* Dewey know how many professional firms have been allowed to stay on as advisers for the largest law firm bankruptcy in U.S. history? Six out of nine firms were permitted to continue services, but Proskauer wasn’t one of them. [Am Law Daily (sub. req.)]
* In other defunct firm news, Al Togut will be presenting Dewey & LeBoeuf’s former partners with a proposed settlement on Wednesday. You’ve been warned: prepare yourselves for some Biglaw-style bitching. [Thomson Reuters News & Insight]
* Despite reports of the billable hour going the way of the dodo bird, it looks like they’re here to stay. Right now, corporate law departments are still much more excited about alternative billing arrangements than law firms. [WSJ Law Blog]
* Judge Sam Sparks, the King of Benchslaps, dismissed Lance Armstrong’s lawsuit against the USADA in record time. That ruling came too quickly — guess it’s time to investigate judicial doping. [New York Times]
* Marc Dreier’s son, Spencer Dreier, is representing himself pro se in a defamation suit against his former college roommate. Looks like Daddy couldn’t spring for his kid’s lawyer while he was in the clink. [Bloomberg]
* A California woman claims that the Food and Drug Administration’s methods regarding sperm donations are unconstitutional. Why should she have to go to an intermediary to get sperminated? [Huffington Post]
* Do you smell what The Rock is cooking? It’s not exactly something to be proud of. Actor Dwayne Johnson is listed as a “co-conspirator” in a $1.8M fraud lawsuit that’s been filed by a South Florida family. [NBC Miami]
* When Dewey need to hire our own lawyers? Now would be good. As D&L leaders mull bankruptcy options, more than 50 former partners are expected to hire Mark Zauderer to defend them against potential clawback claims. [New York Law Journal]
* Day three of jury deliberations in the John Edwards campaign finance trial came and went without a verdict. The former presidential candidate must be wishing that he hadn’t came and went, because then there wouldn’t be a trial at all. [ABC News]
* Yet another law firm is walking away scot-free from the Dreier drama without losing a single dime. Ruskin Moscou Faltischek was able to get Fortress Investment Group’s case tossed on appeal. [Thomson Reuters News & Insight]
* A Facebook investor has sued NASDAQ, claiming that the stock exchange bungled the social networking site’s IPO. With FB’s stock price dropping as we speak, he’s seeking class-action status. Like. [Bloomberg]
* Nafissatou Diallo amended her civil suit against Dominique Strauss-Kahn to include a claim alleging his “animus towards women.” Really, she just wants to introduce evidence of DSK’s sordid sexual past. [Reuters]
* Wow. David Brock, head of the liberal watchdog group Media Matters, “paid a former domestic partner $850,000 after being threatened with damaging information involving the organization’s donors and the IRS,” according to allegations in a lawsuit. [Instapundit]
The lawsuit captioned Dreier LLP v. Judith Regan was filed back in March 2008, months before Ponzi schemer Marc Dreier’s eponymous law firm went bust. But it’s back in the headlines as of today, thanks to some juicy documents unearthed by the New York Times.
The documents in question — affidavits that were supposed to be kept under seal, but inadvertently kept in the public case file (until their recent removal) — implicate a number of famous figures. The boldface names include controversial publisher Judith Regan, Fox News chairman Roger Ailes, former New York City mayor (and presidential candidate) Rudy Giuliani, former New York City police commissioner (and current prison inmate) Bernard Kerik, and, of course, the now-defunct Dreier law firm….
The evolution of relationships between the genders continues. Currently, in law firms, there is an interesting conundrum; balancing the desire for a gender-blind workplace where “the best lawyer gets the work and advances” and the reality of navigating the complicated maze created by the fact that, in general, men and women do possess differences in their work styles. These variations impact who they work with, how they work, how they build professional connections and how organizations ultimately leverage, reward and recognize the talents of all.
Henry Ford sat on his workbench and sighed. A year earlier, he had personally built 13,000 Model Ts with his own hands. Fashioning lugnuts and tie rods by hand, Ford was loath to ask for help. Sure, there were things about the car that he didn’t quite understand. This explains the lack of reliable navigation systems in the Model T. But Ford persevered because he knew that unless he did everything, he could not reliably call these cars his own.
“Unless my own personal toil is responsible for it, it may as well be called a Hyundai,” Ford remarked at the time.
The preceding may sound unfamiliar because it is categorically untrue. And also monumentally stupid. Henry Ford didn’t build all those cars by hand. He had help and plenty of it. Almost exactly one hundred years ago, Henry Ford opened up the most technologically advanced assembly line the world had ever seen. Built on the premise that work can be chopped up into digestible pieces and completed by many men better than one, the line ushered in an age of unparalleled productivity.
Today, an attorney refers business because he can’t do everything the client asks of him.
There are three reasons why this is way dumber than a made-up Henry Ford story…
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, 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.