Money
-
Biglaw, Billable Hours, Boutique Law Firms, Duval & Stachenfeld, Midsize Firms / Regional Firms, Money, Real Estate, Small Law Firms
Reinventing The Law Business: In Defense Of The Billable Hour
Should the billable hour really be vilified as something that rewards inefficiency and incompetence, or is it a benchmark with which to judge performance, or is it both? -
Biglaw, Bonuses, Money
Associate Bonus Watch: One More Firm Matches The Simpson Scale
Firm decides to be a team player and match the Simpson scale. - Sponsored
Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so… -
Biglaw, Bonuses, Money
Associate Bonus Watch: Skadden 'Beats' Simpson, Kinda
For certain senior associates, Skadden will be paying more than the market -- how much more?
-
Morning Docket
Morning Docket: 11.25.14
* “Have a taste of this. It will do you good in so many ways.” Louisa Moritz, one of Bill Cosby’s alleged victims, is interested in filing a class-action lawsuit against the comedian. [Fox News Latino]
* If you’re interested, here’s all of the testimony and evidence that was presented to the grand jury that resulted in no true bill for Darren Wilson in the Michael Brown shooting. [Associated Press]
* HBO hired a team of 160 lawyers to look at its film adaptation of Lawrence Wright’s book about Scientology. The power of thetans compels them to keep churning that bill, baby. [Hollywood Reporter]
* “The Constitution is not a math problem,” but it seems like the Supreme Court is playing a numbers game when it comes to its decisions having to do with same-sex marriage. What’s the magic number for SCOTUS to take a case? [New York Times]
* It’s official: Morgan Lewis has gobbled up most of Bingham McCutchen ahead of the Thanksgiving holiday. Stick a fork in it, because Morgan Lewis is done — it’s now stuffed full of more lawyers than any other firm in the country. [Philadelphia Inquirer]
* Emerson Briggs III, an ex-partner at Hunton & Williams, is facing disbarment in D.C. over the child pornography he downloaded at work. Oh, how the mighty have fallen: he’s been working as a paralegal since being disbarred in New York. [Legal Times]
* Patricia Nesci, a law firm secretary, allegedly forged a judge’s signature on an order to show cause to keep herself from being evicted from her home earlier this month. She apparently did not get a Biglaw-style bonus from her former firm. [Syracuse.com]
* Before you submit your applications, you should try creating a budget to see just how financially screwed you’ll be during and after law school, and then compare it to your pre-law school budget. Try not to cry. [Law Admissions Lowdown / U.S. News]
-
Biglaw, Bonuses, Money
Associate Bonus Watch: Cravath Announces!
So did Cravath, the usual first mover on associate bonuses, beat the Simpson Thacher scale? -
Biglaw, Bonuses, Money
Associate Bonus Watch: Another Firm Hops On The Simpson Thacher Bandwagon
Which firm decided to match Simpson Thacher's bonus scale this time? -
Biglaw, Bonuses, Money
Associate Bonus Watch: A Major Firm Matches Simpson
Simpson Thacher's generous bonus scale gets followed by another top law firm. -
Career Center, Career Files, Finance, Lawyers
From the Career Files: 9 Reasons Biglaw Associates Should Adopt a Goal-Based Investment Strategy
Before you start putting money into the market, ask yourself one question: What exactly are you saving and investing for? This is a serious moment of self-inquiry, especially for young associates who are considering what to do with their money. In order to invest for the future, you are cutting back on spending your wealth now. There must be some future purpose for this sacrifice—some goal for tomorrow’s spending that outweighs the pleasure of today’s spending. - Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms. -
Biglaw, Bonuses, Money
Bonus Season Comes Early! (And It's Not Cravath -- It's Simpson)
We have our first Biglaw bonus announcement, courtesy of Simpson Thacher. Let the games begin! -
Litigators, Money, Sponsored Content
How Litigation Financiers Value A Claim
How do litigation financiers value a claim? There are four steps. -
Associate Advice, Biglaw, Billable Hours, Bonuses, Money
Which Biglaw Firm Just Got Rid Of Billable Hours?
What will replace the billable-hour requirement at this large law firm? -
Antonin Scalia, Biglaw, FCC, Gender, Law Firm Mergers, Law Schools, LSAT, Money, Morning Docket, SCOTUS, Supreme Court, Technology, Texas, Women's Issues
Morning Docket: 11.12.14
* With all this net neutrality talk, one of the biggest fans of the cause is Justice Antonin Scalia. He may not be tech-savvy, but he may yet save the internet. [National Law Journal]
* And the partners rejoiced? Bingham McCutchen approved a Morgan Lewis merger, and now the firm waits for its valiant rescuer to ride in upon its trusty steed. [WSJ Law Blog]
* A new study says the way to close the law school gender gap is to adopt gradeless grading policies similar to those of top law schools. Honors for everyone, yay! [Stanford News]
* LSAT prep company Test Masters Educational Services Inc. — not to be confused with TestMasters — must pay about $927K in legal fees, because as it turns out, some people were confused. [Legal Times]
* A Texas state representative submitted a bill calling for a new law school in the Rio Grande Valley because there aren’t enough lawyers there. Unemployed lawyers, you know what to do. [Action 4 News]
-
Litigators, Money, Sponsored Content
Lake Whillans Litigation Finance: How To Secure Financing For A Commercial Claim
What does the process of securing litigation finance look like?
Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
Legal AI: 3 Steps Law Firms Should Take Now
Sponsored
The Business Case For AI At Your Law Firm
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
-
Biglaw, Conferences / Symposia, In-House Counsel, Money, Partner Issues, Partner Profits
How Did Biglaw Do In The Third Quarter Of 2014?
Some firms should be happy, but others should be worried. -
Biglaw, Bonuses, Clerkships, Fabulosity, Money, Supreme Court, Supreme Court Clerks
Which Law Firm Won The SCOTUS Clerk Sweepstakes (Again)?
Is this collection of top talent worth more than $2 million in signing bonuses? -
Bar Exams, Money
This Bar Exam Failure Needs Your Help
Would you broadcast your bar exam failure to the world in order to get your bar costs covered? -
Litigators, Money, Sponsored Content
Litigation Finance: Transaction Structures
Shedding some light on a few frequently asked questions about the structure of litigation finance deals. -
Law Schools, Money, Quote of the Day, Small Law Firms, Solo Practitioners, Student Loans, Unemployment
The Incredibly Harsh Stigma Of Law School Debt
What's been the worst part of having to grapple with unemployment and pay off student loans? -
Banking Law, Gay, Job Searches, Law Schools, Money, Morning Docket, Rankings
Morning Docket: 11.03.14
* Two women will be making their oral argument debuts before the Supreme Court this week. One of them will be arguing two cases in the span of a month, which is absolutely insane. [National Law Journal]
* Big banks are putting aside big money for legal costs: Citi squirreled away an extra $600 million, RBS is ready to hand over $600 million, and Barclays has $800 million on tap. [DealBook / New York Times]
* In preparation for the prestige frenzy come March 2015, law schools will have about three weeks to complete their survey information for the annual U.S. News law school rankings. [Morse Code / U.S. News]
* The controversial, anti-gay Trinity Western University Law School may not be able to open after all. The B.C. Law Society just voted to overturn its prior approval of the school’s accreditation. [CBC News]
* It seems the United States isn’t the only place where recent law school graduates are struggling to find jobs. In Japan, newly licensed lawyers can’t find work either. Saitei, my friends, saitei. 🙁 [Japan Times]
-
Bankruptcy, Biglaw, Crime, Dewey & LeBoeuf, Law School Deans, Law Schools, Money, Morning Docket, Partner Issues, Sentencing Law, Trials
Morning Docket: 10.31.14
* Many lawyers may think that Biglaw is in recovery what with its record gross revenues and profits, but if you adjust the numbers for inflation, the overall picture looks pretty grim. Reality certainly does bite, folks. [American Lawyer]
* Please pay up and shut up: Alas, seven partners who sought to dismiss the clawback suits filed against them by failed firm Dewey & LeBoeuf’s bankruptcy liquidation trustee were denied in court this week. [WSJ Law Blog]
* Thomas Jefferson School of Law restructured its debt to avoid default, and now its dean has announced he doesn’t think the school’s enrollment will ever return to its former glory. Aww. [National Law Journal]
* Warren Gladders, the WUSTL Law grad turned bank robber, received 45 years in jail for his getaway shootout with the cops. It’ll run consecutively with his 24-year robbery sentence. [St. Louis Post Dispatch]
* The judge overseeing the Jodi Arias sentencing retrial made the unusual decision to bar the public from watching the testimony of the defense’s first witness. We’re now awaiting Nancy Grace’s anuerysm. [AP]