If you’re a former Supreme Court clerk, the legal world is your oyster. In the words of one observer, “Supreme Court clerkships have become the Willy Wonka golden tickets of the legal profession. So many top-shelf opportunities within the law, such as tenure-track professorships and jobs in the SG’s office, [are] reserved for members of the Elect.”
If you work at a hedge fund, maybe after a stint at Goldman Sachs or a similarly elite investment bank, you’re the Wall Street version of a SCOTUS clerk — at the top of the field, but with way more money. There aren’t many Lawyerly Lairs out there that cost $60 million (the cost of hedge fund magnate Steve Cohen’s new Hamptons house).
What could lure four high-powered lawyers and hedge-fund types, including two former clerks to the all-powerful Justice Anthony Kennedy, to leave their current perches? How about the chance to earn the kind of money that would make a Supreme Court clerkship bonus look like a diner waitress’s tip?
I’ve finally plucked “big firm mediocre” out of my life.
First, I left Biglaw, so I’m no longer revising lifeless drafts that arrive either up through the ranks or from co-counsel.
Then, my corporation entered fixed fee deals for virtually all of its litigation work. We invited only firms that do good work to compete for our business, and the winners have performed as expected: No brief arrives at our doorstep until it’s been reviewed by someone who can write.
But we still have a few strays: There are cases in oddball jurisdictions or involving unusual specialties where we select counsel on an individualized basis. And we still have old cases lingering from before our fixed-fee days staffed by an assortment of counsel. Once in a long while, I still run into briefs written in the “big firm mediocre” style.
What’s funny is how consistent it is. Although the briefs address different subjects in different jurisdictions, and they’re written by different people, “big firm mediocre” constitutes its own distinct literary genre. Care to write in that genre (or assess whether you already do)? Here are the characteristics:
Unlike the latest Harmony Korine movie, filled with neon bikinis, former Disney princesses. and James Franco in bad dreads, my Spring Break consists of hanging with my kids while my wife works 24/7 on a grant application. We don’t make annual pilgrimages to Turks and Caicos; we make bi-weekly trips to Wegmans. But you know what? I signed on for this, and no amount of island sand can replace the sound of my younger boy reading a bedtime story to his little sister for the first time last night.
I read with interest the compensation package for the anonymous in-houser that Lat posted yesterday. In the comments, I pointed out that the package wasn’t outrageous or impossible, just that it was (way) outside of the norm. And that is okay. I chose this life and I am happy to say that it has been a soft landing for me. I have a good job, in a real estate market that is hard to beat — anywhere.
Lat is correct that Susan, Mark and I need to be circumspect about compensation; it would not do for our employers to see a pay scale pasted on these pages. So what can I say about my comp?
Now in its eleventy-billionth season, The Bachelorette is one of my guiltiest of pleasures, if only because it’s so ridiculous. If for some reason you haven’t seen the show, here’s the plot: 25 guys get together to show off their machismo and vie for the heart of one of the rejects from The Bachelor in an epic battle to get a taste of those sweet sloppy seconds on national television. In an ideal world, the show’s subtitle would be something like “Because We’re Sick of the Women on Match.com and Their MySpace Angles.”
Anyway, this show usually attempts to pair successful gentleman callers with your average girl-next-door types (and yes, these days, girls next door quit their jobs and move back in with their parents specifically so they can be on a reality TV dating show). Ever since the show featured a more respectable female suitor (read: a dental student) in 2011, ABC’s been upping the ante with respect to the qualifications of the mostly all-white male contestants.
The show hasn’t even aired yet, but we’ve got an inside tip on one of the men who will appear on this season’s trainwreck. One of them is a federal prosecutor, and he’s a major, major stud.
In Old School, when Mitch, Frank, and Beanie tied string to cinderblocks and their prospective members’ members before throwing the blocks off the roof, their fraternity gravely injured a pledge. While Weensie ended up just fine in the film, fraternities across the country cause injuries and even deaths with some frequency.
If someone is negligently or intentionally injured by a multi-million dollar organization, one would expect to see a lawsuit followed by a quiet, insurance-funded settlement.
Take this famous line and replace “man” with “law firm partner,” and you’ve captured the gist of the lawsuit against Ropes & Gray brought by Patricia Martone, who alleges age and sex discrimination by her former firm. (Martone, a former IP litigation partner at Ropes, is now a Morrison & Foerster partner.)
When I broke the news of this lawsuit back in 2011, I expected a speedy settlement. Would Ropes really want to go toe to toe with a pair of high-powered litigatrices, namely, Martone and her formidable employment lawyer, Anne Vladeck?
But here we are, two years later, and the battle rages on. Ropes has hired a third leading litigatrix to defend itself. Let’s learn the latest news….
(Note the multiple UPDATES at the end of this post.)
Ted Olson and David Boies: adversaries, then allies, then adversaries again.
After covering the Dewey & LeBoeuf bankruptcy hearing on Wednesday morning, I walked a few blocks uptown to the Second Circuit for another exciting event: oral argument in the closely watched Argentina bondholder litigation. It was a Biglaw battle royal, pitting Ted Olson, the former solicitor general and current Gibson Dunn partner, against a tag team of top lawyers that included David Boies, Olson’s adversary in Bush v. Gore (and ally in Hollingsworth v. Perry).
Here’s my account of the proceedings, including photos….
I was working on an agreement yesterday with a contract specialist. Many companies have contract “specialists,” especially in the procurement area, who vet language and negotiate with vendors or buyers up to and until the point where legal assistance becomes necessary.
The problem with this model is that as these specialists, especially in procurement, become proficient in their positions, they can fall into the trap of thinking they are lawyers….
Ten years ago, I co-authored a book that analyzed in all 50 states the existing analogues to the federal multidistrict litigation process. (Some states have analogues; some do not; some have procedures that serve the same purpose through very different mechanisms.)
Don’t scoff! That book served a public purpose, because the information was not then available anywhere else. And it served a business development purpose: If you work at a large firm, you don’t want to defend one-off product liability cases, because the fees won’t bear the big-firm freight. But you do want to defend those silly products cases the instant they transmogrify into mass torts. What’s the point at which the client knows that it is confronting a truly big and bad mass tort? When it’s defending not only a federal MDL, but statewide coordinated proceedings, too. Presto! Time to retain yours truly, the expert in that untrodden field!
Having written the book, my co-authors and I naturally publicized it. We published articles summarizing the substance of the book; explaining how to draft mini-MDL statutes; and, for publication in specific state bar journals, analyses of the mini-MDL processes available in certain populous states. Although I can’t find an online link to the piece, we wrote in a Ohio bar journal that Ohio was the most populous state not to have a formal procedure for coordinating related lawsuits filed in many counties.
Naturally, this triggered some thought in the Ohio bench and bar about whether the state should catch up with the rest of the world. In 2004, more or less, some judicial committee called to solicit my help (and that of my co-authors) in creating a mini-MDL procedure in Ohio.
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.