Sometimes, the internet seems to exist largely in order to rate things. User-generated and unverified reviews of everything from movies to cars abound. The thing with this proliferation of ratings, be they on Yelp, or Amazon, or whatever, is that we usually don’t have any idea whether or not the reviewer has any basis for his rating. (In fact, the spoof product review has become its own literary micro-genre.)
Spurious or baseless ratings are not a problem when it comes to ATL’s Insider Survey (17,300 responses and counting — thanks everyone!), in which practicing attorneys and current students evaluate their own schools or employers. Among other things, our survey asks attorneys to nominate firms with over- and underrated practices within the respondent’s own practice specialty. Litigators nominate litigation departments, etc.
Which firms do those in-the-know consider to be better (or weaker) than their reputations?
* As you may have heard, Apple is buying Beats Electronics for $3 billion. Apple is being represented by Weil, but don’t worry, no one forgot about Dre — he’s got Munger Tolles and Skadden Arps on his side. [Am Law Daily]
* Haynes and Boone will have a new managing partner as of January 1, 2015, and to make sure he fulfills the good old Texas stereotype of things being bigger, he wants to grow the hell out of the firm’s Houston office. [Dallas Business Journal]
* Stephanie Avakian, a WilmerHale partner in the New York office, was tapped by the Securities and Exchange Commission to become its deputy director of enforcement. Yay! [DealBook / New York Times]
* “We can’t turn law schools into graduate school for the study of law,” says a law prof who thinks legal education is straying from being professional education. Aww, write a paper about it. [Harvard Crimson]
* A Los Angeles couple has been accused in the hit-and-run death of Judge Dean Pregerson’s son. The judge isn’t “looking for blood,” but some jail time would probably help. [L.A. Now / Los Angeles Times]
This coming Friday, it is the inalienable right of all Americans to sleep off their hangovers, or riot at Walmart, or do anything at all rather than work for The Man. But Biglaw is a different country. As illustrated by Elie’s decision matrix, the “choice” of whether to work on this sacred day is, for the denizens of the law firm world, fraught with other pressures and expectations. We all know that Biglaw careers demand a Faustian bargain: in return for their fat paychecks (and bonuses?), lawyers are expected to work grueling, unpredictable hours. This time of year, that reality is brought into sharp relief: the “holiday season,” with those “family obligations” and so forth, is something that occurs elsewhere.
But law firm billable expectations are not homogeneous. There are significant differences across practice areas, seniority levels, and, of course, individual firms. So how do the various practices, employment statuses, and firms stack up?
Ed. note: This is the latest installment of The ATL Interrogatories, brought to you by Lateral Link. This recurring feature will give notable law firm partners an opportunity to share insights and experiences about the legal profession and careers in law, as well as about their firms and themselves.
Terry Conner serves as Haynes and Boone‘s Managing Partner and a member of its Board of Directors, and is an active member of numerous other committees within the firm. Terry has more than 30 years of experience practicing in the area of business transactions, including commercial loans, loan restructures and technology transactions. He has been an adjunct professor of commercial law at Southern Methodist University School of Law, a Director of the Texas Association of Bank Counsel, the co-editor of the Matthew Bender Commercial Loan Documentation Guide, the co-chair of the Southern Methodist University Law School Commercial Lending Institute, a lecturer on business law at The University of Texas at Dallas, and a member of the State of Texas Science and Technology Council appointed by then-Governor Bush.
1. What is the greatest challenge to the legal industry over the next 5 years?
Today, we turn toward Texas. Texas is beloved here at ATL as an apparently bottomless source of colorful legal news. The state is a frequent battleground for high profileconstitutional fights while also generating a steady stream of tabloid fodder, from “judges behaving badly” to “tragic homicidal mayhem.” (Of course, there’s also the running joke among the ATL commentariat that, for what a New York Biglaw associate pays for his cramped studio apartment, one can buy a 3,500-square-foot wife house in Texas.)
But of course this is a limited, distorted view of the legal industry in Texas. Texas is a huge, diverse state with a relatively strong economy and a unique legal culture. Biglaw firms thrive in all three major cities, both local outposts of national firms, or more significantly, Texas-bred firms such as Baker Botts and Vinson & Elkins. Our ATL Insider Survey (13,000+ responses and going strong, thanks), asks attorneys at firms to evaluate their employers in terms of compensation, hours, training, morale, and culture. After the jump, we’ll look at how firms in Texas stack up in these categories — and how they compare to the national averages…
This has been an exciting week at the Supreme Court. But nothing on First Street matched the drama of the Texas State Legislature last night in Austin.
If you watch only television news, you might have missed it.
Wendy Davis, a Democratic Texas state senator from Fort Worth, mounted a one-woman filibuster trying to stop Texas from passing restrictive abortion laws that would have effectively closed all but five of the abortion clinics in the state. Her fight was a lesson in small-scale democracy, arcane parliamentary laws, and standard GOP tactics to change those laws when they feel like they’re losing.
But most of all, it was a lesson in the power of the people…
It’s the most wonderful time of the year. The season of law firm holidayparties, for starters. And, better yet, bonuses. This year, Santa Cravath stuffed stockings with a goodly amount of cash.
But the parties and paychecks pale in comparison to what’s about to get underway: Above the Law’s fourth annual holiday card contest!
Last year, Haynes and Boone, a frequent finalist in the contest, took home top honors. Will they repeat in 2012, will a prior winner reemerge, or will a totally fresh face grab the Christmas card crown?
Read on — and read carefully, counselors — for the official contest rules….
Our coverage of lateral partner moves is admittedly somewhat idiosyncratic. To be honest, we tend to be most interested in lateral moves when we can be the ones to break the news, in advance of any official announcement.
(For moves where we aren’t first, we tend to be more discriminating and write up only the most major ones. So if you’d like us to cover some notable partners joining your firm, please email us well before you send out your press release, and give us the scoop.)
Today we bring you news of partner moves from the Lone Star State. Some seven partners are leaving the Dallas office of Haynes and Boone. Who are they, and where are they going?
Even though the job market for new lawyers is still stagnant and depressing, going to and graduating from law school, especially a highly-ranked law school, is still looked upon by friends and family as a huge accomplishment. It’s something to be proud of, something to brag about.
After all, law school graduates have completed three to four years of relatively difficult work, and most take a state bar examination — neither of which is viewed as a simple feat by the general public. Factor into this equation being a middle-aged working mother, and these achievements seem even greater.
Imagine what would happen if someone claimed that she had finished all of this rigorous legal training, when in fact, she never had. It’s all pomp and circumstance until someone discovers that you’ve allegedly been lying through your teeth for years.
That is exactly what happened in Texas recently, and now campus officials are investigating a woman who claims that she attended a law school that was, until recently, a top 50 law school in the U.S. News rankings….
Our law firm holiday card contest is still underway, but we’re in the home stretch. Voting closes tomorrow, January 9, at 11:59 p.m. (Eastern time). If you haven’t done so already, review the finalists and vote over here.
In the our earlier post, we promised a post in which we’d (1) give shout-outs to some holiday cards that were strong but narrowly missed our cut and (2) poke fun at some of the Christmas cards we found especially disappointing. Here is the promised post.
Let’s look at some of these honorable and dishonorable mentions. Perhaps your law firm’s card is among them?
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: