One firm just started pocketing 20 percent of partner pay.
Many lessons can be drawn from the collapse of Dewey & LeBoeuf. We’ve learned, for example, that it’s dangerous to have a law firm name that’s highly susceptible to puns. (Dewey know why that is? Howrey going to find out? Heller if I know.)
Another lesson: avoid excessive dependence upon bank financing. When a firm starts to spiral downwards, that spiraling can be accelerated by a bank calling a loan, not renewing a credit facility, or otherwise taking steps to protect itself that, while reasonable for the bank, can be damaging to the firm.
* You think you know Justice Clarence Thomas, but you have no idea. Here are several myths about the silent Supreme Court star that he was capable of busting in just this term alone. [WSJ Law Blog (sub. req.)]
* According to the CBO, the immigration reform bill being considered in the Senate would allow eight million immigrants to gain legal status and lower the deficit by billions. But alas, dey still terk er jerbs! [NPR]
* Google is doing its best to try not to be evil by asking the FISA court to ease up on gag orders preventing the internet giant from telling the world about what it’s required to give to the government. [Washington Post]
* Florida firm Becker & Poliakoff will withhold 20% of equity partners’ pay, a move that made some lawyers cry. The firm is apparently planning to save the cash for a rainy day. [Daily Business Review]
* Paul Mannina, an attorney with the Labor Department charged with sexually assaulting a coworker, was found in his cell with his throat slashed. Police are investigating the death. [Washington Post]
* FYI, your aspirational pro bono hours — or complete and utter lack thereof — will now be public record in New York, and you must report them on your biannual registration forms. [New York Law Journal]
* Coming soon to a law school near you: really old books from the 13th century that’ll probably turn into dust if you dare try to read them. You can find this nerdgasm over at Yale Law. [National Law Journal]
* The family of Lauren Giddings, the slain Mercer Law graduate, has filed a $5 million wrongful death suit in federal court against accused killer Stephen McDaniel in the hopes of finding her remains. [Telegraph]
* Three SUNY-Buffalo Law Students have a band and their cover of Icona Pop’s I Love It is trending. The Spin Wires turn the electro house number into an Offspring like rock song. Video after the jump… [BroBible]
I don’t know that you’re taking this whole thing seriously. I just saw you slap your attorney on the backside. Is there something funny about this? The whole courtroom was laughing. I’m not going to accept these plea negotiations. This isn’t a joke.
* Meow! An ethics complaint has been filed against Judge Edith Jones, the judicial diva herself, over insensitive comments about race and the death penalty that she made at Penn Law. [San Antonio Express-News]
* In the pissing contest over judicial confirmations, it’s fair to say that Obama’s recent nominees to the D.C. Circuit won’t receive a hearing, much less be confirmed, any time soon. [WSJ Law Blog (sub. req.)]
* Nobody likes patent trolls, not even the president. Obama went on the offensive yesterday, promising to curb unwarranted intellectual property litigation filed by pesky profiteers. [Thomson Reuters News & Insight]
* Speaking of patents, there’s a new exchange being formed for public trading rights. Please welcome the Intellectual Property Exchange International, the first exchange platform of its kind. IP: so hot right now. [DealBook / New York Times]
* After a review of evidence that Colorado movie theater shooting suspect James Holmes was whacked out of his mind at the time of the shooting, he was allowed to enter an insanity plea. [Bloomberg]
* The judge in the Oscar Pistorius case has adjourned the track star’s legal proceedings until August on account of a “trial by media.” We’ll probably continue to speculate about it until then. [New York Times]
* A woman is suing because she got her ass kicked by a gang of hookers at a Florida hotel. She claims the prostitutes thought she was infringing on their territory. Nope — she’s just a Jersey girl. [Fox News]
Turns out, it rains in Florida. I know this because the entire state is basically a reclaimed swamp whose natural, soggy wildlife has been replaced by hot women.
Unfortunately, there are some people in Florida that don’t understand that it rains there often. These people seem to be in charge of the maintenance of one South Florida courthouse. You see, occasionally the government actually needs money to function properly. Otherwise you end up needing a kayak to go to court…
Judge Debra Nelson charged through a string of motions in a pre-trial hearing this morning, including a ruling that the case will actually go to trial on June 10 as scheduled. The defense had sought a delay because apparently a one-witness case was too difficult to prepare in a mere 16 months or so.
But the real action revolved around the evidentiary rulings. Most of the rulings were pretty straightforward. A little, too straightforward.
What I mean is that most of the evidence at issue was so obviously prejudicial that the only purpose served by attempting to introduce the evidence is to take advantage of press coverage to poison the well of potential jurors…
* Justin Bieber has apparently abandoned his 20-week-old monkey, Mally, after having her confiscated because he couldn’t comply with animal control laws in Germany. Now in a shelter somewhere in Germany, there’s one more lonely girl. [Lowering the Bar]
* Ann Althouse posted FOUR TIMES about Barack Obama’s umbrella over the weekend. Somebody is really putting off grading those papers. [Althouse]
* Alabama judge faces $25 million lawsuit alleging he improperly took a case from another judge and issued damaging rulings. This is the judge who ran against Chief Justice Roy “Don’t Remove the Ten Commandments From the Courthouse” Moore. The moral of the story is: don’t use the Alabama judicial system. [Legal Schnauzer]
* The FBI may be looking into whether lawyers conspired to have opposing counsel arrested on DUI charges by using a “comely paralegal” to get the lawyer drunk and then ask him to drive her home. [Tampa Bay Times]
* Statewide Virginia Republican candidates are no friends of the libertarian wing of the conservative movement. On the other hand, are there viable conservative candidates not named “Paul” that are friends of the libertarian wing of the conservative movement? [CATO at Liberty]
Last month, we wrote about a law school graduate who decided to “renounce” his U.S. Citizenship in a departure memo to no one in particular. The letter was somewhat threatening and was sent in the wake of the Boston Marathon attack, so it was a little bit difficult to make fun of him.
But now the guy is out with a video. And it seems like maybe he’s been checked out by the FBI? At the very least, he doesn’t seem to be actively threatening to go on a shooting spree.
Also, a tipster says his “Calvin Candie” voice is a recent affectation. I think we can all feel safe laughing now…
Tim Tebow is one of the most polarizing figures in America. And for good reason. While a good deal of America finds him to be a media-created proselytizer with the foot speed of a backup Tight End and the arm strength of a backup Tight End, the rest of America is stupid. And this is coming from someone who sported quite the Tebowner when the Broncos embarked on their unbelievable run with Tebow at the helm two years ago. It was magical. It was exhilarating. It was a tremendous run of defensive football.
There are always athletes that explain something about our culture. Our divided self is on full display every time Floyd Mayweather fights. It was on display when OJ Simpson literally got away with murder. Bird and Magic did something similar, if on a lesser scale, in the 80′s. The common thread, in case it isn’t already obvious, is that our polarizing sports figures have largely explained a black-and-white America. Our problems with race, that old American bugaboo, have often found their expression in sports. And for good reason as most men in this country pay more attention to sports than they do politics or entertainment or law or any other bullshit thing that isn’t debated on ESPN’s First Take. If men have a problem in this country, that problem will find its way into our sports.
But what of Tebow? Why do we debate him? Why do we care about a bad quarterback? Why do you care?
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 protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.