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.
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 seven years. You can reach them by email: firstname.lastname@example.org.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!