Mergers and Acquisitions

* Even at the top of the in-house food chain, women lawyers are still paid less than their male counterparts. But hey, at least they’re not being forced to cry poverty like their in-house staff attorney brethren. [Corporate Counsel]

* Neil Barofsky, the former King of TARP in the United States, is making the move to Jenner & Block, specifically because as opposed to all other firms, “Jenner took the side of really getting to the truth of the matter.” [Reuters]

* Luxury fashion is fun: four Biglaw firms, including Cleary Gottlieb, Cravath, Torys, and Proskauer Rose, all took Tim Gunn’s mantra to heart to make it work for the $6 billion sale of Neiman Marcus. [Am Law Daily (sub. req.)]

* If you want to try some lawyer, we hear that they taste great when poached this time of year. Speaking of which, Troutman Sanders just reeled in three attorneys from Hunton & Williams. [Richmond BizSense]

* Law schools in the Dakotas are renovating their buildings in the hope of enrolling more students. Luckily, South Dakota has that sweet indentured servitude plan. [Prairie Business; National Law Journal (sub. req.)]

* If you’re thinking of applying to law school, here’s a plan of attack for the month of September. That’s right, friends, you can start gunning right now! [Law Admissions Lowdown / U.S. News & World Report]

* Are you ready for some tax law?! The NFL and other professional sports leagues might lose their nonprofit status if new tax reform legislation makes it through the House and the Senate. [Businessweek]

The third year of law school?

* Biglaw’s billing bonanza: at least 12 firms are advising on the multi-billion dollar deals going on between Microsoft / Nokia and Verizon / Vodafone, and Simpson Thacher landed a seat on both. [Am Law Daily (sub. req.)]

* Standard & Poor’s is now accusing the Department of Justice of filing its $5 billion fraud lawsuit in retaliation for downgrading the country’s credit rating. Aww, we liked the “mere puffery” defense much better. [Reuters]

* The new ABA prez doesn’t think Obama meant what he said about two-year law degrees. He thinks it’s about cost. Gee, the ABA should probably do something about that. [National Law Journal (sub. req.)]

* Meanwhile, New York Law School wants to condense its offerings into a two-year honors program that comes complete with a $50,000 scholarship. Sweet deal if you can get it, but it sounds like most people won’t. [Crain's New York Business]

* Stewart Schwab, the dean of Cornell Law School, will be stepping down at the end of the academic year. The search for someone new to oversee the filming of amateur porn in the library is on. [Cornell Daily Sun]

* Crisis? What crisis? Nothing is f**ked here, dude. Amid plummeting applications, GW Law increased the size of its entering class by about 22 percent. The more lawyers, the better, right? /sarcasm [GW Hatchet]

* Jacked up! Attorneys for NFL player Aaron Hernandez got a stay in the civil suit accusing the athlete of shooting a man in the face until after the athlete’s murder charges have been worked out. [USA Today]

* President Obama says he’s not changing his mind on the legality of marijuana “at this time.” I guess we need Biden to go on Face the Nation this time around to get some movement on the drug war. [Volokh Conspiracy]

* California lawmakers are looking to retool its “revenge porn” — the act of posting embarrassing sex pics/videos of a significant other who screwed you over — bill. Now California won’t be able to post all those amateur vids of the organizers behind Prop 13. [WSJ Law Blog (sub. req.)]

* New York just boasted the largest seizure of illegal guns in NYC history because a rapper used Instagram to show the world a whole mess of illegal guns. Sometimes you have to avoid that “pics or it didn’t happen” tweet. [ABA Journal]

* Michael Jackson’s estate is battling the IRS. The article coyly suggests that the estate has told the IRS to “Beat It.” What they don’t understand is the IRS, as a general rule “Don’t Stop ‘Til [They] Get Enough.” [TaxProf Blog]

* Inspired by our recent post on the 15 Reasons to Date a Lawyer, Going Concern has found eHarmony’s “15 Reasons to Date an Accountant” and given it a similar beatdown. [Going Concern]

* Congratulations to the M&A Advisor’s “40 Under 40″ award winners. Your families would be so proud if they remembered what you looked like. [The M&A Advisor]

* I was quoted in this week’s episode of This American Life. Host Ira Glass interviewed Sharon Snyder, the court clerk fired for helping free an innocent man. [This American Life]

* Bruce MacEwen explains the mid-year results for Biglaw as reported by Wells Fargo and Citi respectively. Video after the jump…

double red triangle arrows Continue reading “Non-Sequiturs: 08.23.13″

* The DOJ and a number of state attorneys general are suing to block the merger of American Airlines and US Airways. American and US Airways weren’t fazed because they expected lengthy delays. [Courthouse News Service]

* Following up on yesterday’s tale of divorcing law professors — which may as well have been Jarndyce v. Jarndyce — here’s a post collecting some other entertaining divorce battles. [Lowering the Bar]

* The Consumer Product Safety Commission is going after a CEO individually. Craig Zucker, the CEO of the company that makes the office toy BuckyBalls, has really gotten under the CPSC’s skin in resisting their efforts to get BuckyBalls off the market. First they came for the BuckyBalls and I said nothing, then they came for the drinking bird and there was no one left to speak for it. [Overlawyered]

* Here’s a look at law school applications for top schools charted over time. Spoiler alert: if these schools are playing a Ponzi scheme, they’re failing. [Associate's Mind]

* More Americans fled overseas to avoid taxes this year. If we make it so the traitorous ninnies can’t come back, this sounds awesome. [Wall Street Journal]

* Judicial Clerk Review asks how Shon Hopwood disclosed that whole “convicted bank robber” thing in his application. [Judicial Clerk Review]

* Professor Robert Anderson has a new bar passage calculator. Take it for a spin to figure out whether or you much you should be freaking out. [Witnesseth]

* Is this the worst job listing ever? Perhaps not. Definitely the most honest in being a bad job listing though. Check it out after the jump (click to enlarge), via the University of Houston Law Center…

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Once a ubiquitous legal industry accessory, the BlackBerry has fallen on hard times. A combination of competition, embarrassing failures, and former managers signaling a lack of confidence has left BlackBerry against the ropes. And building a signature product that forced the user to simulate a sex act didn’t help.

Now, the company is turning to a pair of trusted Biglaw firms to figure out its next move.

But even with superior counseling, has BlackBerry met its Waterloo?

double red triangle arrows Continue reading “Remember BlackBerry? Former Tech Giant Hires Biglaw Firms to Oversee Possible Sale”

* How often are you sitting around wondering about all the legal ins-and-outs of the assassination of James Garfield? Wonder no more. [The Legal Geeks]

* A love poem with citations to the U.C.C. You know, if you never plan on getting laid again. [Law Poetry]

* Justice Kagan dials 867-5309. [Slate]

* Underage models in New York are now covered by child labor laws. In related news, American Apparel stops making any ads whatsoever. [Fashionista]

* When a bank nixes your merger, just go ahead and do it another way and bury the bank’s opinion. There’s not much the SEC can do about it anyway. [Dealbreaker]

* Pepper Hamilton’s Nina Gussack is making it rain. [The Careerist]

* Eric Posner has no beef with the NSA. [Constitutional Daily]

* States: The New (Patent) Troll Slayers [Slate]

A fireable offense in the UK?

* Our thoughts and prayers go out to the people of Oklahoma. [CNN]

* The IRS and the Treasury Department better watch out, because it seems that the “next logical step” for the tea party victims of heightened scrutiny leads right up the courthouse stairs. [ABC News]

* #Whatshouldwecallme after advising on the $1.1 billion Yahoo/Tumblr deal? Kind of a big deal. The Biglaw firms doing the underlying legal work are Simpson Thatcher and Gunderson Dettmer. [Am Law Daily]

* The Mirena MDL judge thinks female attorneys should be on the all-male executive committee. If this is “strategic gender placement,” the strategy is to look bad publicly. [Thomson Reuters News & Insight]

* The Travers Smith trainee who was fired for getting pregnant is due in court this June to find out what type of compensation she’ll receive for being discriminated against by the firm. You go girl! [Daily Mail]

* Wherein the parents of a 0L who’s got doubts about her employment prospects are counseled that she can “work not just in law.” ::facepalm:: [Law Admissions Lowdown / U.S. News & World Report]

* There’s trouble in paradise: lawyers in the Jodi Arias case unsuccessfully attempted to get a mistrial and withdraw from representation — for the second time — during its punishment phase. [Fox News]

* With the capture of Boston bombing suspect Dzhokhar Tsarnaev, many legal questions are being asked, like if he’ll be Mirandized, where he’ll be tried, and if he’ll be considered an enemy combatant. [New York Times]

* Thanks for kicking this keg, Mr. Baer: the Department of Justice and Anheuser-Busch InBev have settled their antitrust differences with respect to beer brewery’s planned acquisition of Grupo Modelo. [Legal Times]

* Which firm has a “generous tuition reimbursement” program? And by “generous,” we mean 100% of law school tuition, which is awesome. We may have more on this later today. [Capital Business / Washington Post]

* Stan Chesley, the “master of disaster,” is retiring — not because he wants to, but because he’s disbarred in Kentucky and surrendered his Ohio license before the state could take it from him. [WSJ Law Blog (sub. req.)]

* California may soon follow in New York’s footsteps when it comes a pro bono mandate before bar admission, but the New Jersey Bar Association has an active hit out on the idea. [National Law Journal]

* In an effort to avoid a trial that would’ve lasted longer than their sham marriage did in the first place, fauxlebrity Kim Kardashian and NBA player Kris Humphries settled their divorce last week. [Reuters]

* Morris Kramer, an M&A pioneer and part of Skadden’s “Fab Four,” RIP. [DealBook / New York Times]

I asked, and once again the readership delivered. I thought it would be interesting to hear from former Biglaw associates who had been passed over for partnership, and I was happy to receive some thoughtful responses.

As you will see below, and as I discussed in my columns relating to making partner, there are very powerful personal forces at work in these situations. As much as we can learn from our own disappointments, so can we learn from the experiences of others, especially those who have forged ahead despite a setback.

Biglaw can be a brutal business. We need to pause and reflect on the human toll that working in this environment can take….

double red triangle arrows Continue reading “Buying In: Passed Over for Partner (Interview No. 1)”

* Oh mon dieu, Justice Breyer was inducted as one of just 12 foreign members of France’s Académie des Sciences Morales et Politiques. C’est très chouette pour un Américain, non? [New York Times]

* Man, for a four-seeded firm that got knocked out of our March Madness competition after the Sweet Sixteen, Davis Polk is looking great in 2013′s first quarter as far as legal advising in M&A deals goes. [Am Law Daily]

* Brown Rudnick picked up a California boutique, and it’ll be doubled in size through lateral hiring. No layoffs are currently expected, but no one really advertises that as a merger selling point. [National Law Journal]

* The New York Times: bringing you last month’s news, today! South Dakota is offering a subsidy for law school tuition to keep lawyers in the state. Here’s our post from two weeks ago. [New York Times]

* Pace Law School’s “low bono” residency program was praised by New York’s Chief Judge Jonathan Lippman, but if you’ve got other job offers, Dear Lord, take one of them. [New York Law Journal]

* AIG wants to prevent Hank Greenberg from suing in its name, probably because it’d prefer not to be known as “the poster company for corporate ingratitude and chutzpah.” [DealBook / New York Times]

* “[D]o I cover this really important story and maybe go to jail?” That’s the choice Jana Winter is facing after reporting on James Holmes’s massacre notebook and refusing to reveal her sources. [CNN]

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