As regular readers of Lawyerly Lairs know well, some attorneys have beautiful — and expensive — homes. As we’ve just learned from the impressive submissions in our contest to find the best law firm offices in America, many attorneys’ workplaces are no less spectacular.
With the help of Mary Kate Sullivan, our wonderful intern here at Above the Law, I’ve winnowed the large and impressive field to eight finalists. There’s nice diversity here, in terms of firms (Biglaw versus non-Biglaw); decor (traditional versus modern); and geography (seven different cities, located all over the country).
Ed. note: This is the final column by Anonymous Partner based on his interview of a more-senior partner, “Old School Partner” (“OSP”). You can read the first column here and the second column here.
We had been talking for a while, when the conversation turned to Old School Partner’s experiences as a general counsel. He pulled no punches. “I was a very sophisticated consumer of legal services,” Old School Partner told me. In short, Old School Partner, when he turned to outside counsel, had high standards.
Having already decided to leave the security of a leadership position at a Biglaw firm for in-house life, Old School Partner demanded the same attention to detail and professionalism from his chosen outside counsel as he displayed when doing work for his former clients. As an example, he shared how he went about choosing litigation counsel.
“I was looking for counselors,” he told me, and that meant no fluffy credentials without real experience backing them up. “I wanted trial lawyers with real trial experience, who could have the confidence to forego a deposition that was not going to be of any value at trial.” Unlike many clients today, Old School Partner was willing to pay top dollar for real guidance, and did not default to assigning his cases to the lowest bidder or a firm that had a “preferred relationship” with his company. I got the sense that he viewed each case his company was engaged in as a business problem that needed solving, and was willing to pay handsomely for a solution — because he realized that throwing money at a litigation “team” was ultimately less effective and more costly than buying top-drawer help….
* A photo of $211,223.04 that Matthew Inman of the Oatmeal raised for charity. Hopefully this means that the Oatmeal/Charles Carreon lawsuit circus is finally leaving town. [The Oatmeal]
* “Bada da da daaah… I’m loving it! Now give me my Big Mac or I’ll shoot you in the face.” [Legal Juice]
* A San Francisco restaurant finds an creative way around California’s new foie gras ban. Force-fed duck liver 4Lyfe! [Inside Scoop SF]
* The Supreme Court Term feels like a distant memory, but now’s a good time to look back on it with added perspective. Courtesy of MoloLamken, here’s a great guide to the big business cases of the Supreme Court Term just ended. Download or print it, then read it at your leisure. [MoloLamken (PDF)]
I believe the defendant failed a saving throw against berserker, so when he killed those people he didn't know right from wrong.
* Dressing shrinks as wizards when they testify would be an AWESOME idea. I’m serious. Why can’t we have this? And titles, too. “Your Honor, I call Dr. Freud — Ph.D in weakness management and keeper of the sacred staffs of Ivory guard — to the stand.” [Overlawyered]
* iTextbooks! Could be awesome, could widen the gap between the rich and the iPoor. [Adjunct Law Prof Blog]
* Old lawyer accidentally smuggles a gun onto a plane, mainly because security — which noticed said gun — forgot to stop her. TSA doesn’t make us more safe, folks. It just makes us more molested. [Daily Mail]
* Apparently, LLMs go great with Brazilians. The people, not the grooming. Or maybe both — I don’t know, but I was only asked about people. [Live Mint]
* To be clear, putting slavery analogies into our math problems is bad… unless you are a college basketball or football star trying to work out how much you got paid in free tuition for last night’s game, versus how much the university made off of the performance of your team. Then the analogy is “apt.” [CBS Atlanta]
What do you predict for the legal profession in 2020?
* Florida gets a lot of flak, but the state seems to be doing something right with respect to defamation lawsuits. [The Legal Satyricon]
* “How is law school like the NFL draft?” (Aside from the high risk of getting your brains scrambled.) [Freakonomics]
* Let’s “think the unthinkable” about the legal profession in 2020, suggests Matt Homann. Bruce Carton: “50 percent of U.S. law schools will close their doors due to overcapacity.” [the [non]billable hour and Legal Blog Watch]
* Some readers apparently mistook this satirical communication from Jose Baez, counsel to Casey Anthony, for the real thing. And maybe that wasn’t so unfounded. [ABA Journal]
* Kenneth Moreno, one of the two NYPD officers acquitted of raping a drunk woman, isn’t out of the legal woods yet: he faces drug possession charges for heroin allegedly stashed in his precinct locker. [DNA Info]
* Courtesy of MoloLamken, here’s a great guide to the big business cases of the Supreme Court Term just ended. Download or print it, then read it at the gym or on the subway. [MoloLamken]
* Good news for job-seeking law students: JD Match is now free. So what do you have to lose? Give it a whirl. [JD Match]
* Musical Chairs: Guidepost Solutions welcomes litigatrix Carolyn Renzin, formerly a partner at elite boutique Stillman Friedman. [Guidepost Solutions]
Last week we told you about our spring event for law students who want to learn about how to make the most of their summer experience. Like many of the things we do around here, it should be a lot of fun. But it should also be extremely useful — to law students who need to turn their internships into full-time offers, law students who don’t have jobs yet and are exploring all their options, and law students who just want general career advice from a panel of experts.
Over the course of this week, we’ll be revealing the other panelists (in addition to David Lat and Elie Mystal). First up is our small-firm partner: Steven Molo, founding partner of the litigation boutique MoloLamken (whose launch we covered here). Before starting MoloLamken, Steve was a prosecutor in Chicago; a partner at Winston & Strawn, where he served on the firm’s Executive Committee; and a partner at Shearman & Sterling. Given the breadth of his career experiences, Steve has a tremendous amount of wisdom to impart.
There’s a small admission fee (to help us cover the cost of the venue), but we’re extending the $5 DISCOUNT until Friday, March 18, at 11:59 PM, because some people were away on vacation last week and didn’t get a chance to take advantage of the offer. We’ll also be giving away free ATL t-shirts to the next 25 people to sign up (as well as everybody who signed up last week). Just enter the following discount code when registering: Y084BG.
But don’t delay, since seating is limited, and the discount code expires on Friday night. You can get details and register by clicking here (or on the button above). See you on the 6th!
People are talking about an interesting Slate article entitled “Leaving Big Law Behind: The many frustrations that cause well-paid lawyers to hang out their own shingles.” It’s currently the most-read piece on the site. But it’s actually quite similar, even down to some of the sources, to an article that appeared a few days earlier in Crain’s New York Business:
A lawyer’s hourly billing rate used to be a badge of pride — the higher the number, the more valuable (and supposedly brilliant) the lawyer. But over the past 18 months, a strange phenomenon has been sweeping the legal arena: Partners at major law firms are quitting because they want to be able to charge less for their services.
This is, of course, not a new development. Kash and I wrote about it in a December 2009 cover story for Washingtonian magazine, in which we interviewed a former member of the $1,000-an-hour club who left a large law firm and started his own shop so he could offer clients better value. But all the recent coverage — in Crain’s, Slate, and elsewhere — suggests that the trend is picking up steam.
Which kinds of lawyers are leaving Biglaw to hang up their own shingles? Why are they doing it? And how’s it going for them?
A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.
In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.
To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, we talked to an attorney who graduated with a large student loan debt. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.
S. Fischer, 36, Attorney Graduated: 2001
How Much I Borrowed: $100,000
What I Still Owe: $45,000
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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@example.com.
Deal flow has clearly picked recently up for most US associates, counsels and partners in Hong Kong/China and Singapore. We are on the phone with a lot of these folks on a daily basis, many of whom we have known for years. Further, the head of our Asia team, Evan Jowers, and Kinney’s founder and president, Robert Kinney, frequently meet in person with leading US partners in Asia to assess their needs and keep on top of the inside scoop at as many firms as possible. The need for legal recruiting help in Asia from experienced recruiters appears to be live and well. In March, Evan and Robert were in Beijing at such meetings, in April, Evan was in Hong Kong, and for half of June Evan will be in Shanghai and Hong Kong. Thus its pretty easy for us to tell when there has been an across-the-market pick up in capital markets and corporate work.
On an average day in Asia when Evan and Robert visit firms, they typically have 5 to 9 meetings a day, mostly with US partners in the market. The reason they have these meetings is not simply because Kinney makes a lot of US attorney placements in Asia and that a particular firm may have openings; instead these are just visits with friends. After years of working together as business partners, the folks at Kinney are actually these peoples’ friends. The firms Kinney work closely with in Asia (which is just about every law firm – call us if you want to know the one firm in the world we will never place anyone with again, ever, and why) look forward to the visits, or at least act like they do. After seven years in the market, many of the client partners are former associate candidates. Also, these US partners see Kinney as a very good source of market information as well, because they know how deep their contacts are in the market and how frequently they are speaking to counterparts at peer firms.
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