An ethics scandal is one thing. A sex scandal is another. The combination is amazing. That’s what happened when a lawyer was accused of billing a client $900 for a number of sexual encounters after starting up an affair with her. A guy’s gotta get paid.
This was the story of Thomas Lowe, a Minnesota attorney who got his Arnie Becker on by hooking up with a woman he was representing in a divorce and billing her, resulting in his indefinite suspension.
All this went down last year, but now — out of nowhere — we have a response from Thomas Lowe….
It has been a while since I took the S.A.T, but here goes. Nancy Grace: Casey Anthony Verdict; Valerie Katz: ________.
A. Ramona Singer Pinot Grigio;
B. Biglaw Spring Bonuses;
C. Closed Compensation Model in Small Firms;
D. All of the above;
E. None of the above.
Correct Answer: C. I, like Ms. Grace about the Tot-Mom verdict, am full of rage about closed compensation models in small firms.
A “closed compensation” model is defined as one “where partners in a firm do not know how much the others earn. While partners generally have a sense of how compensation is determined, they will not be party to the outcome by which individual compensation is arrived at.” An “open compensation” model, by contrast, is “one where individual partner compensation is known by all partners of the firm.”
A recent study by the Institute for Women’s Policy Research found that almost half of all workers in the U.S. “are either contractually forbidden or strongly discouraged from discussing their pay with their colleagues.” And, 66.7% of the respondents to my salary survey reported that they did not know the compensation that other associates earn.
Why does this make me think “the devil is dancing?” Find out after the jump….
On Sunday night, I was sitting on my couch eating Chicken McNuggets®, when Lat Skyped™ me. The following is a faithful transcript of our conversation.
Lat: Hey Juggs, I’ve got an assignment for you. Wait, why aren’t you wearing a shirt? Me: Why are you wearing a top hat? L: Touché. Listen, I have an idea for a pretty delicious story. Did you read that article in the Times about Headline News’s coverage of the Casey Anthony trial? M: I only read Mad Magazine. L: Okay, well, listen. Is there any way you can put on a shirt? M: *mumbles angrily and stomps off camera to find a respectable shirt* L: Okay, cool. Listen, that post you did about Jose Baez got some deliciously high page views. This trial is apparently through-the-roof popular and I think I know what you can do to cover it. M: Go on. L: I want you to… wait for it… spend a day watching Headline News. You watch the coverage, scribble down some thoughts and… presto! We’ve got ourselves a delicious post. M: Do I have to wear a shirt? L: Jesus, what the f**k is it with you and shirts? No. God, I don’t care. Wear whatever you want. Just watch TV and write down your thoughts. You think you can do that? M: Sure. I’ll be like Marlow, exploring the Heart of Darkness. L: That’s another thing. Your random literary references. They barely make sense and I’m pretty sure you haven’t read any books. M: Your top hat’s stupid. L: Okay, just do this. Ciao. M: Seacrest out.
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: