Milbank Tweed

Alexis Wright

* “Hindsight is always 20/20.” Perhaps AG Eric Holder should’ve quit when he was ahead after President Obama’s first term, because now White House insiders are wishing he’d step down. [New York Times]

* Dewey think Steven Davis will ever live down claims that he brought about the death of a once legendary law firm? No, but at least his $19.5 million mismanagement settlement was approved. [Am Law Daily]

* “What’s disgusting? Union busting? Who’s disgusting? Joe Genova.” Damn. This partner had some issues with Legal Services NYC lawyers on strike outside his office last week. [New York Law Journal]

* With all of the talk about patent trolls, this Morgan Lewis attorney allegedly thought it would be a good idea to get a piece of the action. Oopsie, it sounds like you got some splainin’ to do. [Ars Technica]

* LEAVE THOMAS JEFFERSON SCHOOL OF LAW ALONE! TJSL alumni appreciate their alma mater so much they’re willing to sign love letters written by the school’s PR flack. [WSJ Law Blog (sub. req.)]

* Widener Law is thinking of splitting its campuses into separately accredited schools, but this isn’t a cost-saving measure — neither were the buyout packages offered to professors. [Delaware Law Weekly]

* Alexis Wright, the Zumba instructor who ran a prostitution ring out of her dance studio, will ditch the workout and join the party in jail, because this hot mama was just sentenced to 10 months. [CNN]

As we mentioned in Morning Docket, the American Lawyer recently released its highly influential, closely watched Am Law 100 law firm rankings. They say that “slow and steady wins the race,” and with regard to economic recovery, Biglaw firms seem to have taken that up as their new motto.

Yes, partners are still living as large as they ever were, but their success now comes in the form of single-digit returns with regard to key financial metrics. The divide between the “haves and the have-nots” in the world of major law firms has grown to epic proportions, and some Am Law 100 staples have fallen out of the top hundred firms altogether. Welcome to the new normal.

Are you ready to get excited about “modest” and “spotty” gains across the board? Let’s dig in….

double red triangle arrows Continue reading “The 2013 Am Law 100: A Year of ‘Slow Growth’”

Well, the tournament has been a “shocker,” right? I know folks from Wichita State and they are psyched to flash inappropriate gestures on national TV for another round.

Sadly, Oregon got bounced out of the Sweet Sixteen, which made me a little sad, though not as sad as my whole bracket getting bounced when Indiana lost by double digits. I’d finally put my faith in the Big Ten and they repaid me with that?!?

In any event, the ATL bracket finally got some action too, with a couple of upsets. Including my beloved Cleary…

double red triangle arrows Continue reading “ATL March Madness: The Law Firm With the Brightest Future — Round Three”

Last week my NCAA bracket soared to the lead in our office bracket pool. And then crashed to reality when my New Mexico Final Four pick got cut down by Harvard. It was a bitter pill to swallow when I have to talk to Harvard grads daily.

At least the Ducks are still in the tournament.

Meanwhile, the ATL March Madness bracket rolls into the Sweet Sixteen. At least so far, you all love the chalk….

double red triangle arrows Continue reading “ATL March Madness: The Law Firm With the Brightest Future — Round 2″

* If you’re looking for an easy résumé line, then consider joining the Supreme Court bar, an elite organization that doesn’t check to see if its members are still alive. All you need is three years of practice, two signatures, and $200. [Associated Press]

* Stanley Chesley, the master of disaster himself, was disbarred for his “shocking and reprehensible” conduct in a fen-phen case. His wife, U.S. District Court Judge Susan Dlott of the Southern District of Ohio, must be oh so pleased. [Courier-Journal]

* Howrey like dem apples now? Some of Howrey’s former partners, including ex-chairman Robert Ryuak, all lined up to make deals to delay lawsuits from the firm’s bankruptcy trustee, Allan Diamond. [WSJ Law Blog (sub. req.)]

* This Biglaw firm’s future was just a little bit dimmer in 2012, with a 4.9 percent dip in profits per equity partner. This is unexpected from Milbank, a number 3 seed in our March Madness competition. [Am Law Daily]

* The NRA’s New York affiliate filed suit challenging the state’s new gun laws, claiming that a ban on assault weapons violates the Second Amendment — because this is clearly what the founders intended. [Reuters]

* Raj Rajaratnam’s younger brother, Rengan Rajaratnam, was indicted yesterday in a federal insider-trading scheme tied to the Galleon case. You can’t fault the guy, he was just trying to keep it in the family. [Bloomberg]

* Sorry, Dean Boland, but you’re not going anywhere. A judge denied the attorney’s request to withdraw from Paul Ceglia’s Facebook case. He must be wishing there were a dislike button now. [Law 360 (sub. req.)]

Law school is a ‘debt wizard’ — it’ll make your money disappear like magic!

* In the nick of time, lawyers for the Obama administration filed a brief with the Supreme Court urging the justices to strike down California’s ban on gay marriage. Let’s hope their views have evolved. [BuzzFeed]

* As the lawyers and administrative staff who just got laid off at Patton Boggs can attest to, it sucks to be on the wrong side of “rightsizing.” We’ll have more on this developing story later today. [Reuters]

* Lanny Breuer is leaving the DOJ today, and he’s doing it with a bit of “swagger.” He’s shrugging off rumors that he’ll retreat to Covington, insisting he’ll interview at many firms. [DealBook / New York Times]

* It’s time for the changing of the guard over at Milbank Tweed. Mel Immergut, the longest serving chair of any Am Law 100 firm in New York, is passing the reins to Scott Edelman. [New York Law Journal]

* Michigan Law has a new “Debt Wizard” program that’s extremely useful in that it will allow you to see what you’re getting yourself into. Or, in my case, how poor I’ll be for the rest of my life. Yay! [National Law Journal]

* All he wanted to do was “make the world a better place,” but that didn’t work out so well. In a plea deal, Bradley Manning pleaded guilty to 10 of the charges against him in his WikiLeaks case. [Los Angeles Times]

* Of all of the words that are used to describe Cory Booker, one of them is now “matchmaker.” The Newark mayor assisted a young Seyfarth Shaw associate with his engagement proposal earlier this week. [TIME]

Last year, Milbank Tweed diverged from the Cravath bonus scale, but in a nice way. Milbank paid a pro-rated $7,500 to first-year associates who had been at the firm for just a few months (so-called “stub” first-years). Cravath didn’t pay any bonuses to stub first-year associates last year, so in a sense, Milbank “beat” the Cravath scale.

This year, though, Cravath adopted the Milbank maneuver. Cravath paid a pro-rated $10,000 to members of the class of 2012, making this part of the standard bonus scale.

So what did Milbank do this year to distinguish itself from Cravath in terms of bonuses?

double red triangle arrows Continue reading “Associate Bonus Watch: Milbank Matches Cravath”

Saying goodbye, why is it sad, makes us remember the good times we’ve had.

We love Biglaw departure memos. It’s so much fun to take a glimpse into the mind of somebody who is on their way out of the Biglaw racket.

Sure, we like the epic ones. And we even like the quirky ones that hint at a future full of adventures.

One thing we don’t see a lot of are the unabashedly positive ones. That makes some sense. If you loved your Biglaw job that much, you wouldn’t leave. But there are people who unabashedly enjoyed their time in the trenches of Biglaw.

Today we have a guy who laid down a glowing rhetorical flourish as he exited stage right….

double red triangle arrows Continue reading “Departure Memo of the Day: Leaving Is Its Own Reward”

He got an offer. Did you?

Truth be told, I’m not a fan of law firms giving offers to 100 percent of their summer associates. Whatever happened to selectivity? Given how perfunctory the hiring process is, there has to be at least one mistake in any summer class of decent size, right?

A commenter on our last post about offer rates put it well: “[A] 100% offer rate is not always a good thing. If we don’t want to work with the little weirdo who managed to slip through by pretending he was normal in 20-minute increments in callbacks, there’s a good chance the other SAs don’t either. Firms shouldn’t be so captured by the desire to have 100% offer rates that they give offers to people with serious social issues or work product problems, particularly in small offices where their general offensiveness will really have an opportunity to shine.”

Another reason I don’t like 100 percent offer rates is that I enjoy hearing funny stories of summer associate misbehavior, which often culminate in a no offer or a cold offer. You can share such stories with us by email or by text message (646-820-8477; texts only, not a voice line).

Alas, Biglaw firms are not obliging me. Let’s find out which firms are indiscriminately doling out offers to their summers….

double red triangle arrows Continue reading “Summer Associate Offer Rates (2012): A Round-Up”

Smile if you got an offer!

We’ve had a decent amount of drama involving summer associates at major law firms this year. We’ve heard stories of dramatic helicopter rescues in Canada, showstopping performances at the Apollo, guns found in drawers, and steamy lesbianic trysts (which are, of course, nothing new for summer associates).

Are these antics affecting offer rates? Here’s what we’ve heard about a handful of firms that have announced offers….

double red triangle arrows Continue reading “Summer Associate Offer Rates (2012): Open Thread”

Page 2 of 41234