It took a little longer than most of you expected, but Cravath, Swaine & Moore just announced its 2011 associate bonuses (not long after announcing its new partners). Barring something very unforeseen, these bonuses are what many Biglaw firms, in New York and across the land, will pay out this year to their people. Historically Cravath has set the market with respect to year-end associate bonuses at major law firms.
The Cravath bonuses are what you might expect. They are in line with recent years, nothing crazy high or ridiculously low. Both Occupy Wall Street types and law firm associates can put away the pitchforks.
Let’s take a look at the official memorandum, and engage in some analysis….
Last month, there was some controversy out in California about public nudity. In San Francisco, it’s totally legal to prance around naked all day long, but local nudists were upset when they found out they might soon be forced to put down a towel before sitting buck-ass-naked on public seats.
Now a similar controversy has traveled to New York — not over increased restrictions on nudity, but whether there can be public nudity at all. Holly Van Voast, a 45-year-old activist for the cause, has had her fair share to say about it. And by “say,” I of course mean “show.”
Van Voast has grinned and bared it all — in Times Square, on the Staten Island Ferry, and most recently, in the middle of Grand Central Station. One of these public displays of middle-aged nudity landed her in Midtown Community Court yesterday, where the naked truth was revealed….
WARNING: A photo of a topless Van Voast — tastefully redacted, of course — appears after the jump. If you can’t handle it, or if you’re not in a place where you can view a (tastefully redacted) photo of a topless woman, please stop reading here.
In the wake of the east coast earthquake of 2011, the legal world seems to be back to its regularly scheduled programming. Courts are back in session, law firms have reopened, and government agencies are fully functioning. While some got a welcome day off yesterday, others only received a temporary respite from work.
Thankfully, the damage to the capital region seems to have been limited. At first it was reported that we may have had a Leaning Tower of D.C., but it turns out that the Washington Monument is just cracked. In other monument news, the Lincoln and Jefferson memorials are closed for further inspection, and the National Cathedral has sustained “mind-boggling” damage.
We received a lot of tips from our readers about their earthquake experiences, but more importantly, we have the final results from our reader poll. We now know who we can blame for moving the earth and disrupting our day. And no, it wasn’t Obama’s Fault.
A lot of my closest friends are male. It’s probably because we share the same sense of humor about most things. But sometimes broish pranks cross the line from being funny to freakin’ disgusting at warp speed. Guys, here’s a little tip: anything outside of the bedroom that has to do with giving a girl a protein slurpee usually crosses that line.
Earlier this week, we brought you a story about a sushi roll with “special sauce” that was allegedly served up in New York. Now we learn that a California man who laced a lady’s drink with his load has been ordered to pay for it.
Why did this mediocre mixologist decide to shake up his co-worker’s drink with a shot of his DNA? And how much did the court award to his victim?
I will always remember the first time I ate sushi. I was pretty grossed out at the idea of eating raw fish (that’s what she said), but my friends told me that I had to try it because it was “oh my God, sooooo good.” I then learned that I should always take my friends’ advice when it comes to trying new food, because I was hooked.
It might have taken me a while to master the art of using chopsticks, but I love sushi. I’d actually go so far as to say I’m obsessed with it.
But when I hear that people are getting “special sauce” with their sushi rolls, it makes me happy I learned how to make sushi myself this year….
'These MBE questions are way easier than the practice ones!'
We thought we had a winner for most gutsy bar exam performance of July 2011. On Thursday, a woman taking the New Jersey bar exam passed out during the test — then picked herself up off the floor, and went right back to typing.
That’s impressive — but we may have spoken too soon. Here’s a labor-intensive story that tops it.
“A friend of mine went into labor while taking the Illinois bar exam,” a tipster told us. “She calmly finished, went to the hospital, and had her baby an hour or two later. Girl’s a real trooper.”
“A certain Northwestern Law alumna went into labor during the second day of the Illinois bar,” said a second source. “She finished the exam and had her baby, her first, at 5:58 p.m. I think that is worth noting.”
You better believe it’s worth noting. If ever there was a baby immaculately conceived by a lawgiver, this might be the one.
We have all the details — including a picture of the Bar Exam Baby, whom we’ll nickname “Baby Bar”….
Today Chief Judge Vaughn Walker (N.D. Cal.) issued his ruling in Perry v. Schwarzenegger, the constitutional challenge to Proposition 8, California’s ban on gay marriage. The case was famously brought by Ted Olson and David Boies, two of the nation’s top lawyers (who previously faced off in Bush v. Gore, on opposite sides of the case). We first learned of the news at 4:35 PM today (via Chris Rovzar of New York magazine).
In his 136-page ruling, Chief Judge Walker — a Bush I appointee to the federal bench who is generally viewed as a moderate, not some crazy San Francisco liberal — ruled that Prop 8 is “unconstitutional under both the due process and equal protection clauses.” Accordingly, he “order[ed] entry of judgment permanently enjoining its enforcement.”
A permanent injunction? Expect Prop 8 proponents to turn to a higher court in 3, 2, 1…. But is the famously left-leaning Ninth Circuit going to be much help?
For excerpts from the opinion and more links, see below….
UPDATE: This post has been revised extensively since it was first published.
Note especially the update near the end of this post regarding Judge Walker’s STAYING THE ENTRY OF JUDGMENT.
Class of 2008 — $7,500
Class of 2007 — $10,000
Class of 2006 — $15,000
Class of 2005 — $20,000
Class of 2004 — $25,000
Class of 2003 — $30,000
Class of 2002 — $30,000
Cravath’s bonus announcement is always important because the market tends to follow Cravath — as it did last year. Skadden’s 2008 bonuses, at roughly twice Cravath’s levels, were ignored.
Could this year be different? Are the Cravath bonus levels low enough such that a firm of similar or even lower prestige will try to better CSM? Or will other Biglaw shops simply avail themselves of the political cover provided by Cravath — which is arguably what happened last year, when Skadden’s generous bonuses went unmatched (excluding Wachtell)?
So, readers, what do you think? Read the FULL MEMO, take a READER POLL, and COMMENT — after the jump.
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
Panchal Associates LLP–a corporate/finance and outside general counsel boutique–was quickly off to a great start. Clients and matters were flying in the door, and Chintan soon had a team of lawyers and staff with a variety of operational needs. To continue building an excellent team and provide them with a competitive benefits package, to expand his physical presence to include a European practice and additional partners, and to scale his operations and IT capabilities to support this growing enterprise brought with it demands of time, money, and expertise. Chintan knew he needed help.
“With the assistance of NexFirm, we have upgraded the capabilities of our firm to meet, and in some cases exceed, the standards we were used to at our former BigLaw firms. Operationally, we can now attract and service clients we didn’t have the bandwidth to support in the past, and continue to build our team with the best and brightest legal talent in the industry,” said Chintan Panchal, adding “It has worked out quite well in our case; NexFirm is an essential partner for us.”
The holiday season is upon us, and yet again, you have no idea what to get for the fickle lawyer in your life. We’re here to help. Even if your bonus check hasn’t arrived yet, any one of the gifts we’ve highlighted here could be a worthy substitute until your employer decides to make it rain.
We’ve got an eclectic selection for you to choose from, so settle in by that stack of documents yet to be reviewed and dig in…
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