord; your ass belongs to me.”
* Eric Turkewitz channeling Mayor Michael Bloomberg: “Look, let’s be blunt here. Who is in a better position to pay the costs of an injury if a city bus injures people? Our strapped city budget, or the victims?” [New York Personal Injury Law Blog]
* Obama says drug legalization is worth a debate. For those scoring at home: we can talk about legalizing drugs, but we can’t talk about controlling guns. [Huffington Post]
* Meanwhile, Florida criminalizes… bath salts? Bonobo Bro has the winning blurb: “Check out this example of the brocist nanny state trying to get in the way of spring break, bath salts that have cocaine like effects and a few other of the principals this great nation was founded on.” [WJHG]
* Rep. Mike Pence of Indiana won’t seek the Republican presidential nomination in 2012. [Politico]
* Speaking of former Republican presidential hopefuls, Fred Thompson prepares to lobby on behalf of trial lawyers. Seriously. Cancel Law & Order and the universe starts breaking down. [WSJ Law Blog]
* The number eight proves lucky for one taker of the New Hampshire bar exam — and the number $140,000, not so lucky. After passing the NH bar exam on his eighth try, the debt-laden lad gets dinged on character and fitness — a familiar tale by now. [Legal Profession Blog via ABA Journal]
* Gotta love it when Jamie Dimon gets catty. [Dealbreaker]
* A corporate partner in the Moscow office of Baker Botts apparently took his own life. John Sheedy, R.I.P. [Am Law Daily]
Sometimes lawyers are rude — really, really rude. And when they get extremely rude in emails with one another, sometimes the result is discipline from the bar. So, counselors, please be polite; treat each other with courtesy and respect.
The importance of common courtesy is a lesson that Florida lawyers Nicholas Mooney and Kurt Mitchell learned the hard way. After they called each other some nasty names over email, charming monikers like “scum sucking loser” and “retard,” they both wound up getting disciplined by the Florida Supreme Court.
Let’s take a closer look at their crazy correspondence, shall we?
When we last discussed Kumari Fulbright, the Arizona beauty queen and law student turned felon, we mentioned that she was going to be sentenced in early 2011 for her role in the kidnapping and torture of her ex-boyfriend. Well, it looks like Christmas came early for Kumari — her sentencing hearing took place yesterday.
Fulbright was sentenced to two years in prison and six years of probation. She also has to pay $15,000 in restitution. The sentence itself wasn’t a surprise, since it was consistent with the plea agreement we previously mentioned.
Far more shocking was the truly hideous hairstyle that Kumari sported at sentencing….
In the comments earlier today, I remarked that it feels like law students are gearing up for finals. You can just tell. We’re getting more and more psuedo-substantive legal arguments that only look at one side of the issue, but are said as if the commenter is some kind of expert in whatever law he or she is talking about.
It’s cute. I really like this time of year. It’s like watching chicks frantically trying to learn how to fly before the flock has to migrate south.
[Cue David Attenborough voice] While it appears that the youngsters are having fun and games, this is a time of deadly seriousness for the students. Nerves are getting frayed; passions are inflamed. In the American South, we have an example of just what can happen when two law students collide over proper social etiquette at a time when ‘A’s are scarce. At a place called Florida State University College of Law, a missed assignment sent two dominant females into the arena called “Facebook”….
Warning: consumption of artichokes can be hazardous to your health. Especially if you eat the entire thing, leaves and all.
This is a lesson that Arturo Carvajal, a doctor in Miami, learned the hard way. According to Dr. Carvajal, in May 2009 he ate at a Houston’s restaurant in Miami Beach, where he ordered the grilled artichoke special. Having never eaten an artichoke before, he ate the whole thing — including the tough, practically inedible outer portion of the leaves.
After doing so, Dr. Carvajal experienced… tummy trouble. One “exploratory laparotomy” later, he learned that he had artichoke leaves stuck inside his bowel. Oy.
Back in September, we wrote about David J. Stern, “Florida’s Foreclosure King,” who earned our Lawyer of the Day title for his ascendancy from the fourth tier to the lap of luxury. At the time, we sang Stern’s praises. Stern, a graduate of South Texas Law, employs 900 people, made $17.8 million in 2008, owns $60 million in real estate, and collects yachts.
Thanks to the New York Times, we knew back then that Stern may have been a shady character. But we kind of brushed off those pesky little questions about his “ethics” and “questionable practice methods.” I mean, come on, how many lawyers can say that they drive a Bugatti?
Well, maybe we shouldn’t have overlooked these issues so quickly…
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
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.
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