On our recent post about bonuses at Bingham McCutchen, some commenters complained about our coverage of the firm. Here’s what one said: “What this article fails to mention is that NO ONE made their hours, it’s THAT slow. Good job, ATL, for eating whatever it is Bingham pays you to NOT report [on bad goings-on at the firm].”
Actually, we’re perfectly willing to report on negative developments at Bingham (or any other major law firm). Just email us or text us (646-820-8477), and we’ll investigate.
There’s certainly a lot to cover over at Bingham: tumbling profits, partner departures, and unfortunately timed staff layoffs. We’ve collected some reporting from around the web, which we’ve combined with inside information from ATL tipsters at the firm. Let’s have a look, shall we?
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Michael Allen is Managing Principal at Lateral Link, focusing exclusively on partner placements with Am Law 200 clients.
Home to 80 degree Januaries, the lateral market has been equally hot in L.A. to start the year. The first six weeks of the year showed unmistakable improvement over last year and even bested 2012. The national lateral market is up 43% while the Los Angeles market is up 126% from 2013. Lateral Link alone is currently working with over 200 partners with aggregated practices north of $250,000,000.
The strong Los Angeles trend is highlighted by the recent move of John Shaffer into Quinn Emanuel’s bankruptcy practice. Shaffer, one of the nation’s preeminent restructuring lawyers, should bolster an already stacked Quinn Emmanuel office. Winston also just picked up two prominent partners, Eva Davis from Kirkland and Dan Passage from Bingham. Last, but not least, John Gatti left Stroock for Manatt. I predict a dozen or more significant moves over the next few months in Los Angeles alone….
With Christmas and New Year’s Day falling on Wednesdays in 2013, it felt like the holiday season lasted forever. Not that we’re complaining — we enjoyed two weeks of relative quiet, and we suspect many of you did as well — but now it’s back to work, as we kick off the first full week of the new year.
One story that kept people engaged over the holiday lull was our fifth annual holiday card contest. Voter participation ran high, with more than 7,688 votes cast for the eight worthy finalists.
Which law firm’s card prevailed? Here’s a hint: it’s the most interesting Biglaw holiday card in the world….
Thank you to everyone who submitted nominations for our fifth annual holiday card contest. In terms of quantity, we received a great many submissions. And (almost) all of you complied with the contest rules, so thanks for that as well.
Quantity was strong, but in terms of quality… well, at the risk of sounding Grinch-like, this wasn’t the strongest batch we’ve seen over the years. We received a lot of cards that were tasteful and well-executed but boring. While it’s not surprising that many firms take a “do no harm” approach to holiday cards, it doesn’t make for the most exciting contest.
That said, there were still a few stalks of wheat mixed in with the chaff. Here are the eight fabulous finalists, for you to review and vote upon….
The eight finalists in this year’s law firm holiday card contest were very well-received by our readers. In fact, more than a thousand votes were cast, and many firms took to Twitter and intra-office message boards in an attempt to rally last minute votes.
(FYI: We continue to receive submissions for this contest, despite the fact that the entry deadline was December 17, 2012. Please check back in with us next year; we’ve had enough holiday cheer.)
Some of these cards were clever, some were beautiful, and some were funny. All of them were excellent, deserving of recognition and praise for the thoughtfulness and creativity that went into them.
But in the end, there can only be one winner. Which firm was lucky enough to take home this year’s title?
The field of contenders in our fourth annual law firm holiday card contest was quite impressive. We received numerous nominations, and we thank everyone who participated. It took many hours to review the plethora of submissions.
Like last year, apparently reading comprehension isn’t a skill that many lawyers possess, as a few of you declined to follow rule #3 of our contest, limiting the entries to “cards that are unusually clever, funny, or cool…. cards with some attitude, with that extra je ne sais quoi.” But because it’s the holiday season, we won’t rag on you too much. Even if you can’t follow simple instructions, you’re still great.
But some of you were greater than others. Let’s look at this year’s finalists….
When I was a kid, I dreamed of becoming president. When I got older and realized becoming president would require a ridiculous amount of work on my part, I settled on the only dream worth a damn in this country: I want to win the lottery. And not some rinkydink $1 or $2 million jackpot, either. I want to win a bunch of money. I’m an adult American and I daydream about winning the Powerball at least three times a week.
And I suspect that this does not distinguish me from many of my peers in the legal community. I don’t have hard stats on this, but anecdotal evidence gleaned from conversations with several of my friends who hate being lawyers suggests that ninety-seven percent of recent law school graduates want nothing more than to win the lottery and tell the miserable senior associate who made them work last weekend to get bent.
Theodore Scott knows what I’m talking about. He’s an attorney who spent 22 years getting beat down by the legal profession and thought he had found a way out….
Major law firms like to tout their dedication to furthering women’s success in the law, but if you look more closely, you’ll find that many Biglaw firm talk a big game, but have little proof back up their words. Take, for example, the fact that according to a recent survey conducted by the National Law Journal, the percentage of women lawyers in partnership positions has increased only 2.8 percent since 2003. In the meantime, the National Association of Women Lawyers says that the percentage of women in equity partnership positions has been “fixed” at just 15 percent for the past 20 years.
Well, whoop-dee-doo at all of these wonderful statistics that we’ve been choking down for the past decade. Women are apparently supposed to be happy about this kind of painfully slow progress. But what about the firms that have actually honored their commitments to women lawyers?
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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: