Which firms had the biggest revenue and the highest profits per partner last year, according to the latest Am Law 100 rankings?
* “Yes, it is true.” Justice Scalia admitted in a speech this week that he was guided to the right by his colleague, Justice Thomas, who’s apparently “a very stubborn man.” [Wall Street Journal (sub. req.)]
* It’s about time to say so long to your ticking tax time bomb: in President Obama’s proposed budget for 2014, he eliminates taxes on forgiven loan debt under all IBR plans. [Bucks / New York Times]
* “I am the luckiest man in the world.” Larry Macon, an Akin Gump partner from Texas, had nearly finished the Boston Marathon when the bombs exploded, but lived to tell his tale. [Am Law Daily]
* Because sometimes you need to steal $374K worth of copy toner. This ex-Fried Frank staffer pleaded guilty to grand larceny, and is looking at up to 15 years in jail. [Thomson Reuters News & Insight]
* Judge Victor Marrero isn’t a fan of SEC policy, but when it comes to this civil insider trading case, SAC Capital may get to walk away without admitting or denying anything. [DealBook / New York Times]
* This Yale Law graduate is suing Brooks Brothers over a three-button suit, and wants $2K for the 90 minutes he spent arguing over it in the store. Who is the $1320/hour man? [New York Daily News]
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Biglaw, Elena Kagan, Gay, Gay Marriage, Law Professors, Law Schools, Mergers and Acquisitions, Midsize Firms / Regional Firms, Morning Docket, Ruth Bader Ginsburg, SCOTUS, Securities and Exchange Commission, Supreme Court
* OMG! Get ready to have a lawgasm, because the Supreme Court is going to be releasing same-day audio recordings from oral arguments during next week’s gay marriage cases: Proposition 8 and the Defense of Marriage Act. [National Law Journal]
* “Way to go, Justice.” Justices Ruth Bader Ginsburg and Elena Kagan work out with a personal trainer who’s got a client list that would make Article III Groupie swoon — and he just so happens to be a records manager at D.C.’s federal court. [Washington Post]
* Debevoise & Plimpton’s littlest litigatrix, Mary Jo White, sailed her way through the Senate Banking Committee with a vote of 21-to-1. Her nomination to lead the SEC will now head to the full Senate. [DealBook / New York Times]
* “Our 2012 numbers aren’t as good as we would have liked.” Gee, ya think? From attorney headcount to gross revenue to profits per partner, just about everything was down in 2012 for Fried Frank. [Am Law Daily]
* Eckert Seamans will be merging with Sterns & Weinroth, adding 17 partners and seven associates to its ranks. Someone please come up with the semen joke so I don’t have to. [Philadelphia Business Journal]
* As if Inside the Law School Scam weren’t candid enough, Professor Paul Campos sat down for an interview to discuss how to make an informed decision when considering law school. [U.S. News & World Report]
* “It’s very hard to copyright a story about an individual growing up in the ghetto and getting involved in crime.” Go Third Circuit, it’s your birthday, we gon’ affirm that like it’s your birthday. [New Jersey Law Journal (reg. req.)]
* I believe you have my stapler? A former Fried Frank staffer has been accused of stealing more than $376K worth of copy machine ink from the firm and selling it on the black market for office supplies. [Am Law Daily]
* Governor Andrew Cuomo nominated Jenny Rivera, a CUNY School of Law professor, to fill a vacant New York Court of Appeals seat. If confirmed, she’ll be the second Hispanic to sit on the court. [New York Law Journal]
* This’ll please the gun nuts: Governor Cuomo’s gun-control bill was passed by the legislature and signed into law, officially making New York the state with the toughest gun restrictions in the nation. [New York Times]
* And this right here is the lawsuit equivalent of half-court heave. A lawyer is suing the San Antonio Spurs because the team’s coach sent all of its best players home to rest without the fans’ prior knowledge. [ESPN]
* “We know in our hearts that for the United States of America, the best is yet to come.” Barack Obama was re-elected as president. Bring on the hope and change! No, seriously. [New York Times]
* In news that shouldn’t come as a surprise, regardless of who won the presidential race, there are still post-election voting issues that will likely be resolved in the courts. [Blog of Legal Times]
* But what we really want to know is who will be our country’s next attorney general. Because if anyone can fill Eric Holder’s shoes, it’s Preet Bharara, the U.S. attorney for the S.D.N.Y. [WSJ Law Blog]
* In other important news, several states approved gay marriage ballot initiatives, and others legalized marijuana. But hopefully you don’t have a case of the munchies yet, because federal law still says it’s illegal. [CNN]
* They helped American citizens “ba-rock” the vote: hundreds of law students from around the country rallied around the craziness of Election Day to volunteer their assistance to worthy causes. [National Law Journal]
* Biglaw firms in NYC are still reeling after Hurricane Sandy. While WilmerHale set up temporary offices last week, both SullCrom and Fried Frank could be out of commission for weeks. [Reuters; New York Times]
* At this point, in-house counsel are kind of like the McKayla Maroneys of the legal profession, because they are seriously unimpressed with outside counsel’s efforts to improve services and fees. [Corporate Counsel]
* Judge Theodore Jones, associate judge of the New York Court of Appeals, RIP. [New York Law Journal]
A prominent M&A lawyer leaves his law firm not for an investment bank — he’s already done that before — but for something very different. Where’s he going?
What is it like to work at a successful and growing plaintiffs’ firm? We take a detour from Biglaw to check out Seeger Weiss….
Here’s a Fried Frank bonus for you: Matthew Kluger, the former Fried Frank associate who sued the firm for alleged discrimination, is going to prison. As you may recall, Kluger — who also worked as an associate at other top law firms, including Cravath, Skadden, and Wilson Sonsini — was charged in a massive insider […]
ATL Academy For Private Practice Volume 1 – Getting Started offers a mix of deeply informed, sometimes contrarian, but always thoughtful insight into meeting the challenges of starting and optimizing your own practice. Click here to download.
Today we head into the nation’s capital to bring you six of the best partners to work for as chosen by our readers. These partners go above and beyond the call of duty, and do so while working at some of the finest law firms: Akin Gump, SNR Denton, Hogan Lovells, Sutherland Asbill & Brennan, […]
We have been tracking which leading law firms offer the perk we’ve nicknamed the gay gross-up. If you’re inclined towards formality, you can call it the “tax offset for domestic partner health benefits.” For an explanation of what this perk is all about, read this prior post. Since our last round-up, additional prominent law firms have adopted this policy. Let’s check out the latest list….
Spring bonus news seemed to slow down last week. But New York firms are still having their feet held to fire of spring payments. On Friday afternoon, Fried Frank announced that it would be joining the spring bonus parade. Fried Frank will be matching the Cravath scale for spring bonuses. I hate to bring this […]
* Modesty reared its ugly head after Jersey Shore’s JWoWW discovered that she might not be able to cash in on her naked photos. [New York Law Journal] * Which is Mayor Bloomberg more pissed about — that some more ice melt could’ve saved a life, or that it could’ve saved $20 million? [Wall Street […]
* Thanks Senate, but gay servicemembers now get to play another waiting game. How long will the certification process take? Don’t ask, because the administration isn’t going to tell. [New York Times; Wall Street Journal; Washington Post] * Filibusted: with the DREAM Act’s failure, undocumented college graduates can’t get jobs. As a member of the […]
On Friday, the firm of Fried Frank announced associate bonuses. This year’s announcement was just like last year’s, i.e., something of a black box. The firm memo, reprinted below, states that FFHSJ will be paying “year-end bonuses to New York associates in varying amounts up to $40,000″ — but doesn’t say much more than that. […]
And just like that, it’s December. Flurries fill the sky, Wham’s “Last Christmas” saturates the airwaves, and the list of weddings in the New York Times shortens dramatically. Quality tends to decline along with quantity, but we’ve been pleasantly surprised to find plenty of comment-worthy nuptials (and attractive brides!) over the past couple of weeks. […]
We’ve gotten away from plowing through the latest Vault Rankings, but fear not. Your firm is coming up soon. We’ve been through the top 30 firms. But now we’re getting into a group of firms that really utilized the cost-cutting measures of salary cuts and layoffs to weather the recession of 2009. Did these guys […]